Consolidated Goldfields has reported the assay results of the reverse circulation (RC) drilling, which was commenced during October 2011 at the Cahuilla project, California. This project is a paleo-hot springs, large epithermal gold-silver system, which has several high-grade veins existing in a widely dispersed gold-silver mineralized body.
The company has drilled 15 holes and has assayed the primary six holes. The initial goal of this drilling is to extend the prominent mineralization of gold and silver that were outlined during previous drilling. The company drilled primary six holes over a 220 m strike along the borders and in prominent mineralization regions. Inspectorate Laboratory in Nevada assayed the RC samples. The project geologist, Mr. Paul Stubble, gathered and sent the samples for analysis to Inspectorate Laboratory in Nevada.
Consolidated Goldfields intersected 1.06 g/t gold over 21.4 m, 0.58 g/t gold over 13.7 m and 0.72 g/t gold over 41.2 in hole CAH-127, 0.99 g/t gold over 91.5 m in hole CAH-128, 1.18 g/t gold over 34.4 m, 0.48 g/t gold over 20.1 m and 0.41 g/t gold over 45.7 m in hole CAH-129, 28.6 g/t gold over 1.5 m, 10.3 g/t gold over 9.1 m in hole CAH-130, 3.77 g/t gold over 1.5 m in hole CAH-131, 0.48 g/t gold over 68.6 m in hole CAH-132.
Five drill holes out of six found anomalous mineralized gold at the bottom. Drilling of at least 100 holes has been planned by the company and by Teras Resources during this phase of the campaign.