North Zone extension drilling intersects up to 3.13 g/t gold over 7 m, and traces near surface mineralization at Ronguen Gold Deposit
21.01.2013 | The Newswire
Vancouver, British Columbia (January 21, 2013) - Goldrush Resources Ltd. (TSX-V: GOD) (Goldrush or the "Company") is pleased to report assay results from the latest drilling program at its flagship Ronguen Gold Deposit in Burkina Faso, West Africa. Highlights of the program include: - 3.13 g/t Au over 7 metres, in RC hole KGRR12-258
- 2.22 g/t Au over 3 metres and 2.02 g/t Au over 5 metres, in RC hole KGRR12-256
- 1.87 g/t Au over 4 metres, in RC hole KGRR12-259
Len Brownlie, President and CEO of Goldrush, noted: "The North Zone drill program has confirmed the presence of gold mineralization over a 620 metre strike extension of the North Zone that was not previously included in the July 2012 resource estimate update. The drilling demonstrates the continued prospectivity of the Ronguen deposit area."
"Over the coming months Goldrush will advance Ronguen through the completion of a Preliminary Economic Assessment which will identify the best choices for near term production and quantify the economics of the deposit at this stage. Goldrush also intends to continue the exploration of other targets in proximity to the Main Zone." Mr Brownlie added.
Key Technical Details
Eighteen reverse circulation ("RC") drill holes totalling 1,045 metres tested shallow oxide mineralization associated with a previously undrilled 620 metre western extension of the North Zone. The North Zone consists of mineralization which responds to induced polarization resistivity surveying, and is subparallel to the Main Zone of the Company's Ronguen Gold Deposit.
The Main and South Zones of the Ronguen deposit currently have delineated 332,000 measured and indicated ounces averaging 1.22 g Au/t, and 52,000 inferred ounces averaging 1.85 g Au/t1 over a strike length of 1,700 metres. The majority (309,000 ounces of gold) of the measured and indicated resources are in the oxide category, and amenable to lower cost heap leach processing.
To assist in the delineation of additional oxide resources, an induced polarization survey was completed over the Ronguen deposit, and interpreted with newly acquired software with the ability of three dimensional imaging. Analysis of the results provided excellent coincidence between the resource and high resistivity anomalism.
Two identified adjoining resistivity anomalies with subparallel strike directions provide promising targets, with the western extension of the North Zone anomaly investigated by 18 shallow RC drill holes over a strike length of approximately 620 metres.
Eight holes (from east to west: KGRR12-253, -256, -255, -254, -257, -258, -259 and 260) were drilled from Grid G1, line 880E, to Grid 2, line 590E, a distance of approximately 360 metres, to test the western extension of the resistivity anomaly axis that correlates with the North Zone mineralization to the east. Seven RC holes (from east to west : KGRR12-270, -261, -262, -263, -264, -265 and 269) tested a portion of the resistivity anomaly immediately to the southwest, from Grid G2, line 540E, to Grid G2, line 300E, a distance of about 260 metres. Three RC holes (from east to west : KGRR12-267, -266 and -268) tested the resistivity anomaly trending northwesterly from Grid G2, line 470E,to Grid G2, line 350E, a distance of 120 metres. Grid G1 is the eastern-most while Grid G2 is the western-most of the two overlapping grids at the Ronguen deposit.
A shallow test of the North Zone gold mineralization and associated resistivity anomalism was completed on each section. Nine holes intersected the metasediment-diorite contact which is an important rheologic control for the gold mineralization at Ronguen. Eight of the holes (KGRR12-254, -260, -261, -262, -266, -267, -268 and -270) which failed to intersect this contact did not contain gold values above a 0.4 g/t Au level, although only holes -260, -266, -268 and -270 were devoid of gold. Perterbations along the metasediment-diorite contact may have been responsible for it not having been intersected and tested by the short drill holes.
A surface plan showing the drill hole locations is available at http://goldrushresources.ca/properties/ronguen/.
Assay Results
Indicative composites of the better mineralization intersected from this portion of the North Zone are noted above and in the following table. Detailed drill hole location data is provided at the end of this release2.
