Gold Reach Resources Ltd

Published : July 17th, 2014

Gold Reach stakes the White Gold Prospect and provides exploration update for Ootsa

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Keywords :   Copper | Diamond | Gold | Lead | Silver | Zinc |

Gold Reach stakes the White Gold Prospect and provides exploration update for Ootsa

VANCOUVER, July 17, 2014 /PRNewswire/ - Gold Reach Resources Ltd. (GRV:TSX-V) (Gold Reach and/or the Company) is pleased to announce that 76.4 hectares covering the historic White Gold Prospect on the eastern side of the large Ootsa claim block has been acquired by staking. 

The White Gold Prospect occurs within and adjacent to several logging roads which provide easy access to the area and locally expose altered rocks within road cuts.  The prospect was intermittently explored from 1983 to 1994 (prior to logging road access) with historic exploration work consisting of soil and rock sampling, mapping, prospecting and 13 short Diamond drill holes.  Historic work has defined a zone 350 metres by 130 metres containing alteration and quartz veining that remains open for expansion.  Historic drilling, as described in a 1984 assessment report by Canamax Resources Inc., intersected numerous mineralized quartz veins with the best interval returning 3.1 g/t gold over 3.9 metres.  The best historic surface sample was from a quartz and chalcedony vein which graded 7.8 g/t gold.  These historic results have not been verified by Gold Reach and the results should not be relied upon. Gold Reach has obtained surface grab samples from quartz vein and breccia outcrops located adjacent to the newly acquired White Gold claim which have returned 1.63 and 2.02 g/t gold (previously released see February 24, 2014 news release), and field crews are currently conducting surface exploration at the zone.  During 2014 Gold Reach will conduct surface mapping, rock channel sampling, and soil sampling to better understand and characterize the mineralization, and determine if drill targets can be identified.

In addition to the White Gold claim 1914.1 hectares of open ground on the northeast side of the Ootsa property has been staked.  The total size of the Ootsa claims block is now 70,676 hectares.

A map showing the location of the White Gold Prospect and the recently staked claims is available here:  http://www.goldreachresources.com/_resources/maps/Ootsa-claim-map-July-2014.jpg.

2014 Exploration Program UpdateThe 2014 Ootsa exploration program is underway and three holes have now been completed into the West Seel deposit (holes S14-200, 201, and 202).  Hole S14-200 was targeted to fill in and extend a zone of known higher grade mineralization at depth located within the central part of the West Seel deposit and was drilled to a depth of 594 metres.  Hole S14-201 tested a geophysical target on the northwest edge of the deposit near the contact between the main intrusive body and the sedimentary wall rocks to the intrusion.  This hole was drilled to a depth of 951 metres and is intended to extend the known mineralized zone several hundred metres to the north.  Hole S14-202 tested a geophysical target to the southeast of the West Seel deposit, on the southeast side of section 6NE, and was drilled to a total depth of 738 metres.

The drill is currently working on hole S14-203, which is located roughly 100 metres north of hole S14-201, and aims to continue expanding mineralization to the north.  Samples from holes S14-200 and S14-201 have been sent to the lab and assay results are pending.

Field crews continue to work on drill access, rock and soil sampling, and geophysical line cutting.  To date over 500 new soil samples have been collected during the 2014 season and soil grids have been completed over the North Damascus, East Damascus, Blackjack, and White Gold areas.  The locations of the Damascus area soil grids along with lead in soil results for the North and East Damascus grids are available at the following link: http://www.goldreachresources.com/_resources/maps/Damascus-area-soil-grids.jpg.  Results from the Blackjack and White Gold soil grids are still pending.

The North Damascus soil grid defines a narrow north-south trending linear lead in soil anomaly that is 380 metres long and could be the northern extension of the Damascus Vein zone defined in historic drilling.  The East Damascus soil grid defines a strong lead in soil anomaly that is 500 metres long by 100 metres wide.  Both of these soil anomalies are elongate in a north south direction, parallel to the main vein trend in the area, and both are compelling drill targets for high grade silver-zinc-lead veins.

Corporate AnnouncementsThe Company announces that further to its news release of June 2, 2014 and June 9, 2014, the Company will not be proceeding with the second and final tranche of the non-brokered private placement.

On another matter, the Company announces that further to its stock option plan, it is granting options to buy an aggregate of 108,000 shares to various directors and consultants to the Company.  The options are exercisable at $0.75 per share for a term of five years from the date of grant.

