2010 Mining Explorers: Cedar Mountain Exploration Inc.

 

Last updated 10/31/2010 at Noon



CED: TSX-V

President, Chairman and CEO:

Charles Chebry

Vice President, Exploration: David Clarke

Cedar Mountain Exploration Inc. is focused on seeking a near-surface, bulk tonnage sedimentary gold deposit at its Kelly Creek gold project located about 90 miles, or 145 kilometers, north of Nome. After cutting a deal with Greatland Exploration on the Kelly Creek gold property early in 2010, Cedar Mountain augmented its land position on Alaska's Seward Peninsula by staking an additional 147 State of Alaska mining claims surrounding the promising gold play. The Edmonton-based explorer said the 32,640-acre property hosts numerous open-ended, multi-element soil anomalies which have been tested with a limited drilling program.

In July the company initiated a C$600,000 phase-1 sampling program focused on investigating high priority gold geochemical anomalies that occur within prospective stratigraphy over a 15 kilometer by 5 kilometer, or 9.3 mile by 3.1 mile, corridor at Kelly Creek. The results of some 4,000 soil, stream sediment and rock samples collected over the course of the program are being used to identify targets for a drill campaign scheduled to begin in 2011. The company has also completed an airstrip at Kelly Creek, providing direct access to the property.


Historical soil and stream sediment sampling programs have identified several prospects at the property consisting of coincident gold, arsenic, antimony, and mercury anomalies. A coherent gold-in-soil anomaly with continuous elevated gold assays of greater than 25 parts per billion has been traced for nearly 2 kilometers, or 1.2 miles. In 1984, Anaconda Copper Mining Co. completed three drill holes within a portion of the anomalous area , producing drill intercepts of 1.07 grams per metric ton gold over 23.5 meters and 0.83 g/t gold over 32 meters. Cedar Mountain said this region is largely untested and remains open to the south and west.

Cedar Mountain belongs to the Discovery Group, an alliance of individually listed and managed mineral exploration companies. Other Discovery Group companies featured in this magazine are; Kaminak Gold Corp., North Country Gold Corp., Niblack Mineral Development Inc., Kivalliq Energy Corp. and Indicator Minerals Inc.

Working capital: ~C$800,000 (at Aug. 17, 2010)

Market capitalization: C$5.11 million 9 (at Sept. 8, 2010)

220 9797 45th Ave. • Edmonton, AB

Canada T6E 5V8

Tel: (780) 437-6624 • Fax: (780) 439-7308

http://www.cedarmountainexp.com

 

Reader Comments(0)

 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2024