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GoldQuest extends land position by 10 kilometers at Tireo gold-copper property

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GoldQuest extends land position by 10 kilometers at Tireo gold-copper property

GoldQuest Mining Corp. was regranted the 1,311.5-hectare Aguita Fria exploration concession and was granted the 300-hectare Valentin concession, extending its land position in the Tireo Formation in the Dominican Republic.

The Aguita Fria concession extends the company's Tireo property by about 8 kilometers to the southeast, while the Valentin concession at the northwestern tip of its concession package extends it by a further 2 km.

GoldQuest plans to conduct further mapping and sampling ahead of ground-based geophysics to tie into ongoing exploration focused to the northwest of the concession, it said Oct. 6.

A recent pre-feasibility study on the Romero gold-copper project, part of the Tireo property, estimated an after-tax net present value of US$202.7 million, using a 5% discount rate, with a 28.2% internal rate of return and a 2.5-year payback period.