SOURCE: Excelsior Gold Corp

Excelsior Gold Corp

May 22, 2013 08:18 ET

Excelsior Gold Corp (EXLA) to Access High-Grade Gold-Silver Zone at Excelsior Mine

WENATCHEE, WA--(Marketwired - May 22, 2013) - Excelsior Gold Corp, a wholly owned subsidiary of Helmer Directional Drilling (OTCBB: EXLA) filed a Notice of Intent with the USFS to open the caved portal, currently blocking access to a 10 ft (3m) wide, high grade gold - silver zone which runs between 0.54 opt Au and 1.22 opt Au and 47 opt Ag and 115 opt Ag, based on previous sampling by ASARCO (1967) and US Borax (1976).

The Excelsior Mine was mined for silver and gold prior to 1917, closing during WWI due to a shortage of steel and mine labor. Approximately 50,000 tons of moderate to high-grade ore were minded during this time period.

Current Excelsior management has located and is examining extensive records dating from 1934 to 2004 which indicate that the mine be operated at gold prices as low as $750/oz.

Doug McFarland, CEO
Excelsior Gold Corp

Contact Information

  • Paul Donaldson, PhD