About Gold Reach ResourcesThe Ootsa property is an advanced stage exploration project containing the East Seel, West Seel and Ox porphyry systems all with NI 43-101 compliant resources.  The Company has completed 134,878 metres of core drilling on the property to date, with 36,135 metres completed during 2013.   In total the Ootsa property contains compliant pit constrained resources totaling 1.25 billion pounds copper equivalent in the measured and indicated categories (consisting of 0.7 billion lbs. of Cu, 0.65 million ounces of Au, 66 million lbs. of Mo, and 11.4 million ounces of Ag) and 1.66 billion pounds copper equivalent in the inferred category (consisting of 0.9 billion lbs. of Cu, 0.8 million ounces of Au, 104 million lbs. of Mo, and 16 million ounces of Ag), using a 0.2% copper equivalent cut off.

For more information on the Ootsa property, the contained resources, and our 2014 exploration targets, please see our website at http://goldreachresources.com.   

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

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.

Safe Harbour 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.

Read the rest of the article at finance.yahoo.com

Gold Reach Resources Ltd

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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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Annual reports of Gold Reach Resources Ltd
2008 Annual report
Financings of Gold Reach Resources Ltd
7/20/2016Announces Completion Of $700,000 Non Brokered Private Placem...
7/13/2016Increases Non-Brokered Private Placement
7/6/2016Announces Up To $600,000 Non-Brokered Private Placement
6/2/2014Announces $1,044,280 Financing
6/24/2013Announces $2,000,000 Non Brokered Private Placement
6/4/2008Announces Non-Brokered Flow-Through Private Placement
Nominations of Gold Reach Resources Ltd
7/6/2011Dr. Shane Ebert Appointed as Vice-President of Exploration
Project news of Gold Reach Resources Ltd
9/9/2014Drilling extends West Seel Deposit over 400 metres down dip ...
7/17/2014Gold Reach stakes the White Gold Prospect and provides explo...
2/24/2014Gold Reach Provides a Summary of Results From 2013 Ootsa Exp...
2/24/2014(Seel)Provides A Summary Of Results From 2013 Ootsa Exploration Se...
1/27/2014Gold Reach Announces Final Results from 2013 Drilling Includ...
1/27/2014(Seel)Announces Final Results From 2013 Drilling Including 177.4 M...
1/20/2014Gold Reach Intersects 179.5 Metres of 0.80% Copper Equivalen...
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1/13/2014Announces First Open Pit Constrained Resource Estimate For O...
1/8/2014Gold Reach Announces Positive Metallurgical Results from the...
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10/28/2013Gold Reach Intersects 238 Metres of 0.73% Copper Equivalent ...
10/28/2013(Seel)Intersects 238 Metres Of 0.73% Copper Equivalent Including 1...
10/21/2013(Seel)Intersects 20 Metres Of 1.26% Copper Equivalent Within A Lar...
10/15/2013Gold Reach Intersects 44.3 Metres of 1.76% Copper Equivalent...
10/15/2013(Seel)Intersects 44.3 Metres Of 1.76% Copper Equivalent Within A L...
10/9/2013Receives Final Assays For Ox And Summarizes The 2013 Ox Dril...
9/23/2013Continues To Intersect High Grade At Ox With 103.3 Metres Of...
9/12/2013Adds A Second Drill To The Ootsa Project Receives Letter Of ...
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7/18/2013Intersect 359.4 Metres Of 0.41% Copper Equivalent Including...
7/16/2013Hits More High Grade At Ox Hole Ox13-63 Intersects 52.8 Metr...
7/10/2013Continues to Intersect Strong Mineralization at Ox Including...
7/8/2013Gold Reach Continues to Intersect Strong Mineralization at O...
7/8/2013Continues to Intersect Strong Mineralization at Ox Including...
6/27/2013Gold Reach Continues to Intersect High Grade Near Surface Mi...
6/27/2013Continues To Intersect High Grade Near Surface Mineralizatio...
6/12/2013Within Huckleberry's Reach: Gold Reach's Ootsa Project Prese...
6/10/2013Intersects High Grade Near Surface Mineralization at Ox Incl...
6/10/2013Gold Reach Intersects High Grade Near Surface Mineralization...
5/27/2013Announces Drilling Has Started At The Ootsa Property
5/1/2013Identifies New Expansion Potential At The Ox Deposit And Pro...
