Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

GNCC Capital, Inc. (GNCP) Burnt Wells Summary

|Includes: GNCC Capital, Inc. (GNCP)

Gold and silver exploration and marketing company GNCC Capital holds a number of properties in Arizona that it plans to develop through the use of exploration, testing, and joint ventures. One of their major properties is Burnt Well Gold Properties, roughly 50 miles northwest of Phoenix. It consists of 9 unpatented lode mining claims, covering approximately 160 acres in the Harcuvar Mining District, near Wenden, Arizona. Burnt Well is a former Cordex Exploration Company project, and includes the historic Silver Lining Mine. The land is administered by the U.S. Bureau of Land Management.

Burnt Well already has a number of shafts, pits, and dumps, developed to explore complex structural zones in the Tertiary hanging wall rocks. These rocks are andesite flows, well-bedded siltstones, and conglomerates. The sedimentary rocks on the mine dump contain hematite, chrysocolla, calcite and sparse manganese oxides. Gold, silver and copper mineralization is found in the altered sedimentary rocks.

Cordex sampling of gold mineralization along structures at the main Burnt Well shaft and adit reportedly yielded gold values up to 34 g / t (1.0 ounce per ton). Also of interest are disseminated gold values ranging from 0.34 to 1.03 g/t (0.01 to 0.03 ounce per ton) in silicified Tertiary siltstones, over widths of 20 feet or more. The Tertiary rocks in the project area are mostly covered by thin pediment gravels. However, two shallow shafts (the "Southwest Shafts") about 1.6 kilometers (1.0 mile) southwest from the Silver Lining Mine, yielded a sample of 3.4 g / t (0.01 ounce per ton) of gold from Tertiary andesite.

Exploration plans include follow-up on magnetic anomalies found by a Cordex surface magnetic survey, as well as additional sampling and geophysical work designed to outline targets for drilling.

For more information, see the company website at

Please see disclaimer on the QualityStocks website: