Suite 780,
521 – 3rd Avenue S.W.
Calgary, AB T2P 3T3
NEWS RELEASE
DRILLING CONTINUES IN NEVADA ON RALSTON VALLEY GOLD PROPERTY
Drillhole BX-1 reached a depth of 520-feet before Christmas and will be continued to a depth of 1,500-feet when drilling resumes on January 15, 2007.
The hole encountered so far a sequence of 1 cm to 5 cm thick quartz veins in strongly pyritic black shale from 305-feet to 325-feet and a zone of bedded and cross-cutting thin banded quartz-carbonate veins with pyrite and arsenopyrite from 470-feet to 520-feet in limey and silicified shale. This zone may continue with the deepening of the hole. Gold mineralization at Ralston Valley is tied to quartz veining and silicified breccias.
Samples from 170-feet to 520-feet were sent to ALS Chemex for analysis on December 17, 2006.
Initially, four holes will test four gold mineralized areas to a depth of 1,500 to 1,800-feet for the occurrence of Carlin Type gold mineralization in a laminated silty limestone sequence, which is projected to occur below a depth of 1,200-feet.
Guenter Liedtke is the designated qualified person responsible for exploration on the project under NI 43-101.
On behalf of Golconda Resources Ltd.,
signed “Guenter J. Liedtke”
Guenter J. Liedtke,
President
GOLCONDA RESOURCES LTD.
Suite 780,
521 – 3rd Avenue S.W.
Calgary, AB T2P 3T3
November 20, 2006
NEWS RELEASE
Deep Drilling to Start at Ralston Valley Gold Prospect -
Golconda Resources Ltd. will begin a deep diamond drill program on it’s Ralston Valley Gold prospect in Nye County, Nevada around the 25th of November, 2006.
In 2005, Golconda entered into an option agreement to earn up to 75% in 33 claims (660 acres), the BX-claims, which cover outcropping gold mineralization in the Baxter Springs area. Golconda already owns a 100% interest in 60 claims (1,200 acres), the RV claims, which cover the extension of the gold mineralized structures. In the Ralston Valley – Baxter Springs area, Carlin type stratabound and structurally controlled gold mineralization occurs in a Palaeozoic sequence of limestone and siltstone, which include several laminated silty limestone horizons. In the Carlin area, the laminated silty limestone is the main host rock containing over 85% of the gold in that district. The same rock type contains also most of the gold mineralization in the Ralston Valley – Baxter Springs area.
DRILLING ON THE BX-CLAIMS – November to December, 2006:
The most favourable horizon for high grade gold mineralization is the lowermost laminated silty limestone where it is intersected by one of the gold carrying Walker Lane structures. This highly prospective zone has never been explored as no hole on these claims has ever been drilled deeper than 600-ft.
Hole BX-1C – Target: Large Jasperoid Body With Drill Intercept of 10-ft. of 7 oz. gold/ton
A large jasperoid body which is over 1000-ft. (300m) long and 150-ft. (50m) wide, contains narrow zones of high grade gold, with surface samples up to 0.353 oz. gold/ton (12g gold/tonne). A vertical hole drilled by Homestake Mining in 1984 intersected 10-ft. of 6.998 oz. gold/ton (240g gold/tonne), another hole intersected 1.60 oz. gold/ton (55g./tonne) over 5-ft. (Similar gold bearing jasperoids occur over the ore bodies in the Carlin area). The wide spread and high grade gold values found in the jasperoid body are indicative of a very strong hydrothermal system. The main silty limestone horizon is projected to occur between 1200-ft. and 1800-ft. (360 to 550m) depth. Hole BX-1C will intersect the centre of the system at a depth of about 1500-ft.
Hole BX-2C – Target: Large Jasperoid Body With Drusy Quartz, Barite Veins
A second jasperoid body occurs on the same mineralized structure about 2500-ft. to the southeast. The jasperoid contains strong drusy quartz, barite veining and anomalous gold values of up to 2.85g/ton gold (0.083 oz/tonne gold). The lower laminated silty limestone horizon is thought to occur between 1100 and 1700-ft. (335-520m.) depth.
DRILLING CONTINUING IN JANUARY 2007:
Ralston Valley Project
The next holes will be on Golconda’s 100% owned Ralston Valley claims and are the follow-up of the 2004 drilling. The RV Claims cover the extension of the gold bearing structures of the Baxter Springs area. Targets will be the down dip extension of an anomalous gold zone intersected in Hole RV-13 and the second gold mineralized structure. The drill program will then continue with other Golconda properties being subsequently tested.
Merger Property (Silver Prospect – GA – 35% Interest)
The Merger Project had only one hole drilled into the main zone, which is a stockwork ridge about 2000-ft. (600m) long. The hole, drilled in 1981, intersected 15-ft. of 5.88 oz. silver/ton (4.50m of 202g. silver/tonne) and below that a stockwork vein system for 371-ft. (113m) of 1 oz. silver/ton (34g. silver/tonne). At 756-ft (230m), the end of the hole, the stockwork and the silver still continued. It is thought that this zone is the upper part of a bonanza vein type boiling horizon with potential for high grade silver values in the next 200-ft. (60m) below. The planned holes here will be 1000ft. deep.
