Golconda Resources Ltd. - Diamond Property Drilling Results From Alaska.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--Feb. 21, 2002 Golconda Resources Ltd. intersects mafic maf·ic adj. Containing or relating to a group of dark-colored minerals, composed chiefly of magnesium and iron, that occur in igneous rocks. igneous rocks in a pipe like structure in southern Alaska. Shulin Lake, Alaska - 51% interest - 16.000 acres - Diamonds Golconda Resources Ltd. with its partners Shear Minerals Ltd and Shulin Lake Mining Inc. carried out the first part of an exploration program by drilling four reverse circulation holes to a depth of 330 ft (100 m), the capacity of the drill rig. The drilling followed up on the discovery of a mafic pyroclastic py·ro·clas·tic adj. Composed chiefly of rock fragments of volcanic origin. pyroclastic Composed chiefly of rock fragments of explosive origin, especially those associated with explosive volcanic indicating a volcanic crater facies facies /fa·ci·es/ (fa´she-ez) pl. fa´cies [L.] 1. the face. 2. surface; the outer aspect of a body part or organ. 3. expression (1). which was intersected by a previous diamond drill hole in July 2001. Tests carried out for diamond indicator minerals revealed a suite of eclogitic garnets Garnets may have the following meanings
Hole 02-1 was drilled 530 ft (162 m) north of last years drill hole. It reached a depth of 330 ft and was still in the pyroclastics. From 210 ft (64 m) to the end of the hole a different layer with a much higher content of olivine, pyroxene pyroxene (pī`rŏksēn), name given to members of a group of widely distributed rock minerals called metasilicates in which magnesium, iron, and calcium, often with aluminum, sodium, lithium, manganese, or zinc occur as X in the chemical , orange garnets, chrome diopsides and oxides was intersected. Hole 02-2, 510 ft (155 m) north of 02-1 Hole 02-3, 500 ft (152 m) west of 02-2 Hole 02-4, 515 ft (157 m) west of 02-3 All holes were terminated at 330 ft (100 m) in pyroclastics. The drilling intersected pyroclastic rocks over an area of 1000 ft x 1000 ft (300 m). At least three different phases are indicated. With the country rock in the area consisting of Tertiary sediments it is Golconda's conclusion that the drilling intersected a pipe like structure of lamproitic or similar composition. The samples are on their way to Calgary and will be tested for diamonds and diamond indicator minerals. A diamond drill rig will be moved to the property shortly to drill deeper holes and define the geological parameters of this pipe. On behalf of Golconda Resources Ltd. Guenter J. Liedtke, President "The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release" |
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