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XIAHE - GANSU PARGAS JV
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Key Facts
Location:
Gansu, China
30 km SE of XIAJE Commodities: Gold
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Comparable Properties
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Latest Information October 26, 2006 Results for all eight diamond drill holes that were completed on the Huaerliang gold prospect on the Xiahe property. Six drill holes, HEL06-3, HEL06-4, HEL06-5, HEL06-6, HEL06-8 and HEL06-9 were principally designed to test the oxidized, gold bearing mineralized zones associated with north-southerly trending breccia and fracturing zones which were discovered by surface sampling and mapping. The holes intersected the main north-southerly trending and sub vertical zones which feature hematite-quartz-carbonate-sulphide vein stockworks and hydrothermal breccias hosted in slates-sandstones or quartz-diorites in one or more parallel structures. Hole HEL06-8 cut 1.34 g/t Au over 11.4 meters, including the best gold intercept obtained of 5.61g/t Au over 1 meter. The gold bearing mineralized zone extends for more than one kilometer; the outer contact zones of the Huaerliang porphyry body, however, show more potential for significant gold mineralization. January 30, 2006 Drilling, magnetic and soil geochemical surveys carried out during the 2005 exploration season has identified a mineralized zone extending over 10km from Sangqu to Huaerliang in an east-west direction that indicates potential for gold deposits related to a granodiorite intrusive body similar to the mineralized system outlined at the Bulagou Property. The Huaerliang-Sangduoke Prospect area is 20.64 square km in area, oriented in an east-west direction and dominantly underlain by the Huaerliang granodiorite body which has intruded the Lower Triassic sedimentary formation. A wide stream sediment gold anomaly appears to be present covering the Huaerliang granodiorite intrusive body, with several gold deposits, for example, the Sangqu, Zaqialebu and Sayiang deposits, identified as the intrusion-related deposits, existing in the area adjacent to the Huaerliang granodiorite body. January 11, 2006 The transfer of the exploration licenses with respect to the Maqu, Luqu, and Xiahe properties have been received and have been transferred to the JV corporation, Gansu Pargas Minerals Exploration Co., pursuant to the terms of the JV agreement. The business license for the JV that encompasses the Bulagou property is now awaited. |
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