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3.05 g/t gold over 28.0 meters
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May 2, 2007, - Vancouver -- Golden Peaks Resources Ltd. (TSX: GL). The
Company is pleased to update progress on its La Fortuna gold project in
Patagonia, Argentina. Since January 2007, 43 holes have been drilled to
delineate the original T-11 discovery and the NX extension. Results
from these holes will be released once assays have been received,
evaluated and checked. In addition, approximately 4,800 meters of
access roads were constructed in rugged terrain to give access to the
drill platforms.
Results have been received from a back-hoe trenching program which was
also undertaken as part of the current program. A 1.5 meter deep
back-hoe trench was excavated and chip sampled in the centre of the
T-11 zone. Trenching did not penetrate through the oxidized zone. The
results were:
3.05 g/t gold over 28.0 meters
incl. 6.72 g/t gold over 10.0 meters
incl. 9.34 g/t gold over 6.0 meters
incl. 13.08 g/t gold over 2.0 meters
and 16.92 g/t gold over 1.0 meters
The Company currently has two drill rigs operating on the property. One
drill is testing surface gold mineralization between the T-11 zone and
the Amphitheatre. The second drill has been moved back to the T-11 zone
to complete additional drilling.
The drill contractor is Connors Argentina S.A. Split/sawn core samples
are assayed by Alex Stewart (Assayers) Argentina S.A., a certified ISO
9002 laboratory. In accordance with the Company's QC/QA policy all high
grade samples will be check assayed at a different laboratory.
This press release has been reviewed and approved by Dr. Kieran Downes,
P.Geo., President of Golden Peaks Resources Ltd. and a Qualified Person
as defined by National Instrument 43-101, under whose direction the
exploration programs are being carried out.
Media Information, contact:
Scott Emerson, Chairman and Director
SE@goldenpeaks.com
Investor Information, contact:
Mike Kordysz, Investor Communications
MK@goldenpeaks.com
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
The statements herein that are not historical facts are forward-looking
statements. These statements address future events and conditions and
so involve inherent risks and uncertainties, as disclosed under the
heading "Risk Factors" in the company's periodic filings with Canadian
securities regulators. Actual results could differ from those currently
projected. The Company does not assume the obligation to update any
forward-looking statement.
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Copyright (c) 2007 GOLDEN PEAKS RESOURCES LTD. (TSX-V:GL) All rights
reserved. For more information visit our website at
http://www.goldenpeaks.com/ or send mailto:info@goldenpeaks.com
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