September 17, 2013: Vancouver, British Columbia: Gold Reach Resources Ltd. (GRV: TSX-V) (Gold Reach and/or the Company) is pleased to announce that assay results for holes Ox13-100 to 105 from the Ox deposit have been received. The Ox deposit is located 4 kilometres north-northeast of the Company’s West Seel discovery, and both deposits occur on the Company’s 100% owned Ootsa Property located adjacent to the producing Huckleberry Mine south of Smithers, British Columbia.
HIGHLIGHTS
- More High Grade Material Encountered
- Hole Ox13-100 intersected 56m of 0.60% copper equivalent from 41 to 97m depth.
- Hole Ox13-102 intersected 24.2m of 0.64% copper equivalent from 100 to 124.2m depth.
- Hole Ox13-103 intersected 16m of 0.65% copper equivalent and another 18m of 0.68% copper equivalent starting at 12m depth.
- Additional Strong Molybdenum Mineralization Intersected
- Hole Ox13-100 intersected 56m of 0.041% molybdenum along with 0.37% copper.
- Hole Ox13-102 intersected 24.2m of 0.055% molybdenum along with 0.36% copper.
- Hole Ox13-103 intersected 56.8m of 0.046% molybdenum along with 0.31% copper.
- Hole Ox13-104 intersected 36.8m of 0.037% molybdenum along with 0.32% copper.
The 2013 drilling at the Ox deposit has focused on infilling and expanding near surface mineralization along a higher grade core that runs the length of the system, and is looking to increase resource categories, tonnage, and grade of the deposit. The drilling program is now focusing on infilling and expanding the large resource base at the Seel deposit.
Ox Drill Results
An updated drill hole location map for Ox is available here
http://www.goldreachresources.com/_resources/maps/20130913_Ox_2013_drill_hole_location_map.png
and cross sections L-L’, and H.5-H.5’showing holes Ox13-96 to 99 are available here
http://www.goldreachresources.com/_resources/maps/20130913_Ox_Sec_H-5_2013.png
http://www.goldreachresources.com/_resources/maps/20130913_Ox_Sec_G-G_2013.png
http://www.goldreachresources.com/_resources/maps/20130913_Ox_Sec_D-5_2013.png.
Hole Ox13-100 was a step out hole on section H.5 – H.5’ and has extended the zone of strong mineralization to the west. The hole returned 89 metres grading 0.31% copper and 0.032% molybdenum (0.50% copper equivalent) from 11 to 100 metres depth, including 56 metres grading 0.37% copper and 0.041% molybdenum (0.60% copper equivalent) from 41 to 97 metres depth. Mineralization remains open to the west on this section.
Holes Ox13-101 and 102 are shown on section G-G’ and are step out holes on the west side of the section. Both holes have successfully expanded mineralization and the mineralized zone remains open to the west. Hole Ox13-101 returned 111.9 metres grading 0.26% copper and 0.026% molybdenum (0.40% copper equivalent) from 28 to 139.9 metres depth, including 49.9 metres grading 0.30% copper and 0.038% molybdenum (0.50% copper equivalent) from 90 to 139.9 metres depth. Hole Ox13-102 returned 58.2 metres grading 0.33% copper and 0.041% molybdenum (0.54% copper equivalent) from 66 to 124.2 metres depth, including 24.2 metres grading 0.36% copper and 0.055% molybdenum (0.64% copper equivalent) from 100 to 124.2 metres depth.
Summary of select drill intercepts – Holes Ox13-100 to 105
Drill Hole |
From (m) |
To (m) |
Width (m)* |
Cu % |
Mo% |
Au g/t |
Ag g/t |
Cu Eq.%** |
| Ox13-100 |
11.0 |
100.0 |
89.0 |
0.31 |
0.032 |
0.06 |
2.45 |
0.50 |
| including |
41.0 |
97.0 |
56.0 |
0.37 |
0.041 |
0.06 |
3.05 |
0.60 |
| Ox13-101 |
28.0 |
139.9 |
111.9 |
0.26 |
0.026 |
0.04 |
1.16 |
0.40 |
| including |
90.0 |
139.9 |
49.9 |
0.30 |
0.038 |
0.05 |
1.43 |
0.50 |
| Ox13-102 |
66.0 |
124.2 |
58.2 |
0.33 |
0.041 |
0.04 |
2.17 |
0.54 |
| including |
100.0 |
124.2 |
24.2 |
0.36 |
0.055 |
0.05 |
2.48 |
0.64 |
| Ox13-103 |
7.6 |
64.4 |
56.8 |
0.31 |
0.046 |
0.05 |
1.31 |
0.54 |
| including |
12.0 |
28.0 |
16.0 |
0.35 |
0.063 |
0.05 |
1.43 |
0.65 |
| including |
40.0 |
58.0 |
18.0 |
0.43 |
0.043 |
0.09 |
2.12 |
0.68 |
| Ox13-104 |
5.3 |
79.8 |
74.5 |
0.25 |
0.034 |
0.03 |
1.03 |
0.42 |
| including |
43.0 |
79.8 |
36.8 |
0.32 |
0.037 |
0.04 |
1.25 |
0.51 |
| Ox13-105 |
5.3 |
57.5 |
52.2 |
0.19 |
0.026 |
0.03 |
0.94 |
0.32 |
| Ox13-105 |
62.0 |
184.0 |
122.0 |
0.22 |
0.026 |
0.03 |
1.26 |
0.36 |
| including |
62.0 |
130.0 |
68.0 |
0.26 |
0.031 |
0.04 |
1.39 |
0.42 |
*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 copper, molybdenum, gold and silver 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, $15 silver, and $10/lb molybdenum using the formula Cu Eq.% = Cu% + (Au g/t x 0.701) + (Ag g/t x 0.0087) + (Mo% x 4.01).
