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Resource Calculation Initiated
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September 2, 2008, -- Vancouver --Golden Peaks Resources. (the
"Corporation") is pleased to announce that it has commissioned Snowden
Mining Industry Consultants Inc. ("Snowden") to establish an
independent resource calculation on the developing La Fortuna gold
project in southern Argentina.
Snowden is an internationally recognized consulting engineering firm
headquartered in Australia and will produce a report that conforms to
Canadian National Instrument 43-101 rules and regulations. The Snowden
staff based in Vancouver, B.C. will complete the study.
The resource calculation will be based on diamond drilling completed by
the Corporation. To date, 244 holes have been drilled on the La Fortuna
project by the Corporation. Approximately 85% of the holes have
intersected gold (+/- silver) mineralization over potentially mineable
widths and successive drill campaigns have identified new zones of gold
mineralization.
The Snowden resource calculation marks a further step in the
advancement of the La Fortuna Gold Project to future production of gold
(+/-silver) mineralization. The La Fortuna project is in the early
stages of development in an area that is evolving into a mineral
district with multiple gold targets/deposits. The presence of
approximately 20 km of gold bearing structures, the high rate of
drilling success, and the fact that the known deposits are open at
depth and along strike, all suggest a strong potential to add
additional resources.
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) 2008 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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