Golconda drills at Shulin

Juniors Golconda Resources (GA-V) and Shear Minerals (SMR-V) are deepening four reverse-circulation drill holes to test a possible kimberlite pipe at their Shulin Lake property, 75 km northwest of Anchorage, Alaska.

The holes, drilled earlier this year, intruded stratified pyroclastic rocks containing olivine, garnet and chrome diopsides. Each will be deepened by more than 100 metres using a diamond drill rig.

Golconda owns a 51% interest in the project. The rest is divided between a private company and Shear.

In related news, Golconda will begin a diamond drill program at its 90%-owned Lone Peak gold property in British Columbia. Holes will be aimed at copper-silver showings discovered last year in quartzites. The showings lie near a fault that is thought to have served as a conduit for the mineralizing fluids.