QualityStocks would like to highlight
GNCC Capital, Inc. (
OTCBB: GNCP), a gold and silver exploration company with a growing number of different projects, currently centered in Arizona, all of which were carefully selected due to their outstanding characteristics. The company’s geologists will supervise an extensive exploration program for these projects to prove up reserves through geological surveys and a substantial number of carefully planned drilling programs.
In the company’s news,
GNCC Capital holds a number of gold and silver properties in Arizona, including the Clara Gold Exploration Properties in the Santa Maria Mining District in west central Arizona. The project consists of 24 lode mining claims, covering 480 acres, on land administered by the Bureau of Land Management.
There are dozens of mine shafts, adits, open pits, and other mine workings at the Clara Gold Project. The area was historically developed by the Clara Consolidated Gold & Copper Mining Co. in the early 1900’s, and is comprised of two groups of mining claims, called the Clara Mine in the northeast portion of the property, and the Moreau Mine in the southwest portion of the property.
Exploration materials for the area are available dating back to 1982, when the property was originally acquired by American Gold Minerals Corp., which assigned their interest to Goldsil Mining & Milling, with other owners following.
Underground sampling by Nevada Pacific, a previous owner, averaged .091 ounces per ton gold, and included a section of continuous chip/channel samples that averaged 0.162 ounces per ton gold over 85 feet. Nevada Pacific’s initial drilling included intervals of 45 feet at 0.097 ounces per ton gold and 15 feet at 0.089 ounces per ton gold. GNCC intends to conduct initial sampling to validate Nevada Pacific’s reported results, following which they will attempt to develop drill targets at the property.
The regional geological setting is a major east / west detachment fault. Mineralization is found in quartz veins and breccia zones hosted by the upper plate and lower plates. Detachment fault deposits were first recognized as a separate form of gold deposit in the 1980’s. The best example of an Arizona detachment gold deposit is probably the Copperstone Gold deposit, which like Clara is in the highly extended Western Arizona terrane, as well as in the “Walker Lane” gold trend. Cyprus Gold mined the approximately 500,000 ounce Copperstone open pit gold resource during the 1980’s.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
