The diamond core sampling at Fort a la Corne will be accomplished in-house using the Company drilling equipment.
The diamond core sampling will be used to establish geological and structural context of the priority targets already chosen with the objective of preliminary assessment for commercial operations.
including the El Capitan mining property and the core sampling
results, please see the Company's recently filed Annual Report on Form 10-KSB or go to www.
The Company encountered oil and gas while preparing to initiate its core sampling
from the 1654 meter level.
The Company previously announced that it intended on beginning core sampling
by 1Q03, but with the new drilling rig in the field scheduling can be accelerated.
Gold's amazing accomplishment on Tuesday, trading as high as $329 intraday in New York, has validated plans by Indocan to restart core sampling
at the Company's stellar site in Isaac's Harbour, Nova Scotia.
An additional 40 feet of net pay is possible, in a separate zone, pending core sampling
which is expected within the next 48 hours.
This Fall, Rhonda plans to complete drill hole logging, core sampling
, assaying, and research.
The McPhee Report recommended that $755,000 be expended on an exploration program consisting of surface trench sampling and/or drill testing of all geophysical anomalies and that core sampling
be completed over the entire length of the holes to establish a correlation between gold values, sulphides and rock type in order to determine whether the gold is associated with the sulphides causing the anomalies.
The work, which consisted of detailed geologic mapping, re-logging core, and surface and drill core sampling
, was conducted by Santa Fe Canadian Mining Limited on behalf of the Springpole Joint Venture, a 50/50 partnership between Santa Fe Canadian Mining Limited and Gold Canyon Resources Inc.