Source Gold, www.sourcegoldcorp.com – the mining and exploration firm currently focused on North America via substantial developments in Ontario and Arizona, today reported commencement of the planned 2011 exploration program at its Vulture Peak gold and silver property in Arizona.
The wholly owned Vulture Peak claims are in Arizona’s beautiful Maricopa County near the town of Wickenburg.
Lying adjacent to and encompassing much of the old Vulture Mine site, which historically produced some 390k oz Au and 280k oz Ag, the Source Gold claims consist of the:
• Red Cloud claim, with existing mill and mine
• Mohawk claims
• Source Gold Vulture claim, which has a shaft extension into the original Vulture mine
All of these claims have had either previous gold production or are situated in ideal locations where evident surface mineralization and optimal geologic/tectonic parameters exist, offering a clear overall characterization of the claims as very promising.
President of SRGL, Lauren Notar, delineated the 2011 exploration program, projecting early spring for the initial results of Phase 1 and explaining that Phase 2 would commence thereafter:
• Phase 1 will consist primarily of geo-referencing historical geological mapping, trenching and sampling for data, further analysis/compilation of data resulting in a scoped model that will allow comparison with extant production records, ultimately enabling highly efficient future exploration or production
• Phase 2 will capitalize on data generated in Phase 1 with diamond drilling and ground geophysical surveying in addition to targeted 3D induced polarization, electromagnetic-VLF method exploration and magnetometer surveys
Excellent news for SRGL operations here in the US as the Vulture site has every indication that investors will be seeing some major ounces in the future, and turning an eye towards the Company’s Canada operations reveals an even more appealing picture.
The Company plans to focus on the Southern Beardmore Prospect at its Beardmore-Geraldton Gold Camp in North Western Ontario. High grade gold and copper potential, identified via initial exploration at the site, demands targets for an upcoming drilling program when more favorable spring weather conditions prevail.