4-Aces Property (GA – 80%)
The 4-Aces Property will then be tested. Zinc, silver, and lead mineralization occurs in a skarn over more than 3000-ft. (900m). The property has never been drilled and the deepest working went down to the water table at 150-ft. (45m).
On behalf of Golconda Resources Ltd.,
Guenter J. Liedtke, President
For more information please contact Guenter Liedtke Ph: (403) 232-6828 Fax (403) 232-8650 e-mail: golcondaresources@telus.net web site: http://www.golcondaresources.com/
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
News Release
Golconda Closes $1,100,000 Private Placement
On April 12, 2006, Golconda
announced a proposed Non-Brokered Private Placement of 5,000,000 common shares
at a price of $0.20 per share with attached non-transferrable 2,500,000 warrants
to purchase an additional 2,5000,000 common shares at a price of $0.30 per share
for a twelve (12) month period.
The private placement has been increased
to 5,500,000 common shares and 2,750,000 warrants with the same
conditions.
Lyncorp International, a company controlled by Dave Mullen,
has subscribed for 2.5 million shares with warrants for 1.25 million shares.
After exercise of the warrants, Dave Mullen will control directly or indirectly
13.9% of the company.
A finders fee will be paid to Wolverton Securities
Ltd, which provided to the Company $200,000 in total gross proceeds through the
placement of 1,000,000 units. Golconda will pay a finders fee of $14,000 (7% of
the 200,000) and issue 70,000 Broker Warrants (7% of the units subscribed
for).
The proceeds from this private placement, which is subject to
regulatory approval, will be used to settle current debt, for working capital
and for drilling on Golconda's Nevada Gold and Silver Projects.
On behalf
of Golconda Resources Ltd.,
"signed"
Guenter J. Liedtke,
President
For more information please contact
Guenter Liedtke - Ph:
403.232.6828
Fax: 403.232.8650
E-mail: golcondaresources@telus.net Website: http://www.golcondaresources.com/
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
News Release
Golconda Announces $1,000,000 Private Placement
Golconda Resources Ltd.
announces that it will make a private placement of 5,000,000 units at a price of
$0.20 per unit, for proceeds of $1,000,000. Each unit consists of one common
share of Golconda and one-half of a non-transferrable common share purchase
warrant.
Each warrant will allow the subscriber to purchase one common
share of Golconda at $0.30 for a period of twelve (12) months from
issuance.
The proceeds from this private placement, which is subject to
regulatory approval, will be used to settle current debts, for working capital,
and for drilling on Golconda's Nevada Gold and Silver Projects.
Lyncorp
International Inc., a company controlled by David Mullen will subscribe for 50%
of the private placement, being 2.5 million shares and warrants for 1.25 million
shares. David Mullen, who controls now directly or indirectly about 9.5% of the
company's shares, will increase his share holdings to about 15.1% if the
warrants are exercised.
Insiders might subscribe to less than 5% in the
private placement.
Golconda plans to carry out exploration programs on
the following Nevada properties:
Ralston Valley (GA - 100%
interest)
Carlin type gold mineralization occurs in a shale-limestone
sequence. Drilling will follow-up on gold mineralized intersections in two holes
drilled by Golconda in 2004. These holes were 150-200 meters off the projected
mineralizing structures. Three 1200 ft. holes are initially
planned.
Golconda also has acquired the right to earn a 70% interest in
42 adjoining claims. Two gold mineralized jasperoid zones indicate the
possibility of Carlin type gold mineralization at depth. Surface samples run up
to 0.350 oz. gold/ton and Homestake Mining intersected 10 ft. of 6.99 oz.
gold/ton in drilling the upper part of one of the jasperoids. The favourable
"laminated silty limestone" sequence is estimated to occur at a depth of 1500
ft. No drillhole in this area has exceeded a depth of 600 ft. One hole will be
drilled to a depth of 1750 ft.
South Monitor (GA - 80%
interest)
Three (3) holes are to be drilled to a depth of 600 ft. each to
test a large area of hydrothermal clay alteration. Holes at the edge of this
area showed silicification with low gold values starting at a depth of about 300
ft.
The target is gold mineralization of the Round Mountain type in
potassic altered rock.
Monitor Flat (GA - 100%)
In 2003, drilling
intersected anomalous gold values in four (4) widespread holes in volcanics
overlying a shale-limestone sequence. The holes went to a depth of 400 to 600
ft. with low gold values continuing to the bottom of each hole. Three one
thousand ft. holes are planned to test the gold mineralization at
depth.
Golconda can earn a 35% interest in one silver prospect (Merger)
and an 80% interest in silver zinc lead prospect (4-Aces). Surface sampling will
be carried out to better define the mineralized areas before drilling.
