The Eldorado property is located 21 km southeast of Iskut Village in northern British Columbia . The Eldorado property is approximately 9 km along strike to the northeast of the Red Chris copper-gold deposit, operated by BC Metals. That operation is expected to produce more than 116,000 ounces of gold and 54 million kg of copper per year and have a 25 year mine life.
A 1980 reconnaissance drill program comprising of four short holes on the Eldorado cut two intersections with the following values:
Hole No.
Interval (m)
Cu (%)
80-2
3
0.21
80-4
3
0.23
In 2004, a work program was conducted including Induced Polarization, total Field Magnetometer and Soil Geochemistry surveys to test for porphyry copper style targets. Two Induced Polarization chargeability anomalies were found and are ready to be drill tested.
Regional Geology
This property is located in the Stikine terrane which is generally considered to be the northwesterly extension of the Quesnel terrane. These terranes host most of the alkalic porphyry copper-gold deposits in British Cloumbia.
Ownership
Candorado entered into an option agreement with Gravity West Mining Corp. Gravity West is required to make a cash payment of $50,000 and issue 200,000 shares to Candorado. Also, Gravity West is required to spend a minimum of $500,000 on exploration and issue a further 700,000 shares to earn a 60-per-cent interest in the property.
2007 Exploration
Gravity west is currently designing a comprehensive Induced Polarization survey to be followed by a drill program.
