NSJ Gold Corp. (CSE: NSJ) (FSE: 9PZ) announces that drilling at Golden Hills, located 40 km south of Parker, Arizona, USA, is in progress and has completed 5 reverse circulation holes. These 5 holes have all been within 100 meters of the previously discovered high-grade gold/copper vein zone. To date, no rock competence issues or voids have been encountered and there has been good recoveries for all samples taken.
To date, Alford Drilling LLC has completed 408 meters of drilling at Golden Hills. The completed holes have intercepted rock of similar alteration style to early holes within vein zone. Specular hematite, various copper oxides, and zones of silicification have been observed in some drill chips. Zones where the majority of recovered rock chips were composed of specular hematite have led the exploration team to add an analysis for iron concentration to future assaying. This initial round of drilling is expected to conclude before the end of April, after which the samples will be removed from secure storage and transported to ALS Chemex in Tucson, Arizona for analysis.
Within the region a number of other players have emerged with two notable companies being :
1. Northern Vertex (TSX.V: NEE) is currently producing at Moss Mine, 80 Miles from Golden Hills. NEE.V is trading at $0.44 (market cap: $168M)
2. Arizona Metals (TSX.V: AMC) which is developing the Kay Mine, 130 Miles from Golden Hills. AMC.V is currently trading at $2.55 (market cap: 195M)
NSJ Gold Corp. (CSE: NSJ) Golden Hills asset has been worked on since the early 1980s, with historical drilling completed:
NSJ Gold Corp. (CSE: NSJ) is currently trading at $0.275, giving it a market cap of $6.5M.
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