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  • GNCC Capital, Inc. (GNCP) Ester Basin Gold Exploration Properties  0 comments
    Jun 13, 2013 11:15 AM | about stocks: GNCP

    Nevada-based gold and silver exploration company GNCC Capital holds a number of gold and silver properties in Arizona, including the Ester Basin property in west central Arizona. The property consists of 5 unpatented lode mining claims, covering 100 acres, on land administered by the Bureau of Land Management. Gold mineralization is found in silicified quartz breccia zones throughout the property, and there are numerous shafts, glory holes, and other historic mine workings.

    There is a strong indication that the property has a stacked system of detachment faults. Detachment fault deposits were first recognized as a separate form of gold deposit in the 1980's. The best example of an Arizona detachment gold deposit is probably the "Copperstone" Gold deposit, which like "Ester Basin" is in the highly extended Western Arizona terrane. Cyprus Gold mined the approximately 500,000 ounce Copperstone open pit gold resource during the 1980's, and another mining company is presently assessing the feasibility of mining the remaining underground gold resource at Copperstone.

    In addition, at the Northwest Shaft there is barite-calcite-chrysocolla-malachite-manganese oxides-hematite mineralization and minor quartz in fractures in Precambrian granite. At the Central Shaft, which is about 2,000 feet southeast from the Northwest Shaft, there is mineralization in the absence of apparent shearing, including calcite-barite-quartz with minor copper oxides. At the Southeast Shaft, about 3,000 feet southeast of the Central Shaft, mineralization includes fluorite-hematite-chrysocolla-malachite-quartz-relict pyrite (now iron oxides).

    The Ester Basin gold deposit was previously included in a Phelps Dodge gold project during the 1980's. Phelps Dodge did geochemistry and magnetic surveys, as well as preliminary drilling. Certain of the materials from the Phelps Dodge project are in the public domain and should prove useful in planning further exploration at Ester Basin. Based on these materials, it has been concluded that the Ester Basin Project claim block includes certain Phelps Dodge drill targets for the next drill campaign that was cancelled. The company intends to pick up where Phelps Dodge left off and, following some preliminary geological work, resume drilling the property.

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    Stocks: GNCP
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