Golconda Resources Ltd.: Ralston Valley, Nevada 'GOLD' -Drilling Plans for 2006.CALGARY, Alberta -- Golconda Resources (TSX TSX Toronto Stock Exchange (TSE before April, 2002)TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:GA) is looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. tenders for its initial drill program in early 2006. Carlin-type gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. occurs at Baxter Springs in an outcropping Palaeozoic sequence ranging from shale to silty limestone. A historic drill intercept of 6.99 oz gold/ ton over 10ft by Homestake, and several multi-ounce drill intercepts and surface rock samples indicate the presence of a strong system. With alteration of the rock increasing towards the gravel-covered valley, Golconda staked the extension of the two gold mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. structures. The west and east structures comprise the Ralston Valley prospect. Here the lower, more prospective part of the Palaeozoic sequence - a silty laminated limestone- is projected to be in contact with a cretaceous granitic intrusion. Most of the gold 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.] district is bound to a similar laminated limestone. The Round Mountain/Gold Hill mines that contain over 15 million ounces of gold, as well as the historic mines at Manhattan and Belmont, lie in close contact with the same granitic intrusion to the north and east. In 2004 seven reverse-circulation holes (RV-9 to RV-15) were drilled to delineate areas where the two mineralising structures intersect the favourable silty limestone sequences. Holes RV-9 to 12 went from overthrusted 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 shale into the granite. Hole RV-15 got stuck in quartzite at 840ft. Anomalous gold values, especially in RV-12 and 15, indicated the presence of an extensive hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. system. West Structure Hole RV-13 intersected, from 800 to 1070ft depth -below a younger basalt flow- a limy shale sequence. Anomalous gold, silver, arsenic and barium, as well as phosphorus, vanadium vanadium (vənā`dēəm), metallic chemical element; symbol V; at. no. 23; at. wt. 50.9415; m.p. about 1,890°C;; b.p. 3,380°C;; sp. gr. about 6 at 20°C;; valence +2, +3, +4, or +5. Vanadium is a soft, ductile, silver-grey metal. and zinc values occurred throughout this zone. From 1070 to 1170ft at end of hole, no anomalous values were recovered in a non-calcareous shale horizon. RV-13 was drilled about 230m (750ft) east of the western structure and penetrated a higher, less favourable horizon. Yet it showed consistent anomalous values in gold and associated elements. A new hole is planned about 250m to the west to intersect this and possibly other more favourable horizons close to the contact with the structure. It should go to a depth of 1500ft or more. East Structure RV-14 intersected a clay zone from 400 to 500ft, and had to be abandoned at 530ft. Assay results later showed that the clay zone was most likely the hydrothermally-altered eastern structure. The shale horizon below is anomalous in gold and other associated elements. Barium, at 0.389%, and phosphorus, at 0.778%, were the highest values encountered by Golconda on the property and could be indicative of a well-mineralized system close-by. The most favourable silty laminated limestone horizons are expected to occur closer to the surface. A new hole is planned that will twin RV-14 and another will be drilled 1200m (4000ft) along trend to the structure, to the southeast. Both holes are projected to go to a depth in excess of 1000ft each. The position of further holes will be based on the alteration and rocks encountered in these first three drill holes. Golconda has another three advanced gold properties in Nevada where drilling is planned for 2006. All assays were carried out by ALS-Chemex in Vancouver, and Golconda's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Guenter J. Liedtke, P.Geol. is the designated qualified person for the purposes of National Instrument NI 43-101 Standards of Disclosure. 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 resp onsibility for the adequacy or accuracy of this release. GOLCONDA RESOURCES LTD. (TSX VENTURE:GA) |
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