PROJECTS

lone peak

wapawekka

ennis lake

peter lake

red lake

south monitor

ralston valley

shulin lake

DIAMOND PROJECT

Shulin Lake Project  - 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.
The property lies at the south end of the Yentna - Cache Creek district which is a historic gold-producing placer district with by-product platinum and locally abundant cassiterite, a tin mineral.
The large magnetic anomaly is covered by the Shulin Lake property and is interpreted as a possible gabbroic intrusive (maps below). The area is most likely covered by a thin mantle of Tertiary sandstones. Several Years ago Shulin Lake Mining Inc., a private  company, discovered chrome diopsides in river gravel. A  geologist hired by the company took several samples which were analyzed by Lakefield Resources Ltd.
The samples confirmed, among other indicator minerals, diamond stability field chromites. The number of indicator minerals led to the conclusion that the source of these indicators was nearby. Surfaces samples taken from the property showed a wide-spread distribution of these indicators and pointed to the possible occurrence of several pipes as the source.
A detailed airborne geophysical survey showed numerous very small anomalies. A follow-up ground magnetic survey outlined some vague targets.
In 2001 three drill targets were selected by Shulin Lake Mining Inc. The holes were up to 2 km apart with outcropping sandstone between them.
The holes intersected a rock-type consisting of angular to slightly rounded fragments of phyllite, biotiteschist and quartzite in a fine ground matrix of the same rock, which seem to represent the underlying crystlline basement.
Additionally the rock contains pyroxene, olivine, orange garnets, chromite, ilimenite and other minerals of kimberlitic/lamproitic affiliation which point to the possibility that these targets may represent pipe-like intrusions.

      
               Magnetic anomaly                                         Shulin Lake property (red line)
 

Drilling site with core samples on Shulin Lake project. (click to see bigger images)

In the beginning of February 2002, four reverse-circulation holes were drilled to a depth of 100 m. All holes were still in pyroclastic rocks showing stratification and higher olivine and pyroxene content together with eclogitic garnets and chrome diopside in the lower part of the holes.

Drilling on Shulin Lake project. (click to see bigger images)

Up to the end of 2004 a total of 22 holes have been drilled. Two holes confirmed a total of 20 micro diamonds. Diamond indicator minerals show a favourable chemistry and an interpretation of the airborne data outlined several major targets which could represent pipe-like circular bodies. A major drilling program of US$ 1 million has been planned for early 2005.