Dominican Republic poor region upbeat on major gold find
Santo Domingo.- San Juan de la Maguana province (west) took the biggest step in the country’s mining development after gold and copper was discovered in its depressed territory, which will create new jobs in the corridor called Las Tres Palmas, that links the communities La Escandalosa, El Romero and Loma Los Comíos.
In fact, the people of La Higuera, a neighboring village, are already reaping the benefits of full employment, said mining director Alexander Medina, quoted by newspaper Listin Diario.
Canadian miner GoldQuest/Inex, which holds the exploration concession in the ??San Juan area, reported finding the gold and copper deposits which have been listed as the country’s biggest mineral discovery in the last 20 years, and the world’s largest in 2012.
GoldQuest/Inex has spent US$ 3.5 million in 33 drillings in an area north of the city of San Juan totaling 13,720 meters, with expectations of favorable results, with US$21 million already raised from investors.
It estimated around 315,000 ounces of gold just at La Escandalosa Sur in May last year, but analysts have noted that the resources could exceed 1.0 million ounces.
There’s still no official report on the resources at El Romero because the miner awaits a study of the reserves and the concessionaire’s compliance with regulations of Canada’s Securities Exchange Commission.
Medina revealed that studies conducted by the Mining Agency in 1967, and a geochemical study which cost US$5.0 million by Gold Fields from 2000 to 2004, found prospects and “anomalies” which led to the first discovery at La Escandaloa. ” GoldQuest continued working in El Romero, which is the site of the major discovery. We’re talking around 200 meters of copper-gold mineralization and the area still continues toward Los Comíos.”
Category: DR News |