Searchgold Resources Inc

Published : March 29th, 2010

Hits Up to 0.54 G/T Au Over 25 M in AC Drilling of New Exploration

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Keywords :   Burkina Faso | Gabon | Gold |

 
 
SearchGold Resources Inc.
TSX VENTURE: RSG
FRANKFURT: S1O
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March 29, 2010
SearchGold Hits Up to 0.54 G/T Au Over 25 M in AC Drilling of New Exploration Targets, Arae-Gassel, Burkina Faso
MONTREAL, QUEBEC--(Marketwire - March 29, 2010) - SearchGold Resources Inc. ("SearchGold")(TSX VENTURE:RSG)(FRANKFURT:S1O) is pleased to announce the AC drilling results of its recent AC/RC drilling program realized in partnership with Swala Resources plc ("Swala") on the Arae-Gassel Gold Property ("Arae-Gassel") located in northern Burkina Faso, West Africa.

To evaluate the regional potential of the property and generate proper targets prior to this drilling campaign, surface work comprising ground geophysical and geochemical surveys was executed (see press release dated December 22nd 2009). Anomalies were outlined on 7 targets (Kerboule S NE, Yalema, Yalema E, MK, Gassel-Haissa N, Galo-Diomour and Ariel) and were investigated in the recent program by 66 AC drill holes with individual depths of mostly 30 m and totalling 2,000 m. See attached figure: http://media3.marketwire.com/docs/Arae-Gassel-drilling-explo.pdf

The drilling strategy was to execute sections of 2 to 6 overlapping holes to cover the targeted areas. The detailed results of the program are presented below.

Kerboule S NE target / 6 holes totalling 180 m. Significant intervals include:

--  G09041 : 3.92 g/t Au over 3 m from 4 to 7 m (including 11.51 g/t Au over
    1 m) 
--  G09045 : 2.34 g/t Au over 1 m from 2 to 3 m
 
Yalema / 16 holes totalling 500 m. Significant intervals include:

--  A09012 : 1.53 g/t Au over 6 m from 35 to 41 m 
--  A09014 : 1.18 g/t Au over 1 m from 4 to 5 m 
--  A09021 : 1.08 g/t Au over 2 m from 17 to 19 m 
--  A09022 : 1.23 g/t Au over 1 m from 2 to 3 m 
--  A09025 : 0.95 g/t Au over 2 m from 18 to 20 m
 
Yalema E / 11 holes totalling 330 m. Significant intervals include:

--  G09050 : 1.12 g/t Au over 1 m from 27 to 28 m 
--  G09051 : 1.00 g/t Au over 5 m from 20 to 25 m (including 2.97 g/t Au
    over 1 m)
 
Ariel / 11 holes totalling 330 m. Significant intervals include:

--  G09028 : 0.93 g/t Au over 8 m from 19 to 27 m 
--  G09029 : 0.92 g/t Au over 3 m from 5 to 8 m and 1.37 g/t Au over 3 m
    from 19 to 22 m (including 3.57 g/t Au over 1 m) 
--  G09031 : 0.54 g/t Au over 25 m from 5 to 30 m (including 1.16 g/t Au
    over 4 m and 1.77 g/t Au over 1 m)
 
Galo-Diomour / 3 holes totalling 90 m. Significant intervals include:

--  G09054 : 1.23 g/t Au over 1 m from 0 to 1 m and 1.07 g/t Au over 2 m
    from 28 to 30 m
 
Gassel-Haissa N / 17 holes totalling 510 m. Significant intervals include:

--  A09042 : 0.65 g/t Au over 13 m from 12 to 25 m (including 2.71 g/t Au
    over 1 m), 1.11 g/t Au over 1 m from 20 to 21 m and 1.99 g/t Au over 1 m
    from 24 to 25 m 
--  G09046 : 0.51 g/t Au over 3 m from 1 to 4 m (including 1.15 g/t Au over
    1 m) 
--  A09047 : 2.46 g/t Au over 3 m from 26 to 29 m (including 6.45 g/t Au
    over 1 m)
 
Drilling was performed at high angle to the mineralized structures but exact true widths are unknown. These recent results will be integrated in the property geology data base and further follow-up surface work will be executed once all geological interpretations have been completed.

The Arae-Gassel exploration program was supervised by Mr. Moussa Keita, Ph.D., P. Geo. and Vice-president Exploration of SearchGold. Moussa Keita is a "Qualified Person" as defined in National Instrument 43-101.

