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Re: News Releases - Thursday, March 05, 2009
Golden Peaks Resources Ltd - La Fortuna: Expanded - New
Discoveries
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March 5, 2009, - Vancouver - Golden Peaks Resources Ltd. (TSX: GL) is
pleased to report new exploration results from its ongoing field
program in the La Fortuna gold district, Patagonia, Argentina. Field
crews completed reconnaissance prospecting and sampling in an area of
approximately 13 square kilometres between the Canadon Bagual, Portrero
and the ML prospects. This area had not been prospected previously.
A total of 621 rock samples were collected for assay.
http://www.goldenpeaks.com/i/maps/CBPortreroandMLSamples2009.jpg - Thu
Mar 5, 2009. The new gold and silver assays, along with anomalous
values in epithermal 'gold-pathfinder' elements such as mercury,
antimony, arsenic and tellurium, indicate this area of the La Fortuna
gold district is expanding rapidly and is highly prospective for the
discovery of large deposits of epithermal gold mineralization.
Numerous new zones of structurally controlled mineralization in
hydrothermal veins and breccias were discovered in this, highly
prospective area. Significant extensions to the Canadon Bagual,
Portrero and ML zones were discovered along with a number of exciting
new zones. The Canadon Bagual and Portrero zones contain gold and
silver rich lead-zinc mineralization. The ML zone, which contains
anomalous values of gold, silver, arsenic, mercury, lead and antimony,
may represent a clay and silica cap over deeper mineralization.
Prior to this announcement 21 zones of structurally controlled gold
mineralization had been identified in the La Fortuna gold district on
structures with an aggregate lineal distance of approximately 20
kilometers.
The precious metal mineralization discovered to date is dominantly of
gold, however, silver is locally important. PIMA and petrographic work
indicates that gold mineralization is epithermal in character and
suggests a distinct regional zonation in the styles of mineralization
from north to south within the district.
To date, three gold deposits have been discovered (T-11, G and
Amphitheatre). A deep penetrating resistivity survey (CSAMT)
identified large resistive bodies, possibly gold mineralized quartz
veins/breccias, lying immediately beneath the T-11 and G deposits.
These resistive bodies may also be the roots of the high grade gold
veins - changes in the character and grade of the gold mineralization
can be expected deeper in the mineralizing system. These high impact
targets beneath the T-11 and G deposits will be tested, at depths of
between 200m to 400m.
Since the initial gold discovery in 2006 a total of 244 diamond drill
holes have been drilled on 20 of the 21 gold deposits/zones in the La
Fortuna gold project on a broad spacing (to size the project). The
wide spaced drilling intersected gold mineralization in every zone and
indicates significant potential in every zone
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 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) 2009 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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Golden Peaks Resources Ltd.
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EXPLORATEUR |
CODE : GL.TO |
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CUSIP : 28114L106 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Golden Peaks Res. est une société d’exploration minière d'or basée au Canada. Golden Peaks Res. détient divers projets d'exploration en Argentine. Ses principaux projets en exploration sont GOLDEN CATEO et LA FORTUNA en Argentine. Golden Peaks Res. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 29,9 millions CA$ (29,4 millions US$, 23,1 millions €). La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 2,90 CA$, et son plus bas niveau récent le 05 décembre 2008 à 0,15 CA$. Golden Peaks Res. possède 115 059 000 actions en circulation. |