Excalibur Resources has started the fall exploration at its Cariboo property, which is situated contiguous and to the eastern part of the Silver King property.
The previously producing Silver King mine is present in the Silver King property and was producing continuously from 1889 to 1914. It produced 15 Moz copper and 4.4 Moz silver grading 3.36% copper and 694 g/t silver, respectively. The Kena property of Sultan Minerals is located contiguous and to the eastern part of the Silver King mine. This property includes Kena gold and the Gold Mountain mines, wherein both have bulk tonnage of mineralized gold and high-grade gold bonanza shoots.
The Cariboo property’s mineralization contains a brecciated silicified band or quartz vein, which includes different quantity of galena, pyrite and sphalerite. The company has completed a limited trench sampling program and has encountered positive values of silver and gold, which includes 53.6 g/t silver and 24.86 g/t gold over 1.0 m. Sultan Minerals conducted diamond drilling program at the Cariboo property during 2001 and cut 23.9 g/t silver, 2.57 g/t gold over 2.14 m and 0.24% copper over 2.0 m.
The Cariboo mineralization strike is in line with the Silver King mine formations’ southeast trend. This ongoing exploration will include mapping and trenching for around 600 m and chip sampling along the Cariboo’s strike trend for 1000 m that is towards the Grizzly Adit of the Silver King mine, which is located between the Cariboo showing and the Silver King mine workings.
The Chairman of Excalibur has stated that the company is expecting for an analysis to find if the Cariboo system’s mineralization is connected with the mineralization at Silver King or the Kena property’s gold system.
Source: http://www.excaliburresources.ca/