On Monday, Greenwood Gold Resources, Inc. announced that they purchased a 100 percent working interest option from Candorado Ltd. in Calgary Alberta. The property is located in the Quesnel Terrane. The exploration target is an Alkalic copper-gold porphyry deposit. This will give Greenwood Gold Resources, Inc. a start in the mining and metal industry.
The 955 hectares Summer property is approximately 20 kilometers east of Lac La Hache, in the Cariboo region of south central British Columbia, Canada. The property area is within a portion of the Quesnel Trough, an Upper Triassic to Jurassic volcanic arc sequence. The geology, alteration and mineralization on the Summer property suggest it has a porphyry related copper/gold system underlain. There is potential to develop a porphyry copper/gold or skarn deposit.
Greenwood Gold Resources, Inc. (for the first part of the option agreement) is required to complete a $350,000 exploration program and pay $150,000 cash to the company in order to earn a 40 percent interest within 6 months of the option date. Greenwood is planning for an updated technical report and ongoing geophysical, geochemical surveys and drilling.
Headquartered in Palm City, Florida, Greenwood Gold Resources is a junior exploration company that lists on the OTC Bulletin Board. They focus on exploration for gold and other valuable minerals deposits in Canada and United States as well as acquiring, developing and joint venturing with other junior or major gold mining companies with properties within North America.
The Company has developed a set strategy to acquiring gold and other valuable mining properties following several key investment criteria. Greenwood Gold Resources will look for assets ranging from grass roots exploration to near production. They will look to have a balanced portfolio of properties across this spectrum to maximize returns while also reducing risk.
For more information visit: www.greenwoodgoldresources.com
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