PROJECTS

lone peak

wapawekka

ennis lake

peter lake

red lake

south monitor

ralston valley

shulin lake

Golconda holds 117 Claims (2340 acres)  - 100% interest. Carlin Type Gold. Target situated in the Baxter Spring area at the southern tip of the Toquima Range and cover a gold mineralized structural zone parallel to the one explored by Midway Gold to the west of the property. Carlin-type gold mineralization occurs in Paleozoic carbonaceous limestones, shales and siltstones.

On the Carlin Trend, in the Goldstrike subdistrict, a sequence of Paleozoic shales and siltstones overlies beds of laminated silty limestone. Although smaller ore bodies occur in all rock types, 50 million ounces of gold out of a total of 63 million occur in the laminated silty limestone sequence. Furthermore, the great majority of the gold mineralization occurs either in contact or within one kilometer of a Mesozoic intrusion.

In the Toquima Range, the Northumberland Mine, Round Mountain Mine (over 10 million ounces of gold) and the mineralization in the Manhattan and Belmont districts are closely related to Mesozoic intrusions.

In the Baxter Spring area, a sequence of shales and siltstones overlies beds of laminated silty limestones like in the Carlin area. Quartzite and phyllitic shale are thrust over the siltstone and limestone sequence and are preserved on the newly staked eastern part of the claims. The laminated silty limestone capped by the overthrusted rocks borders the Mesozoic intrusion to the east.  In the outcropping area at Baxter Spring, gold mineralization is controlled by high-angle faulting and by the presence of thin limestone beds in the upper siltstone sequence. The lower, laminated, silty limestone sequence does not outcrop.  Drill intercepts of 5 ft. of 6.9 oz Au/ton and 1.6 oz Au/ton and surface samples of up to 4 oz Au/ton come from this area.

Golconda staked the initial claims because silicification, decalcification and drusy quartz-barite veining are increasing towards the gravel covered area to the south of Baxter Spring. The claims were then extended towards the east to cover the projected contact of the limestone with the granitic intrusion. A small outcrop of overthrusted quartzite showing hydrothermal alteration was found in the gravel -covered valley. It is overlying the projected laminated limestone which is the best host rock for the gold mineralization. In addition, the potential for gold mineralization is increased because the overthrusted quartzite-phyllite causes ponding of the hydrothermal solutions in the limestone underneath.

The newly staked claims bring the size of the claim block up to a width of 2.3 km (1.4 mls) and a length of 4.2 km (2.6 mls) which follow the intrusive contact.

Golconda believes that it controls now the most prospective zone in the Baxter Spring area. An application for a drilling permit is being filed.

Drilling at Ralston Valley project.

(click on image to enlarge)

Profile 1
Near outcropping limestone with low grade gold-silver mineralization between samples 1 and 8.

Profile 2
500 m (1500 ft) into valley - sand and gravel cover is about 80 ft deep. Three major mineralized structures appear.

Profile 3
1000 m (3000 ft) into valley - sand and gravel cover is estimated to be 120 ft thick - again values indicate  three mineralized structures.

All samples were taken at 60 m (200 ft) intervals.

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