Sample analysis / QA/QC

Air Core drilling (AC) was used. Individual samples weighting 1-9 kg were taken from every 1 meter intervals during drilling. These samples are split until two sub-samples of 2 kg (or less according to the material available) each are obtained. One of these samples of 2 kg (or less according to the material available) is sent to the laboratory for analysis. A rigorous QA/QC program involves the random inclusion of standards and sampling of duplicates (sent to SGS Ouagadougou, Burkina Faso) at the sample collection stage. The samples are shipped to the Abilab laboratory in Ougadougou, Burkina Faso, for analysis by bottle roll cyanidation on 1kg (or less according to the material available) pulp samples. The sample preparation and analytical procedure involves pulverizing the entire 2kg (or less according to the material available) sample followed by quartering to obtain a representative 1kg (or less according to the material available) sample which undergoes bottle roll cyanidation for 24 hours. In cases where bottle roll cyanidation yields assays greater than 0.5 g/t Au, a fire assay is executed on the pulp tailings and the head grade recalculated. The blanks have been inserted randomly by the laboratory during the analysis.

(i) The Arae-Gassel property is directly adjoining on its southern boundary Avocet Mining's Belahouro property, host of the 1.4 million ounce Inata gold deposit (5.2 million tonnes @ 2.3 g/t Au for 378,480 ounces of Measured Resources and 19.8 million tonnes @ 1.6 g/t Au for 1,018,450 ounces of Indicated Resources).

About SearchGold Resources Inc. (www.searchgold.ca)

SearchGold Resources is a Canadian-based mining company primarily focussed on gold deposits in Africa with advanced projects in Gabon and Burkina Faso. SearchGold and partner Swala Resources plc recently completed a 114-hole AC / RC drilling program, totaling 4,400 m on the Arae-Gassel property in Burkina Faso. Shares of SearchGold Resources Inc. are listed for trading on the TSX Venture Exchange as "RSG"; and the Frankfurt Stock Exchange as "S1O".

Philippe Giaro, P. Geo., President and CEO of SearchGold Resources Inc. and Qualified Person for SearchGold, has reviewed and approved the content of this release.


Neither 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.

CONTACT INFORMATION:

SearchGold Resources Inc.
Philippe Giaro, President & CEO
32-473-52-30-29
phgiaro@skynet.be

or

SearchGold Resources Inc.
Denis Tremblay, Vice-President
1-514-866-4224
info@searchgold.ca

INDUSTRY: Manufacturing and Production - Mining and Metals


.
Data and Statistics for these countries : Burkina Faso | Gabon | All
Gold and Silver Prices for these countries : Burkina Faso | Gabon | All

Searchgold Resources Inc

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CODE : RSG.V
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Searchgold is a gold exploration company based in Canada.

Searchgold holds various exploration projects in Gabon.

Its main exploration properties are MANDIANA in Guinea, BOOUÉ - MIMONGO and BAKOUDOU - MAGNIMA in Gabon and DOU - TAOUREMBA, ZITENGA II, GUEGUERE and ARAE-GASSEL in Burkina Faso.

Searchgold is listed in Canada. Its market capitalisation is CA$ 1.6 millions as of today (US$ 1.4 millions, € 1.1 millions).

Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.01, and its highest recent level on March 19, 2010 at CA$ 0.72.

Searchgold has 32 835 000 shares outstanding.

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Financings of Searchgold Resources Inc
9/20/2012. Announces Private Placement
Project news of Searchgold Resources Inc
6/9/2011(Gueguere)Provides Update on Gueguere Following Indigo's Drill Interce...
3/29/2010(Arae-gassel)Hits Up to 0.54 G/T Au Over 25 M in AC Drilling of New Explo...
3/18/2010(Arae-gassel)Hits Up to 1.69 g/t Au Over 50 m in Kerboule South RC Drilli...
12/22/2009(Arae-gassel)Targets Large Scale Resource and Starts Drilling on Arae-Gas...
10/23/2009(Arae-gassel)and Swala to Start Drilling in November 2009 on Arae-Gassel ...
5/28/2009(Mandiana)Diamond Production and Sales
5/19/2009(Gueguere)Options Gueguere Property South of Poura Mine in Burkina Fas...
8/13/2008(Bakoudou - Magnima)Reports an Open Pit Gold Reserve of 150,000 Ounces of Gold ...
2/14/2008(Bakoudou - Magnima) INTERSECTS 16.43 G/T AU OVER 4 M AND PROVIDES DRILLING UPDA...
Corporate news of Searchgold Resources Inc
10/29/2012. Announces Decision of its Joint Venture Partner to Not Pro...
7/13/2011Announces Board and Management Changes
6/23/2011Provides Update on Swala and Burkina Faso
6/22/2011Reminds Shareholders About its Annual General Meeting of Jun...
5/19/2011Sells Remaining 27% Interest in Bakoudou-Magnima to Managem
4/26/2011Provides Update on Stellar Diamonds plc, Strategic Focus on ...
3/24/2011Provides an Update on its Burkina Faso Activities
7/7/2010Note Reference to Swala
6/23/2010Will Not Consolidate its Shares
6/15/2010Recommends a Vote for The Share Consolidation to Its Shareho...
6/1/2010Proposes a Share Consolidation to its Shareholders
11/3/2009Proposed Merger Between Stellar Diamonds and West African Di...
9/18/2009Completes a $372,000 Financing
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