Re: NEWS: Kodiak Identifies Multiple Drill Targets on West Millennium and Big Yel...
posted on
Apr 23, 2008 07:38AM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
I take that back... this is REALLY GREAT news IMO. WOW. Like bold parts...
red911
Hercules update:
Exploration at the Hercules gold discovery is progressing as planned. Four drills are currently working on the Golden Mile and, due to the success of this program to date a fifth drill is being mobilized and is due to arrive in the near future. Deep drilling along the Golden Mile continues to intersect mineralized quartz veining, quartz carbonate alteration and strong zones of silicification up to 35 meters thick to depths of up to 430 metres. In addition, the first holes drilled at the far northwest end of the Golden Mile have intercepted quartz veining and thick zones of altered wall rock, indicating that the Golden Mile vein system remains open in a northwesterly direction beyond the extent to which it has been stripped on surface, as well as to depth.
In the course of step back drilling along the central portion of the Mile, a new blind vein was discovered approximately 100 metres southwest of the principal Golden Mile vein. This previously unknown vein was intersected at a depth of 38.5 metres and contains VISIBLE GOLD within a two metre vein width in drill core. Follow-up drilling is in progress to test its full depth and strike extents. Samples from this new vein and drill holes from along the Golden Mile have been submitted for assay. We will release results when all analyses have been received, the data compiled and QA/QC procedures completed. Deep drilling along the central and northwestern portions of the Golden Mile and exploratory drilling elsewhere along the Golden Mile will continue. Further drilling is also planned in the near future for Marino,7 of 9, and WL as well as other untested gold bearing vein systems.
The Company plans to complete approximately 60,000 metres of drilling during its ongoing 2008 exploration program at the Hercules gold discovery. We will also carry out a comprehensive surface exploration program, which is planned to commence shortly in light of
rapid snow melt