Zacapa Resources Ltd. (TSXV: ZACA | OTCQB: ZACAF |DE: BH0) has announced the acquisition of the Kramer Hills gold project, centered on the past producing Shaharald oxide gold mine in San Bernardino, California in the US.
“Kramer Hills contains historical resources with robust oxide gold grades and has excellent potential for expansion along strike and at depth.” Commented executive chairman Ian Slater.
“The greater than 2km strike length of historic mineralization under thin cover along with widely distributed gold occurrences in the Kramer Hills district suggests there is good potential to add additional oxide gold mineralization to the deposits and make new discoveries.”
The mine is located on patented claims and US Bureau of Land Management ground in California, with 634 BLM claims in the surrounding area for a total project size of approximately 5,200ha. It includes five near-surface open pit gold deposits that were permitted for exploitation in the late-1980’s with a historical resource of approximately 7.5Mt at reported grades of 1.65g/t gold for 375,000oz of oxide gold.
Gold occurrences at Kramer Hills extend over an area measuring 7.5km by 8.5km with a concentrated central area containing more than 54 historic shafts, 2.4km of tunnels, and numerous pits and trenches.
Past drilling was quite shallow, with holes of only about 30m or less in depth. High grades at shallow depths like this suggests potential that the deposits can be expanded by drilling below, along strike, and by identifying new mineralization within the district.
“Zacapa plans to conduct low-cost RC drilling to efficiently verify and expand the historical resource to convert it to a current resource consistent with modern standards. Kramer Hills is an outstanding addition to our growing portfolio of gold projects in the southwest US including our flagship South Bullfrog project.” Ian added.
For further information please visit: www.zacaparesources.com
