Golden Reign Resources Ltd.: Las Dolores Trenching Returns 21.00 g/t Gold and 21.9 g/t Silver Over 4.0 Metres; Exploration Pit Yields 20.54 g/t Gold and 33.7 g/t Silver Over 4.0 Metres
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/21/13 -- Golden Reign Resources Ltd. (TSX VENTURE: GRR) (the "Company" or "Golden Reign") is pleased to provide additional results from the Las Dolores Area in the Southern District of its San Albino-Murra Property (the "Property") located in Nueva Segovia, Nicaragua.
The Las Dolores Area is one of four highly prospective mineralized areas, covering 2.5 square kilometres, located only 1.5 kilometres south of the Company's San Albino Gold Deposit (NI 43-101 technical report and resource estimate available on www.sedar.com and www.goldenreign.com) - all of which can be extended by further trenching and offer potential for the development of significant open-pittable resources. Golden Reign plans to drill test all four mineralized areas in 2013.
Bordering the Company's El Jicaro Concession to the south, the Las Dolores Area hosts near-surface high-grade mineralization that has currently been traced along strike for approximately 1,000 metres. Two prime targets - the Las Dolores mine and the California vein - are situated at the northeast and southwest end, respectively, of the currently outlined zone (see attached map). The zone remains open along strike in both directions and at depth. The southwest extension of the zone has been projected for a further 1,000 metres and lies within the El Jicaro Concession. This zone closely mirrors the 'Golden Mile' the longest high-grade, near-surface quartz vein structure defined on the Property to date. The Golden Mile, which has been traced over 1,500 metres and projected for a further 1,000 metres, lies immediately to the north in the Las Conchitas-Rio Jicaro Area.
The Las Dolores Area hosts several mineralized structures, first exposed by trenching in 2011, which comprise a system of parallel, sheeted, quartz veins. Clustered around the mineralized structures, generally within 100 metres, are numerous old mine dumps and pits, float material and quartz vein structures identified and tested during a 2011 comprehensive prospecting and sampling program.
Golden Reign revisited the Las Dolores Area in 2012, expanding the zone significantly with a highly successful trenching program. Of the six trenches completed, five intersected strong mineralization. Five exploration pits were then excavated to further expose the strike and dip of the mineralized veins intersected by trenching. Two pits were located at trench SAM12-TR-04 and one at each of the following trenches: LC11-TR-22; SAM12-TR-02; and SAM12-TR-03. This work was a follow-up to 2011 exploration activities that included the excavation of 8 trenches across 400 metres, testing of 3 road cuts and collection of numerous samples. Exploration results to date include:
2012 Trenching Highlights (see Table 2 below)
-- 21.00 g/t gold and 21.9 g/t silver over 4.0 metres in SAM12-TR-01, and
14.72 g/t gold and 21.6 g/t silver over 2.0 metres, and
61.06 g/t gold and 94.0 g/t silver over 1.0 metre
-- 148.70 g/t gold and 39.6 g/t silver over 1.0 metre in SAM12-TR-02, and
9.49 g/t gold and 3.3 g/t silver over 4.0 metres, and
7.25 g/t gold and 5.5 g/t silver over 2.0 metres
-- 11.40 g/t gold and 21.5 g/t silver over 7.1 metres in SAM12-TR-04
-- 11.09 g/t gold and 17.2 g/t silver over 2.0 metres in SAM12-TR-05
2012 Exploration Pits (see Table 1 below)
-- 20.54 g/t gold and 33.7 g/t silver over 4.0 metres in EP-LC11-TR22, with
13.39 g/t gold and 24.5 g/t silver over an average thickness of 1.5
metres, and
45.60 g/t gold and 174.4 g/t silver along strike over 2.0 metres
-- 8.58 g/t gold and 20.2 g/t silver over 8.5 metres in EP-2-SAM12-TR04,
with
9.72 g/t gold and 17.9 g/t silver over an average thickness of 1.53
metres
-- 16.22 g/t gold and 29.1 g/t silver over 4.6 metres in EP-1-SAM12-TR04
and
30.69 g/t gold and 47.9 g/t silver along strike over 2.8 metres, and
37.06 g/t gold and 48.5 g/t silver along strike over 2.5 metres, and
39.85 g/t gold and 34.4 g/t silver along strike over 2.5 metres
-- 13.08 g/t gold and 4.9 g/t silver along strike over 1.0 metre in EP-
SAM12-TR03
2011 Trenching Highlights (see Table 2 below)
-- 5.89 g/t gold and 11.8 g/t silver over 14.0 metres in LC11-TR-21, and
4.56 g/t gold and 7.3 g/t silver over 2.0 metres
-- 10.81 g/t gold and 6.0 g/t silver over 7.0 metres in LC11-TR-22
-- 18.59 g/t gold and 4.4 g/t silver over 1.0 metre in LC11-TR-30
2011 Sampling Highlights (see news release dated March 21, 2012)
-- 69.33 g/t gold and 47.8 g/t silver over 2.0 metre channel sample
-- 45.42 g/t gold and 74.0 g/t silver, representative sample from old
California pit#1 mine dump
