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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

Post by beancounton Dec 16, 2015 9:01am
99 Views
Post# 24387605

Mek, GC's partner drilling in Timmins

Mek, GC's partner drilling in Timmins

Metals Creek Resources Corp. Resumes Drilling on the Ogden Gold Project-Timmins, Ontario

TORONTO, ONTARIO--(Marketwired - Dec. 8, 2015) - Metals Creek Resources Corp. (the "Corporation") (TSX VENTURE:MEK) announces the commencement of a 3500 meter diamond drill program on the Ogden Property in the Timmins Gold Camp, Ontario. This program will be comprised of three phases that will be targeting gold mineralization within the Thomas Ogden Zone as well as other near surface targets on the Ogden Property. The Ogden claims cover eight kilometers of strike length of the Porcupine-Destor Break between Goldcorp's Dome Mine and Lake Shore Gold's West Timmins development project. The Ogden Property is held under a joint venture in which Metals Creek owns 50%, and Goldcorp Canada Ltd. ("Goldcorp") owns 50% (as manager and on behalf of the Porcupine Joint Venture, a joint venture between Goldcorp Inc. and Goldcorp Canada Ltd.) with MEK being the operator of the project.

This initial phase will continue to further define and provide a better understanding of the complex structural nature of the Thomas Ogden Zone with what appears to be a strong spatial relationship of higher gold grades in close proximity to fold structures identified from recent drill campaigns. Drilling over the past four years has confirmed that the zone is an easterly plunging alteration zone within the Porcupine-Destor Break and has strong similarities to other deposits along strike. This zone remains open along strike and down plunge.

Highlights from 2013 drilling at the Thomas Ogden Zone included holes TOG 13-25 which returned 12.53 meters (m) of 210.19 grammes per tonne (g/t) Gold (Au) including 0.93 m of 2732.64 g/t Au, and TOG-13-27 which returned 9 m of 49.96 g/t Au including 1.0 m of 434.77 g/t Au. (see press releases dated 22 May 2013 and 10 April 2013 respectively).

Results from this drill program will be released as they are received and the data is compiled.

Michael MacIsaac, P.Geo and VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.

About Metals Creek Resources Corp.

Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has a 8 km strike length of the prolific Porcupine-Destor Fault (P-DF) that stretches between Timmins, Ontario and Val d'Or, Quebec. The Company has also recently entered into a JV with Benton Resources on Metals Creeks Staghorn Gold Project in Newfoundland. Metals Creek has also made a new gold/silver discovery in the "White Gold District" on the Squid East project in the Yukon and is also engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com


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