Consolidated Goldfields has obtained further assay results from the reverse circulation (RC) drilling conducted at the Cahuilla project, California.
This project includes paleo-hot springs, huge epithermal gold-silver system that has several high-grade veins, which exists in a widely dispersed gold-silver mineralization body.
The company has drilled 23 holes and obtained assay results for 12 holes. Currently, it is performing the RC drill program in two regions, where mineralized gold was obtained previously. The objective of the company is to connect the two precious metal mineralization regions that expand for around 500 m of strike, through drilling between the two zones of mineralization. Inspectorate Laboratory of Nevada has performed the assay of RC samples.
This drill program’s initial goals are to extend the prominent mineralization of gold and silver outlined through former drilling and look for further high-grade veins.
Consolidated Goldfields’ CEO and President, Mr. Marc Andrews, stated that the company is delighted about RC drilling results. It believes that the significant mineral resources of previous metals are increasing considerably at the project. High-grade results of gold obtained from the hole CAH-139 confirm the fact that several high-grade veins are present in the wide envelope of dispersed mineralization system.
A second RC drill rig has reached onsite in order to accelerate the campaign to prepare a latest NI 43-101 resource compliant report for 2012. Harris Drilling of California will perform the drilling program.