On
behalf of Golconda Resources Ltd.,
"signed"
Guenter J. Liedtke,
President
For more information please contact
Guenter Liedtke - Ph:
403.232.6828
Fax: 403.232.8650
E-mail: golcondaresources@telus.net Website: http://www.golcondaresources.com/
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
APRIL 4, 2006
News Release
Drilling Update and Acquisition of New Property
Shulin Lake - Alaska - GA -
51%
The joint venture drilled four holes during the winter season in
search for the diatreme which is the origin of indicator minerals and
microdiamonds found in earlier surface and drill samples.
Two holes went
through 200 ft. of volcanic ash into underlying sandstone. The third hole caved
in at 313 ft. depth being still an unconsolidated sand, gravel and boulders. A
layer of welded tuff within this unusual sequence (a rock type which has never
been encountered before) indicates the close proximity to the source of the
volcanic rock. Hole four caved in at 200 ft. depth.
Samples from the
volcanics in Hole No. 3 will be tested for diamonds and indicator
minerals.
Wapawekka - Saskatchewan - Massive Sulphides - GA -
51%
Two holes were drilled from the ice on Wapawekka Lake to test
airborne electromagnetic anomalies. Hole WWL-1 was drilled to a depth of 1210 ft
(369m) and intersected a "layered gabbro complex". The anomaly was caused by
overlying clayish lake sediments.
In the summer of 2005, drilling
intercepted a narrow zone of massive sulphides with low copper-zinc values at
the beginning of an electromagnetic anomaly. The highest part of the anomaly
occurs about 1 km. inside of Wapawekka Lake. Hole WWL-2 positioned to test this
part, reached a depth of 703 feet (215m) when the drilling machine had to be
moved off the ice due to deteriorating weather conditions.
The hole
intersected the same metavolcanic sequence, which had been intersected last
summer, but had to be abandoned before the massive sulphide horizon could be
reached. The anomalies will have to be tested at a later stage.
4 Aces -
Nevada - Lead, Zinc, Silver
Golconda Resources Ltd. entered into an
option agreement with a private party to earn a 60% interest in a lead, zinc,
silver prospect in Esmeralda County, Nevada, by occurring exploration
expenditures of US $500,000 over 5 years and making property payments of US
$10,000 annually. Golconda can increase it's interest to 80% by producing a
bankable feasibility study.
Lead, zinc, and silver mineralization occurs
in a 100-200m (300 to 600 ft.) thick limestone band which is sandwiched within a
granite for a distance in excess of 2 km. (6500 ft.). The limestone band is
inclined at 60o and the mineralization occurs in shoots within the footwall of
the limestone.
The property has never been drilled, old workings do not
go deeper than 200 ft. and only limited mining of high grade ore shoots has been
carried out.
The vertical dimension of the limestone and the
mineralization is unknown. When compared to the length of over 2 km. of the
limestone band, it can be assumed that the depth is greater than the 60m (200
ft.) attained in the deepest workings.
Golconda believes that the largest
potential of the property lies below the 200 ft. level given the fact that the
mineralizing solutions came from the depth of the intruding granite. The strong
increase in silver and zinc prices makes the exploration of this property very
attractive.
A sampling program to establish the extent of surface
mineralization will be guiding the planned drill program.
Golconda holds
various interests in four other gold-silver prospects along in the Walker Lane
trend in Nevada. All are in an advanced stage with gold-silver encountered in
previous drillings and a major drill program scheduled for 2006.
On
behalf of Golconda Resources Ltd.
"signed"
Guenter J.
Liedtke,President
For more information please contact
Guenter Liedtke - Ph:
403.232.6828
Fax: 403.232.8650
E-mail: golcondaresources@telus.net Website: http://www.golcondaresources.com/
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
News Release
Ralston Valley, Nevada - GA -100% Interest
Golconda Resources Ltd.
has entered into a joint venture agreement with two arms-length private parties
whereby Golconda can earn a 50% interest in 42 claims by spending US $ 400 000
in exploration over 5 years, and making payments of US $ 5000 per year. Golconda
can earn an additional 20% by producing a bankable feasibility study within 5
years after electing to do so. The claims border on Golconda's RV claims and
cover the continuation of the two gold mineralized structures being explored by
Golconda. The target is Carlin-type gold mineralization and the favourable
laminated silty limestone sequence is thought to occur at a depth of 1500 to
2000 ft on the new property, and at a depth of 700 to 1200 ft on Golconda's RV
claims.
South Monitor, Nevada - GA - 80% Interest
A major mining
company is reviewing the technical data on the South Monitor property. Golconda
is contemplating a farm out if the interest continues after studying the data,
and if a favourable agreement can be struck.
Wapawekka,
Saskatchewan
Golconda Resources has amended the agreement whereby a third
party can earn a 30% interest in the Wapawekka claims by spending one million
dollars in exploration. The new agreement gives the third party the right to
earn an additional 19% for a total of 49% interest by spending an additional
$750 000, for a total of $1.75 million in exploration.
Drilling is
expected to start up again at the beginning of February.
Guenter 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.