4/10/2013Mid-Day Breaking News From Gold Reach and Tajiri Resources
2/12/2013Gold Reach (GRV) Announces A 227% Increase In Resources At O...
2/11/2013Gold Reach (GRV) Announces a 227% Increase in Resources at O...
1/29/2013Gold Reach (GRV) Announces a 141% Increase in Indicated and ...
1/29/2013Gold Reach (GRV) Announces A 141% Increase In Indicated And ...
1/10/2013Gold Reach Expands the West Seel Deposit to Over 800 Metres ...
11/12/2012Gold Reach Intersects High Grade Silver Vein at Ox Returning...
11/5/2012Mid-Day Breaking News From Prophecy Platinum, Gold Reach, an...
8/16/2012Mid-Day Breaking News From Eagle Hill, Gold Reach, Anatolia,...
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Corporate news of Gold Reach Resources Ltd
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1/28/2016IIROC Trading Resumption - GRV
1/28/2016Gold Reach Resources Ltd. announces delay in news release
1/27/2016IIROC Trading Halt - GRV
9/30/2015Gold Reach Resources Commences Preliminary Economic Assessme...
1/5/2015Gold Reach Provides 2014 Exploration Summary and Announces F...
11/24/2014Gold Reach acquires another high grade gold silver prospect ...
10/14/2014Gold Reach Intersects 668 Metres Grading 0.56% Copper Equiva...
9/30/2014Gold Reach intersects high grade at West Seel with 160 metre...
9/2/2014Gold Reach intersects 73 metres of 0.96% copper equivalent w...
8/27/2014Gold Reach Resources to broadcast Annual General and Special...
7/30/2014Gold Reach Receives $1.85 Million Refundable Tax Credit
7/25/2014Gold Reach adopts new Shareholder Rights Plan
2/18/2014Gold Reach Announces an 87% Increase in Global M&I Resources...
2/18/2014(Seel)Announces An 87% Increase In Global M&I Resources At The See...
1/6/2014Gold Reach Drills 186.2 Metres of 0.78% Copper Equivalent In...
1/6/2014(Seel)Drills 186.2 Metres Of 0.78% Copper Equivalent Including 82....
12/19/2013Mid=2DDay Breaking News from Gold Reach=2C Eagle Hill=2C Alp...
12/19/2013(Seel)Drills 118 Metres of 0.65% Copper Equivalent at East Seel an...
12/17/2013Enters Into Communications & Engagement Agreement With The O...
12/3/2013Seabridge Gold Reaches Agreement to Sell Grassy Mountain NPI...
11/4/2013Gold Reach Drills 92.4 Metres of 0.76% Copper Equivalent at ...
11/4/2013(Seel)Drills 92.4 Metres Of 0.76% Copper Equivalent At East Seel A...
10/17/2013Reports Geophysical Survey Results For The Ootsa Project Dri...
10/7/2013Intersects 274.9 Metres Of 0.48% Copper Equivalent And 31.3...
9/30/2013Intersects 115 Metres Of 0.56% Copper Equivalent Including 1...
9/17/2013Intersects 89 Metres Of 0.50% Copper Equivalent Including 56...
9/10/2013Intersects 101.2 Metres Of 0.53% Copper Equivalent Including...
9/5/2013Intersects 124.4 Metres Of 0.56% Copper Equivalent Within 2...
8/13/2013Intersects 227.7 Metres Of 0.52% Copper Equivalent Includin...
8/7/2013IAMGOLD reaches agreement with Republic of Suriname to suppo...
8/7/2013Hole Ox13-77 Intersects 148.2 Metres Grading 0.55% Copper Eq...
7/23/2013Intersects 260.2 Metres of 0.46% Copper Equivalent and 21.6 ...
6/24/2013Mid-Day Breaking News From Alpha Minerals and Gold Reach
6/10/2013Extends Warrants
5/27/2013Mid-Day Breaking News From Skyharbour, Gold Reach, and Black...
5/1/2013Mid-Day Breaking News From Focus Ventures and Gold Reach
2/19/2013Mid-Day Breaking News From Gold Reach, Northern Vertex, Inte...
1/24/2013Gold Reach Signs Letter of Understanding with Cheslatta Carr...
1/24/2013Gold Reach Signs Letter Of Understanding With Cheslatta Carr...
1/16/2013Mid-Day Breaking News From Gold Reach, El Nino, Focus, Sunse...
1/16/2013Gold Reach Further Expands The West Seel Deposit Initiates R...
10/15/2012Mid-Day Breaking News From Balmoral, Prophecy Platinum, Gold...
10/9/2012Mid-Day Breaking News From Gold Reach and TomaGold
9/26/2012Mid-Day Breaking News From Gold Reach, Northern Vertex, and ...
9/17/2012Mid-Day Breaking News From Gold Reach and Great Atlantic
9/4/2012Mid-Day Breaking News From Gold Reach, TomaGold, and Canada ...
3/22/2012(Auro)Sells Auro And Auro South For $6 Million Cash And Retains A ...
12/5/2011Gold Reach Announces Significant New Cu-Au Discovery Interse...
9/12/2011Cresval is Drilling and Gold Reach Hits Long Intercept
3/1/2011(Auro)Identifies Multiple Drill Targets on Auro Property
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