Golconda Resources Ltd. Prepares for Deep Drilling Program for Carlin Type Gold Deposits In Nevada.CALGARY, Alberta--(BUSINESS WIRE)--July 13, 1998--Golconda Resources (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :GA.) Based on information obtained from a recently completed shallow drilling program on its Ralston Valley Prospect in Nevada, Golconda Resources Ltd. has decided to expand the drilling program by drilling deep holes to test for a potential high grade Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] type gold deposit at depth. Two zones of alteration (250 feet and 450 feet wide) showing several jasperoid zones with anomalous gold values occur in a palaeozoic limestone-shale sequence. Two inclined holes drilled into the west zone (160 feet and 140 feet) showed a marked increase in silicification si·lic·i·fy v. si·lic·i·fied, si·lic·i·fy·ing, si·lic·i·fies v.tr. To convert into or impregnate with silica. v.intr. To become converted into or impregnated with silica. and the thickness of the jasperoids, as well as a in gold values to 0.023 oz Au/ton over 40 feet thickness with depth. Two inclined holes drilled into the east zone (360 feet and 300 feet) intersected a total of six structurally controlled jasperoids with thicknesses up to 30 feet, multi stage quartz and calcite veins and bleached decalcified zones. Increased gold values are also found in this zone with a high of 0.082 oz/ton over 5 feet in a vuggy quartz vein, while at surface only anomalous gold values have been found. The very strong increase in alteration, veining vein·ing n. Distribution or arrangement of veins or veinlike markings. and gold values with depth in the shallow drilling points to the district possibility of higher grade 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. at greater depth. The drilling program will recommence Re`com`mence´ v. i. 1. To commence or begin again. 2. To begin anew to be; to act again as. He seems desirous enough of recommencing courtier. - Johnson. v. t. 1. To commence again or anew. next week. The Alberta Stock Exchange neither approves nor disapproves the information contained herein.
CONTACT: Golconda Resources Ltd.
Guenter J. Liedtke, 403/232-6828
403/232-8650 (FAX)
golconda@agt.net
http://www.agt.net/public/golconda
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion