Gold Reach Resources is pleased to announce drilling results from holes 86 to 90 at the company's Seel Property, located adjacent to the producing Huckleberry Mine. Significant results are summarized in the table below.
The 2011 drill program has been extremely successful in achieving the company’s goal of significantly expanding the size of the Seel copper-gold porphyry system. Holes 88 and 90 were deep holes collared within the Seel copper-gold zone and were drilled toward the southwest to test the southwest margin of the zone at depth. Hole 88 was drilled at an angle of -60 degrees to a total depth of 810.2 metres and hole 90 at an angle of -80 degrees to a depth of 792.5 metres. Both holes are mineralized over their entire lengths. Hole 88 returned a 774.7 metre interval from the start of bedrock at 35.5 metres to the end of the hole at 810.2 metres grading 0.15 g/t gold, 0.16% copper, and 0.014% molybdenum. The upper part of the hole contains a near surface higher grade zone which returned 105.5 metres grading 0.44 g/t gold and 0.41% copper from 35.5 to 141 metres depth. Hole 90 returned a 764.5 metre interval from the start of bedrock at 28 metres to the end of the hole at 792.5 metres grading 0.2 g/t gold, 0.17% copper, and 0.003% molybdenum. This hole also encountered a near surface zone of higher grade mineralization containing 194 metres grading 0.42 g/t gold and 0.37% copper from 28 to 222 metres depth.
Summary of select drill intercepts - Seel Property
|Drill Hole||From (m)||To (m)||Width (m)*||Au g/t||Cu %||Mo%||Cu Eq.%**|
*Width refers to drill hole intercepts, true widths have not been determined.
**Cu Eq. (copper equivalent) has been used to express the combined value of gold, copper, and molybdenum as a percentage of copper, and is provided for illustrative purposes only. No allowances have been made for recovery losses that may occur should mining eventually result. Calculations use metal prices of US $2.50/lb copper, $1200/oz gold, and $10/lb molybdenum using the formula CuEq.% = Cu% + (Au g/t x 0.701) + (Mo% x 4.01).
Hole 86 was drilled 300 metres south of the Seel copper-gold zone and intersected intrusive rocks with strong alteration and anomalous copper, molybdenum and gold mineralization with the best intercept returning 46 metres grading 0.11 g/t gold, 0.14% copper, and 0.041% molybdenum. Hole 87 was collared on the north side of the Seel copper-gold zone and drilled toward the north at a dip of -50 degrees. This hole intersected 73 metres grading 0.17 g/t gold and 0.16% copper from the start of bedrock at 32.1 metres to 105 metre depth. Hole 89 was collared 100 metres northeast of the Seel copper-gold zone and intersected widespread alteration but only anomalous metal values.
Holes 88 and 90 contain the longest continuously mineralized intervals from the Seel Deposit to date and both end in mineralization showing the deposit is open at depth. These results, combined with previously released deep drill results from the 2011 drilling program, highlight the potential to significantly expand the resources at the Seel copper-gold Porphyry. Holes 88 and 90 have also intersected a near-surface zone of higher grade copper and gold mineralization encountered in other holes within the zone, significantly expanding the known area of near- surface higher grade mineralization.
A map showing the location of the 2011 drill holes at Seel is available on our website at www.goldreachresources.com.
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 qualified person under NI 43-101 has approved this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
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Investor Relations - Advanture Capital Partners 604.563.5028
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