Juniors Golconda Resources (GA-V) and Shear Minerals (SMR-V) are deepening four reserve-circulation drill holes to test a possible kimberlite pipe at their Shulin Lake property, 75 km northwest of Anchorage, Alaska.
Earlier this year, the pair sank four holes to a depth of 100 metres each. All intruded stratified pyroclastic rocks containing olivine, garnet and chrome diopsides.
Each hole will be deepened by over 100 metres using a diamond drill rig.
Golconda owns a 51% interest in the project. The remainder is divided between a private company and Shear Minerals.
In related news, Golconda will shortly 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 nearby a fault that is thought to have served as a conduit for the mineralizing fluids.
The first four holes planed will be drilled to at least 450 metres below surface.
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