Goldrush drilling indicates 500 metre mineralized structure on Salbo permit with grades of up to 1.30 g/t gold over 6.45 metres
(via Thenewswire.ca)
(Vancouver, B.C.) Goldrush Resources Ltd. (TSX-V: GOD) ("Goldrush" or the "Company") is pleased to announce that assay results have been received for six diamond drill holes totaling 618.5 metres on the Company's Salbo permit which is located 50 kilometers north of Ouagadougou, the capital of Burkina Faso, West Africa. The permit is situated immediately south of the High River Gold Mines Ltd. Bissa Gold Mine project area land holding, where the mine is currently under construction, and approximately 35 kilometers south of Goldrush's Ronguen gold deposit (332,000 ounce measured and indicated gold resource (8,847 million tonnes at a grade of 1.22 g/t Au) and inferred resource of 52,000 ounces (890,000 tonnes at a grade of 1.85 g/t Au). The drilling area at Salbo is located 6.5 kilometres from the main paved highway north from Ouagadougou, and accessed by good by secondary roads.
Highlights of the drilling include:
-5.98 g/t Au over 1.60 metres in hole SLBC11-001
-1.30 g/t Au over 6.45 metres, including 4.65 g/t Au over 0.65 metres in hole SLBC11-002
-1.54 g/t Au over 2.40 metres in hole SLBC11-003
-2.32 g/t Au over 1.50 metres in hole SLBC11-004
-2.00 g/t Au over 1.10 metres in hole SLBC11-005
The six core holes followed up on encouraging mineralization previously intersected in rotary air blast ("RAB ") drilling on three northeast-southwest anomalous gold trends located in the central western part of the permit [see Goldrush news release dated March 23, 2011 for full description]. All significant (>0.5 g/t Au) RAB intersections of four metres or greater width were tested with core holes. Trends 2 and 3 were tested with core holes SLBC11-001 and SLBC11-006, respectively. The central trend (Trend 1) was investigated by four core holes (SLBC11-002 to -005).
Len Brownlie Ph.D, President and CEO of Goldrush commented: "The Salbo core drilling results are significant as they confirm the presence of gold mineralization in an environment with significant strike potential. The current drilling on Trend 1 has traced gold mineralization over a distance of approximately 490 metres, and including rock sampling, over a potential strike extension of two kilometres. Between the northeastern most core hole SLBC11-005 and the next outcrop rock sample that assayed 6.55 g/t Au lies a sediment covered plain that may mask a five kilometre trend strike extension. Apparent chargeability readings from a gradient array induced polarization survey over Trend 1 indicate a chargeability peak related to the known mineralization, consistent with the presence of sulphide (pyrite) mineralization. Further drilling will be required to test the northeast and southwest extensions of this mineralized structure, along with the 300 metre gap between core holes -003 and -004".
Trend 1
Hole SLBC11-002 which was drilled to follow-up the intersection in RAB hole SLBB11-030 (2.12 g/t Au over 6 metres) intersected 1.30 g/t Au over 6.45 metres from 77.6 - 84.05 metres. Hole SLBC11-003 which was drilled to follow-up the intersections in RAB hole SLBB11-023 (1.74 g/t Au over 8 metres) intersected 1.54 g/t Au over 2.4 metres from 81.5 - 83.9 metres. These two core holes are separated by a distance of 66.6 metres. Gold mineralization is associated with decimetric quartz veins hosted in a lineated granodiorite with approximately 1% pyrite observed in the quartz and in the silicified vein selvages.
The distance between hole 3 and hole 4 is about 300 metres with no intervening drilling. Hole SBC11-004 which was drilled to follow-up the intersection in RAB hole SLBB11-043 (1.26 g/t Au over 4 metres) intersected 1.60 g/t Au over 1.0 metre from 53.0 - 54.0 metres and 2.32 g/t Au over 1.5 metres from 59.85 - 61.35 metres. Hole SLBC11-005 which was drilled to follow-up the intersections in RAB hole SLBB11-048 (2.56 g/t Au over 4 metres) intersected 2.00 g/t Au over 1.1 metres from 67.4 - 68.5 metres. These two drill holes are 123 metres apart. Gold mineralization in hole -004 is similar to that in holes -002 and -003, however the pyrite content in the vein and silicified vein selvages is slightly higher at 3%. For hole -005, no quartz veining was present, but the zone is recognizable due to the presence of silicification and up to 3% pyrite.
