Following up on the data left us by Kinross (surface geology and drill results) we just completed the first hole in our new surface drilling program. We encountered structures that are nearly identical to those seen in the original bonanza-grade deposit.
Dear Shareholders & Friends,
Phase II of our Golden Wonder drilling program began on August 10th. After a week of mobilizing crews and setting up equipment we started drilling Hole #1 and completed it on or about August 18.
This was a very important hole, albeit expensive due to tough ground conditions, because it serves as the “map” for the following holes. We were encouraged with what we encountered. Hole #1 penetrated what we call the “Three Cabin Fault” which has an orientation consistent with a ring fault in the Lake City Caldera. Ring faults are often preferred sites for mineralization in epithermal, high-grade, gold systems such as ours. If you look at some of the Google Earth pics on our website you can see both the Lake City and Uncompahgre Calderas. The Golden Wonder and the Golden Fleece mines are located in an area where these two calderas converge…also a point of much interest and discussion.
This type of ring fault often serves as conduit for the gold enriched solutions. Could it be the source? We’re cutting the drill core now and we’ll know a lot more when we get the assays back from the lab in a few weeks.
Hole #2 is drilling now and headed deeper into what we hope is the “boiling zone”…the zone of super enrichment we encountered in the original deposit. You can read the full report from our project geologist, Rauno Perttu, by clicking Here
Stay tuned for more news from The Greatest Treasure Hunt in The West! (See the Video)