Goldrush Intersects 38 Metres Averaging 1.49 g/t Gold and 6.25 g/t Gold Over 6 Metres in Infill Reverse Circulation Drilling ...
02 Novembre 2011 - 12:00PM
Marketwired Canada
Goldrush Resources Ltd. (TSX VENTURE:GOD)(OTCQX:GDRRF)(PINK SHEETS:GDRRF)
("Goldrush" or the "Company") is pleased to report assay results from the
initial 21 holes of a 94 hole reverse circulation ("RC") infill drilling program
on the Company's Ronguen Gold Deposit in Burkina Faso.
Highlights of the drilling results include:
-- 1.49 g/t Au over 38 metres in hole KGRR11-171
-- 6.25 g/t Au over 6 metres in hole KGRR11-166
-- 3.24 g/t Au over 11 metres in hole KGRR11-158
-- 1.66 g/t Au over 19 metres in hole KGRR11-175
-- 1.86 g/t Au over 16 metres in hole KGRR11-172
-- 1.09 g/t Au over 24 metres in hole KGRR11-165
All of the above intersections were centered at vertical depths of less than 30
metres from surface and were located on the G1 grid, the easterly of the two
overlapping grids at the Ronguen deposit. The most western hole highlighted
above, KGRR11-158, is located on section 935E, 35 metres west of section 970E on
which previously reported hole KGRR010-096 intersected 7.63 g/t gold over 15
metres at a depth of 12.7 metres, and 3.17 g/t gold over 22 metres at a depth of
31.1 metres (Goldrush news release #13-2010, October 25, 2010). The most
easterly hole highlighted above is hole KGRR11-175 (1.66 g/t gold over 19
metres), drilled on section 1260E. This set of holes confirm the presence of
significant gold mineralization over an east-west span of 325 m.
The density of drill holes in this area is designed to define and upgrade the
oxide portion of the gold mineralization in the Ronguen deposit to the indicated
category in preparation for an updated resource estimate anticipated to be
received in late Q1, 2012. A surface plan showing the drill hole locations is
available at www.goldrushresources.ca.
Commenting on the assay results, Goldrush President and CEO Len Brownlie said:
"In addition to the results of the drilling since the last resource estimate in
2008, these results reported from the first 20% of the RC drill program have
been very positive and bode well for a significant upgrade in both the
classification and size of the Ronguen resource. With an expanded, high quality
exploration team in place, and with core, RC and RAB drills under contract,
Goldrush is working flat out to complete both RC and core drilling programs at
Ronguen, core drilling at the Salbo permit, and up to 11,000 metres of RAB
drilling on the recently acquired Pompoi and Rima permits by Christmas. This is
an exciting time to be a Goldrush shareholder. Never before has the Company been
able to a provide such exceptional targets and the funding necessary to conduct
advanced exploration on so many projects at once. We look forward to the steady
flow of news from these drill programs in the next several months."