Trend 2
On trend 2, hole SLBC11-001 which was drilled to follow-up the intersections in RAB holes SLBB11-001 (2.64 g/t Au over 3 metres, open at the end of the hole) and SLBB11-002 (0.71 g/t Au over 10 metres) intersected 5.98 g/t Au over 1.6 metres from 69.0 - 70.6 metres and 1.77 g/t Au over 0.25 metres from 79.75 - 80.0 metres. Mineralization is associated with decimetric quartz veining hosted in a thin mafic dyke within a large area of megacrystic granite. There is very minor shearing and negligible pyrite on the vein selvage.
Trend 3
Hole SBC11-006 was drilled to follow up the intersection in RAB hole SLBB11-055 (1.81 g/t Au over 6 metres) and although it intersected minor quartz veining and extensive bleaching in a granodiorite host rock, assays were only anomalous.
Geological Setting for Gold Mineralization at Salbo
At Salbo, gold mineralization at surface is hosted in massive quartz veins up to one metre thick. The main alteration minerals associated with the mineralization are sericite, chlorite and limonite, and pyrite was the main sulphide observed near surface in the quartz veining.
Comparison of the significant RAB and core hole intersections with gradient array induced polarization ("IP") chargeability and resistivity surveying results show that gold mineralized holes are clearly associated with strong chargeable and resistive anomalies that extend to the limits of the three, one square kilometre areas surveyed by IP over each trend.
Future exploration is planned to test the IP anomalism which indicates the potential for extending the gold-bearing mineralization on strike, and to focus on the strong targets identified at deeper levels, using both reverse circulation ("RC") and core drilling.
Assay Results
Significant assay results from the core drilling program are noted above and in the following table:
---------------------------------------------------------------------------------
|Target|Hole ID |WGS 84 |WGS 84 |WGS 84 |From |To |Length*|Gold |
| | |Co-ordinate|Co-ordinate|Co-ordinate| | | |Grade|
|-------------------------------------------------------------------------------|
|? |? |UTM X |UTM Y |UTM Z |(m) |(m) |(m) |(g |
| | |(m)* |(m)* |(m) | | | |Au/t |
| | |? |? | | | | |) |
|-------------------------------------------------------------------------------|
|Trend |SLBC11-002|662989 |1431521 |326 |77.60|84.05|6.45 |1.30 |
|1 | | | | | | | | |
|-------------------------------------------------------------------------------|
|? |including |? |? |? |79.00|79.65|0.65 |4.65 |
|-------------------------------------------------------------------------------|
|? |SLBC11-003|663025 |1431577 |326 |81.50|83.90|2.40 |1.54 |
|-------------------------------------------------------------------------------|
|? |SLBC11-004|663244 |1431778 |324 |53.00|54.00|1.00 |1.06 |
|-------------------------------------------------------------------------------|
|? |and |? |? |? |59.85|61.35|1.50 |2.32 |
|-------------------------------------------------------------------------------|
|? |SLBC11-005|663316 |1431878 |312 |67.40|68.50|1.10 |2.00 |
|-------------------------------------------------------------------------------|
|Trend |SLBC11-001|661000 |1431795 |327 |69.00|70.60|1.60 |5.98 |
|2 | | | | | | | | |
|-------------------------------------------------------------------------------|
|? |and |? |? |? |7975 |80.00|0.25 |1.77 |
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*Lengths shown are core lengths: for hole -001 true width is estimated at 75% of core length; for holes -002 and -003 true width is estimated at 70% of core length and for holes -004 and -005 true width is estimated at 82% of core length
Drill hole lengths varied from 100 to 110 metres, with inclinations of -50 degrees and azimuths of N135o (holes SLBC11-001 to 003) or N315? (holes SLBC11-004 to -006). A total of 184 core samples and 20 QA/QC samples were submitted for assaying.
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 for approximately each 25 samples submitted. For its certified standard and blank samples included in the QA-QC procedure, Goldrush averaged 10.9% 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"
Len Brownlie - President and Chief Executive Officer
Contact Information:
Don Willoughby, VP Corporate Development: info@goldrushresources.ca
Telephone: 1 - 416-306-5790
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 332,000 ounce measured and indicated resource (8,847 million tonnes at a grade of 1.22 g/t Au) and inferred resource of 52,000 ounce (890,000 tonnes at a grade of 1.85 g/t Au) of the 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. 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.
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