Goldrush Intersects 6.99 g/t Gold over 5.15 Metres in Fill-In Drilling at Ronguen Gold Deposit, Burkina Faso
01 Maggio 2012 - 3:00PM
Marketwired Canada
Goldrush Resources Ltd. (TSX VENTURE:GOD)(OTCQX:GDRRF) ("Goldrush" or the
"Company") is pleased to report assay results from the final 11 of 18 core holes
drilled as part of a larger 10,140 metre fill-in program which included 98
reverse circulation ("RC") drill holes on the Company's Ronguen Gold Deposit in
Burkina Faso, West Africa. Highlights of the drilling results include:
-- 6.99 g/t Au over 5.15 metres, in hole KGRC11-049, from 82.85 to 88.0
metres
-- 1.71 g/t Au over 9.0 metres, including 4.1 g/t Au over 1.0 metre and
5.89 g/t Au over 1.0 metre, in hole KGRC11-047, from 98.0 to 107.0
metres
-- 0.83 g/t Au over 17.5 metres, in hole KGRC11-046, from 110.5 to 128.0
metres
-- 4.72 g/t Au over 3.0 metres, in hole KGRC11-053, from 66.5 to 69.5
metres
The eleven core holes were collared on the southern margin of existing sections
of the G2 Grid, the westernmost of two overlapping grids on the Ronguen deposit,
and were designed (i) to test the down dip extension of mineralization
previously intersected in holes drilled farther north on the same sections and
(ii) to provide additional structural information on the deposit.
Core hole KGRC11-049 was drilled on section 140E and successfully traced, down
dip, the mineralization identified in reverse circulation holes KGRR11-237 (29
metres of 1.64 g/t Au from 18 to 47 metres), KGRR11-236 (18 metres of 1.73 g/t
Au from 46 to 64 metres) and KGRR11-235 (17 metres of 4.49 g/t Au from 66 to 83
metres). Core hole -049 was collared 65 metres south of hole -237, 40 metres
south of hole -236 and 15 metres south of -235.
Core hole KGRC11-047 was drilled on section 220E and intersected a higher grade
and longer interval of the mineralization than previously intersected in reverse
circulation holes KGRR11-221 (4 metres of 2.12 g/t Au from 40 to 44 metres) and
KGRR11-220 (1 metre of 1.01 g/t Au from 61 to 62 metres). Core hole -047 was
collared 75 metres south of hole -221 and 40 metres south of hole -220.
Len Brownlie, President and CEO of Goldrush, noted: "These diamond drill hole
results are the last drilling data that will be integrated into the Ronguen
resource model and will allow our consultants to complete an updated resource
estimate for the Ronguen gold deposit within 10 days. Going forward, an initial
program of trenching and pitting has been designed to follow-up on the potential
strike extension of the Ronguen South zone and to seek to confirm to the north
of the Ronguen Main zone a potential parallel gold zone that has been identified
by a resistivity high anomaly from a gradient induced polarization survey."
Assay Results
Significant intersections are noted above and in the following table:
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HOLE ID Line Station X-WGS84 Y-WGS84 Z-WGS84 Grid
(Grid (Grid
Co-ord) Co-ord)
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KGRC11-046 300 -158.5 655366.252 1466207.35 328.249 G2
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KGRC11-047 220 -85 655317.184 1466304.819 326.786 G2
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and
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KGRC11-048 180 -77.5 655282.136 1466325.382 326.611 G2
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KGRC11-049 140 -80.15 655243.749 1466337.452 326.626 G2
----------------------------------------------------------------------------
KGRC11-050 60 -114.7 655153.953 1466335.083 327.343 G2
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KGRC11-053 700 24.2 655804.686 1466236.126 329.125 G2
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and
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HOLE ID Hole From To Vertical Interval Gold
Length (m) (m) Depth (m)(2) Grade
(m) (m)(1) (g Au/t)
----------------------------------------------------------------------------
KGRC11-046 173 110.5 128.0 103.3 17.50 0.83
----------------------------------------------------------------------------
KGRC11-047 128 92.0 93.5 80.3 1.50 1.92
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and 98.0 107.0 88.8 9.00 1.71
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KGRC11-048 117 88.0 92.5 78.2 4.50 0.84
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KGRC11-049 117 82.9 88.0 74.0 5.15 6.99
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KGRC11-050 122 98.0 101.0 81.5 3.00 3.10
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KGRC11-053 140 66.5 69.5 58.9 3.00 4.72
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and 111.0 112.0 96.6 1.00 0.62
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(1) "Vertical depth" is the calculated depth to the centre of the
intersection.
(2) True widths are determined to be 90 to 95% of reported mineralized
intervals.
Each of the eleven holes intersected anomalous gold mineralization defined as at
least 1 metre of greater than 0.10 g/t
Au. Core hole lengths varied from 110 to 180 metres. All holes were drilled at
an azimuth of 24 degrees. Hole -050 was inclined at -55 degrees, with the
remaining holes at -60 degrees. A total of 1,065 metres were drilled in the
eleven diamond drill holes, which were sampled using nominal one metre sampling
intervals which can be modified by the logging geologist based on lithology,
alteration and/or mineralization.
Ronguen Exploration Plan
A total of 98 RC holes consisting of 7,793 metres and 18 core holes totalling
2,347 metres were completed in the fall 2011 drilling program on the Ronguen
gold deposit. A total of 1,325 linear metres in 13 trenches were also completed.
The trench samples have been delivered to the assay laboratory and results will
be announced when received and evaluated, but will not be able to be included in
the soon to be received resource estimate.
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 conglomerate that are intruded by plugs, and narrow dykes and sills of
gabbroic composition. The Ronguen mineralized zone is located in the structural
hanging wall of a major ENE thrust fault which recorded a tectonic transport
direction towards the north. The mineralized deformation corridor represents a
major ENE trending reverse fault zone, dipping moderately towards the south.
Gold mineralization is found in both metasedimentary and mafic intrusive rocks.
The gold mineralization is associated with quartz-carbonate veins/veinlets and
with sulphides occurring 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.
Correction of information disclosed on March 14, 2012 regarding drill results on
the Ouavousse Permit
Land surveys and title searches very recently conducted by the Company after the
completion of the 2011 RC drill program, have revealed that the Ministry of
Mines, Quarries and Energy of Burkina Faso in 2009 had inadvertently allowed the
Company to extend the Ouavousse permit partially over a permit that was granted
to another party in 2008, so that a small portion of the Company's Ouavousse
permit extension conflicts with the existing permit boundary. No notice has been
received by the Company from either the Government of Burkina Faso or the other
permit holder to advise of this overlap. In the 2011 RC drill program, four of
the 30 holes were drilled in this overlap area. Readers are cautioned that
assays from these holes, OUKR11-027 to -030, that were disclosed in the Press
Release dated March 14, 2012, should not be considered in evaluating the
prospectivity of the Ouavousse permit. The Company has approached the Ministry
of Mines and Quarries to rectify this situation, however the outcome of this
matter cannot be determined at this time.
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.
Samples are assayed using standard fire assay techniques on a 50 gram charge
with an atomic absorption finish. 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 7.5% of the total
samples submitted.
The core drilling was contracted to PPI Burkina sarl, based in Ouagadougou.
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.
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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