Gold Reach Resources Ltd

Published : March 01st, 2011

Identifies Multiple Drill Targets on Auro Property

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Keywords :   Antimony | Copper | Gold | Gold Discovery | Molybdenum | Silver |
Gold Reach Resources Ltd.

GoldReach Identifies Multiple Drill Targets on Auro Property

March 1st 2011, Vancouver, British Columbia: GoldReach Resources Ltd. (GRV: TSX-V) ("GoldReach" or the "Company") has received final recommendations from previously completed geochemical and geophysical surveys on its 100 percent owned Auro property ("property") adjacent to Richfield Ventures gold discovery. The Company has reviewed these recommendations and is currently planning an aggressive drill program for the 2011 field season.

In 2010, GoldReach contracted three consulting firms to complete specialized surveys on the property, as listed below. A compilation of all survey data has now defined several legitimate drill targets for the coming season;

  • Fugro Airborne Surveys completed an aeromagnetic survey over the entire 14,500 hectare property detailing, in part, the extension of the semi-circular aeromagnetic ring structure that flanks Richfield's Blackwater gold discovery, 5 kilometres to the northwest of the Auro claims.
     
  • Smee and Associates Consulting Ltd. guided and consulted on a soil pH program and deep penetrating ultra trace element geochemical soil sampling, with field work specifically covering the entire portion of the magnetic ring structure on the north west part of the Auro property. Approximately 6000 samples were collected from the Ae and Ah soil horizons. Interpretation of these results by Smee and Associates was critical in defining new epithermal and porphyry related signatures.
     
  • Field crews from SJ Geophysics collected over 80 line kilometres of three dimensional Induced Polarization (3D IP) geophysical data and later inverted both aeromagnetic and 3D IP data into a computer block model allowing easier interpretation and drill target identification.

The surveys have identified at least ten overlapping and independent geochemical and geophysical targets that require additional follow-up. Four of these targets are road accessible and drill ready; the six remaining targets are open in length and require minor upgrading before drill testing.

The drill ready targets are defined as isolated to multi-station geochemical anomalies (90 - 95 percentile) that include gold, silver, arsenic, antimony, copper and molybdenum signatures. These geochemical signatures, among others are associated and flanked by medium strength 3D IP chargeability high anomalies, low and high resistivity features, encouraging rock lithologies and in one case indications of fine grain disseminated to fracture filled copper sulphide in surface material.

The entire Auro property is covered with a thick veneer of glacial sediments, making conventional exploration problematic. GoldReach believes by combining these alternative geochemical and geophysical techniques it will have utilized the most current methods available to penetrate the thick glacial tills and identify new 'insitu' bedrock anomalies with potential epithermal and porphyry style signatures. Specialized pH surveys, in combination with other geophysical surveys have been successful in defining other 'blind' mineralization in British Columbia, such as Mount Milligan and the Kwanika porphyry occurrences, where glacial tills and post mineral sedimentary rocks are known to exceed in some cases up to 300 metres in thickness.

Technical information in this news release has been reviewed by Jim Cuttle P. Geo., a qualified person as defined in NI 43-101.

 

ON BEHALF OF THE BOARD OF DIRECTORS

Conrad Swanson
President
For Further information, please contact:
Telephone: 604-718-5454
Toll Free: 888-500-4587

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS 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.

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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