Assay Results
Significant intersections are noted above and in the following table:
---------------------------------------------------------------------------
Grid Gold
HOLE ID Line Station (3) From From Interval Grade Vertical
---------------------------------------------------------------------------
(Grid (Grid depth
Co-ord) Co-ord) (m) (m) (m)(2) (g Au/t) (m)(1)
---------------------------------------------------------------------------
KGRR11-157 380 -15 G2 19 34 8 1.27 22.9
---------------------------------------------------------------------------
KGRR11-158 935 0 G1 28 39 11 3.24 29.0
---------------------------------------------------------------------------
KGRR11-159 935 25 G1 18 27 9 1.57 19.5
---------------------------------------------------------------------------
KGRR11-160 992.5 -50 G1 23 33 10 1.37 24.2
---------------------------------------------------------------------------
KGRR11-161 992.5 -25 G1 7 14 7 2.05 9.1
---------------------------------------------------------------------------
and 17 28 11 0.93 19.5
---------------------------------------------------------------------------
and 39 60 21 1.04 42.9
---------------------------------------------------------------------------
KGRR11-162 992.5 0 G1 55 64 9 1.21 51.5
---------------------------------------------------------------------------
KGRR11-163 992.5 50 G1 44 51 7 1.33 41.1
---------------------------------------------------------------------------
KGRR11-165 1015 -30 G1 20 44 24 1.09 26.2
---------------------------------------------------------------------------
KGRR11-166 992.5 25 G1 26 32 6 6.25 25.1
---------------------------------------------------------------------------
and 57 64 7 1.2 52.4
---------------------------------------------------------------------------
KGRR11-167 1015 25 G1 29 49 20 1.36 33.8
---------------------------------------------------------------------------
KGRR11-168 1037.5 -25 G1 27 33 6 2.1 26.0
---------------------------------------------------------------------------
KGRR11-169 1037.5 0 G1 37 48 11 1.04 36.8
---------------------------------------------------------------------------
KGRR11-170 1037.5 25 G1 27 42 15 1.53 29.9
---------------------------------------------------------------------------
and 45 53 8 1.6 42.4
---------------------------------------------------------------------------
KGRR11-171 1037.5 50 G1 0 38 38 1.49 16.5
---------------------------------------------------------------------------
and 42 48 6 2.87 39.0
---------------------------------------------------------------------------
KGRR11-172 1100 52.5 G1 13 18 5 1.56 12.7
---------------------------------------------------------------------------
and 22 38 16 1.86 24.6
---------------------------------------------------------------------------
KGRR11-173 1100 105 G1 12 16 4 2.99 11.5
---------------------------------------------------------------------------
KGRR11-174 1180 20 G1 9 13 4 1.98 9.0
---------------------------------------------------------------------------
and 16 26 10 1.13 17.2
---------------------------------------------------------------------------
KGRR11-175 1260 -90 G1 0 19 19 1.66 7.8
---------------------------------------------------------------------------
and 22 29 7 1.13 20.9
---------------------------------------------------------------------------
and 50 59 9 1.06 44.6
---------------------------------------------------------------------------
Assay results representative of the distribution of gold mineralization
throughout the drill holes are provided in the following table:
---------------------------------------------------------------------------
Grid Gold
HOLE ID Line Station (3) From From Interval Grade Vertical
---------------------------------------------------------------------------
(Grid (Grid depth
Co-ord) Co-ord) (m) (m) (m)(2) (g Au/t) (m)(1)
---------------------------------------------------------------------------
KGRR11-155 380 -65 G2 51 54 3 0.73 45.5
---------------------------------------------------------------------------
KGRR11-156 380 -40 G2 46 49 3 0.87 41.1
---------------------------------------------------------------------------
and 52 54 2 2.29 45.9
---------------------------------------------------------------------------
KGRR11-157 380 -15 G2 19 34 8 1.27 22.9
---------------------------------------------------------------------------
KGRR11-158 935 0 G1 8 10 2 3.04 7.8
---------------------------------------------------------------------------
and 28 39 11 3.24 29.0
---------------------------------------------------------------------------
and 43 44 1 4.19 37.7
---------------------------------------------------------------------------
and 57 62 5 1.61 51.5
---------------------------------------------------------------------------
