Colorado pushes ahead at northern BC projects
Last updated 1/14/2018 at 6:23pm
Colorado Resources Ltd. July 10 reported the start of 7,500-meter initial phase of drilling targeting the Inel zone at its KSP property in the Golden Triangle region of northwestern British Columbia. This drilling will focus on areas to the west and north of the area drilled at the Inel target last year.
One hole drilled at Inel last year cut 52 meters averaging 4.93 grams per metric ton gold and 2.7 percent zinc; including a two-meter intercept with 89.1 g/t gold and 2.3 percent zinc.
Colorado said that many of the 2016 holes drilled on the margins of the areas being targeted this year ended in mineralization and are overlain by very strong gold-in-soil anomalies.his year's C$4 million program is design to meet the requirements under an agreement with SnipGold Corp., a subsidiary of Seabridge Gold Inc., for Colorado to earn an 80 percent joint venture interest in the KSP property.
In addition to its work at KSP, Colorado recently completed a targeted soil survey, prospecting and geological mapping at it North ROK property, also in northern B.C. Colorado's technical group is also applying what it has learned at North ROK to assess the potential of the adjacent and newly acquired ROK-Coyote property.
"Earning an 80 percent interest in KSP will significantly expand our options for advancing this great district in the most beneficial manner to our shareholders," said Colorado President and CEO Adam Travis. "North ROK continues to be one of BC's best new porphyry discoveries in the last decade and our acquisition of the surrounding ROK-Coyote Property has significantly expanded the prospective trends between North ROK and the Red Chris Mine."