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Mining Explorers 2012: Decade Resources Ltd.

 

Last updated 11/11/2012 at Noon



DEC: TSX

President: Ed Kruchkowski,

Director: Ron Nichols

Director: Randy Kasum

Decade Resources Ltd. and its 35-percent partner Mountain Boy Minerals Ltd. was focused in 2012 on exploring the Red Cliff project in northwestern British Columbia.

Red Cliff is a gold-copper property consisting of eight Crown-granted mineral claims located 40 kilometers (25 miles) north of Stewart, B.C. High gold values are contained within stockwork zones that are composed of stringers of quartz-chalcopyrite-pyrite plus local coarse visible gold.

These stringers have an envelope of galena-sphalerite-chalcopyrite stringers that contain local fine grained visible gold.

Decade has identified three separate gold-bearing zones at Red Cliff - Upper Montrose, Lower Montrose and Waterpump - with strike lengths of at least 500 meters, 100 meters and 300 meters, respectively.

Drill exploration has tested only 300 meters on the Upper Montrose.

Assays for the first nine holes of 21 holes drilled by June 5 to test the Lower Montrose and Upper Montrose zones, returned values ranging from 1.02 grams per metric ton gold over 1.52 meters to 12.80 grams per metric ton gold over 3.65 meters.

To assist in preparation of a NI 43-101 report, Decade in June said it was arranging a financing with management participation that would allow for the mobilization of a second drill to expedite testing of mineralization on the property.

Decade also owns several other properties in British Columbia in various stages of development, including the 158-claim Wedeene property, which is underlain by Kuroko-type VMS copper-gold mineralization and located northwest of Kitimat.

Cash and short-term deposits: C$1.62 million (Jan. 31, 2012)

Working capital: C$1.06 million (Jan. 31, 2012; raised C$1.2 million in private placement at July 10, 2012)

Market capitalization: C$7.08 million (Aug. 28, 2012)

611 - 8th Street, Box 211

Stewart, B.C. Canada V0T 1W0

Ph: 778-340-1830; • Or: 604-202-6596

http://www.decaderesources.ca

 

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