FOR IMMEDIATE RELEASE
UNDERGROUND DEVELOPMENT HEADS FOR ORE AT THE GOLDEN ROSE
SHAFT.
sTOPING IS EXPECTED TO BEGIN WITHIN A MONTH.
March 12, 2008 - Vancouver,
British Columbia
Goldrea Resources Corp.
(TSX.V-GOR; Frankfurt-GOJ, Pinksheets-GORAF) reports that the Mining contractor
has begun the underground development at the Golden Rose Shaft. Crosscutting commenced last week to access
the ore discovered in Hole GZK810 and stoping should
begin on this ore shoot within the month.
The ore will be stockpiled on surface until 20,000 tonnes
are available at which time the Daye Mill will be
directed to begin milling this ore. This
move will mark the first production by Goldrea
Resources Corp. in China.
Drilling
continues with two drill machines working full time on the Daye
Property. Two more machines, which are
assigned to the project, are down for maintenance and will be brought on site
as soon as this work is complete.
Some
minor construction is continuing at Golden Rose and is expected to be complete
within a month. When this work is
complete the shaft crew can begin the work at the Golden Dragon Shaft. The recommended location is at 4106900N,
40612000E. This location is subject to
change depending on land acquisition agreements with the local farmers for room
to put the surface buildings and access roads.
Our negotiating team is presently working on acquiring these land
agreements. This shaft will provide
access to the Jingkou Zone mineralization at a depth
of �290 meters.
Detailed
drilling is required before a mining permit and mining leases are issued. This does not preclude shaft sinking for
exploration purposes to provide access for both exploration drifting and
underground drilling.
The
use of rubber tired equipment and a decline is being investigated to work the
shallower mineralization on the Jingkou and Tianjia Zones. If
the ground will support a decline this mineralization becomes easily accessible
without the need for a hoisting shaft.
Geotechnical reports are not yet available but are expected soon.
Recent
Drilling results on the Daye property include:
|
|
RECENT
INTERSECTIONS
|
|
|
|
PREVIOUSLY UNREPORTED
|
|
|
Hole No.
|
From
|
To
|
Interval
|
Grade
|
|
|
|
|
|
|
|
GZK860
|
427.620
|
429.59
|
1.97
|
0.92
|
|
|
|
|
|
|
|
GZK863
|
304.41
|
305.46
|
1.05
|
1.03
|
|
|
|
|
|
|
|
GZK601
|
267.49
|
268.29
|
0.78
|
1.47
|
|
|
|
|
|
|
|
GZK604
|
261.78
|
265.25
|
3.47
|
1.55
|
|
|
265.70
|
267.50
|
2.35
|
1.80
|
|
|
|
|
|
|
|
Hole No.
|
From
|
To
|
Interval
|
Grade
|
|
|
|
|
|
|
|
GZK760
|
427.31
|
429.51
|
2.20
|
3.92
|
|
|
430.31
|
431.36
|
1.05
|
0.75
|
|
|
|
|
|
|
|
GZK616
|
106.79
|
107.84
|
1.05
|
2.15
|
|
|
108.91
|
109.93
|
1.02
|
1.52
|
|
OR
|
|
|
|
|
|
GZK616
|
104.74
|
109.93
|
5.19
|
1.08
|
This press release has been
reviewed by Norman L. Tribe, P. Eng., a qualified person under NI 43-101.
GOLDREA RESOURCES CORP.
Larry
W. Reaugh,
President
& Chief Executive Officer
Information
Contact
Larry W. Reaugh
President & CEO
Head Office: 2A 15782
Marine Drive, White Rock, B.C. V4B 1E6
Telephone: 604-531-9639 Facsimile: 604-531-9634
Email: info@goldrea.com
The TSX-Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release.
www.goldrea.com