When Zoran Pudar returned to its headquarters in Vancouver this week, his briefcase contained a lot of good news on the progress of the exploration program in the company of two eventual gold properties located in the Far East of Russia across the Bering Strait from Alaska. The vice president of exploration for Golden Reign Resources Ltd (TSX: GRR) returned from a field visit to the company properties. At the Dorozhni property, which covers 8.8 square km, gold mineralization is deemed to be the source of 150,000 ounces of placer gold mined historically.
"In about two weeks, I expect to receive assay results for samples collected during my visit to the properties," he said Resourcex investors on Thursday, "and we are still collecting samples from the property Butarni . A total of 18 samples were sent to Alex Stewart (Assayers) Ltd., a British laboratory in Moscow. "
The Russian government has limited research data on the properties in the region of Magadan, under an agreement with Golden Reign and more information has been forthcoming in recent weeks. Most of the work was carried out after World War II and the late 1980s. The property is held under a 20-year permit full exploration and mining companies.
"From what we know about the property Dorozhni," Pudar said, "they were hunting some high quality quartz veins. Typically, gold is coarse. I had a chance to spend several day and focused on the eastern part of the property where we have recently completed 1.5 kilometers of trenches. We sampled some of these veins, which in 1946 gave more than six kilograms of gold (about 20 ounces). "
He said that the high quality gold mineralization occurs at the intersection of the structure-oriented northwest and intrusive, hosting quartz veins. Of particular interest is the new loophole exposed mineralized and sediment in an open area lit.
Pudar said that the newly discovered breccia zone appears to be 50 by 70 meters wide. "This is the type of target that I was looking for. In fact, I brought some samples really nice, just to show and tell. This new area has really great potential, but the river bed should be fully exposed and adequately sampled. It is rich in sulphides in the area, which is often associated with gold. This area is regarded as a prime target for exploration continues. "
The first phase of exploration on the property Dorozhni was launched this fall. Dorozhni, one of the two Golden Reign highly prospective gold properties in Magadan, is located upstream of Dorozhni Creek. Previous exploration work focused on the identification and testing of five gold mineralized quartz veins on the surface or close. Veins, which were found for 380 meters along the strike, an average of between 0.4 to 2.4 meters wide and sometimes extending up to 17 meters wide. The distance between the veins ranges from 15 to 50 meters. But distribution is very irregular, with the highest reported resulting from two separate channel samples, which were collected from Vein # 1, 6322.2 g / t over 0.1 meters and 2 g , 678.2 / T over 0.5 meters.
Golden Reign believes that the property has a low potential grade bulk tonnage gold deposit. Exploration will test the system sheeted vein in the granite intrusive to assess the content or between the ribs, with the aim of determining an average obtained from the vein and the swarm intervene intrusive.
The first phase of exploration has been designed to map the mineralized zones and test whether gold mineralization is limited to veins and veinlets of quartz, or if the mineralization occurs in the host country of the rock surrounding. Exploration will test the system sheeted vein in the granite intrusive to assess the content or between the ribs, with the aim of determining an average obtained from the vein and the swarm intervene intrusive.
The company has set up an exploration camp, mobilized and upgraded existing equipment access road. She built a new two-km road to provide access to mineralized zones previously tested in establishing borders. Complete geological mapping, including recognition crosses and grab sampling has been completed. Results are pending and will be published as they become available.
Magadan, one of the world's richest mining areas, has about 2,000 deposits placer gold, 100 ore deposits of gold and 48 silver deposits. Total probable gold reserves in Magadan Oblast are estimated at 4,000 tons (128 million ounces).
Pudar, who has been active in Russia for more than 10 years, is a graduate of the University of Tuzla, Bosnia and Herzegovina and the former Yugoslavia. He worked at the Geoinstitute Sarajevo, Bosnia, Canada and several public and private companies involved in mineral exploration property.
In late summer, work has also begun on the Golden Reign Butarni property, 9.3 square miles located approximately 310 km north of Magadan, the capital of the province. It is characterized by clastic sediments, which have been intruded by a biotite granite with dimensions of stocks of about 3.0 km x 1.6 km. Five quartz vein known mineralized zones are described in the stock, with a length ranging from 700 meters to 1,500 meters. Major veins are between 0.1 and 1.5 meters wide, 100 to 150 meters in length and are accompanied by zones of quartz veins parallel. Previous capture and channel sampling returned values ranging from 1 g / t Au to 334.4 g / t, with an average grade of 21.3 g / t gold from 45 selected grab samples, 29.6 g / t gold from 22 channel samples.
This article is intended for information purposes only and does not constitute a recommendation to buy or sell the shares of any company mentioned in this document. It is based on sources believed to be reliable, but no guarantee of accuracy is expressed or implied. The views expressed in this article are those of the author except in cases where statements are issued to persons other than the author, in this case, the views are those of the person to whom they are assigned.
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