Holes Ox13-103, 104, and 105 were infill holes drilled within a gap between sections D-D’ and E-E’ and are shown on section D.5-D.5’. Hole Ox13-103 returned 56.8 metres grading 0.31% copper and 0.046% molybdenum (0.54% copper equivalent) from 7.6 to 64.4 metres depth, including 16 metres grading 0.35% copper and 0.063% molybdenum (0.65% copper equivalent) from 12 to 28 metres depth and another 18 metres grading 0.43% copper and 0.043% molybdenum (0.68% copper equivalent) from 40 to 58 metres depth. Hole Ox13-104 returned 74.5 metres grading 0.25% copper and 0.034% molybdenum (0.42% copper equivalent) from 5.3 to 79.8 metres depth, including 36.8 metres grading 0.32% copper and 0.037% molybdenum (0.51% copper equivalent) from 43 to 79.8 metres depth. Hole Ox13-105 was the western most hole on the section and returned 184 metres grading 0.22% copper and 0.026% molybdenum (0.36% copper equivalent) from 62 to 184 metres depth, including 68 metres grading 0.26% copper, 0.031% molybdenum (0.42% copper equivalent) from 62 to 130 metres depth.
The drilling results continue to define and expand the mineralized zone at Ox. A zone of higher grade mineralization adjacent to the intrusive contact runs the length of the deposit (860 metres) and shows very good continuity. Zones of very strong molybdenum mineralization, in addition to copper and locally precious metals, occur within the core of the deposit.
Drilling Update
Assay results for the first 61 holes drilled at Ox during the 2013 program have been received (holes Ox13-45 to Ox13-105). An additional 28 holes have been completed at Ox (Ox13-106 to 134) and are in the lab getting assayed. Four holes have been completed at East Seel (S13-147, 148, 149 and 151). One drill is currently working on hole S13-152 at East Seel and the second drill is working on hole S13-150 at West Seel.
The current round of drilling is focusing on infilling and expanding three areas of higher grade near-surface mineralization with open pit potential at Ox, East Seel, and West Seel. Previous drilling in all three zones has intersected significant grades at shallow depths including hole S11-90 at East Seel which returned 194 metres grading 0.37% copper and 0.42 g/t gold (0.66% copper equivalent) starting at 22 metres depth (previously released), hole S06-42 just north of East Seel which returned 138 metres grading 0.85% Cu and 23 g/t Ag (1% copper equivalent) starting at 22 metres depth (previously released), and hole S12-108 at West Seel which intersected 316 metres grading 0.56% copper equivalent starting at 24 metres down hole, including 30 metres grading 1% copper equivalent starting at 74 metres down hole.
Additional information is available on our website at www.goldreachresources.com.
About Gold Reach Resources
Gold Reach Resources Ltd. has made an important new and strategic Copper Gold Molybdenum discovery on its 100% held Ootsa Property located adjacent to the 16,000 tonne per day Huckleberry Mine currently producing Cu Au and Mo in central BC.
Gold Reach’s Ootsa property is an advanced stage exploration project containing the Seel and Ox porphyry systems both with compliant resource estimates open for expansion. The Company has recently added the discovery of the West Seel Porphyry where drill hole S12-118 encountered 128 metres grading 1.01% Cu Eq. consisting of 0.43% Cu, 0.33 g/t Au, 0.076% Mo and 4.76 g/t Ag within a much larger interval of 537 metres grading 0.65% Cu Eq. consisting of 0.27% Cu, 0.19 g/t Au, 0.055% Mo, and 2.69 g/t Ag. The Seel deposit contains 67.8 million tonnes of indicated resources and 410.9 million tonnes of inferred resources at a 0.2% copper equivalent cut off. The Ox deposit contains 52.65 million tonnes of inferred resources at a 0.2% copper equivalent cut off.
Quality Control
All drill core is logged, photographed, and cut in half with a diamond saw. Half of the core is bagged and sent to AGAT Laboratories for analysis (which is an ISO 9001 and ISO/IEC 17025 certified lab), while the other half is archived and stored on site for verification and reference purposes. Gold is assayed by standard fire assay methods with 45 additional elements analyzed by Induced Coupled Plasma (ICP) utilizing a 4-acid digestion. 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 P.Geo., President of the Company, is the Qualified Person for the Ootsa project as defined by National Instrument 43-101 and has approved the technical disclosure contained in this news release.
“Shane Ebert”
Shane Ebert, President/Director
For Further information, please contact:
Telephone: 604-718-5454
S. Ebert direct line: 250 964-2699
Toll Free: 888-500-4587
http://goldreachresources.com
Or
B&D Capital Partners
Don Mosher
Telephone: 604-685-6465
Don@bdcapital.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Safe Harbour Statement: The Company relies upon litigation protection for “forward-looking statements.” The Company undertakes no obligation to update these forward- looking statements in the managements beliefs, estimates obligations or other factors should change.