Guenter J. Liedtke, President
For more information please contact
Guenter Liedtke - Ph:
403.232.6828
Fax: 403.232.8650
E-mail: golcondaresources@telus.net Website: http://www.golcondaresources.com/
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
Suite 780, Eau Claire Place II 521 – 3rd Avenue S.W. Calgary, AB T2P 3T3
JANUARY 5, 2006
News Release
Work Commences at Shulin Lake, Alaska; Granting of Options
Golconda Resources Ltd.is
pleased to announce that due to early cold weather, work on the Shulin Lake
diamond prospect will begin sooner than expected. A bulldozer and a hoe will be
moved to the site where a circular magnetic anomaly with a 1 km diameter is
superimposed on a circular swampy area, possibly reflecting the centre or pipe
which is the origin of volcanic rock that includes diamond indicator minerals
and diamonds found in earlier drilling in the proximity of the
anomaly.
Several trenches and pits will be dug through the glacial
overburden which is expected to be relatively thin here. Diamond drilling to
test the material at greater depth will follow. Golconda holds a 51% interest in
the property.
Golconda has approved, under the Company's Incentive Stock
Option Plan, the issuance of 1, 400,000 options. 1, 350,000 of these options to
acquire common shares in the capital of the Company at a price of $ 0.25 per
share for 5 years were granted to directors and officers of the Company. 1,
355,000 options have expired recently.
Golconda's CEO, 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
For more information please contact
Guenter Liedtke - Ph:
403.232.6828
Fax: 403.232.8650
E-mail: golcondaresources@telus.net Website: http://www.golcondaresources.com/
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
DECEMBER 19, 2005
News Release
Ralston Valley, Nevada 'GOLD' - Drilling Plans for 2006
Golconda Resources is
looking for tenders for its initial drill program in early
2006.
Carlin-type gold mineralization 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 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 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 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 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 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, 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
For more information please contact
Guenter Liedtke - Ph:
403.232.6828
Fax: 403.232.8650
E-mail: golcondaresources@telus.net Website: http://www.golcondaresources.com/
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
NEWS
Wapawekka – Saskatchewan
(Base Metals)
Assay results from holes WEL-1 and WEL-2, drilled close
to the Shore of Wapawekka Lake, show a copper-zinc-carrying volcanic sulphide
system.
The conductive zone, identified by an airborne magnetic
survey, starts about 300 m from the
shore of Wapawekka Lake and increases in strength about 350 m into the
lake where it remains strong for about 1.5 km along trend.
Economic base metal and associated gold-silver values
occur generally in the center (highest part) of the anomaly. Hole WEL-1
intersected the beginning of the anomaly. A 1.2 m thick zone with 15% sulphide
assayed 361 ppm copper and 804 ppm zinc. Hole WEL-2 intersected a 0.90 cm thick
zone with 30% sulphides. Cu increased to 859 ppm; Zn assayed 836 ppm. Underlying
narrow stringer sulphides zones averaged 0.14% copper. Assays were carried out
by ALS Chemex of Vancouver.
The marked base-metal increase towards the stronger part
of the anomaly is very promising for this zone, pointing to the possibility of
an economic massive sulphide mineralization. Further drill testing will have to
be done in the winter from the ice.
Shulin Lake
– Alaska (Diamonds)
Diamond drilling of 5 holes in February and March of
2005 to test three magnetic anomalies interpreted as being potential pipes,
again encountered one micro-diamond and diamond indicator minerals in a volcanic
ash sequence. Flat lying beds observed in the drill core led to the
interpretation that the holes were drilled on the apron of a volcanic center.
The search for this center or pipe, during the course of
the summer, concentrated on a circular negative anomaly of about 1 km in
diameter. The anomaly is co-incident with a circular swamp, visible on the
satellite photo. It is interpreted that the swamp is likely due to an underlying
clay-rich rock, possibly associated with the top of a volcanic vent or
pipe.
In the last month, three 6 ft. deep pits were dug within
this area and sampled (each sample weighed approx. 20 lbs.). Although these
samples were taken from glacial till, visual observation of the concentrates
shows green chrome diopsides, kyanite, sapphires, rutile and anatase. These
minerals were regularly observed in earlier samples that recovered
micro-diamonds. Based on the above combined data, it would seem that this area
is the most likely site for the pipe which has produced the diamonds and
indicator minerals found in the past.
The next phase in exploration will be to take a
bulldozer and a hoe that can dig to a depth of 7 m (22 ft) to this area to dig
pits and trenches. This work will begin in February 2006, after the ground is
frozen. The glacial overburden is estimated to be only a few meters thick, so
that prospective pits can easily be dug. Diamond drilling will also obtain
samples from a greater depth. All of the equipment is already on the camp-site
at Shulin Lake.
The project is a joint venture between Golconda (51%),
Shulin Lake Mining Inc. (39.8%), and Shear Minerals Ltd. (9.2%).
