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Goldrush Resources Ltd. (TSX VENTURE:GOD
- News) reports a
potentially significant drill intersection on the westernmost line of the G2
grid that covers the western portion of the Ronguen
gold deposit in Burkina Faso, West Africa. Reverse circulation
("RC") hole KGRR010-105 intersected 6.72 g/t gold over 8 metres in an altered, pyritized
diorite cut by quartz veinlets, which is centered
at the transition between saprolite and fresh rock
at a vertical depth of 44.50 metres. This drill
hole cut an area of mineralization that is open to the west and is on trend
of a number of areas of elevated soil and rock geochemistry and artisanal
mining sites that extend up to 12 kilometres to the
west of the Ronguen gold deposit.
Goldrush has also intersected 32.95 g/t gold
over 1 metre in a saprolitized
metasediment centred at
6.70 metres vertical in RC hole KGR010-102 which is
located on the adjoining section 40 metres to the
east of hole KGRR010-105.
Goldrush President & CEO Len Brownlie, Ph.D commented that
the assay data from these two holes suggests that significant gold
mineralization may occur to the west of the currently drilled portion of the Ronguen Deposit. Further RC drilling is planned in
December and January, 2011 for the area to the west of hole 105, and
exploration will continue along the 12 kilometre
trend to the west.
Assay Results
Significant assay results from the final
eight RC holes drilled on the western G2 grid in the Phase 2 - 2010 drill
program are noted above and in the following table:
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Inter- Vertical
Line Station section Gold depth
(Grid (Grid From To (2) Grade (1)
Hole ID Co-ord) Co-ord) Grid (m) (m) (m) (g Au/t) (m)
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KGRR010-098 620E 21N G2 48 49 1 1.53 39.7
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and 58 64 6 0.93 50.0
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and 103 106 3 0.50 85.6
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KGRR010-100 340E 1S G2 16 21 5 1.43 13.0
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KGRR010-101 260E 5N G2 18 19 1 0.89 13.1
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and 22 24 2 0.65 16.3
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and 31 32 1 1.88 22.3
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KGRR010-102 20E 10N G2 9 10 1 32.95 6.7
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and 21 22 1 0.72 15.2
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KGRR010-105 20W 54S G2 37 38 1 1.11 32.5
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and 47 55 8 6.72 44.2
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including 47 48 1 25.90
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KGRR010-106 460E 20N G2 1 4 3 1.65 1.8
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(1) "Vertical depth" is the calculated depth to the centre of the
intersection.
(2) True widths are determined to be 90 to 95% of core intervals.
Note: Holes KGR010-103 and KGR010-104 did not intersect any gold
mineralization at or above a cut-off of 0.5 g/t gold
Drill hole
lengths varied from 30 to 120 metres, with
inclinations of -45 to -60 degrees and an azimuth of 24 degrees. A total
length of 496 metres in the eight RC holes was
sampled and submitted for assaying. A surface plan showing the drill hole locations is available at www.goldrushresources.ca.
Ongoing Exploration
Goldrush is awaiting assay results from three
trenches excavated on the northeastern border of the G1 (eastern) grid and
from a 4,000 metre RAB drilling program that tested
new targets on the two permits that host the Ronguen
deposit. This RAB drilling program included holes to probe the area to the
north of hole KGRR010-099 to help delineate the
limits of that interpreted area of supergene enrichment (see Goldrush news release #15-2010, dated November 17, 2010
for full details). A contract has been signed for a 5,000 metre
RC drilling program on the permits that contain the Ronguen
deposit. This program will commence in mid-December or early January,
depending on rig availability and will be operated on a two shift per day
basis, thereby accelerating the program.
Trenching, ground geophysical and RAB
drilling programs will also be initiated shortly on the prospective Ouavousse and Salbo permits.
Quality Assurance/Quality Control
Goldrush maintains a rigorous quality control
program involving the use of repeat assays, inserted blanks and the use of
certified standards from an accredited Canadian laboratory. Details of Goldrush's quality control program were provided in the
Company's News Release #2010-13, dated October 25, 2010.
The ALS Chemex
laboratory in Ouagadougou, Burkina Faso was used for sample analysis. For its
internal control, ALS Chemex inserted two certified
standards, one blank and analyzed one random duplicate for approximately each
25 samples submitted. For its certified standard and blank samples included
in the QA-QC procedure, Goldrush averaged 7.25% of
the total samples submitted.
Mr. Driffield
Cameron, P. Geo., Director of Goldrush, is the
Qualified Person for this press release for the purposes of National
Instrument 43-101 and has reviewed the technical information herein.
For further information on Goldrush Resources Ltd., shareholders and other
interested parties are invited to visit the Company's website at
www.goldrushresources.ca.
ON BEHALF OF THE BOARD OF DIRECTORS,
GOLDRUSH RESOURCES LTD.
Len Brownlie -
President and Chief Executive Officer
About Goldrush:
Goldrush is a mineral exploration company focused
on gold exploration in West Africa.
FORWARD-LOOKING STATEMENTS: This news
release contains certain "forward-looking statements" within the
meaning of Section 21E of the United States Securities Exchange Act of 1934,
as amended. Except for statements of historical fact relating to the company,
certain information contained herein constitutes forward-looking statements.
Forward-looking statements are frequently characterized by words such as
"plan", "expect", "project", "intend",
"believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. Forward-looking statements are
based on the opinions and estimates of management at the date the statements
are made, and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from
those projected in the forward-looking statements. These factors include the
inherent risks involved in the exploration and development of mineral
properties, the uncertainties involved in interpreting drilling results and
other geological data, fluctuating metal prices, the possibility of project
cost overruns or unanticipated costs and expenses, uncertainties relating to
the availability and costs of financing needed in the future and other
factors. The Company undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions should
change. The reader is cautioned not to place undue reliance on forward-looking
statements.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Contact:
Don Willoughby
Goldrush Resources Ltd.
VP Corporate Development
(604) 602-9973
(604) 681-5910 (FAX)
info@goldrushresources.ca |