Concordia Resource Corp. Announces Commencement ofConcordia Resource Corp. Announces Commencement of Albisu Drill Campaign
7/20/2011 8:30:01 AM - Market Wire
VANCOUVER, BRITISH COLUMBIA, Jul 20, 2011 (Marketwire via COMTEX News Network) --
Concordia Resource Corp. (TSX VENTURE:CCN) ("Concordia" or the "Company") is pleased to provide an exploration update on the Company's activities.
The Company has commenced core drilling at its 100% owned Albisu property, a grassroots discovery located in northern Nevada. The drilling has been designed to test potentially mineralized structures along the west side of the extensive low-grade gold mineralization identified in 2008 and 2009.
Concordia plans to drill two, angled core holes to depths of approximately 500 m. One hole will test the northern end of the project area where previous drilling has encountered wide, low-grade intercepts and intensely altered volcanic rocks characteristic of high-level epithermal systems. A second hole will test the structure approximately 1600 m along strike to the south. A third angled core hole of approximately 750 m will test deeper under the better of the two initial holes.
Concordia completed 12 HQ core holes totaling 3575 meters in areas of quartz veining and alteration in the northern part of the project in 2008 and 2009. This diamond drilling intercepted wide low grade intercepts, containing scattered narrower zones of higher grade gold, in intensely altered volcanic rocks in every drill hole. For example, ALB-04 intercepted 12 grams of gold over 1.5 metres from 103.7m to 105.2m and 41 metres from 154.0m to 195.1m that averaged 0.66 g/t gold (Press release October 29, 2008). The gold mineralization and associated alteration are characteristic of high level epithermal systems. The large halo of widespread and continuous lower grade gold along with geochemically elevated intervals of silver, arsenic, cobalt, mercury and molybdenum within hydrothermally altered and brecciated volcanic rocks indicates this has been an active and dynamic system.