With gold prices at an all time high Canadian Mining is actively seeking a JV partner for its Bullard Pass Gold Project in Arizona to advance the project to the phase two 100-hole drill program.
The resource potential of this property requires a large well-funded company with a multi-million dollar budget to complete the surface geo-chemistry, refine the geologic and geochemical models and use a phased approach to drilling a large number of holes to explore this property to an open pit gold mine.
Only four of the anomalous areas at the Bullard Pass Gold Project were drilled by Canadian Mining during the initial phase, and it was determined that the main detachment fault is dipping steeper than was initially deduced from the vertical dips of the hanging wall volcanic rocks, which was the simplest pre-drilling model. Therefore, after drilling and not hitting the detachment fault the two fault displacement model was devised to explain the vertical dips. We now know that the major geochemistry anomaly along the trace of the detachment that was previously defined, and then refined with our program needs to be drilled closer to the trace of the detachment fault. This anomaly extends for more than a mile and is open to the west. Canadian Mining drilled three holes within this zone. Therefore, a lot more geological work needs to be completed to select drill targets throughout this anomalous area and more soil geochemistry needs to be done to determine if the anomaly is continuous across gravels to other mineralized erosional remnants.
The plan is to develop a series of targets based on the surface soil geochemistry in conjunction with the initial drill-hole geochemistry to be tested in a three phase approach of ~ 30+ RC holes in each phase. This plan will be introduced to potential well-funded JV partners to undertake.
The anomalous area east of the access road, with geochemical patterns suggesting intersecting structures, comprises an area of approximately 0.5 square miles, is totally covered with Quaternary gravels, and is open in at least two directions. Two holes were drilled in this target area close to the access road to minimize environmental impact. Four holes were drilled in another totally covered target area in which the drill geochemistry suggested that lateral and vertical zonation of hydrothermal elements is present and that the area drilled may be higher in the hydrothermal system than initially hypothesized. A number of other large areas of anomalous gold soil anomalies totally covered by gravels were determined in the first phase of soil sampling, but still need to be refined using a tighter grid to determine potential drill targets. The anomalous areas are large and only a large scale drill program can test these potential targets. Canadian Mining's drill program was only the first step taken to target blind and hidden targets on the Bullard Pass Property and has added value to the exploration potential of the property.
Source: Canadian Mining Company Inc.