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Colorado Resources Ltd.
Summary
| Project: | KSP Property | |
|---|---|---|
| Deposit: | Inel | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Zinc | |
| Date: | 10/5/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-10-2016: Colorado Resources Ltd. announces an Exploration/Drilling Update report for its Inel deposit at the KSP Property project. Drilling results incl. 64m @ 2.73g/t Au from 92m. COLORADO RESOURCES LTD. (TSX-V: CXO) (“Colorado” or the “Company”) is pl | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Dr. Jim Oliver (Not stated) | |
| ABSTRACT: | COLORADO RESOURCES LTD. (TSX-V: CXO) (“Colorado” or the “Company”) is pleased to announce the assay results from Inel drillholes INDDH16-46 to INDDH16-53 (see Table 1). The 2016 Inel drill program was focused in a 500 m x 600 m area (0.3 km2 ) within the 305.0 km2 KSP Property. The KSP Property covers one of three large (> 100 km2 ) strongly altered and mineralized districts in the Heart of the Golden Triangle. Regional gold stream geochemistry highlights the KSM and Brucejack areas, along with the Snip-Johnny Mtn and KSP areas (see Figure 1). Fifty nine (59) drillholes (totaling 8,861.8 m) were completed at KSP in 2016. The emphasis was on the Inel Area where 53 holes were drilled (see Figure 2). Consistent with the Company’s three previous news releases, Inel drillholes INDDH16-46 - INDDH16-53 returned several high grade gold intercepts, as well as significant broad intercepts at multiple horizons (as noted in Table 1). Adam Travis, Colorado President and C.E.O states: “Our 2016 drill program at Inel has tested on broad centres, approximately 20% of the 1.5 km 2 Inel gold geochemical anomaly. These latest results continue to add to the previously released intercepts with multi-ounce gold values along with broader intervals of multi-gram gold values. This first phase of drilling in 2016 systematically tested portions of the Discovery Trend and southern extensions of the Inel Creek Trend. Overall the 53 drillholes from Inel had a 60% success rate in returning high grade (> 5 g/t Au) gold intercepts. Our drilling in these two zones, along with preliminary surface geological mapping, geophysics and geochemistry highlights six robust sized target zones (see Figure 2). | |
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