GoldQuest Mining (GQC, TSX-V) has just released assay results (5:25 am Pacific) from the first step-out hole at its Romero discovery, and it should meet or exceed the market’s expectations. LTP-92 intersected an impressive 159 metres grading 4.45 g/t Au from 212.5 to 372 metres, including a sub-interval of 75.5 metres grading 9 g/t Au and 1.06% Cu.
A high-grade intersection from 243.9 to 288 metres returned 13.9 g/t Au using a 50 g/t Au cut-off. Meanwhile, a section from 320 to 346 metres returned a lower Gold grade (0.54 g/t Au) but 2.04% Cu.
The hole bottomed in mineralization (it was terminated for technical reasons due to the smaller portable rig) at 399 metres “with certain horizons displaying enrichment in Gold and base metals”.
LTP-92 was collared 25 metres to the west of discovery hole LTP-90 and displayed similar characteristics to that hole.
Three other holes have been completed and two are currently in progress.
It’s been a while since I’ve been able to make a nice profit in 2days. Hope We start to see more plays like this in the near future…
Comment by db — July 18, 2012 @ 5:42 am