Update: Effective March 23, 2012, Cedar Mountain changed its name and stock symbol to Graphite One Resources Inc TSXV:GPH.
Cedar Mountain Exploration Inc TSXV:CED announced results from its Kelly Creek project on the Seward Peninsula, Alaska. Assays include
0.71 g/t gold over 12 metres
0.74 g/t over 21.7 metres (including 1.08 g/t over 7.2 metres)
1.28 g/t over 3 metres
1.04 g/t over 26.8 metres (including 2.07 g/t over 10.1 metres)
0.88 g/t over 16.5 metres (including 1.34 g/t over 7.5 metres)
1.31 g/t over 6.1 metres
President/CEO Charles Chebry tells ResourceClips.com, “The Kelly Creek project is an unglaciated environment, and we’ve found that soil-geochem work is very effective in identifying areas that are prospective for gold. We have several very large gold-in-soil footprints there. We were able to drill five different targets this year, and some of those targets had multiple zones. We’ve drilled a total of 4,800 metres—45 very shallow holes. Today’s release was centred on the first area, itself called Kelly Creek, which had two zones. For the first pass, I think those are pretty encouraging results.
For the first pass, I think those are pretty encouraging results—Charles Chebry
“The drill campaign for this season is done, so we’re just waiting on results from the rest of our target areas. Once we have those results in we’ll start planning for next year. This is just our first season of drilling, so we definitely won’t have a resource after this year. This year we used more of a shotgun approach, where we have these vast areas of gold-in-soils. So we’ve got widely-spaced holes testing numerous target types. For next year’s program we’ll be focusing in based on all the information that we’ve gained.
“Alaska is a great place to work in. We’re on 100% state land. That’s considered to be the best spot to work in Alaska. They’ve done their native-claims settlement, so there’s no issues in that regard. There’s a little bit more bureaucracy involved with Alaska’s federal land, but on state land it’s pretty straightforward. Permitting is relatively easy. Our experience so far has been very positive.”
Chebry concludes, “We’re pleased with our initial results. It is exploration, so we did identify some areas that definitely need following up. We’ve still got a lot of results outstanding, and we’ve got additional areas that we have developed this year that are drill-ready that look very encouraging. So the project is early stage, but it’s very promising.”
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