Golconda’s CEO, 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.,
Guenter J. Liedtke, President
E-mail: golcondaresources@telus.net Website: http://www.golcondaresources.com/
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
780, 521 – 3rd Avenue SW Calgary, AB, T2P 1C2 Ph: (403) 232-6828 Fax: (403) 232-8650
October 25, 2005
N
Copper-Zinc Mineralization
Intersected at Wapawekka, Saskatchewan
Golconda Resources Ltd. is pleased
to announce that a drill program to test several anomalies outlined by an
airborne survey flown in April, 2005 over its Wapawekka property intersected
copper-zinc sulphide mineralization in a zone parallel and about 500 m distant
from the massive sulphide zone intersected in 2001 by three drill-holes. That
zone showed an estimated true thickness of over 20m in hole WAE-2.
This year’s drill program tested four of the thirteen anomalies –outlined by the airborne survey– with two diamond drill-holes each.
The first three anomalies are situated in the northwestern part of the property and are regionally-developed parallel sulphide zones that can be traced for a distance of over 8 km. Elevated copper-zinc values in anomaly One and elevated platinum values in several pyrrhotite (iron-sulphide) zones in anomaly Three warrant further drilling along the trend.
The fourth anomaly that was
drill-tested is situated in the northeastern part of the property. It starts
about 300 m away from Wapawekka Lake and runs to the northeast into the lake.
The anomaly becomes considerably stronger about 350 m into the lake and stays
strong for about 1500 m.
- Hole
WEL-1 intersected, at 305 m depth, a 3.20 m thick exhalite zone consisting of
cherts, silica sinter and a 1.20 m thick zone of laminated and disseminated
sulphides (approximately 15%) with visible scarce chalcopyrite (copper) and
sphalerite (zinc).
- WEL-2
was drilled 140 m to the northeast as close to the shore of Wapawekka Lake as
possible. At 219.60 m depth it intersected a 0.90 m-thick zone of semi-massive
and disseminated sulphide (approximately 25%) with a much higher content of
copper and zinc sulphides. WEL-2 also intersected, from 360m to 395m, numerous
quartz-calcite veinlets containing pyrrhotite and chalcopyrite. This zone
could form part of the feeder system.
The
strong increase in the copper and zinc content from WEL-1 to WEL-2 and
continuing towards the higher values of the anomaly that start 350 m into the
lake, as well as the great thickness of the parallel zone drilled in 2001, give
this sulphide zone an excellent potential to contain economic massive sulphide
mineralization.
A private party that can earn a 30% interest in the property by spending 1 million dollars is financing the exploration. Permits for winter drilling on the ice are being applied for. Samples have been sent to ALS-Chemex Labs in Vancouver and will be released when available.
Guenter Liedtke is the designated qualified person
responsible for exploration on the project under NI 43-101.
On behalf of Golconda Resources Ltd.,
Guenter J. Liedtke, President
E-mail: golcondaresources@telus.net Website: http://www.golcondaresources.com/
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
Suite 780, Eau Claire Place II 521 – 3rd Avenue S.W. Calgary, AB. T2P 3T3
NEWS RELEASE
Shulin Lake - Diamond and Wapawekka - Massive Sulphide Updates
Golconda
Resources Ltd. is pleased to provide an update on the Shulin Lake, Alaska
diamond and the Wapawekka, Saskatchewan base metal programs.
Shulin
Lake, Alaska
One white,
transparent diamond fragment has been recovered from sample B3 - drillhole 25.
The dimensions of the diamond are 0.46 x 0.26 x 0.14 mm.
Nine
samples obtained from drilling of three different magnetic anomalies had been
sent to SGS Lakefield Research Ltd. The other 8 samples did not contain any
diamonds. The samples had a total weight of 2400 kg and consisted of volcanic
tuffs. The results thus far indicate that different phases of tuff exist, of
which at least one phase is closely associated with diamonds.
Golconda,
as operator of the joint venture, is currently devising a program that will
determine the origin of the diamondiferous tuff phase, which the company
believes is not more than two or three km from the tested areas. Three different
anomalies could potentially be the origin of the diamondiferous
tuffs.
The Shulin Lake project is a joint venture between Golconda (51%), Shulin Lake Mining Inc., a private company (39.8%), and Shear Minerals Ltd. (9.2%).
Wapawekka,
Saskatchewan
Golconda
is drill-testing three conductive zones outlined by an airborne Geotem survey.
These zones are being drilled to determine if the conductors are caused by
graphitic horizons or by more extended horizons associated with volcanic-hosted
massive sulphide mineralization. The first anomaly tested by holes WW-1 and WW-2
showed a 2 m – wide zone containing about 15 to 20% sulphides; pyrrhotite,
pyrite, chalcopyrite (copper sulphide) and sphalerite (zinc sulphide) were
observed. The highest part of this anomaly, indicating the potential occurrence
of a thicker massive sulphide zone, lies about 3km to the south. This area
cannot be reached at this time due to swampy conditions, but the area could dry
up later in the year.
The second
conductive zone has also been found to be caused by a sulphide exhalative zone
(hole WW-3). The area of the highest anomaly along this zone, about 1.9 km to
the south of WW-3, has sufficiently dried out and is being drill-tested by hole
WW-4 – which is currently in progress.
