GNCC Capital, Inc. (OTC:GNCP) has today published the initial
assay results on grab sampling at our “White Hills” Exploration
Property situated on 1,840 acres in Mohave County, Arizona ;
overseen by one of our Consulting Geologists, Craig Parkinson.
This a preliminary report and the final report from the Assay
Laboratory will be published this week which will include an
additional 66 elements. Link to this filing, filed today on the OTC
Markets as a Supplementary Information Filing:
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=118312
Craig Parkinson advises Company Management that he expects to
complete his report on “White Hills” by the end of this week. This
report is taking longer than expected as “White Hills” includes at
least five past-producing known mines and there is a significant
amount of data on them.
Craig Parkinson has taken a large amount of labelled
photographs, including the grab samples of the “White Hills”
properties, these will be prepared as a presentation and published
this week.
The Company published previous assay results from a former
drilling campaign at “White Hills, on the OTC Markets as a
Supplementary Information Filing on December 16, 2013, a link to
this filing:
http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=114914.
The Company uploaded a video taken by Craig Parkinson on the
“White Hills” property, this may be viewed here:
https://www.youtube.com/watch?v=PGrDk6tZMzQ
These reports are being made available as part of the Company’s
policy on complete transparency.
Company Policy on Grab Sampling:
The Consulting Geologists have to do what they feel is
appropriate for an initial independent assessment of each property
in terms of where to sample, what to sample, and what type of
sample to take, given that each property is different with respect
to number of workings, number of mineralized showings, style of
mineralization, number and length of faults and breccia zones,
geology, structures, etc. Our policy is now to increase our grab
sampling collection to a minimum of not less than 150 samples; this
being for each and every one of our Exploration Properties.
Grab sampling constitutes the random selection of rock samples
at random intervals for evaluation and detection of trace
mineralization of the mineral being studied.
Typical surface mineralization could, dependent on the
geophysical structure and history of the region, present a
geochemical indication of underlying ore mineralization and
potentially justify further research.
Whilst grab sampling is a rudimentary method of exploration,
positive traces of the sought mineral would typically confirm the
existence of that mineral below surface, although the actual
structure and composition of the ore body would have to be defined
by more advanced exploration methods.
A complete lack of trace mineralization would under certain
conditions be cause for concern, as it would indicate a potential
lack of the mineralization being sought, or a lack of geophysical
movement in the earth’s crust to churn the trace minerals towards
the surface.
Management Commentary:
Management will continue to review all of the data from further
grab sampling that is currently underway in order to confirm
results in areas where better results have previously been
obtained. As previously stated, Management views the use of new
radar scanning technology to be of more use insofar as the
gathering of workable data and to provide reasonably accurate
indications as to where we should drill straight into the ore
body.
The Company is keeping the grab sampling and the resulting assay
reports to very reasonable cost in order to confirm activity until
such time as the radar scanning technology is deployed on our
various exploration properties.
These assay results are the first in a series of more than a
dozen similar reports that will be evaluated over the coming weeks
and months. Management will publish all of these reports as they
become available.
Consulting Geologist Craig Parkinson has submitted his assay
results for the interim sampling at “White Hills” Management and he
notes that some of the grab samples results are encouraging and
justify further exploration efforts which are in the planning
stages. Investors are cautioned that whilst grab samples can be
indicative of potential positive future results, much more work
needs to be completed before a definitive outcome can be predicted.
This work program to prove up resources and eventually reserves
will constitute the bulk of management efforts over the coming
months and shareholders will be kept abreast of developments
Craig Parkinson, one of the Consulting Geologists will be
returning to the Company’s “Clara, Burnt Well and Kit Carson”
exploration properties on April 7, 2014 to recommence work on the
reports on those enlarged properties, take significantly more grab
samples and will prepare video and detailed photographs on each
property.
OTHER COMMENTS:
The Company has received final comments from third party
consultants as were required to complete its Q1 Financial Report
for the three month period ended December 31, 2013. The Company
will publish its Q1 Report in and during this week. The Filing of
this Report restores the Company to that of a “Current Information
Filer” on the OTC Markets. The OTC Markets has just placed a “STOP”
annotation to the Company’s filings due to our late filing of this
Q1 Report.
About GNCC Capital, Inc.:
GNCC Capital, Inc. is primarily a Gold Exploration Company, with
a secondary focus on Silver Exploration. The Company’s current
exploration properties are located in Arizona and consist of “White
Hills, Esther Basin, Burnt Well, Clara, Kit Carson, Silverfields
and Potts Mountain". The Company intends to create significant
value for its initial portfolio of properties through continued
exploration, joint ventures, and through the acquisition of
additional Gold and Silver Exploration assets. GNCC Capital, Inc.
is a current information filer on the OTC Markets under the symbol
“GNCP”.
Forward-Looking Statements:-
This press release may contain forward-looking statements. The
words "believe," "expect," "should," "intend," "estimate,"
"projects," variations of such words and similar expressions
identify forward-looking statements, but their absence does not
mean that a statement is not a forward-looking statement. These
forward-looking statements are based upon the Company's current
expectations and are subject to a number of risks, uncertainties
and assumptions. The Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise. Among the important factors that could
cause actual results to differ significantly from those expressed
or implied by such forward-looking statements are risks that are
detailed in the Company's filings, which are on file with the OTC
Markets Group.
GNCC CAPITAL, INC.N.E. “Ted” Blom – President &
CEOTelephone: (702) 951-9793corporate@gncc-capital.comorInvestor
Relations Contact:E Mail: investor@gncc-capital.comWeb Site:
www.gncc-capital.comTwitter: https://twitter.com/GNCCCapital
[We would be very appreciative if all investor questions be
directed to this E mail address and not to our telephone voicemail
until such time as we have appointed a dedicated Investors
Relations Firm who will deal with all telephonic enquiries]
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