Golden Alliance Corp. (OTC Other: GLNCF; TSX-V: GLL) has completed 2,271.95 metres of drilling across 10 drill holes at its Cocha copper-silver-gold project in Peru, the purpose of which was to drill test the South target and to test a deep IP-chargeability anamoly in the central area.
At Cocha South, significant intervals of copper-silver mineralization were intersected in holes CS-11-01, -02 and -03. The highest grades were found in CS-11-03, which cut 28.35m averaging 12.2 ppm silver and 0.45% copper. The longest intercept came from Hole CS-11-02, which cut 50.80m averaging 9.0 ppm silver and 0.30% copper. Hole CS-11-06 was a 115m stepout on section with CS-11-03, intended to test for down-dip extensions of the mineralization intersected in that hole.
At Cocha Central, the the drill program was targetng the deep IP chargeability anomaly. In so doinog, local zones of anomalous copper (up to 1,170 ppm) were intersected in the upper part of the hole. The causative source of the deep chargeability anomaly was not encountered, and the anomaly remains unexplained.