Exploration is being financed by a private party which can earn a 30% interest in the property by spending $1 million in exploration.
Guenter Liedtke is the designated qualified person responsible for exploration on the projects under NI 43-101
On behalf of Golconda Resources Ltd.,
Guenter J. Liedtke, President
For more
information please contact Guenter Liedtke - Ph: 403.232.6828 Fax: 403.232.8650
e-mail: golcondaresources@telus.net website: http://www.golcondaresources.com/
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Suite 780, Eau Claire Place II 521 – 3rd Avenue S.W. Calgary, AB. T2P 3T3
May 26, 2005
NEWS RELEASE
Drilling Starts at Wapawekka,
Saskatchewan
Wapawekka, Saskatchewan (base metals
+ gold/silver)
A diamond drilling machine has
arrived at the Wapawekka property in Saskatchewan. Initially the drilling will
test three high-priority electromagnetic conductors on the western part of the
property. The anomalies were outlined by an airborne electromagnetic survey
carried out by Fugro Airborne Surveys of Ottawa in April.
Earlier drilling by Golconda
intersected a massive sulphide zone on the eastern part of the property. This
zone was followed by drilling for over 600 meters and had intersected massive
sulphides with a true thickness of over 20 meters in hole WAE-2. The sulphides
showed anomalously high copper, zinc, gold and silver values. The anomalies
which are now being drilled show very similar values as the ones over hole
WAE-2.
Golconda staked three additional
claims for a total of 6708 hectares after the airborne survey showed that
potentially interesting anomalies are underlying these areas.
The work is being financed by a
private company that can earn a 30% interest in the property by spending a total
of one million dollars in exploration on the property.
Golconda also staked, in conjunction
with 830982 Alberta Ltd. (50 % each) - an at arms length private company, a 4968
ha large claim to the east of the Wapawekka block.
Guenter
Liedtke and Gerhard Jacob are the designated qualified persons responsible for
exploration on the project under NI 43-101.
On behalf of Golconda Resources
Ltd.,
Guenter J. Liedtke, President
For more information please contact
Guenter Liedtke - Ph:
403.232.6828
Fax: 403.232.8650
e-mail:
golcondaresources@telus.net website: http://www.golcondaresources.com/
The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or accuracy of
this release.
April 14, 2005
NEWS RELEASE
Update on Golconda’s Exploration
Programs
Shulin Lake, Alaska (diamonds)
The joint venture has sent 2,020 kg of material to SGS Lakefield to test for diamonds. The samples are derived from drilling two of the three sub-anomalies, which together are interpreted as forming a large complex volcanic centre. Samples from the third anomaly, estimated to weigh about 500kg, are being sent to Lakefield next week. Golconda has a 51% interest in the property, Shulin Lake Mining Inc., a private company, has 39.8%, and Shear Minerals Ltd. has a 9.2% interest.
Wapawekka, Saskatchewan (base metals
+ gold/silver)
Fugro Airborne Surveys of Ottawa has just completed an airborne electromagnetic survey, employing the GEOTEM method, which can detect massive sulphide bodies under thick sand cover. Golconda’s prior drilling has encountered a large massive sulphide body that will serve as a reference to other anomalies detected by the survey. While a detailed interpretation of the flight data is underway, the preliminary data already indicates some anomalies that seem to represent massive sulphide bodies. Permits for a major drill program have been received, with drilling to start in May. A third party can earn a 30% interest by spending $ 1 million dollars in exploration.
New Acquisitions
Golconda Resources Ltd. and Cook
Exploration Corp. have entered into an option agreement with Pacific
Intermountain Gold Corp., a 100% subsidiary of Seabridge Gold Inc., to earn a
combined interest of up to 70% in the Merger Property in Nye County Nevada, 70
km east of Tonopah. Golconda and Cook Exploration can earn a 50% interest by
spending a total of $1million in exploration before February 28, 2010, and
making a US $ 750,000 payment within ten days after completion of its
expenditures. Both companies can then earn another 20% by producing a
feasibility study on or before February 28, 2014.
The Merger property consists of 49
unpatented claims for a total of 1,000 acres (400 ha), and an additional 18
claims (360 acres, 144 ha) that cover a gold-silver mineralized area about 3km
to the northwest and on trend of the Merger property. Due diligence by Golconda
showed a distinct gold/silver zonation, with gold dominating on the western part
of the property (up to 1.765 oz/ton gold on a 3 ft sample) and silver (up to
35.37 oz/ton on a 3ft sample) on the eastern part. Apart from the high grade
vein-type mineralization, there is a very strong extensive zone of
silver-dominated stockwork-type mineralization that has the potential for a
large bulk tonnage deposit.
Golconda believes that the
gold-silver prices will increase substantially in the near future, and for that
reason sees the advantage of acquiring high quality gold-silver
properties.
On behalf of Golconda Resources Ltd.,
Guenter J. Liedtke, President
For more
information please contact Guenter Liedtke - Ph: 403.232.6828 Fax: 403.232.8650
e-mail: golcondaresources@telus.net website: http://www.golcondaresources.com/
The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or accuracy of
this release.
