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GNCC Capital, Inc. (GNCP) Clara Gold Exploration Properties

|Includes: GNCC Capital, Inc. (GNCP)

GNCC Capital holds a number of gold and silver properties in Arizona, including the Clara Gold Exploration Properties in the Santa Maria Mining District in west central Arizona. The project consists of 24 lode mining claims, covering 480 acres, on land administered by the Bureau of Land Management.

There are dozens of mine shafts, adits, open pits, and other mine workings at the Clara Gold Project. The area was historically developed by the Clara Consolidated Gold & Copper Mining Co. in the early 1900's, and is comprised of two groups of mining claims, called the Clara Mine in the northeast portion of the property, and the Moreau Mine in the southwest portion of the property.

Exploration materials for the area are available dating back to 1982, when the property was originally acquired by American Gold Minerals Corp., which assigned their interest to Goldsil Mining & Milling, with other owners following.

Underground sampling by Nevada Pacific, a previous owner, averaged .091 ounces per ton gold, and included a section of continuous chip/channel samples that averaged 0.162 ounces per ton gold over 85 feet. Nevada Pacific's initial drilling included intervals of 45 feet at 0.097 ounces per ton gold and 15 feet at 0.089 ounces per ton gold. GNCC intends to conduct initial sampling to validate Nevada Pacific's reported results, following which they will attempt to develop drill targets at the property.

The regional geological setting is a major east / west detachment fault. Mineralization is found in quartz veins and breccia zones hosted by the upper plate and lower plates. 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 Clara is in the highly extended Western Arizona terrane, as well as in the "Walker Lane" gold trend. Cyprus Gold mined the approximately 500,000 ounce Copperstone open pit gold resource during the 1980's.

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