Goldrush Resources Ltd. (TSX VENTURE: GOD)(OTCQX: GDRRF)(PINK
SHEETS: GDRRF) ("Goldrush" or the "Company") is pleased to announce
an 8,890 metre autumn 2011 drilling program to enhance and expand
the Company's Ronguen Gold Deposit that has a current inferred
resource of 5.9 million tonnes at a grade of 1.31 grams of gold per
tonne (g/t), containing 249,000 ounces of gold.
The current inferred gold resource at Ronguen was prepared by
SRK Consulting (Canada) Inc. and published in May, 2008. Subsequent
to the calculation of this estimate, the Company has completed
2,443 metres of core drilling in 14 holes; 7,661 metres of reverse
circulation ("RC") drilling in 83 holes; and 315 metres of
trenching in 3 trenches, along with approximately 7,300 metres of
rotary air blast ("RAB") drilling in 183 holes on the deposit.
Combining the results of this program and the new fall program will
enable the calculation of a new resource estimate, and form the
basis for an economic evaluation of the project.
The detailed objectives of the fall drilling program, which is
contracted to begin on September 26, include:
1. to advance the oxidized gold mineralization from the "inferred" to the
"indicated" category;
2. to expand the footprint of the deposit through exploratory drilling on
the east, north and west margins of the deposit; and
3. to follow-up on previous intersections of 2.14 g/t Au over 4 metres in
RC hole KGRR011-135 and 7.72 g/t Au over 6 metres in RAB hole KGRB-007-
151B, approximately 430 metres west of the currently defined western
limit of the deposit.
Goldrush's geologists have developed an 8,890 metre drill
program consisting of 1,725 metres of core drilling in 15 holes and
7,165 metres of RC drilling in 94 holes to accomplish objectives 1
and 2. The 8,890 metres is a portion of the total drilling of
10,000 metres of RC and 8,000 metres of core, from which objective
3 will be accomplished. In addition, selected targets on the
Company's other high priority exploration permits will be drilled,
including at least 1,000 metres of core drilling on the Company's
Salbo permit where shallow RAB drilling conducted in early 2011
intersected 1.74 g/t Au over 8 metres in hole SLBB11-023 and 2.12
g/t Au over 6 metres in hole SLBB11-030. As the Salbo permit is
located less than 40 kilometres south of Ronguen, the development
of a gold resource at Salbo would potentially enhance the viability
of an operation at Ronguen.
Commenting on the Ronguen drilling and development plan,
Goldrush President and CEO Len Brownlie said, "Our experienced
geological team is determined to move the Ronguen project towards a
production decision. While Goldrush is first and foremost a gold
exploration company, management is very motivated to leverage the
current gold price and uniform nature of the oxide resource at
Ronguen into a production scenario that could provide significant
cash flow, and finance future exploration programs without the need
for additional shareholder dilution."
The Company has entered into contracts with Forages
Technic-Eau/Burkina Sarl and Projet Production International BF
Sarl, respectively, to drill the 10,000 metres of RC and the 8,000
metres of core.
SRK Consulting has completed its preliminary fieldwork and will
provide a resource update following completion of the autumn drill
program at Ronguen. Mineralized samples of the deposit have been
selected for preliminary metallurgical testing by bottle roll
analysis. The Company has purchased a weather and environmental
monitoring station to collect baseline environmental data, and
discussions are underway with several consulting companies to
provide an Environmental Scoping Study which will guide future
detailed environmental and socio-economic studies.
The goal of this work is to examine the potential economic
viability of a mining project at Ronguen that would be
characterized by a conventional open pit mine providing near
surface oxide gold mineralization delivered to an onsite processing
facility that could involve conventional crushing and grinding and
gravity concentration, deposition on heap leach pads and gold
recovery on site. The Company plans to complete a Preliminary
Feasibility Study prior to the end of Q2, 2012 and, if appropriate,
proceed with a full feasibility study thereafter.
A geographic analogue of the proposed Ronguen production
scenario is the Cluff Gold PLC Kalsaka Gold Mine, which is located
approximately 40 kilometres west of Ronguen. Kalsaka is currently
in production from an open pit mine and recovers the gold with heap
leach treatment.
Quality Assurance/Quality Control
Goldrush maintains a rigorous quality control program involving
the use of certified standards from an accredited Canadian
laboratory, inserted blanks, and the use of repeat assays. Details
of Goldrush's quality control program were provided in the
Company's News Release #2010-13, dated October 25, 2010.
Mr. Driffield Cameron, P.Geo., Vice President, Exploration of
Goldrush, is the Qualified Person for this press release for the
purposes of National Instrument 43-101 and has reviewed the
technical information herein.
About Goldrush: Goldrush is a Canadian mineral exploration
company which has successfully focused on gold exploration in West
Africa, where the Company has discovered, and is currently
expanding and defining the 249,000 ounce (inferred resource of 5.9
million tonnes at a grade of 1.31 g/t Au) Ronguen gold deposit in
Burkina Faso.
For further information on Goldrush Resources Ltd., shareholders
and other interested parties are invited to visit the Company's
website at www.goldrushresources.ca.
ON BEHALF OF THE BOARD OF DIRECTORS,
GOLDRUSH RESOURCES LTD.
Len Brownlie - President and Chief Executive Officer
FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of Section 21E of
the United States Securities Exchange Act of 1934, as amended.
Except for statements of historical fact relating to the Company,
certain information contained herein constitutes forward-looking
statements. Forward-looking statements are frequently characterized
by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate" and other similar words, or statements
that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. These factors
include the inherent risks involved in the exploration and
development of mineral properties, the uncertainties involved in
interpreting drilling results and other geological data,
fluctuating metal prices, the possibility of project cost overruns
or unanticipated costs and expenses, uncertainties relating to the
availability and costs of financing needed in the future and other
factors. The Company undertakes no obligation to update
forward-looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to
place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Goldrush Resources Ltd. Don Willoughby VP Corporate
Development info@goldrushresources.ca www.goldrushresources.ca
Equicom Group Joe Racanelli (416) 815-0700 Ext. 243
jracanelli@equicomgroup.com www.equicomgroup.com
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