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Colorado Resources Ltd.
Summary
| Project: | KSP Property | |
|---|---|---|
| Deposit: | Tami, Inel | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Zinc | |
| Date: | 9/14/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-9-2018: Colorado Resources Ltd. announces an Exploration/Drilling Update report for its Tami, Inel deposit at the KSP Property project. Drilling results incl. 50m @ 2.28g/t Au from 171m. VANCOUVER, British Columbia, Sept. 14, 2018 -- Colorado Resources | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Bill Yeomans (Internal) | |
| ABSTRACT: | VANCOUVER, British Columbia, Sept. 14, 2018 -- Colorado Resources Ltd. (“Colorado” or the “Company”) (TSXV – CXO) is pleased to announce diamond drilling results from its 100% owned KSP property located in British Columbia’s prolific Golden Triangle region. As previously announced on July 16, 2018, diamond drilling on the 308 sq. km KSP Property has tested two step-out targets around the historic Inel basin area, including the Big Rock Deformation Zone (BRDZ) to the east, and Inel Zn to the north. Along the Big Rock Deformation Zone (Figure 1), four oriented-core holes tested the continuity of Inel-type mineralization over a north-east strike length of approximately 400 m. Results include significant intercepts in holes INDDH-124 (32 m grading 0.32 g/t Au and 1.64% Zn) and INDDH-125 (50 m grading 2.28 g/t Au including 6 m grading 7.36 g/t Au; see Table 1 for complete results1 ). Based upon preliminary oriented-core studies (the first to be undertaken on the Inel occurrence), Inel-type mineralization is characterized by relatively shallow dipping structural corridors containing tectonic arrays of pyrite +/- sphalerite-bearing quartzcarbonate veins and veinlets associated multi-metre scale halos of sericite-pyrite alteration and hosting anomalous Au values. Sheeted, extensional, gold-bearing veins are developed between north-east-striking, planar, brittle-ductile high strain zones over significant widths within Stuhini siliclastic wackes and monzonites. Colorado President and CEO, Robert Shaw, states: “Colorado is pleased to receive positive results along the BRDZ. Our oriented-core studies have significantly improved our understanding of structurally controlled gold mineralization along the BRDZ, indicating the potential for Inel-style mineralization to the east of previous drilling in the Inel basin”. | |
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