en.Wedoany.com Reported - GoldQuest Mining Corp. (GQC:TSX.V) announced the latest drilling results from the Cachimbo target in the Dominican Republic, confirming the continuity of a newly discovered high-grade polymetallic mineralization zone. Drill hole TIR-26-62 intersected a 15-meter mineralized interval starting at a depth of 277.35 meters, grading 8.60 g/t gold, 128.2 g/t silver, 0.77% copper, 11.21% zinc, and 0.34% lead. The company believes these results validate the new parallel mineralized structure discovered in TIR-26-58 in early 2026 and confirm the high-grade polymetallic volcanogenic massive sulfide (VMS) characteristics of the system.
GoldQuest CEO Luis Santana stated that TIR-26-62 represents a significant follow-up result for the Cachimbo exploration program, with drilling providing additional geological information on the polymetallic VMS mineralization, contributing to an ongoing understanding of the mineralized system. These results will support the selection of future drilling targets.
GoldQuest is a Canada-based exploration and development company that collaborates with Dominican investors, focusing on advancing gold and copper assets in the Dominican Republic.
In the metals market, gold remains a safe-haven asset influenced by inflation concerns and geopolitical uncertainties. According to Investing.com analysis, rising energy costs related to the Middle East crisis could exacerbate inflationary pressures, forcing the Federal Reserve to maintain restrictive monetary policies. Meanwhile, new concerns over U.S. tariffs on Chinese copper exports have also led to price declines. On June 4, 2026, following the announcement of a ceasefire agreement between Iran and Lebanon, the gold market rose 1.63% to $4,505.90 per ounce. Gold hit an all-time high of $5,000 per ounce in January 2026, and S&P Global expects gold to remain volatile but structurally supported. The World Bank Group forecasts a 17% overall increase in global metal prices in 2026, marking the first overall market rise since 2022.
Analyst Chen Lin commented that GoldQuest's drilling results are impressive but noted the social license issues in the Dominican Republic. The analyst stated that they recently bought above C$0.40 and sold some shares short-term for quick profits, planning to hold the remaining position long-term.
Assay results for the vein zone beneath the high-grade VMS layer are pending. The company continues to integrate geological and geophysical data to refine drilling targets. The confirmation of a high-grade VMS layer in the second drill hole helps prioritize follow-up drilling along strike and across the broader anomalous corridor.
GoldQuest Mining Corp. has a market capitalization of C$467.02 million, with 382.8 million shares outstanding. The 52-week share price range is C$0.38 to C$2.70. Institutions hold 5.56% of shares, strategic investors hold 21.08%, management and insiders hold 6.22%, and retail investors hold 67.14%.
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