GoldQuest Mining Corp. ("GoldQuest" or the "Company") is pleased to announce that the Company has commissioned both a pre-feasibility and a feasibility study on its 100% owned Romero project in the Dominican Republic. Following a competitive bidding process, the Company has selected Met-Chem Canada Inc. of Montreal to be the lead consultant.
GoldQuest and Met-Chem will immediately start the pre-feasibility study (PFS), slated to be completed in Q2 2016. The feasibility study will begin immediately upon completion of the PFS with scheduled completion before the end of 2016. GoldQuest is adequately funded to complete both these studies, following the closing of a $3.5 million financing last week.
Met-Chem is an international engineering and consulting company, with mining and metallurgical experience in over 35 countries. They have direct experience in the mining sector of the Dominican Republic where they were the lead contractor for the Cerro de Maimon copper/gold mine. Met-Chem completed construction at Cero Maimon on time and on budget, and continue to be active in that mine's current mill modifications.
"We are pleased to have engaged Met-Chem, who have a stellar mining and engineering track record in both the Dominican Republic mining and elsewhere," commented Julio Espaillat, President and Chief Executive Officer. "The greater part of field work for the Romero pre-feasibility has been completed so the studies will advance rapidly."
The information in this press release has been reviewed and approved by Mr. Jeremy Niemi, P. Geo., Vice President, Exploration of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards.
GoldQuest is a Canadian based mineral exploration company with projects in the Dominican Republic. GoldQuest is traded on the TSX-V under the symbol GQC and in Frankfurt/Berlin with symbol M1W.
GoldQuest has moved its Toronto office to 133 Richmond Street West - Suite 501, Toronto, Ontario M5H 2L3 which has reduced corporate general administration expenditures.