Content area
Abstract
Prior exploration on the property includes 11 diamond core holes totaling approximately 2000 meters; two of the drill holes intersected the Santa Cecelia vein at approximately 140m down-dip from the underground workings. Records indicate that both holes encountered gold, silver and copper mineralization at grades and over widths similar to what was mined in the overlying workings. According to historical records that were not prepared in accordance with NI 43-101 and have not been verified by the Company, drill hole number AD-8 encountered 14 meters assaying 2.34 ppm Au, 120.3 ppm Ag and 1.88% Cu. Hole AD-10 drilled 16 meters assaying 1.71 ppm Au, 104 ppm Ag and 1.51% Cu. Both holes were drilled to the east northeast with the intention of crossing the northwest trending and southwest dipping structure at angles that would approach true width according to the interpretation of the geology, and Golden Fame's 2011 exploration work will place a priority on further work to define the true thickness of this mineralization.
Golden Fame has completed an initial round of geological due diligence analysis and sampling of both surface mineralization and underground workings on the property. The Company's sampling confirmed significant gold, silver and copper mineralization including an underground channel sample across a portion of the vein in the Santa Cecelia drift with 3 meters grading 9.93 ppm gold, 74.1 ppm silver, and 6890 ppm copper. The surface sampling produced a chip sample across 3 meters which assayed 65.2 ppm gold, 35.8 ppm silver, and 1890 ppm copper. Other surface samples of note included a 3-meter chip sample assaying 5.16 ppm gold, 563 ppm silver, and 9430 ppm copper.