FOR IMMEDIATE RELEASE
TWO STEP OUT HOLES EXTEND THE TIANJIA
ZONE 600 METERS
TO THE SOUTHWEST. SHANDONG,
CHINA
October 11, 2007
- Vancouver, British Columbia
Goldrea Resources Corp. (GOR-TSX.V; Frankfurt-GOJ; Pink Sheets-GORAF) reports that the
Company is continuing to drill fill-in holes on the Jingkou
zone at the western end of the structure and step-out holes to the
southwest. The �Golden Rose Shaft has
reached its ultimate depth and the shaft fittings are complete. The construction of the production hoisting
equipment and the associated infrastructure is nearing completion and the crews
are awaiting the delivery of the hoist for installation. The delivery of the hoist was delayed due to
bad weather and currency exchange procedures. This shaft is a five compartment
concrete lined shaft designed for depth of 234 meters (768 feet). Hoisting equipment is designed to move 200 tpd from the Shijia zone at 210
meters and to provide hoisting capability for the southward and downward
extensions of the Main Zone ore.
Drilling
continues with two drill machines working full time on the Daye Property. Two
more machines have been ordered to start as soon as they are available.
A new shaft, to
be called the �Golden Dragon Shaft�, will be collared just east of the Jingkou Zone as defined by the exploration drilling. The recommended location is at 4106900N,
40612000E. Work will begin as soon as
the crews are available from the �Golden Rose Shaft� infrastructure
installation. 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. 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
|
|
Hole No.
|
From
|
To
|
Interval
|
Grade
|
|
|
|
|
|
|
|
GZK749
|
76.50
|
77.50
|
1.00
|
1.81
|
|
|
80.82
|
81.62
|
0.80
|
1.86
|
|
|
|
|
|
|
|
GZK750
|
132.73
|
133.60
|
0.87
|
1.56
|
|
|
|
|
|
|
|
GZK758
|
519.81
|
520.66
|
0.85
|
1.40
|
|
|
526.96
|
527.86
|
0.90
|
1.23
|
|
|
528.61
|
533.71
|
5.10
|
1.21
|
|
|
|
|
|
|
|
GZK760
|
427.31
|
429.51
|
2.20
|
3.92
|
|
|
430.31
|
431.36
|
1.05
|
0.75
|
|
|
|
|
|
|
|
GZK825
|
108.22
|
112.51
|
4.29
|
1.23
|
|
|
|
|
|
|
|
GZK852
|
87.24
|
88.04
|
0.80
|
1.45
|
|
|
|
|
|
|
|
GZK863
|
304.41
|
305.46
|
1.05
|
1.03
|
|
|
|
|
|
|
|
|
Hole GZK749 was
designed to provide better details on the upper part of the Jingkou
Zone.
Hole GZK750 was
designed to define the limits of the Jingkou zone to
the east but has in fact extended the limits of the zone to the point where it
may converge with the western end of the Tianjia Zone
Holes GZK758 and
760 are new discoveries 600 meters down dip from the West Tianjia mineralization mapped on surface. The Tianjia zone is
spotty nearer surface, showing good results on surface and discontinuous
marginal intercepts between 100 meters and 400 meters. These two holes indicate that the
mineralization reappears at depth with good grades and good widths.
Hole GZK825 is
designed to better define the Main Zone Ore at the southeast corner of the
pit. This area is within the pit layback
design and at the boundary of Goldrea�s Joint Venture
and the Daye Mining Group Mining Lease.
There is a small
zone of mineralization, called the East Tianjia Zone
at the eastern edge of the village
of Tianjia. There are two old artisan shafts on this
mineralization and the artisan miners report that the grade was good. Hole 852 was designed to intersect this zone
down dip and outside the confines of the village. The intersections indicate that the zone is
there and is productive. There is
unexplored ground down dip that provides excellent targets for easily
accessible mineralization. This downward
extension of the East Tianjia Zone will drilled as soon as other targets are defined. This area is cultivated with orchards and
drilling will have to be done carefully and probably in the winter, so as to
avoid damage to the trees.
Hole 863 may be a
further indication of the East Tianjia Zone 600
meters down dip or an off-shoot of the Main Zone. Considerable fill-in drilling will be
required before the East Tianjia Zone is
defined.
Goldrea has been
actively seeking other properties in China. These efforts have been directed toward
properties in production or nearing production or in need of expansions from
existing capacity. The most promising of
these properties is a producing Diamond Mine near Jinan
the capital of Shandong
Province. Field and underground reconnaissance and mill
circuit investigations have been completed and the Company is currently
contemplating negotiations to purchase a percentage of the property.
The purchase
agreement for the Daye mine has been approved by the Municipal and Provincial
Governments and the Company is awaiting approval from the Central Government.
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 and 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.