Things may get interesting this week for GGL. The targets being drilled are large and show a lot of promise.
GGL Diamond Corp
Symbol GGL
Shares Issued 139,642,025
Close 2008-08-20 C$ 0.18
Recent Sedar Documents
GGL Diamond to start drilling at Providence this week
2008-08-21 08:24 ET - News Release
Mr. Raymond Hrkac reports
GGL DIAMOND CORP.: DRILLING SET TO GO ON PGB (NT) NICKEL AND VMS TARGETS; AND FOR COPPER-GOLD AT MCCONNELL CREEK (BC)
GGL Diamond Corp.'s drilling is set to begin this week on a number of high-conductance, large, discrete targets for potential nickel and VMS mineral deposits on GGL's 100-per-cent-owned claims on the Providence greenstone belt (PGB) in the Northwest Territories.
A total of 30 moderate-to-high-conductance VTEM (versatile time-domain electromagnetic) geophysical targets were identified from the state-of-the-art airborne survey completed earlier this year.
One of several large VTEM targets prospective for nickel mineralization, designated as 61W, will be drilled first. This feature consists of a strong EM conductor hosted within a moderate-to-low magnetic zone. The 61W zone has overall dimensions of 1.4 kilometres (northeast) by 0.5 kilometre (northwest). Modelling of parts of the conductor suggests it comprises a number of discrete units some of which are of very high conductance. This area is an extension of areas sampled during the 2007 program, in which ultrabasic rocks were identified as komatiites. The identified komatiites within the company's PGB project area have geochemical signatures similar to komatiites that host nickel deposits in similar Archean terranes worldwide.
Exploration work in 2007 and to date in 2008 has confirmed and enhanced the potential for magmatic nickel deposits associated with komatiites and also established that the PGB, in common with many greenstone belts, has the potential for VMS (copper, zinc, lead, silver and gold) deposits and for gold deposits associated with both iron formation and major structural shear zones. The results of the 2008 VTEM airborne survey were exceptional for the number of isolated, discrete, high-conductance geophysical anomalies and at this stage of exploration, reflected a most successful outcome.
Based at Zip camp, the company's field crews, including crews from Aurora Geosciences Ltd., have been examining, evaluating and selecting drill sites for the various areas. The VTEM targets are large and should any one target return positive drill results then extensive drilling to outline a possible deposit would be required.
The realization of the varied economic potential of the area led the company to take an aggressive approach to land acquisition. The company holds a total of 426,104.88 acres over a length of 120 kilometres of the PGB.
The independent qualified persons for the company for the PGB project are N.C. Carter, PhD, PEng, consulting geologist, and qualified persons from the consulting firm of Aurora Geosciences Ltd.
Drill permit issued for McConnell Creek, B.C., copper-gold project
At GGL's prospective copper-gold property at McConnell Creek in north-central British Columbia, the drill permit has been issued and GGL is in the process of fulfilling the requirements of that permit. The company hopes to move the drill into position within the next several days.
We seek Safe Harbor.
|
