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GOLCONDA'S PROPERTY PORTFOLIO

wapawekka  -  south monitor  -  ralston valley  -  shulin lake

Golconda Resources Ltd. explores  for gold-copper-silver in British Columbia ( Lone Peak ), platinum group metals (PGM ) and gold in Saskatchewan ( Peter Lake, Wapawekka and Ennis Lake properties ), gold and silver mineralization in South Western Nevada ( South Monitor and Ralston Valley properties), and for diamonds in Alaska ( Shulin Lake property ).

Wapawekka Property in Saskatchewan

In the Wapawekka region, central Saskatchewan, just north of Golconda's Ennis Lake gold prospect lies a 20 km x 50 km (12.5 x 30 mls.) area characterized by several large circular magnetic anomalies. Geophysical interpretations concluded these anomalies represent layered mafic and/or zoned ultramafic intrusives of Precambrian age. Mafic and ultramafic rocks are the hosts for platinum group metals, nickel-copper-zinc and chromite deposits.

Massive sulfide in 60 m intersection from drill hole number 2.

Gold and Silver Mineralization South Western Nevada

Since 1985 the discovery of blind gold deposits (below a depth a 750 ft.) in the Carlin area made Nevada the third largest gold producer in the world.

Now the area around Tonopah, in south-western Nevada, is more recognized as having the same geological features for large Carlin type gold deposits than the Carlin area itself.

Golconda controls three properties in the Tonopah area of Nevada which have the potential to contain sediment-hosted gold deposits (Carlin type ) in a Paleozoic limestone sequence.

Ralston Valley Prospect in Nevada

Golconda holds 117 claims (2,340 acres) - 100% interest. Gold mineralization in a northwest trending Walker Lane structure cuts Palaeozoic limestone and is parallel to the Midway structure.

Golconda staked part of the gravel-covered valley in 1997 because the areas of drusy quartz-barite veining, silicification and decalcification, although erratic and narrow in the outcropping limestone, become more consistent and attain a width of over 300 meters (1,000 ft) just before the outcrops are covered by gravel.

The drilling intercepted the upper, shaley part of the sequence. Deeper drilling is expected to intercept higher gold values as the lower part consists of laminated silty limestone in the same rock-type which contains the majority of the gold in the Carlin area.

South Monitor Prospect in Nevada

The South Monitor Prospect (80% Golconda - 20% Nassau) is the most advanced of Golconda's Nevada properties.  Five major companies have worked on the property before us.  Nearly all of their work was confined to the low hills at the end of the Monitor Mountain range, where widespread but erratic gold-silver mineralization occurs in the south zone. Golconda discovered two other zones with gold-silver mineralization in the flats adjoining the hills. Blind mineralization means that the gold-silver mineralization starts at depth and the overlying rock contains no gold values. The mineralization is covered by a thick clay blanket and therefore it forms the flat, low-lying areas.

It was Golconda's discovery that consistent and contiguous gold-silver mineralization occurs in the flats under the thick clay blanket, while the mineralization in the hills is erratic.  This discovery changed the economic potential of the property.
The gold-silver mineralization has been followed to a depth of 620 feet, where it is still oxidized. 

The alteration at South Monitor is larger and stronger than the one at Round Mountain and the amount of gold occurring in three distinct areas at South Monitor over a distance of 2 miles, gives the property an excellent potential to contain a large high-grade gold deposit in the underlying limestone.

Although the gold-silver values only occur at a certain depth below the surface, typical alteration patterns and traces of specific other metals can be found in the rocks directly overlying the gold-silver zones.

Gravity map of Tonopah-Goldfield area

Monitor Flats in Nevada

Golconda holds 27 claims (540 acres) -100% interest. The claims are covered by sand and gravel, except for two small hills, each with a diameter of about 50 m (150 ft). These two hills, about 1 km apart, show hydrothermal alteration and anomalous gold, arsenic and mercury values in Tertiary volcanics.

The main attraction of these claims is the potential for high-grade Carlin-type gold mineralization in the underlying Ordovician limestone, which is projected to start at a depth of about 50-60 m (200 ft).  

Diamond Property in Alaska

The Shulin Lake property is located about 75 km north-west of Anchorage - Alaska. It consists of 152 claims for a total of 16,000 acres. At the end of last year Golconda negotiated the acquisition of a 40 % interest in the property which became effective in 2001. Based on the interpretation of the available data Golconda acquired the option to increase its interest to a total of 51 % by spending the next $150,000 in exploration.

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