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La Fortuna Gold Project
Argentina- Drilling to Start
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January 11, 2010, -- Vancouver -- Golden Peaks Resources Ltd. (TSX:
GL) (the "Company") is pleased to report that drill crews are
mobilizing for the start of drilling on the La Fortuna Gold Project,
Argentina.
Drilling will focus on extending the T-11 and G deposits and exploring
for new zones of gold mineralization beneath, adjacent to and between
the two deposits. The T-11 and G deposits are approximately 700 meters
apart across strike, however, both deposits are hosted by the same
large gold mineralizing system which is estimated to measure
approximately 2 km�.
The gold mineralization in the T-11 and G deposits is shallow. The
deepest hole drilled to-date on the T-11 deposits tested the zone at
approximately 200 meters vertical depth. The mineralization in the
deposits is simple, gold with minor silver, and it contains no
deleterious metals.
The current drill program has the potential of adding significant gold
resources in this area.This area is particularly well mineralized and
the Company believes a significant gold resource can be delineated
here.
The drill contractor is Energold Drilling Corp., a publicly traded
Canadian company based in Vancouver, British Columbia. The drill
program will involve manually portable, low-environmental impact
drills. This is an environmentally and socially sensitive approach to
drilling and complements the development philosophy of the Company's
modern mining practices on the La Fortuna Gold project.
This press release has been reviewed and approved by Dr. Kieran Downes,
P.Geo., President of Golden Peaks Resources Ltd. and a Qualified Person
as defined by National Instrument 43-101, under whose direction the
exploration programs are being carried out.
Media Information, contact:
Scott Emerson, Chairman and Director
SE@goldenpeaks.com
Investor Information, contact:
Mike Kordysz, Investor Communications
MK@goldenpeaks.com
The statements herein that are not historical facts are forward-looking
statements. These statements address future events and conditions and
so involve inherent risks and uncertainties, as disclosed under the
heading "Risk Factors" in the company's periodic filings with Canadian
securities regulators. Actual results could differ from those currently
projected. The Company does not assume the obligation to update any
forward-looking statement.
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Copyright (c) 2010 GOLDEN PEAKS RESOURCES LTD. (TSX-V:GL) All rights
reserved. For more information visit our website at
http://www.goldenpeaks.com/ or send mailto:info@goldenpeaks.com
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