March 9, 2005
NEWS RELEASE
Update on Shulin Lake, Alaska Diamond Project
Reinterpretation of our airborne
magnetic survey showed three magnetic anomalies as the main target of our drill
project. These anomalies seem to be part of a larger volcanic centre.
Two of these anomalies have now been
drilled to a depth of 301m and 332m, respectively. The drill core will be moved
this week from the property and shipped to Lakefield Laboratories to be tested
for diamonds.
The rock encountered in the drill holes contained the same material that also made up part of the sample from holes 10 and 22. These samples contained the previously discovered diamonds and indicator minerals. The drill rig has now been moved to the third target and drilling has commenced.
Guenter Liedtke and Gerhard Jacob are the designated qualified persons responsible for exploration on the project under NI 43-101.
The project is a joint venture
between Golconda (51%), Shulin Lake Mining Inc., a private company (39.8%), and
Shear Minerals Ltd. (9.2%).
On behalf of Golconda Resources
Ltd.,
Guenter J. Liedtke, President
For more
information please contact Guenter Liedtke - Ph: 403.232.6828 Fax: 403.232.8650
e-mail: golcondaresources@telus.net website: http://www.golcondaresources.com/
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
GOLCONDA
RESOURCES LTD.
NEWS
RELEASE
Major
Drill Program to Start Immediately on Diamond Property at Shulin Lake,
Alaska
Technical advances on the property last year include the recovery of G-9 pyropes and megacryst garnets that, together with other indicator minerals found in the preceding years, show a mainstream diamond source of likely eclogitic origin.
The project is a joint venture between Golconda (51%), Shulin Lake Mining, a private company (39.8%), and another company holds 9.2%. Guenter Liedtke is the designated qualified person responsible for exploration on the project.
On behalf of Golconda Resources Ltd.,
Guenter J.
Liedtke, President
For more information please contact Guenter Liedtke - Ph: 403.232.6828 Fax: 403.232.8650
The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
December 17, 2004
New Indicator Minerals and Geophysics Reveal
Greater Diamond Potential on Alaskan Property
Airborne Magnetic Survey
A recent re-evaluation of the airborne magnetic survey flown over the Shulin Lake, Alaska property revealed numerous intrusive-style magnetic anomalies, both small stocks or pipes and dikes. Therefore, it is significant that hole 22, drilled in March of this year, was situated at the rim of one of these pipe-like features outlined by the magnetic survey. Material from this hole recovered three micro diamonds (see news release from October 6, 2004) in an 8kg sample. Further samples from this hole (22) and the two nearest holes (17 & 20) have been sent for caustic dissolution and diamond testing. Results are expected in early January.
Diamond Indicator Minerals
Purple and orange garnets were observed while inspecting the fusion residues from the samples submitted for micro diamond testing, and were sent to R. L. Barnett, Geological Consulting Inc., for microprobe analysis. Five purple garnets submitted were G-9 garnets and twelve orange garnets were high magnesium pyropes (19-20% MgO), with high titanium content indicating a strong eclogitic component. Of particular importance is that a low manganese content shows that these fall into the field of diamond-associated garnets (diamond-associated garnets are those included in diamonds, occurring in diamond-bearings samples, or occurring inside the diamond stability field). Also, the calcium/chrome ratio is that of garnets associated with diamonds and not with graphite. The geochemistry of the garnets compares well with other eclogitic-dominated diamond systems.
Although diamond inclusion chromites and other indicator minerals had been detected by microprobe before, this is the first time that pyropes have been found on the Shulin Lake property. This is likely due to the fact that hole 22 is drilled into the pipe-like anomaly. The pyropes and the pipe-like anomalies detected by the recent re-evaluation of the magnetic survey are the last two pieces of the puzzle needed to confirm the excellent diamond potential of the property.
The company is excited about the progress made of late, with further results expected in early January and a major drill program planned to start in February, 2005.
The project is a joint venture between Golconda (51%), Shulin Lake Mining, a private company (39.8%), and another company holds 9.2%. G. Liedtke and G. Jacob are the designated qualified persons responsible for exploration on the project.
On behalf of Golconda Resources Ltd.,
Guenter J. Liedtke, President
For more information please contact
Guenter Liedtke - Ph:
403.232.6828
Fax: 403.232.8650
e-mail: golcondaresources@telus.net website: http://www.golcondaresources.com/
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
NEWS RELEASE
Golconda Updates Drilling at Wapawekka,
Saskatchewan
The drill program at Golconda Resources Ltd.’s Wapawekka / Wert Lake project is now completed for the 2004 season.
The program consisted of four drill holes (total footage of 1195m (3919 ft)). The drilling tested Anomaly Four, the central anomaly out of seven on-strike magnetic anomalies. Anomaly One and Anomaly Seven each intersected the center part of massive sulfide bodies with elevated copper, zinc, silver and gold values, and will be followed up during next year’s summer program to test for economic grades in the centre of these systems. The four holes which tested Anomaly Four intersected the same zone which contains the massive sulfide lenses in Anomaly One.