-- 33.12 g/t gold and 35.1 g/t silver, float sample from old California
pit#2
-- 88.46 g/t gold and 127.5 g/t silver, float sample from old California
pit#3; and
42.54 g/t gold and 27.0 g/t silver, float sample
-- 43.31 g/t gold and 42.3 g/t silver, float sample from old Siles pit#3
-- 66.40 g/t gold and 84.6 g/t silver, float sample from old Las Dolores
mine dump#2
-- 16.61 g/t gold and 51.7 g/t silver, float sample from old Las Dolores
mine dump#1
Gold Mineralization in the Country Rock
All 4 of the highly prospective mineralized zones - San Pablo Area, Intermediate Area, Las Conchitas/Rio Jicaro Area and Las Dolores Area - exhibit gold mineralization in the country rock (phyllites) containing quartz veinlets, not just in the quartz veins. Further, in 3 of the 4 areas, Golden Reign has discovered heavily mineralized sulphide masses (bodies) intercalated with quartz veins. The Company plans to collect bulk samples: for metallurgical testing purposes; to better estimate the grade potential of the mineralized zones; and, to evaluate the potential for larger bulk tonnage targets.
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TABLE 1 - 2012 EXPLORATION PIT SAMPLES
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Au Ag
Exploration Pit Sample # Width (m) Sample type Rock type (g/t) (g/t)
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EP-2-SAM12-TR04 142839 1.00 Dip Mineralized 10.86 18.5
quartz vein
-------------------------------------------------------------
142840 1.00 Dip Mineralized 2.73 8.4
quartz vein
-------------------------------------------------------------
142842 1.00 Dip Mineralized 23.32 54.7
quartz vein
-------------------------------------------------------------
142843 1.00 Dip Mineralized 19.69 39.8
quartz vein
-------------------------------------------------------------
142844 1.00 Dip Mineralized 5.82 10.8
quartz vein
----------------------------------------------------------------------------
142845 1.50 Dip Phyllite with 2.28 5.0
Qtz veinlets
-------------------------------------------------------------
142846 1.00 Dip Mineralized 5.15 13.9
quartz vein
-------------------------------------------------------------
142847 1.00 Dip Mineralized 1.95 18.0
quartz vein
----------------------------------------------------------------------------
142848 1.80 True Thickness Mineralized 2.22 10.3
quartz vein
-------------------------------------------------------------
142849 1.60 True Thickness Mineralized 5.98 9.9
quartz vein
-------------------------------------------------------------
142850 1.50 True Thickness Mineralized 8.86 20.2
quartz vein
-------------------------------------------------------------
174102 1.50 True Thickness Mineralized 11.23 19.7
quartz vein
-------------------------------------------------------------
174103 1.80 True Thickness Mineralized 19.48 31.3
quartz vein
-------------------------------------------------------------
174104 1.00 True Thickness Mineralized 10.70 13.7
quartz vein
-------------------------------------------------------------
174105 1.00 Strike Mineralized 1.58 1.6
quartz vein
-------------------------------------------------------------
174106 2.00 Strike Mineralized 14.81 27.9
quartz vein
-------------------------------------------------------------
174107 2.00 Strike Mineralized 20.98 37.9
quartz vein
-------------------------------------------------------------
174108 2.00 Strike Mineralized 14.69 29.3
quartz vein
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EP-1-SAM12-TR04 75872 1.00 Dip Mineralized 28.24 33.2
Quartz vein
-------------------------------------------------------------
75873 1.00 Dip Mineralized 11.12 20.6
Quartz vein
-------------------------------------------------------------
75874 1.00 Dip Mineralized 26.96 70.2
Quartz vein
-------------------------------------------------------------
75875 1.00 Dip Mineralized 3.02 6.4
Quartz vein
-------------------------------------------------------------
75876 0.60 Dip Mineralized 8.75 5.6
Quartz vein
-------------------------------------------------------------
72677 1.50 Strike Mineralized 20.72 40.1
Quartz vein
-------------------------------------------------------------
72678 1.30 Strike Mineralized 42.20 56.2
Quartz vein
-------------------------------------------------------------
72679 1.50 Strike Mineralized 18.95 38.6
Quartz vein
-------------------------------------------------------------
72680 1.00 Strike Mineralized 64.23 63.3
Quartz vein
-------------------------------------------------------------
72681 1.50 Strike Mineralized 8.03 6.4
Quartz vein
-------------------------------------------------------------
72682 1.00 Strike Mineralized 87.57 76.5
Quartz vein
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EP LC11-TR22 174132 1.00 Dip Mineralized 2.55 4.0
quartz vein
with massive
sulphide lenses