and 73 78 5 0.59 65.4
---------------------------------------------------------------------------
KGRR11-159 935 25 G1 7 11 4 0.73 7.8
---------------------------------------------------------------------------
and 18 27 9 1.57 19.5
---------------------------------------------------------------------------
and 34 38 4 2.11 31.2
---------------------------------------------------------------------------
KGRR11-160 992.5 -50 G1 23 33 10 1.37 24.2
---------------------------------------------------------------------------
and 37 46 9 0.8 35.9
---------------------------------------------------------------------------
KGRR11-161 992.5 -25 G1 7 14 7 2.05 9.1
---------------------------------------------------------------------------
and 17 28 11 0.93 19.5
---------------------------------------------------------------------------
and 39 60 21 1.04 42.9
---------------------------------------------------------------------------
KGRR11-162 992.5 0 G1 13 15 2 1.29 12.1
---------------------------------------------------------------------------
and 55 64 9 1.21 51.5
---------------------------------------------------------------------------
and 70 75 5 1.17 62.8
---------------------------------------------------------------------------
KGRR11-163 992.5 50 G1 25 37 12 0.65 26.8
---------------------------------------------------------------------------
and 44 51 7 1.33 41.1
---------------------------------------------------------------------------
KGRR11-164 992.5 75 G1 3 7 4 0.86 4.3
---------------------------------------------------------------------------
KGRR11-165 1015 -30 G1 20 44 24 1.09 26.2
---------------------------------------------------------------------------
KGRR11-166 992.5 25 G1 26 32 6 6.25 25.1
---------------------------------------------------------------------------
and 57 64 7 1.2 52.4
---------------------------------------------------------------------------
KGRR11-167 1015 25 G1 29 49 20 1.36 33.8
---------------------------------------------------------------------------
and 56 60 4 1.13 50.2
---------------------------------------------------------------------------
KGRR11-168 1037.5 -25 G1 27 33 6 2.1 26.0
---------------------------------------------------------------------------
KGRR11-169 1037.5 0 G1 37 48 11 1.04 36.8
---------------------------------------------------------------------------
and 63 65 2 2.31 55.4
---------------------------------------------------------------------------
and 68 71 3 1.04 60.2
---------------------------------------------------------------------------
KGRR11-170 1037.5 25 G1 19 21 2 1.36 17.3
---------------------------------------------------------------------------
and 27 42 15 1.53 29.9
---------------------------------------------------------------------------
and 45 53 8 1.6 42.4
---------------------------------------------------------------------------
KGRR11-171 1037.5 50 G1 0 38 38 1.49 16.5
---------------------------------------------------------------------------
and 42 48 6 2.87 39.0
---------------------------------------------------------------------------
KGRR11-172 1100 52.5 G1 0 3 3 1.83 1.2
---------------------------------------------------------------------------
and 6 8 2 1.38 5.7
---------------------------------------------------------------------------
and 13 18 5 1.56 12.7
---------------------------------------------------------------------------
and 22 38 16 1.86 24.6
---------------------------------------------------------------------------
KGRR11-173 1100 105 G1 12 16 4 2.99 11.5
---------------------------------------------------------------------------
KGRR11-174 1180 20 G1 9 13 4 1.98 9.0
---------------------------------------------------------------------------
and 16 26 10 1.13 17.2
---------------------------------------------------------------------------
KGRR11-175 1260 -90 G1 0 19 19 1.66 7.8
---------------------------------------------------------------------------
and 22 29 7 1.13 20.9
---------------------------------------------------------------------------
and 50 59 9 1.06 44.6
---------------------------------------------------------------------------
(1) "Vertical depth" is the calculated depth to the centre of the
intersection.
(2) True widths are determined to be 90 to 95% of core intervals.
(3) All G1 Grid holes were drilled at an azimuth of 340 degrees; all G2
holes were drilled at an azimuth of 24 degrees.
Drill hole lengths varied from 45 to 110 metres; hole numbers KGRR11-155 to 164
and - 166 - 171 were drilled with a common inclination of -60 degrees while
holes KGRR11165 and 172 -175 were drilled at an inclination of -55 degrees. A
total of 1,522 metres was drilled in the twenty RC holes and continuously
sampled at one metre intervals for assaying.