Samples from holes D-3 and D-4 were sent to ALS Chemex in Vancouver, BC for assaying for gold, platinum, palladium, silver and 26 other elements. D-3, a short hole drilled to a depth of 118m (386ft), reached the basement at 90m (296ft). The first 6m, from 90-96m (296-316ft), showed anomalous gold values of up to 211 ppb, high potassium values, thin quartz veining and strong oxides. The rest of the hole intersected a gabbro. A step-out hole to intersect the complete zone is planned for 2005.
D-4 intersected a 21m (70ft) wide zone of disseminated sulfides (sulfides also occur on fractures and in veinlets), banded chalcedonic quartz veinlets, and zones of hydrothermal microbrecciation. Results are expected soon.
About the
Wapawekka / Wert Lake Project
The property, which is situated about 35 km southeast of La Ronge, has a size of 15 000 ha (37 500 ac). A third party group of private investors can earn a 30 percent interest in the property by spending one million dollars in exploration on the property (see news release of October 18, 2004).
In 2001 Golconda intersected a large massive sulfide lens. In 1990, about 15km to the west, a company intersected 17 m of semi-massive sulfides. Both carry copper, zinc, gold and silver values.
An airborne survey in April showed five similar anomalies along the same horizon. The just-completed first phase of the one million dollar program tested Anomaly Four. Anomaly Two will be tested when Golconda and their partner resume drilling early in 2005.
G. Liedtke and G. Jacob are the designated qualified persons responsible for exploration on the project. Results from hole D-4 will be reported when received.
On behalf of Golconda Resources
Ltd.,
Guenter J. Liedtke, President
For more information please contact
Guenter Liedtke - Ph:
403.232.6828
Fax: 403.232.8650
e-mail: golcondaresources@telus.net website: http://www.golcondaresources.com/
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
GOLCONDA RESOURCES LTD.
Suite 780, Eau Claire Place II 521 – 3rd Avenue S.W. Calgary, AB. T2P 3T3 October 18, 2004NEWS
RELEASE
Drilling
Starts at Wapawekka, Saskatchewan
Golconda Resources Ltd. is pleased to announce that a diamond drill program is starting tomorrow on its Wapawekka/Wert Lake Project. The property is situated about 35 km southeast of La Ronge Saskatchewan.
The drillprogram will be financed by a third party group of private investors, who can earn a 30% direct interest in the Wapwekka/Wert Lake claims by spending 1 million dollars in exploration on the property.
A diamond drill program carried out by Golconda in 2001 intersected a large massive sulfide lens of magnetic pyrrhotite for a distance of about 600 m. Width of the massive sulfide lens, and values of copper, zinc, gold and silver, increased markedly along strike toward the southwest. Deteriorating base metal prices at that time made further exploration unattractive. Recent increases, especially in copper and precious metal prices, shifted Golconda’s focus back to this property.
In May, Goldak Airborne Surveys carried out a magnetic survey for Golconda over the property. Results showed that the massive sulfide lens intersected by Golconda appears to continue for another 1.2 km to the south, with the magnetic values increasing in that direction.
About 15 km to the west, a drill hole brought down in 1990 by a different company intersected 20 m of semi-massive pyrrhotite with anomalous copper, zinc, gold and silver values. This hole clipped the outer edge of another anomaly similar to the one Golconda has drilled.
The airborne survey map shows another five similar anomalies in between the two confirmed massive sulfide lenses (see magnetic map on Golconda’s website for details). Two of these anomalies will be the first targets of this drilling program.
The large size and number of these anomalies give the property a substantial tonnage potential. The increase in base and precious metal values encountered in the 2001 drilling over a distance of 600 m (highest values were: copper 0.1%, zinc 0.42%, gold 47 ppb, and silver 2.2 ppm) is very important as Golconda drilled only the tail end (600m) of a 1.8 km long anomaly.
Gerhard Jacob and Guenter Liedtke are the qualified persons on the project.
On behalf of Golconda Resources Ltd.,
Guenter J. Liedtke, President
For more
information please contact Guenter Liedtke - Ph: 403.232.6828 Fax: 403.232.8650
e-mail: golcondaresources@telus.net website: http://www.golcondaresources.com/
The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or accuracy of
this release.
October
06, 2004
NEWS RELEASE
Drilling
discovers diamonds at Shulin Lake, Alaska.
Golconda Resources Ltd. and its joint venture partners are pleased to announce that they have received test results from this year’s drilling program on the Shulin Lake property in Alaska.
Five holes were drilled (DSL 18 - DSL 22) from which 19 selected samples were sent to SGS Lakefield Research Limited for caustic fusion and diamond recovery. Each sampled weighed up to 8 kg. Three micro diamonds were discovered which have the following dimensions: (0.66x0.43x0.41 mm) (0.29x0.20x0.10 mm) and (0.17x0.14x0.08 mm). All diamonds are white, transparent and fragments with the largest diamond showing some crystal faces.
The diamondif