After one of the best drill holes from a Canadian junior explorer in recent years, GoldQuest Mining (GQC, TSX-V) has rocketed from just 7.5 cents to as high as 82 cents over the last nine trading sessions in a great example of how perseverance, geological savvy and a little luck can lead to a potential major discovery. More needs to be known about what GoldQuest may have hit at its Las Tres Palmas Project in the Dominican Republic, but there’s no question GQC and hole LTP-90 have grabbed the market’s attention.
On Monday, GoldQuest chairman Bill Fisher granted his first interview on the discovery to BMR which has been following GQC closely since 2010. Click on the link below to listen to Part 1 of this interview.
BMR June 4 Interview: GQC Discovery With Bill Fisher
Note: No compensation was paid by GQC for this interview in accordance with BMR policy. Please read our disclaimer. As always, perform your own due diligence. Our stock coverage is for informational and entertainment purposes only and must NOT be viewed or interpreted as “buy”, “sell” or “hold” recommendations.
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Comment by Bert — June 6, 2012 @ 5:00 am
17.GCQ with “best hole in the world in the last 18 months” ?
They reported 231m x 2.4gpt = 554,4 gram-meters (lenght x grade).
Comparison: Newstrike Capital
173.5m x 3.07gpt = 532,6 gram-meters (March 14, 2012)
135.4m x 5.57gpt = 754,2 gram-meters (November 23, 2011)
120.0m x 4.60gpt = 552,0 gram-meters (August 3, 2011)
190.1m x 3.52gpt = 669,2 gram-meters (June 27, 2011)
AND FINALLY, THIS WOULD BE THE BEST HOLE IN THE WORLD IN THE LAST 18 MONTHS:
Newstrike Intersects 230.95 Meters of 7.51 G/T AU at the Ana Paula Project (April 20, 2011)
230,9m x 7.51gpt = 1734,1 gram-meters (!!!!!)
FANTOMAS
Comment by FANTOMAS — June 6, 2012 @ 5:37 am
Fantomas, we like Newstrike a lot but…Bill Fisher has a valid point regarding Romero….you of course are not including the copper which was intersected in the GQC hole…….Fisher made the comment in the context that this was a blind deposit with no holes drilled in the immediate vicinity, and the hole had consistent alteration and mineralization throughout with increasing grades at depth…..what it’s possible they have hit – and we stress possible because not enough is known at this point – but it’s possible they have hit a massive porphyry system…..the hole ended in mineralization….it could get even richer at depth……and could go to 500 or 600 metres or more, we don’t know…….he has also seen the core, and the core can reveal things that the assays don’t……
Comment by Jon - BMR — June 6, 2012 @ 5:48 am
Jon, I think, you and Bill should do some more digging when supposing that 0,44% Copper can make up for an additional 5gpt Gold. And Newstrike has 7gpt Silver as by-product as well.
Just to give you some “feeling” about rock value:
1. GQC: 2,4gpt Gold = $123/tonne + 0,44% Copper = $33/tonne = $156/tonne
2. NES: 7,5gpt Gold = $386/tonne + 7gpt Silver = $6/tonne = $392/tonne
Again, GQC has a nice hole, but NES best hole is worth more than double per tonne rock, with or without copper.
FANTOMAS
Comment by FANTOMAS — June 6, 2012 @ 11:04 am
The GQC hole was terminated prematurely in mineralization, with the grades increasing at depth (including sections of more than 2% Cu) toward what could be a major heat engine, so – taking nothing away from Newstrike – I’m not about to dispute (or confirm) Fisher’s claim or opinion…….he’s looking at the big picture and factoring in information you’re not factoring in….the view of this hole will change, for the better or the worse, in the coming weeks, as things move fwd and more results come in….Fisher knows his business and has not been hyping this discovery, so he didn’t make that comment in a flippant, non-thoughtful manner…….
Comment by Jon - BMR — June 6, 2012 @ 5:44 pm
newstrike , which i like, is not a new story, so will attract more interest than NES IMO , as long as GQC can continue to produce results which keep the mkt stoked about the possibilty
Comment by rdww — June 8, 2012 @ 1:35 pm
newstrike , which i like, is not a new story, so will attract more interest than NES IMO , as long as GQC can continue to produce results which keep the mkt stoked about the possibilty
and dundee didnt jump in just cause they have a nice hole, they respect the opinion of someone that made them a whack of dough at Aurelian
Comment by rdww — June 8, 2012 @ 1:37 pm