Colorado Resources has commenced a drill campaign at the Red Sky Project, which is a joint venture with Kinross Gold.
This property can be accessed through road and is situated around 150 km to the Williams Lake’s western part and the community of Redstone’s southern part. It has the capacity to have gold-copper porphyry style mineralization that is alike the Prosperity deposit and to house bulk gold mineralization resembling to that identified at Newton property, which is 30 km to the southeast part.
According to the exploration contract signed with Kinross, Colorado is completing the expenditure necessities of $500,000 to finish a 50-50 joint venture earn in.
Colorado previously conducted induced polarization (IP), rock chip and till sampling, magnetometer geophysical surveying and geological mapping program at the Red sky project. These programs outlined a partly exposed chargeability anomaly of 600 x 1,000 m area in an overburden enclosed region from a geochemical anomaly, containing copper, gold, silver and zinc, which were outlined by a comprehensive till sampling program.
The company has started 700 m of drilling of the first four holes, to examine the chargeability anomaly present in a wide glacial covering region.
The President of Colorado has stated that the company is excited to define the government till anomalies of over 5 km to its clear source and this region occurs below a main geophysical anomaly in a cover region. Colorado has performed drill testing at the geophysical anomaly and will show the prospective of the region to contain commercial mineralization.