Tami Zone Results Boost Colorado Resources' Hopes for KSP Property

Colorado Resources Ltd. (TSXV:CXO) announced results from the summer 2015 exploration program completed at the Tami zone claims, located at its KSP property. The company acquired the Tami zone claims via a January 2015 transaction with Teck Resources Ltd. (TSX:TCK.B,NYSE:TCK).
As quoted in the press release:

The 2015 field program at Tami consisted of the collection of 109 rock chip, channel and grab samples, detailed geological mapping and prospecting; 12.5 km of ground magnetometer surveying and compilation of historical data.
This work indicates the following:

• Channel and Chip Samples– Colorado’s rock saw channel and chip samples have returned anomalous values over 700 metres of strike from the main Tami showing, further highlighting the exploration potential

• Historical Drilling– Although historical drillholes completed in 1987 did not test the main showing, results included SR87-07 which returned 208.2 m of 0.323 g/t gold from 1.8-210 m including 21.9 m of 1.99 g/t gold from 1.8-23.7 m indicating potential for bulk tonnage gold.

• Soil and Rock Sampling – Historical soil geochemical samples taken from 1982-1987 and recently incorporated into Colorado’s digital database indicate an easterly trending 250 m x 800 m long > 350 ppb gold in soil anomaly with the Tami Zone located at the far western end. Historical rock sampling has also returned values up to 10.98 g/t gold suggesting the potential for higher gold grades to occur within the overall copper gold porphyry setting.

• Geology- Geological mapping indicates that the Tami Zone occurs in the central portion of the 3 km x 8 km Sericite Ridge alteration zone where a series of east- west trending monzonitic intrusive dykes are associated with the gold in soil anomaly. At the Tami Zone the monzonite dykes are noted with quartz and magnetite stockwork and sheeted veins in typical porphyry fashion.

• Ground Magnetics Survey– magnetically high zones correlate with the soil and rock geochemical anomalies and also occur along strike in areas of cover and attest to further exploration potential not only along strike but at depth. A 3D inversion of the airborne magnetic data shows that the surface magnetic zones appear to coalesce at depth and may form part of a larger mineralized and altered system

Adam Travis, president and CEO of Colorado Resources, commented:

The recognition by Colorado of the Tami Zone as a significant copper gold porphyry target associated with the newly recognized Sky Fault thrust system and the 3 km x 8 km Sericite Ridge alteration system supports our postulation that the KSP Property may potentially host several large scale porphyry targets in a geological setting similar to the KSM Camp* located 30 kilometres to the SE. Tami is a compelling copper gold porphyry target that warrants a large scale drill program.

Click here to read the full Colorado Resources Ltd. (TSXV:CXO) press release.