Drilling at Ralston Valley, Nevada Shows Golconda on Right Track.CORTEZ, Nev. -- Golconda Resources Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:GA): A Paleozoic laminated limestone /siltstone sequence intersected by a mineralizing structure or fault has been recognized in the Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] area of Nevada as the main carrier of large high-grade gold deposits. Recently, the same rock and fault configuration has been found to contain large high grade gold deposits in the Cortez, Nevada area as well. Golconda believes similar conditions are existing on its Ralston valley prospect, which is covered 95% by alluvial sand and gravel. Seven reverse circulation drill holes tested this idea in an area of 5,000 ft. x 5,000 ft. (1.5 km x 1.5 km). For the initial results see the news release of 11. August 2004. Five holes were drilled within a 2,000 ft. (600 m) wide northwest striking belt of the Cambrian "Gold Hill" quartzite quartzite, usually metamorphic rock composed of firmly cemented quartz grains. Most often it is white, light gray, yellowish, or light brown, but is sometimes colored blue, green, purple, or black by included minerals. and extended over 5,000 ft. along trend. All holes show the presence of past hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. activity with anomalous gold, silver and associated metal values. Hole RV-13 located 2,500 ft. (760 m) west of the quartzite unit and reached a depth of 1,140 ft. (348m). At 740 ft. (225 m) it went into quartzite and intersected the highly prospective laminated silty limestone from 800 ft. to 1,080 ft. (244 m to 329 m). The underlying siltstone siltstone Hardened sedimentary rock that is composed primarily of angular silt-sized particles (see silt) and that is not laminated or easily split into thin layers. shows no anomalous values, whereas the laminated limestone sequence shows persistent anomalous gold (up to 35 ppb) and silver (up to 2 ppm) values with associated high arsenic, barium and phosphorus. These values are highly significant, because this hole could be more than 1,500 ft (500 m) west of the expected mineralizing structure. RV-14 had to be abandoned due to drilling difficulties at 540 ft. (165 m) and was only 750 ft (230 m) west of the quartzite belt intersecting the siltstone from 400 ft. to 540 ft. The siltstone was altered to clay from 400 to 500 ft. The final 30 ft. of RV-14, although still being in the siltstone sequence, show already increasing gold-silver values. Barium with 3,890 ppm and phosphorous phos·pho·rous adj. Of, relating to, or containing phosphorus, especially with a valence of 3 or a valence lower than that of a comparable phosphoric compound. with 7,780 ppm are substantially higher than the values in hole RV-13. A major fault running between RV-14 with siltstone showings at 400 ft. depth and RV-15 with the overlying overlying suffocation of piglets by the sow. The piglets may be weak from illness or malnutrition, the sow may be clumsy or ill, the pen may be inadequate in size or poorly designed so that piglets cannot escape. quartzite still occurring at 830 ft. (253 m) has a displacement of at least 650 ft. (200m). The drill program succeeded in showing the existence of laminated silty limestone which is host to major ore deposits elsewhere in Nevada and the presence of a major fault which is connected to a gold and silver carrying hydrothermal system. The drilling also narrowed the position of this fault down to a belt of less than 750 ft. (230m). The samples were analyzed by ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex in Vancouver, BC. and Guenter Liedtke is the qualified person on the project. Additional drilling of this highly prospective zone is expected to start before the end of September. The company is granting 650,000 options at C$ 0.25 to three directors. These options have a term of 5 years and replace expired options. On behalf of Golconda Resources Ltd., "signed" Guenter J. Liedtke, President The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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