Gold Reach Resources Ltd

Published : July 10th, 2012

Gold Reach Intersects 817 Metres Grading 0.45% Copper Equivalent, Including 194 Metres Grading 0.71%

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Keywords :   Copper | Diamond | Georgia | Gold | Molybdenum | Recovery | Silver |

 

Breaking News Release


Gold Reach Intersects 817 Metres Grading 0.45% Copper Equivalent,
Including 194 Metres Grading 0.71% Copper Equivalent


July 10, 2012: Vancouver, British Columbia: Gold Reach Resources Ltd. (GRV: TSX-V) (Gold Reach and/or the Company) is pleased to announce that assay results for the first 2 holes of the 2012 drill program at the company�s 100% owned Ootsa Property located adjacent to the producing Huckleberry Mine in British Columbia, have been received.  Both holes tested the new West Seel discovery made at the end of the 2011 exploration season.. 

Hole S12-101 was a 100 metre step out from hole S11-100 and was drilled toward the southwest at an angle of 65 degrees to a total depth of 1079 metres.  The hole intersected 817 metres grading 0.20% Cu, 0.21 grams per tonne (g/t) Au, 0.026% Mo, and 2.24 g/t Ag  (0.45% Cu Eq.) from 262 metres to the end of the hole at 1079 meters.  The hole encountered 194 metres of higher grade mineralization grading 0.22% Cu, 0.47 g/t Au, 0.040% Mo, and 1.85 g.t Ag (0.71% Cu Eq.) from 584 to 778 metres depth.

Hole S12-102 was a 100 metre step out from hole S11-98 and was drilled toward the southwest at an angle of 60 degrees to a total depth of 951 metres. The hole intersected 649.9 metres grading 0.17% Cu, 0.09 g/t Au, 0.013% Mo, and 3.1 g/t Au (0.31% Cu Eq.) starting from surface.  The hole encountered 152 metres of higher grade mineralization grading 0.27% Cu, 0.13 g/t Au, 0.026% Mo, and 4.2 g/t Ag (0.51% Cu Eq.) from 353 to 505 metres depth.

Summary of select drill intercepts�West Seel Deposit

Drill Hole   

From (m)

To (m)

Width (m)*

Cu %

Au g/t

Mo%

Ag g/t

Cu Eq.%**

S12-101

262.0

1079.0

817.0m***

0.20

0.21

0.026

2.24

0.45

including

308.0

829.8

521.8***

0.23

0.30

0.032

2.63

0.57

including

584.0

778.0

194.0***

0.22

0.47

0.040

1.85

0.71

S12-102

6.10

653.0

649.9

0.17

0.09

0.013

3.1

0.31

including

353.0

505.0

152.0

0.27

0.13

0.026

4.2

0.51

*Width


 

*refers to drill hole intercepts, true widths have not been determined.  

**Cu Eq. (copper equivalent) has been used to express the combined value of gold, copper, silver, and molybdenum as a percentage of copper, and is provided for illustrative purposes only.  No allowances have been made for recovery losses that may occur should mining eventually result.  Calculations use metal prices of US $2.50/lb copper, $1200/oz gold, $15/oz silver, and $10/lb molybdenum using the formula CuEq.% = Cu% + (Au g/t x 0.701) + (Mo% x 4.01) + (Ag g/t x 0.0087).

*** Excludes 21.2 metres of post mineral dike

 

Dr. Shane Ebert, President of the company stated, �The Company is extremely pleased with the results of the first 2 step out holes at West Seel which confirm grade and continuity of the West Seel deposit and demonstrate every large size potential.  Mineralization was encountered at 210 metres vertically below surface in hole S12-101 and is continuous to 1025 metres vertically below surface, and remains open at depth. In holeS12-102 mineralization starts at surface below just 6 metres of gravel cover, and extends to a vertical depth of 575 metres below surface.  We are seeing the strongly potassic altered intrusive unit pinch out to the southwest and increase in size to the northeast, suggesting the core of the mineralized system lies toward the northeast.  To date the West Seel mineralized zone has been defined over a length of 500 metres in a northeast orientation and still remains open to the northeast and southwest.   The width of the zone is being delineating along northwest oriented drill sections.  Three drill rigs are active on the West Seel discovery stepping out in multiple directions and the ultimate size potential of the deposit appears to be growing with every new drill hole.�

 Drilling Update

There are currently three drills operating on the Ootsa Property..  Holes S12-101 to S12-105 have been completed and the drills are currently working on holes S12-106, 107 and 108.  A total of 7300 metres of drilling have been completed during the 2012 program to date.   A drill hole location map and a cross section showing holes S12-101 and 102 can be found in the Map Gallery on Gold Reach�s website (www.goldreachresources.com).

 The next set of assay results are expected within3 weeks.

 About Gold Reach Resource

Gold Reach Resources Ltd. is a Canadian exploration company with an experienced board and management team that is actively involved in mineral exploration in British Columbia.   The company holds a 100% interest in the Ootsa Property, located adjacent to the producing Huckleberry Mine, and containing the Seel and Ox porphyry systems.  The Seel porphyry contains a NI43-101 compliant resource containing 214.78 million tonnes grading 0.17% Cu, 0.13 g/t Au, 0.017% Mo, and 2.17 g/t Ag (0.33% Cu Eq) in the inferred category plus an additional 28.13 million tonnes grading 0.22% Cu and 0.21 g/t Au (0.40% Cu Eq) in the indicated category. The Ox porphyry, located 4 km northwest of Seel, contains a NI43-101 compliant resource containing 16 million tonnes grading 0.3% Cu and 0.04% Mo in the inferred category. 

