Goldrush Intersects 3.33 g/t Gold Over 24 Metres and 5.4 g/t Gold Over 6 Metres in Fill-In Drilling at Ronguen Gold Deposit, Burkina Faso, West Africa
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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/05/12 -- Goldrush Resources Ltd. (TSX VENTURE: GOD)(OTCQX: GDRRF) ('Goldrush' or the 'Company') is pleased to report the assay results from a third group of 16 reverse circulation ('RC') holes of a 98 hole fill-in drilling program on the Company's Ronguen Gold Deposit in Burkina Faso. Highlights of the drilling results include:
-- 3.33 g/t Au over 24 metres and 1.01 g/t Au over 14 metres, in hole
KGRR11-202
-- 5.4 g/t Au over 6 metres, in hole KGRR11-211
-- 2.79 g/t Au over 11 metres, in hole KGRR11-198
-- 1.40 g/t Au over 17 metres, in hole KGRR11-203
-- 1.46 g/t Au over 10 metres, in hole KGRR11-212
All of the above intersections were located in the eastern or far eastern half of the G1 grid, the eastern of two overlapping grids at the Ronguen deposit. where the 16 drill holes were collared within an east-west distance of 520 metres (from lines 860E to 1380E) and a north-south distance of up to 245 metres (from stations 0N to 245S). All significant intersections were encountered in weathered (oxidized) bedrock. The density of drill holes in this area is designed to define and upgrade the oxide portion of the gold mineralization to the indicated category in preparation for an updated resource estimate anticipated to be received in late Q1, 2012.
Assay Results
Significant intersections are noted above and in the following table:
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Grid Interval
HOLE ID(3) Line Station (1) From To (2) Gold Vertical
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(Grid (Grid
Co-ord) Co-ord) (m) (m) (m) Grade Depth(1)
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(g Au/t) (m)
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KGRR11-197 1037.5 -50 G1 11 14 3 1.7 10.8
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KGRR11-197 1037.5 -50 G1 17 21 4 1.78 16.5
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KGRR11-198 1060 -135 G1 54 65 11 2.79 51.5
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KGRR11-199 1100 -150 G1 37 47 10 0.72 34.4
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KGRR11-199 1100 -150 G1 62 68 6 1.9 53.2
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KGRR11-200 1100 -125 G1 48 52 4 1.51 41.0
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KGRR11-201 1100 -100 G1 34 43 9 0.95 31.5
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KGRR11-202 1100 -75 G1 3 8 5 1.18 4.5
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KGRR11-202 1100 -75 G1 21 45 24 3.33 27.0
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KGRR11-202 1100 -75 G1 48 62 14 1.01 45.1
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KGRR11-203 1100 -50 G1 30 47 17 1.4 31.5
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KGRR11-204 1100 -25 G1 35 41 6 1.03 31.1
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KGRR11-204 1100 -25 G1 45 55 10 1.07 41.0
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KGRR11-205 1100 0 G1 27 31 4 2.4 23.8
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KGRR11-205 1100 0 G1 41 48 7 1.23 36.5
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KGRR11-209 1260 -150 G1 73 76 3 1.62 61.0
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KGRR11-211 1380 -245 G1 57 63 6 5.4 49.1
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KGRR11-212 860 -3 G1 40 50 10 1.46 45.0
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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 core intervals.
(3) All holes were drilled at an azimuth of 340 degrees.
Four of the sixteen holes (KGRR11-206, -207, -208 and -210) not included in the above table of significant intersections did contain 1 to 6 metre thick sections of anomalous gold at or above a cut-off grade of 0.5 g/t Au.
Drill hole lengths varied from 75 to 121 metres and all holes were drilled at inclinations of -55 to -60 degrees except hole KGRR11-212 which was drilled vertically due to local topography. A total of 1,566 metres was drilled in the 16 RC holes, which were continuously sampled at one metre intervals for assaying. A surface plan showing the drill hole locations is available at http://goldrushresources.ca/properties/ronguen/.
Ronguen Exploration Plan
A total of 98 RC holes totaling 7,791 metres and 18 core holes totaling 2,347 metres have been completed in the fall 2011drill program on the Ronguen gold deposit. A total of 1,325 metres of surface trenching in 13 trenches are currently underway. Samples from all remaining RC and core holes have been delivered to the assay lab and results will be announced when received. Following receipt of all assays, results will be interpreted and incorporated into a three dimensional model for preparation of the updated resource estimate.
Correction
In Goldrush news release #24, dated November 15, 2011, RC hole KGRR11-181 was listed as having an intersection of 1.53 g/t gold over 14 metres from 40 to 54 metres. This was incorrect and should have been presented as 1.86 g/t gold over 15 metres from 39 to 54 metres.
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 hangingwall 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 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.
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.
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
604-602-9973
604-681-5910 (FAX)
info@goldrushresources.ca
www.goldrushresources.ca
Goldrush Resources Ltd.
Patrick Piette
(416) 815-0700 Ext. 267
ppiette@equicomgroup.com
Goldrush Resources Ltd.
Joe Racanelli
(416) 815-0700 Ext. 243
jracanelli@equicomgroup.com
www.equicomgroup.com