03/10/2015
Electra announces acquisition of Kutcho Jade Project,
Dease Lake Region, British Columbia
Electragold Ltd. (TSXv: ELT) (FSE:A14NCM ) (the "Company" or "Electra") is pleased to announce the acquisition, by staking, of a Nephrite Jade project totaling 478 hectares located within the Liard Mining Division near Dease Lake, British Columbia.
Geology
The “Kutcho Jade Project” is approximately 85km east of the Town of Dease Lake. The property is underlain by Mississippian to Permian rocks of the Cache Creek Group, namely conglomerate, phyllite, tuff and limestone all intruded by bodies of serpentinite and diorite.
History
Kutcho Creek Placer Jade operations lay approximately 2km from the southern edge of the project boundary. The Kutcho Creek Area has been a significant source of Jade in British Columbia for over 30 years, trenching of alluvial Nephrite Jade boulders occurs seasonally from June through September each year. Road access to the property lies approximately 2km from the eastern boundary, the project is accessible by 4WD and all-terrain vehicles seasonally each year from the south and west.
A map of the Kutcho Jade Project can be found following the link below:
http://electragoldltd.com/projects/Jade/Kutcho_Map.pdf
Existing Projects
In Feb 2015 the company announced the acquisition by staking of the “Rustic Jade Project” 25 km north of the town of Cassiar and 8km north-east of the Cassiar Jade Mine.
Jade Market
Sales and price of B.C. Nephrite Jade have reportedly increased significantly over the past several years according to private producers. Increased interest in Nephrite Jade in South-East Asian countries, specifically China is the primary reason for the rise in demand.
Fore More Information Please Visit: http://electragoldltd.com/