Golden Alliance (OTC Other: GLNCF; TSX-V: GLL) has commenced a surface prospecting and sampling program on the Rio Tabaconas gold project in Northern Peru. The ongoing surface exploration work is planned to continue to evaluate unexplored areas of the 8,710 hectare property as well as carrying out additional detailed sampling and mapping to expand and refine the already identified drill targets. In addition, the Company is completing an Environmental Impact Study, which is required for the drill permit application.
This is obviously an exciting time for the Company as it gears up for a major drill program at Rio Tabaconas, which has had little exploration since 2001. Results from 2001 were impressive, including 18 g/t gold over 16.4 metres, including 118 g/t gold over 2.15 metres, the latter of which also contained visible gold. Perhaps the stars were not aligned back in 2001 for the Company to continue exploring Rio Tabaconas, remember gold that year averaged $271. Fast forward to today with gold above $1,400 and demand increasing. Now, combine that with a potentially world class project and the Company’s planned drill program for 2011 starts to look really interesting. Stay tuned.