Gold Reach Resources is pleased to announce drilling results from 2 holes at the company's Seel Property, located adjacent to the producing Huckleberry Mine. A total of 4500 metres of drilling in 9 holes has been completed to date. Results from hole 81 and results from the upper portion of hole 82 are summarized in the table below.
Hole 81 was a vertical hole drilled to a depth of 695 metres. The hole intersected a mineralized fault zone at 164 metres depth. Above the fault the zone contains consistent Cu and Au mineralization in strongly altered and veined porphyry intrusive. This upper zone, including the fault and surrounding rock, averages 0.34 g/t gold and 0.39% copper over 137.5 metres from
38.5 to 176 metres depth. The fault itself returned 8.56% copper and 223 g/t silver (7.87 ounces per tonne) over 1 metre from 163 to 164 metres depth. Below the fault the system remains strongly altered, however, the grades decrease and a late Ag-Zn-Pb-Cu metal association occurs locally. Lower grade sections below the fault include 76 metres grading 0.11% copper (from 176 to 252 metres) and 18 metres grading 0.1 g/t gold and 0.24% copper (from 594 to 612 metres).
Hole 82 was drilled at an angle of minus 70 degrees toward the southeast and reached a total depth of 731.5 metres. To date assay results have only been received for the upper 524 metres of hole 82. The hole has encountered 494.4 metres of continuous mineralization grading 0.23 g/t gold and 0.19% copper (from 29.6 to 524 metres depth) and the zone remains open at depth. The upper part of the hole returned 174.4 metres grading 0.4 g/t gold and 0.35% copper from 29.6 to 204 metres depth.
Both drill holes 81 and 82 have intersected a significant zone of higher grade gold and copper mineralization which sits close to surface, including 66 metres grading 0.47 g/t gold and 0.42% copper in hole 81 (38.5 to 104.5 metres depth) and 76 metres grading 0.47 g/t gold and 0.43% copper in hole 82 (50 to 126 metres depth). The presence of this higher grade zone situated near the surface could have an important positive impact on the potential economic viability of the Seel deposit, and the extent of this zone is being assessed during the current drill program.
Summary of select drill intercepts - Seel Property
|Drill Hole||From (m)||To (m)||Width (m)*||Au g/t||Cu %||Ag g/t||Zn %|
*Width refers to drill hole intercepts, true widths have not been determined
The recent drilling has shown the mineralized Cu-Au zone is continuous for over 450 metres vertically, and the zone still remains open at depth. This nearly doubles the previously drilled depth extent of the zone and opens up a lot of potential to significantly expand the resource. As a result of the excellent success of the current drill program a second drill rig has been added to the project and the total amount of metres drilled will be increased from 5500 metres to over 8000 metres.
All drill core is logged, photographed, and cut in half with a diamond saw. Half of the core is bagged and sent to SGS Mineral Services for analyses while the other half is archived and stored on site for verification and reference purposes. Gold is assayed by standard fire assay methods with additional elements analyzed by Induced Coupled Plasma (ICP). Duplicate samples, blanks, and certified standards are included with every sample batch and then checked to ensure proper quality assurance and quality control.
Dr. Shane Ebert, a person qualified under NI 43-101 has approved this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
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