GOLD CHAIN PROJECT
Project
Gold Chain property consists of eight claims that have the potential of hosting open pittable reserves as evidenced by previous drilling such as 10.7 m of 2.2 g/t gold and 59.5 meters grading 0.34 g/t gold.
Gold Chain property consists of eight claims that have the potential of hosting open pittable reserves as evidenced by previous drilling such as 10.7 m of 2.2 g/t gold and 59.5 meters grading 0.34 g/t gold.
Location
The property is located in
Mojave County, 25 miles west–
northwest of Kingman, Arizona USA.
The property is located in
Mojave County, 25 miles west–
northwest of Kingman, Arizona USA.
Property Background
An internal report prepared by director Hugh Squair, PhD. states that the claims are encompassed by a lobate peridotite-gabbro complex within lower Povungnituk strata and situated 15 km south and east of the Cross Lake nickel-copper-sulphide deposit of Falconbridge Ltd.
The Goldchain Claims cover an altered tertiary volcanic target, which has been mapped, sampled and drilled by various operators over the period from 1986 to 1990. Various leaseholders were Fischer-Watt, Anaconda and ACNC (the US subsidiary of Inco) whom carried out diamond drilling and reverse circulation drilling during the above period. Anaconda postulated that 3.2 million tons of 0.015 oz/ton Au maybe present with the resource being open in all directions. This was based upon surface and underground samples and intercepts from four drill holes. Intercepts range from 35 feet of .064 oz/ton gold to 195 feet of .010 oz/ton gold.
The estimate is not in accordance with current CIM definitions and it was not relevant to the Company and its acquisition of the Goldchain property. There is no new data regarding the estimate available to the Company. The Company has not performed any work or study to date to substantiate the reported finding and thus, the information alone should not be relied on for investment purposes.
An internal report prepared by director Hugh Squair, PhD. states that the claims are encompassed by a lobate peridotite-gabbro complex within lower Povungnituk strata and situated 15 km south and east of the Cross Lake nickel-copper-sulphide deposit of Falconbridge Ltd.
The Goldchain Claims cover an altered tertiary volcanic target, which has been mapped, sampled and drilled by various operators over the period from 1986 to 1990. Various leaseholders were Fischer-Watt, Anaconda and ACNC (the US subsidiary of Inco) whom carried out diamond drilling and reverse circulation drilling during the above period. Anaconda postulated that 3.2 million tons of 0.015 oz/ton Au maybe present with the resource being open in all directions. This was based upon surface and underground samples and intercepts from four drill holes. Intercepts range from 35 feet of .064 oz/ton gold to 195 feet of .010 oz/ton gold.
The estimate is not in accordance with current CIM definitions and it was not relevant to the Company and its acquisition of the Goldchain property. There is no new data regarding the estimate available to the Company. The Company has not performed any work or study to date to substantiate the reported finding and thus, the information alone should not be relied on for investment purposes.
