Officials with Colorado Goldfields Inc., the Denver-based mining firm doing exploratory work at the Gold King and Mogul mine sites near Gladstone, say the drilling program this summer shows positive results.

John Ferguson, director of operations for Colorado Goldfields, said results continue to correlate “extremely well” with historical records, with more than half this season’s drilling completed.
Last Thursday, the company completed the Mogul drill hole, revealing 50 feet of vein intercept.

“The true width will probably be in the range of 35-40 feet, and the surface outcrop is approximately 40 feet wide,” Ferguson said.

During the core logging process from the Bonita Peak Pad (Gold King), Project Geologist Jonathan Moore said, “This is great, this is really great! We are seeing more confirmation of the information gleaned from previous holes-nice white quartz with some gaudy sulfides.”

“The Bonita Peak number 3 is now complete,” Ferguson said. “We will be recalibrating the drills for aim, and begin drilling new holes on both the Gold King and Mogul sites this week.”
At the second drilling location, a transition zone vein revealed a number of small vugs containing euhedral quartz and occasionally rhodocrosite.

The core samples have been logged and sawed, and will be sent for third-party assay testing.
Colorado Goldfields is employing eight men on two drilling crews on a contractual basis, four with Maisel Excavating of Silverton and four with a contractor from Montrose.

Additionally, two geologists are employed by Colorado Goldfields on a contractual basis, working out of the Pride of the West Mill at Howardsville.

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