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Golconda Gold Ltd GG


Primary Symbol: V.GG Alternate Symbol(s):  GGGOF

Golconda Gold Ltd. is a Canada-based un-hedged gold producer and explorer with mining operations and exploration tenements in South Africa and New Mexico. The Company operates through its wholly owned subsidiary, Galane Gold Mines Ltd., two assets: a producing gold mine which also has the rights to certain mineral exploration tenements (the mine and mineral exploration tenements collectively, the Galaxy Property) located in the Republic of South Africa (South Africa) through subsidiaries located in South Africa, and a gold and silver mine and processing infrastructure located in the United States of America (the Summit Property) that is in care and maintenance. The Galaxy gold is situated approximately eight kilometers (km) west of the town of Barberton and 45 km west of the provincial capital of Nelspruit in the Mpumalanga Province of South Africa. The property covers approximately 58.6 square kilometers (km2) is part of the prolific Barberton Greenstone Belt.


TSXV:GG - Post by User

Bullboard Posts
Post by ice888on Sep 08, 2010 9:33am
545 Views
Post# 17423569

V.PRB JUST HIT GOLD!!!!!!!!!!

V.PRB JUST HIT GOLD!!!!!!!!!!WAY UNDERVALUED NOW !!!!!!!!!!   ITS TIME TO TAKE A LOOK!!!

=======================================================================
Re:   News Releases - Wednesday, September 08, 2010
      Probe Mines Announces Drilling Results for Cree Lake Project,
      Swayze Belt, Northeastern Ontario
=======================================================================

Toronto, September 8, 2010  -- The Directors of PROBE MINES LIMITED
(TSX-V: PRB) ("Probe") are pleased to announce that the Company has
received geochemical results from its first-phase drilling property on
the Cree Lake Project, currently under option from Mantis Mineral Corp
(CNSX: MYN) ("Mantis"), in the Swayze Belt of Northeastern Ontario.  A
total of six holes were drilled testing Mantis' 2009 gold discovery,
comprising a thick (15.5m), near surface, gold zone averaging 2.05 g/t
Au, at depth and along approximately 150 metres of strike length.  All
holes intersected numerous, narrower, zones of gold mineralization
grading up to 8 g/t Au, while Hole CL10-11 returned a five (5) metre
section grading 2.3 g/t Au.  Hole CL10-12 also tested the historical
Flintrock showing and returned a one (1) metre intersection grading 24
g/t Au.

The program was successful in identifying numerous gold zones on the
property and provided considerable geological information.  Although no
thick zones of mineralization were intersected in this program, the
structural data obtained from this program is now being used to
re-interpret the Mantis Zone and determine its probable orientation.
Owing to the widespread occurrences of gold, and a reinterpretation of
the Mantis Zone, the Company is now considering a second-phase program
once a full evaluation of the results has been completed.

Probe is currently earning up to a 70% interest in the Cree Lake
property from Mantis.  The Mantis occurrence represents a new gold
discovery in the Swayze Belt represented by a quartz stockwork system
carrying significant gold values along substantial drill hole widths.
The zone comes to surface and represents excellent open-pit potential
for a gold deposit of the high tonnage, low-grade type.  The property
is situated along the Ridout deformation zone, a 130-kilometer long
structure that hosts past producers such as the Jerome, Tyrranite and
Kenty Mines, as well as numerous gold showings.  The area has received
recent attention with the identification of thick intervals of gold
mineralization by Trelawney Mining on its Chester Gold Project, located
approximately 60 kilometres southeast along strike in the Swayze Belt
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