Striking Gold: G50 Corp's Golconda Project Delivers Major New Discovery
G50 Corp Limited (ASX: G50) has confirmed a significant precious metals discovery at its Golconda Project in Arizona, with latest drilling results revealing impressive gold and silver intercepts that highlight the substantial scale potential of the deposit.
Impressive Drill Results Confirm Major New Discovery
G50's second reverse circulation (RC) drilling program at Golconda has delivered exceptional results, with standout intercepts including:
- 47.2 meters at 2.0 g/t gold and 40.2 g/t silver in hole GRC22, including a high-grade zone of 16.8 meters at 5.19 g/t gold and 100.2 g/t silver
- 77.7 meters at 0.76 g/t gold and 11 g/t silver in GRC21, including 7.6 meters at 5.5 g/t gold
- 97.5 meters at 0.27 g/t gold, 4.8 g/t silver and 0.7% zinc in GRC17
The program, which targeted the central portion of the Tub Zone below the depth of oxidation, represents the first comprehensive drilling effort in this area. Twenty-six RC holes were completed, with assays returned for half of the holes so far.
Notably, four of the fourteen holes being reported ended in mineralisation, indicating the system remains open at depth and along strike.
"Today's results confirm we have a new and significant gold silver discovery at Golconda in Arizona. Multiple 10's of metres of gold and silver intersections over 1 g/t across 700m of strike with many holes ending in mineralisation at 250m of depth indicates Golconda is an extensive new discovery," commented G50 Corp's Managing Director, Mark Wallace.
Understanding the Tub Zone: A Major Mineralised System
The Tub Zone represents a substantial mineralised structure situated on a major NW-trending crustal feature that extends over 20km. This regional structure hosts much of the significant mineralisation in the area, including:
- Golconda and Tub mines (G50 100%)
- Golden Eagle Mine (G50 100%)
- Mineral Park porphyry copper-silver-molybdenum mine
- Chloride District including the Tennessee mine
Significant exploration has defined the Tub Zone as a laterally and vertically continuous mineralised system that ranges from 100-500m in width and dips to the northeast at 50-60 degrees. The zone comprises the main Tub Vein plus additional footwall and hanging wall mineralisation.
Strategic Gallium Discovery Adds Significant Value
Beyond the precious metals discovery, G50 Corp's Golconda Project drilling has also confirmed significant gallium mineralisation across the project, with every RC hole hitting consistent widths and grades:
- 216 meters at 18.4 g/t gallium from 4.6m in GRC13
- 209 meters at 17.7 g/t gallium from 4.6m in GRC14
- 204 meters at 21.7 g/t gallium from surface in GRC15
This strategic metal, crucial for semiconductor manufacturing and clean energy technologies, represents a potentially valuable secondary resource. Recent mineralogy work by SGS Canada confirmed gallium is present in three specific minerals found in altered granite: muscovite, kaolinite, and potassium-feldspar, which together make up approximately 38% of the rock.
What is Gallium and Why Does it Matter?
Gallium is a strategic metal used primarily in semiconductor manufacturing, particularly for chips in smartphones, LED lighting, solar panels, and various defence applications. As countries seek to secure domestic supply chains for critical materials, deposits like Golconda that contain both precious metals and strategic elements gain heightened importance.
The US government has designated gallium as a critical mineral, and its importance has grown following export restrictions from China, which previously dominated global supply. Gallium's presence at the G50 Corp Golconda Project potentially adds significant value beyond its precious metals content.
Gallium is primarily found in trace amounts in bauxite and zinc ores, typically requiring complex extraction processes. The consistent and potentially accessible gallium mineralisation at Golconda presents an unusual opportunity for a domestic supply source of this critical metal.
The three specific minerals hosting gallium at Golconda—muscovite, kaolinite, and potassium-feldspar—appear to be associated with the hydrothermal alteration event of the nearby Mineral Park porphyry copper deposit. Importantly, recent studies show greater enrichment of gallium in the muscovite and kaolinite compared to the potassium-feldspar.
This mineralogical characteristic, combined with the minerals making up 38% of the rock and the coarse-grained nature of the rock itself, may facilitate mineral processing methods such as flotation to concentrate these minerals. Once a mineral concentrate is produced, gallium could potentially be extracted using acid leach methods.
Future Plans and Development Potential
G50 is awaiting the balance of assays from the 2025 drilling program, expected in the next 4-6 weeks. The company has already begun planning a follow-up drilling program to both infill and test for depth extensions of the discovery.
The combination of precious metals and strategic mineral potential positions the G50 Corp Golconda Project as a highly attractive asset in Arizona, a premier mining jurisdiction with established infrastructure and supportive regulations.
Investment Potential: Why G50 Deserves Attention
G50 Corp's Golconda project offers several compelling investment considerations:
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Scale Potential: The wide, continuous nature of mineralisation across 700m of strike length with multiple holes ending in mineralisation suggests substantial resource growth potential.
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Dual Commodity Appeal: The combination of precious metals (gold/silver) and strategic minerals (gallium) creates multiple value pathways.
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Premier Location: Arizona ranks as one of the top mining jurisdictions globally, with excellent infrastructure and a supportive regulatory environment.
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Strategic Relevance: The gallium component aligns with growing US government initiatives to secure domestic supply of critical minerals.
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Experienced Management: The company's systematic approach to exploration has yielded quick results and demonstrates technical capability.
With the balance of drilling results expected soon and follow-up programs already in planning, G50 Corp is positioned at an exciting inflection point in its development as it advances this significant new discovery at the Golconda Project.
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