Goldberg has completed the second campaign of 4,080 meters of drilling at the Target Chulula, owned by Admiralty Minerals (ADY:ASX). The campaign consisted of 18 reverse air drill holes of approximately 200 meters with several intercepts of high grade iron.

The Chulula prospect is located at the Harper Mines sector, immediately south of the Mariposa project. The goal of the campaign was to increase the density of drilling within the magnetic anomaly, and to verify the continuity of the iron mineralized bodies discovered in the first drilling campaign.

The second drilling campaign at Target Chulula began on September 4, 2012 and concluded on November 29 of the same year, completing 18 drillings of 226 meters average, with a maximum of 400 meters and a minimum of 150 meters, and inclinations that ranged from -80 ° to -60 °.

The results of the chemical analyzes showed high-grade iron intercepts in all the drillholes, and these in turn showed a high correlation with the high-resolution magnetometry performed by Quantec. The intercept of greatest interest was the one found in the ARCH13 hole , 28 meters long and an average grade of 38.23% iron.

However, several drillholes had long intercepts with iron grades above 20% , this is the case of the ARCH16, ARCH18 and ARCH23 drilling , which had intercepts between 28 and 36 meters long , with average grades slightly lower than the ARCH13 drilling.
The results allowed the identification of 3 high-grade iron mineralized bodies, which will be delimited during a third campaign, designed and executed by Goldberg, which will begin in December 2012.