The company is well financed with over $6.8 million dollars in the treasury and holds a 2% NSR covering 23,000 hectares of mining claims located adjacent to the Blackwater Gold deposit in central British Columbia.  Additional information is available on our website at www.goldreachresources.com.

Quality Control

All drill core is logged, photographed, and cut in half with a Diamond saw.  Half of the core is bagged and sent to SGS Mineral Services for analysis (which is an ISO 9001 and ISO/IEC 17025 certified lab), while the other half is archived and stored on site for verification and reference purposes.  Gold is assayed by standard fire assay methods with 34 additional elements analyzed by Induced Coupled Plasma (ICP) utilizing a 4-acid digestion.  Duplicate samples, blanks, and certified standards are included with every sample batch and then checked to ensure proper quality assurance and quality control.  

Dr. Shane Ebert P.Geo., President of the Company,is the Qualified Person for the Ootsa project as defined by National Instrument 43-101 and has approved the technical disclosure contained in this news release.

�Shane Ebert�

Shane Ebert, President/Director

For Further information, please contact:

Telephone: 604-718-5454

S. Ebert direct line: 250 964-2699

Toll Free: 888-500-4587
 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SafeHarbour Statement: The Company relies upon litigation protection for �forward-looking statements.� The Company undertakes no obligation to update these forward- looking statements in the managements beliefs, estimates obligations or other factors should change.
 



Gold Reach Resources Inc.

PO Box 10351
888 - 700 West Georgia Street
Vancouver, BC V7Y 1G5

Phone: 604-718-5454
Fax: 604-646-2054
Toll Free: 1-888-500-4587
info@goldreachresources.com



as of 12:30am EST July 3, 2012
 

Recent Press Releases
Gold Reach Resources:

June 27, 2012

Gold Reach Resources Ltd. Announces Completion Of Non-Brokered Private Placement And The Grant Of Stock Options

June 27, 2012, Vancouver, British Columbia � Gold Reach Resources Ltd. (the �Company�) (TSX-V:GRV) is pleased to announce that it has closed the non-brokered private placement of 1,100,000 units (each a �Unit�) at a purchase price of $1..10 per Unit.

June 26, 2012

Gold Reach Resources Appoints Mr. Aelicks To Advisory Board

Vancouver, British Columbia June 26, 2012 � Gold Reach Resources Ltd. (TSX-V: GRV) (�Gold Reach� and/or the �Company�) Gold Reach is pleased to announce that Brad Aelicks, P. Geo. has joined the advisory board.

June 26, 2012

Gold Reach Adds Another Drill At The Ootsa Project And Expands The Drilling Program

June 26, 2012:Vancouver,British Columbia: Gold Reach Resources Ltd. (GRV: TSX-V) (�Gold Reach� and/or the (�Company�) is pleased to announce that a third drill rig is being added to the drilling program currently underway at the company�s 100% owned Ootsa Property located adjacent to�

June 18, 2012

Gold Reach Resources Ltd.. Announces $1,210,000 Non-brokered Private Placement

June 18, 2012: Vancouver, British Columbia: Gold Reach Resources Ltd. (the �Company�) (GRV: TSXV) announces a non-brokered private placement unit offering of 1,100,000 units to raise gross proceeds of $1,210,000.

June 12, 2012

Gold Reach Drills Hole To 1079 Metres Depth At The 2011 West Seel Discovery, Ootsa Project

June 12, 2012:Vancouver, BritishColumbia: Gold Reach Resources Ltd. (GRV: TSX-V) (Gold Reach and/or the Company) is pleased to announce that drilling is underway at the company�s 100% owned Ootsa Property located adjacent to the producing Huckleberry Mine in British Columbia, and the first 2 holes of the planned 20,000 metre 2012 program have been completed�

May 28, 2012

Gold Reach Resources Ltd. Announces Completion of Non-Brokered Private Placement

May 28, 2012, Vancouver, British Columbia � Gold Reach Resources Ltd. (the �Company�) (TSXV:GRV) is pleased to announce that it has closed the non-brokered flow through private placement of 300,000 flow through units (each a � FT Unit�) at a purchase price of $0.60 per FT Unit.

May 14, 2012

Gold Reach Announces $150,000 Non-Brokered Flow-Through Private Placement

May 14, 2012: Vancouver, British Columbia: Gold Reach Resources Ltd. (the �Company�) (GRV: TSXV) announces it has arranged a non-brokered flow-through private placement units offering (�FT Units�) of up to 250,000 FT Units, raising gross proceeds of $150,000.

 

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Gold Reach Resources Ltd

EXPLORATION STAGE
CODE : GRV.V
ISIN : CA3806863039
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Gold Reach Res. Ltd is a gold exploration company based in Canada.

Gold Reach Res. Ltd holds various exploration projects in Canada.

Its main exploration properties are AURO, OX LAKE and SEEL in Canada.

Gold Reach Res. Ltd is listed in Canada. Its market capitalisation is CA$ 12.0 millions as of today (US$ 9.5 millions, € 7.7 millions).

Its stock quote reached its lowest recent point on December 19, 2008 at CA$ 0.02, and its highest recent level on June 22, 2012 at CA$ 2.13.

Gold Reach Res. Ltd has 46 980 000 shares outstanding.

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