Exploration and Development
Golconda Resources Ltd. explores for gold and silver mineralization in South Western Nevada—South Monitor/Monitor Flat and Ralston Valley/Baxter Spring properties—and most recently it has entered into an option agreement to begin exploration on a copper-gold property in Northern British Columbia.
Northern British Columbia
Copper and Gold
At the end of 2008, Golconda announced that it was entering into an agreement with Lyncorp Mining Services Inc. (see news release dated December 9, 2008) to acquire 100% interest in various placer claims in Northern B.C. The project, known as the Mitchell Creek Project, is a prospective gold property. The claims are located near Stewart, B.C., and comprise 14 claims of approximately 1,375 hectares.
The area is highly prospective – Canadian exploration company Seabridge Gold Inc.'s KSM project is in the immediate area of Golconda's claims and has been described by Seabridge as "one of the world's largest undeveloped gold/copper projects" (for more information see their website at www.seabridgegold.net). Indeed a portion of Seabridge's KSM claims host over 30 million ounces of gold, measured and indicated, as well as a large copper deposit. Golconda has already applied for a permit to begin trenching on the Mitchell Creek property with the goal of advancing it towards a placer mining operation.