-------------------------------------------------
|HOLE ID |From|To |Interval2|Gold |Vertical|
|-----------------------------------------------|
|? |(m) |(m)|(m) |Grade (g|Depth1 |
| | | | |Au/t) |(m) |
|-----------------------------------------------|
|KGRR12-253|7 |10 |3 |0.55 |7 |
|-----------------------------------------------|
|KGRR12-255|26 |26 |2 |1.53 |21.5 |
|-----------------------------------------------|
|KGRR12-256|12 |15 |3 |2.22 |11 |
|-----------------------------------------------|
|and |24 |29 |5 |2.02 |22 |
|-----------------------------------------------|
|KGRR12-257|31 |33 |2 |1.47 |26 |
|-----------------------------------------------|
|and |54 |55 |1 |1.48 |45 |
|-----------------------------------------------|
|KGRR12-258|28 |35 |7 |3.13 |25 |
|-----------------------------------------------|
|KGRR12-259|14 |18 |4 |1.87 |13 |
|-----------------------------------------------|
|KGRR12-263|14 |17 |3 |1.18 |13 |
|-----------------------------------------------|
|KGRR12-264|14 |15 |1 |1.09 |12 |
|-----------------------------------------------|
|KGRR12-265|34 |38 |4 |0.44 |29 |
|-----------------------------------------------|
|KGRR12-269|13 |14 |1 |1.03 |11 |
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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.
The RC drill hole lengths varied from 40 to 72 metres, and the holes were drilled at inclinations between -51 and 56 degrees. A total of 1,045 metres were drilled in the 18 RC holes which were continuously sampled for assaying at one metre intervals.
Ronguen Exploration Plan
Eighteen holes totalling 1,045 metres were completed in the fall 2012 drilling program on the Ronguen gold deposit. A total of 231 linear metres in two trenches on the South Zone and a 12 metre deep pit on the North Magnetic target have been completed as well. The samples from the excavations have been delivered to the assay laboratory and results are pending.
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.
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 RC 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"
Len Brownlie - President and Chief Executive Officer
Contact Information:
Goldrush Resources Ltd.
Len Brownlie, President and CEO
info@goldrushresources.ca
1-604-602-9973
Twitter: @goldrushres
LinkedIn: Goldrush Resources Ltd
Youtube: Goldrushres
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 has recently expanded the Ronguen gold deposit in Burkina Faso to a 332,000 ounce measured and indicated resource (8,487 million tonnes at a grade of 1.22 g/t Au) and an inferred resource of 52,000 ounce (890,000 tonnes at a grade of 1.85 g/t Au).
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.
Notes
1.Source: Goldrush News Release dated May 24, 2012. A mineral resource statement for the Ronguen gold deposit was prepared by SRK Consulting (Canada) Inc. For oxide gold resources, the resource contains 150,000 ounces of gold in the Measured category (4.143 million tonnes grading 1.12 grams of gold per tonne ("gpt Au"); 159,000 ounces of gold in the Indicated category (3.861 million tonnes grading 1.28 gpt Au); and 8,000 ounces in the Inferred category (136,000 tonnes grading 1.91 gpt Au) using a cut-off grade of 0.4 gpt gold. In addition, the bottom of the conceptual pit shell used to constrain the mineral resource statement for the Ronguen deposit is estimated to contain 23,000 ounces of gold in the Measured and Indicated categories in fresh rock (483,000 tonnes grading 1.51 gpt Au) and 44,000 ounces of gold in the Inferred category (754,000 tonnes grading 1.83 gpt Au), at a cut-off grade of 0.7 gpt Au.
2.Drill hole location data is as follows:
--------------------------------------------------------------------------
|HOLE ID |Line |Station|Z - |Length|Azimuth|Inclination|Zone |Grid|
| | | |WGS84| | | | | |
|------------------------------------------------------------------------|
|? |(Grid |(Grid |? |(m) |(WGS84)|(degrees) |? |? |
| |Co-ord)|Co-ord)| | | | | | |
| | | | |---------------------------------------|
| | | | |? |? |? |? |? |
|------------------------------------------------------------------------|
|KGRR12-253|880 |175 |324 |56 |340 |-54.89 |Ronguen|1 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-254|750 |240 |330 |72 |24 |-55.24 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-255|790 |255 |330 |64 |24 |-55.68 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-256|830 |270 |332 |60 |24 |-55.34 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-257|710 |223 |328 |64 |24 |-55.19 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-258|670 |200 |327 |66 |24 |-51.35 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-259|630 |200 |329 |54 |24 |-54.71 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-260|590 |195 |328 |60 |24 |-54.86 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-261|510 |144 |332 |60 |24 |-54.8 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-262|470 |120 |330 |60 |24 |-55.25 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-263|430 |90 |322 |60 |24 |-55.16 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-264|390 |81 |327 |60 |24 |-54.69 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-265|350 |60 |333 |60 |24 |-54.47 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-266|430 |215 |328 |55 |24 |-54.21 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-267|470 |225 |323 |40 |24 |-54.44 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-268|350 |235 |332 |48 |24 |-54.08 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-269|300 |50 |327 |58 |24 |-54.31 |Ronguen|2 |
| | | | | | | |N | |
|------------------------------------------------------------------------|
|KGRR12-270|540 |165 |325 |48 |24 |-54.53 |Ronguen|2 |
| | | | | | | |N | |
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