GCR

[ShareCafe]

GOLDEN CROSS RESOURCES LTD

[Blue_Sky_Harvest]

GCR - Has many drilling programs running concurrently - about ten as I recall. Could Australia be close to a new Broken Hill being found - if so GCR are looking good to be a candidate for it. GCR have GRN targets in the BH region and this technology may turn up a new world class deposit. If Falcon does hit the jackpot, the JV partner (eg GCR) and GRN will soar.

[Blue_Sky_Harvest]

26/02/2004 11:53AM 3 Sunny Corner Drilling Results

 

Sounds like a mine to me. The market has yet to pick up on it.

 

** !0 metres at 31% combined lead, zinc, copper! *

 

Adds some interest to the previous 50m @ 6% Cu-Pb-Zn + 1 g/t Au & 45g/t Ag

 

QUOTE

Posted by siameseparrot (Hot Copper) Post #244807 - start of thread - splitview ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚  GCR have released a very promising drilling report from their Sunny Corner venture. Included is a 10 metre intersection grading 18.6% zinc, 10.8% lead, 1.7% copper, 1.00 g/t gold and 177 g/t silver. Has the market even read or understood the significance of these grades?

 

Following is the report.

QUOTE

ASX ANNOUNCEMENT 26 February 2004 Sunny Corner Drilling Results Intersection of 10m at 31% combined copper-lead-zinc, 177 g/t silver and 1 g/t gold Golden Cross has received preliminary results for the first six RC holes drilled this year at its 100%-owned Sunny Corner project, located near Lithgow in NSW. The holes are part of a 17 hole programme for 1,600m, designed to test extensions to known mineralisation and targets with coincident geochemical and geophysical anomalies. Thirteen of the seventeen holes have been drilled to date, and drilling is continuing. Significant results from the first six holes are tabulated below, and assay results for the remaining holes are awaited. Sunny Corner - Significant Drill Intersections February 2004 Hole NoÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚  From Intercept Copper Lead Zinc Gold Silver (m) (m)ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚  (%) (%) (%) (g/t) (g/t) GSC-32 34 14 0.2 1.3 2.1 0.09 22 GSC-36 46 26 1.2 5.9 12 0.42 93 incl 46 10 1.7 10.8 18.6ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚  1 177 Hole GSC-36 was designed to test the down-dip extension of mineralisation outlined in holes GSC-03 and 14. This mineralisation forms part of the Rollover Zone, where historic workings are reported to contain abundant sulphide material. A number of old workings, some containing stope backfill, have been encountered in some holes. Geological interpretation suggests that the Rollover Zone is a fold structure and its western limb may be more flat-lying and contain less faulting than previously inferred. The significant intersection in hole GCS-36 indicates that the pre-mining true thickness of the sulphide zone was about 20m to 25m. This hole passed through six metres of stope fill before encountering the sulphide at 46m downhole, where it intersected 26m at 19% combined copper-lead-zinc, 93 g/t silver and 0.42 g/t gold, with a true thickness of approximately 15m ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ 20m. Drill data and old records suggest that historic mining extracted a thickness of only one to five metres of material in the hanging wall section, with significant sulphide remaining in situ. Holes GSC-32 and 33 also tested the Rollover Zone, about 90m and 30m south of GSC- 36 respectively. Both holes contained significant sulphide mineralisation, with GSC-33 containing a broad zone of pyritic rock (iron sulphide), instead of the base-metal sulphide (copper, lead and zinc) found in GSC-36. Holes GSC-034 and 35 failed to reach their targets due to poor ground conditions. Hole GSC-37 was drilled 30m immediately to the north of GSC-03 (see diagram) and returned similar grades to GSC-03. Golden Cross is encouraged by the results to date from its third drilling programme at Sunny Corner. Only four holes reached their targets, and three of these holes reveal that high grade sulphide zones are continuous in lateral extent, both down-dip and along strike, and that the zones host potentially mineable thicknesses of mineralisation. Further, the intersections reveal that appreciable copper (locally in excess of 2%) and silver (locally in excess of 200 g/t) also occur in the sulphide zones. Further results will be released as they come to hand. These results will, together with results from the first two drilling programmes, form the basis of the next drilling programme to advance the project. Enquiries: info@goldencross.com.au * * * * * * Golden Cross is a gold and base metals explorer, searching in NSW for large deposits in highly prospective mineral belts, providing significant potential upside for the speculative investor. The Company holds significant mineral tenement positions within the Lachlan Fold Belt, which contains Cadia-Ridgeway, the highest gold site revenue earner in Australia. Golden Cross also holds a major land position in the Curnamona Province of western NSW, which contains the world class Broken Hill orebody, the largest deposit of its type in the world. This report was prepared by Chris Torrey, full time employee of Golden Cross Resources Ltd, who is a Member of the AIG and has more than five years experience in the field of activity in which he is reporting.

Here is the market so far.

[Cooper]

http://sharescene.com/html/emoticons/smile.gif Exciting little company this (IMHO). If you believe the POG is heading north in the next few months (as I do) then GCR is seriously undervalued at current prices. Plethora of positive announcements but still the price drops on the back of negative Gold sentiment, but Looking good for the rest of the year. Initially bought at 7.8 cents and have been buying as it dropped so I'm now holding a fai bundle at a relatively cheap price. Anyone else out there holding a few?

In fact, has anyone heard of/been too the presentations they are having or am I jumping the gun? http://sharescene.com/html/emoticons/icon14.gif

[Cooper]

Latest Announcement is positive. I'm excited about this company. www.goldencross.com.au

[tastarga]

Golden Cross keep on chasing targets where the grade is high , but there are absolutely no tonnes-old Timms should retire and let his Kiwi geo have a free reign.

Timms keeps on pumping it, but virtually everone one of his jvs/interest is worthless. The SIPA stuff around Broken Hill has a low to moderate degree of interest-the rest is a liability, not an asset. That includes Adelong, Mt Boppy, the looooow grade silver deposit,etc etc etc.

Cheers,TAS

[Cooper]

Cheers for the opinion Tastarga... I'm new to Goldies so any viewpoints other than my own are welcome, especially if they result in me having to re-think what I thought I knew.

For the record from what I can see GCR have a bundle of properties that are viable given a high POG... ie what wasn't worth taking out of the ground a few years ago is now worth taking out now. I'm fairly Bullish Gold so to me this means that GCR will be in a good position a couple of years from now.

Company is at cheap levels now with what seems to be good support at 5 cents so its a case of sitting back and waiting for developments on this one. If things pan out (excuse the pun) it will do so dramatically, I believe.

Have you any further news regarding Timms that I can look into Tastarga?

Regards

[Cooper]

http://www.ShareScene.com/html/emoticons/weirdsmiley.gif

GCR closed below 5 cents (4.9 cents) for the first time in my memory. Unless some impressive support comes in that doesn't look very good.

[Stock_Doctor]

In reply to: Cooper on Thursday 05/08/04 07:03am

some support coming in for this one, could be a trade in it. lots of leases etc...

[sandybeachs]

hi doc

 

firstly, i haven't had a good look at this company. so you might say i know S.F.A (SO I SUGGEST YOU D.Y.O.R)

 

i've been watching it as a possible trade, in which i picked up a very small amount the other day.

 

if things keeping improving i'll top-up along the way

 

see below weekly chart, indicators looking very good.