California Gold Project

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The California Gold Project comprises 126 hectares within the prolific California-Vetas Gold District, which is adjacent to La Bodega and Angostura gold deposits. The property is located approximately 55 kilometres northeast of Bucaramanga, which is the capital of the Department of Santander in Colombia. Elevation ranges from 2,400 to 2,700 metres above sea level, far below the Paramo boundaries.

The six properties, which collectively comprise the California Gold Project, are adjacent to and along strike from concessions which contain La Bodega gold deposit currently being developed by Mubadala Development. 

One of the acquired concessions were previously optioned by Calvista Gold which conducted a nine hole diamond drill program during 2011 and 2012. 

Hole From (m) To (m) Width (m) Au (g/t)
DDH-31 144.78 146.30 1.52 12.29
DDH-31 182.88 184.40 1.52 10.36
DDH-34 377.95 381.00 3.05 12.08
DDH-35 28.95 36.57 7.61 9.85
DDH-36 35.05 48.76 13.71 5.93
DDH-37 425.19 426.72 1.53 10.58

Red Eagle Exploration plans to advance the California Gold Project toward economic feasibility by the delineation of high-grade vein resources exploitable by modern underground mining methods. This work will initially involve compiling existing data, detailed underground mapping of existing mine workings, detailed underground channel sampling, and prioritizing targets for subsequent drifting along with surface and underground diamond drilling as soon as possible.

The California Gold Project is located approximately ten kilometres from Red Eagle Exploration's existing Vetas Gold Project, potentially resulting in operational synergies, including processing at a central mill.

Geology

California is situated in the Santander Massif of the eastern cordillera of the Andes Mountains. The massif is comprised of Precambrian gneisses, schists, quartzites and migmatites of the Guyana Shield. Intermediate to granitic instrusives of the Santander Plutonic Group were emplaced during a period of uplift in the Jurassic/Triassic era. Porphyry instrusive stocks and dikes in the immediate areas of mineralization may be as young as Tertiary in age. Regional faulting parallels the topographic fabric with the crustal-scale northwest trending Bucaramanga-Santa Marta wrench fault and the northeast trending Rio Cucutilla fault zone defining the principal structural trends.

Deposit

The gold-silver-copper mineralization in the California Gold Project is part of the same, large mineralizing system localized along a regional northeast-trending fault zone that also hosts the adjacent La Bodega deposit. Mineralization occurs in northeast, northwest and east-west striking, generally steeply north-dipping faulted structures containing high grade veins up to two metres in width. Vein mineralogy includes pyrite, chalcopyrite, sphalerite, and copper sulphides, with traces of silver minerals and sometimes visible gold.

California Vetas Properties Map Calvista Drilling Map Map Calvista Mines Map

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