Ronguen Deposit Mineralization
The Ronguen gold deposit is located within the northeastern part of the highly
prospective Birimian age Boromo greenstone belt in Burkina Faso. The local
geology at Ronguen is dominated by an east northeast ("ENE") trending
metasedimentary sequence consisting of interlayered siltstone, mudstone and
minor conglomerates that are intruded by plugs, and narrow dykes and sills of
gabbroic composition. The Ronguen mineralized zone is located in the structural
footwall of a major ENE thrust fault which recorded a tectonic transport
direction towards the north. The mineralized deformation corridor represents a
major ENE trending high angle reverse fault zone, dipping moderately to steeply
towards the south. Gold mineralization is found in both metasedimentary and
mafic intrusive rock; there are no obvious lithological controls yet recognized
at this epigenetic gold deposit. The gold mineralization is associated with
quartz-carbonate veins/veinlets and with sulphides occuring as disseminations
and patches, and in veinlets. Two sets of gold-bearing quartz veins are
developed: subvertical shear veins parallel to the shear zone foliation and to
the shear zone boundaries, and subhorizontal extension veins. Small quartz
stockworks are present and represent a part of the gold mineralization.
Future Results and Exploration
Ronguen and Tikare Permits
The Company is awaiting reverse circulation drilling assay results from an
additional 37 holes drilled on the Ronguen gold deposit, as part of the
Company's ongoing 94 hole, 7,165 metre RC drilling program. As of October 30,
the RC drill had completed 4,556 metres in 58 holes at Ronguen. In addition to
the current RC program, 2,200 metres of core drilling on both the Ronguen
deposit and step-out targets on the Tikare permit were initiated on November 1,
2011.
The Company is also awaiting preliminary metallurgical results from 96 hour
bottle roll testing conducted on representative samples of mineralized material
from the Ronguen deposit.
Salbo Permit
Following the Tikare program, the core drill will be moved to the Salbo permit
to drill approximately 1,000 metres to follow up on promising results where
shallow rotary air blast ("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.
Pompoi Permit
To aggressively accelerate exploration at the Company's Pompoi permit, located
contiguous with and to the east of Roxgold Inc.'s Yaramoko permit, the Company
has entered into a contract with Forages Technic-Eau Burkina sarl to drill up to
11,000 metres of RAB on Pompoi beginning in mid November 2011. Exploration by
Roxgold to less than two kilometers to the west, on the Bagassi zone which
strikes towards the Pompoi permit, has recently provided high grade gold
intersections up to 53.56 g/t Au over 8 metres and 123.84 g/t Au over 5.4 metres
as respectively reported in October 4 and 19, 2011, Roxgold news releases. The
remaining interests of Riverstone Resources Inc. in the Yaramoko permit and two
other Burkina permits were acquired on October 25, 2011 by Roxgold, subsequent
to a binding letter agreement announced in a September 21, 2011 news release,
for a total consideration of approximately $36 million.
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.
The SGS laboratory in Ouagadougou, Burkina Faso was used for sample analysis.
For its internal control, SGS inserted two certified standards and one blank,
and analyzed one random duplicate for approximately each 25 samples submitted.
For its certified standard and blank samples included in the QA-QC procedure,
Goldrush averaged 11.0% of the total samples submitted.
The drilling was contracted to Forages Technic-Eau/Burkina sarl based in
Ouagadougou, Burkina Faso.
Mr. Driffield Cameron, P. Geo., Director 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.
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
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 tones at a grade of 1.31 g/t Au) Ronguen gold deposit in
Burkina Faso.
About Burkina Faso: Burkina Faso is a politically and economically stable West
African democracy that relies on farming and mining as it primary sources of
foreign exchange. Burkina Faso saw gold production double from 2008 to 2010 and
is currently the fifth largest gold-producing country in Africa. Control Risks,
a global consultancy specializing in political, security and integrity risk,
ranked Burkina Faso #3 in their 2011 World Risk Survey - countries with least
risk. The World Risk Survey asked respondents to rank their perception of risk
in the following categories: financial risk, sovereign risk, land access, green
tape, land claims, red tape, social risk, infrastructure, civil unrest, natural
disasters and labour relations.
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.
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