Re: News Release - Friday, March 05, 2010
Golden Peaks Expands Gold Zones at La Fortuna
March 5, 2010, - Vancouver - Golden Peaks Resources Ltd. (TSX: GL) (the
"Company") is pleased to report on the diamond drilling program
currently underway on its 100% owned La Fortuna Gold project located in
Chubut , Argentina.
Four holes have been drilled on the T-11 zone. Mineralization comprises
pyrite replacement bodies, disseminated and vein controlled pyrite +/-
chalcopyrite, and quartz-carbonate veining with pyrite-chalcopyrite
similar to that previously intersected in holes LF-13, LF-98 and LF-105
(News Release of January 25, 2010). The deepest hole (167.73 meters)
intersected three mineralized zones indicating the mineralization
continues from surface and remains open to depth.
The northwest extension of the G zone is being drill tested over a
distance of 250 meters To-date, two holes have been drilled. The holes,
which are 100 meters apart, intersected disseminated and vein
controlled pyrite similar to that previously intersected in the G zone.
The G zone is now estimated to be over 900 meters long.
Drilling is continuing. Assays will be announced once received and
Chairman Scott Emerson said "The current program has been very
successful; all targets have been intersected and the T-11 and G zones
continue to be extended."
The diamond drill contractor is Energold Drilling Corp. A lightweight,
portable drill is being used to minimize environmental impact. All
samples are being assayed by Alex Stewart (Assayers) Argentina S.A.
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
Investor Information, contact:
Mike Kordysz, Investor Communications
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
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reserved. For more information visit our website at
http://www.goldenpeaks.com/ or send mailto:email@example.com