-------------------------------------------------------------
174133 1.00 Dip Mineralized 12.87 25.8
quartz vein
with massive
sulphide lenses
-------------------------------------------------------------
174134 1.00 Dip Mineralized 44.29 55.1
quartz vein
with massive
sulphide lenses
-------------------------------------------------------------
174135 1.00 Dip Mineralized 22.45 49.9
quartz vein
with massive
sulphide lenses
-------------------------------------------------------------
174137 1.50 True Thickness Mineralized 1.14 2.9
quartz vein
with massive
sulphide lenses
-------------------------------------------------------------
174138 1.50 True Thickness Mineralized 25.64 46.0
quartz vein
with massive
sulphide lenses
-------------------------------------------------------------
174139 2.00 Strike Mineralized 45.60 174.4
quartz vein
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EP SAM12-TR02 72591 1.00 True Thickness Mineralized 1.78 2.4
quartz vein
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EP SAM12-TR03 75858 1.00 Strike Mineralized 13.08 4.9
quartz vein
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Table 2 - 2011-2012 LAS DOLORES TRENCH RESULTS
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Sample Au Ag
Trench # Sample # Width (m) type Rock type (g/t) (g/t)
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LC11-21 66362 1.0 Floor Phyllite with 4.57 11.3
quartz veinlets
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66363 1.0 Floor Heavy sulphide 5.13 28.7
mineralized quartz
vein
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66364 1.0 Floor Heavy sulphide 4.91 16.9
mineralized quartz
vein
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66365 1.0 Floor Heavy sulphide 16.11 24.4
mineralized quartz
vein
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66366 1.0 Floor Heavy sulphide 7.69 14.8
mineralized quartz
vein
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66367 2.0 Floor Phyllite with 0.64 0.3
quartz veinlets
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66368 2.0 Floor Phyllite with 9.51 15.4
quartz veinlets
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66369 1.0 Floor Heavy sulphide 7.27 11.5
mineralized quartz
vein
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66370 1.0 Floor Heavy sulphide 1.78 3.2
mineralized quartz
vein
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66371 1.0 Floor Heavy sulphide 2.82 5.7
mineralized quartz
vein
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66372 1.0 Floor Heavy sulphide 10.59 14.2
mineralized quartz
vein
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66373 1.0 Floor Heavy sulphide 1.32 3.2
mineralized quartz
vein
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66377 2.0 Floor Phyllite with 4.56 7.3
quartz veinlets
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66381 1.0 Strike Heavy sulphide 9.57 12.8
mineralized quartz
vein
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66383 1.0 Strike Heavy sulphide 6.58 5.8
mineralized quartz
vein
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66384 1.0 Strike Heavy sulphide 1.91 4.1
mineralized quartz
vein
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66385 1.0 Strike Heavy sulphide 2.32 3.9
mineralized quartz
vein
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66386 1.0 Strike Heavy sulphide 19.55 29.5
mineralized quartz
vein
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66387 1.0 Strike Heavy sulphide 6.57 28.1
mineralized quartz
vein
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66388 1.0 Strike Heavy sulphide 5.53 20.7
mineralized quartz
vein
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LC11-TR-22 176638 1.0 Floor Mineralized quartz 11.82 19.0
vein with massive
sulphide lenses
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176639 1.0 Floor Mineralized quartz 22.08 30.9
vein with massive
sulphide lenses
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176640 1.0 Floor Mineralized quartz 8.91 6.8
vein with massive
sulphide lenses
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176641 1.0 Floor Mineralized quartz 11.51 23.0
vein with massive
sulphide lenses
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176642 1.0 Floor Mineralized quartz 19.58 25.9
vein with massive
sulphide lenses
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176643 1.0 Floor Mineralized quartz 0.02 less
vein with massive than
sulphide lenses 0.1
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176644 1.0 Floor Mineralized quartz 1.73 1.3
vein with massive
sulphide lenses
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176696 1.0 Strike Mineralized Quartz 9.85 less
vein than
0.1
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176697 1.0 Strike Mineralized Quartz 44.37 less
vein than
0.1
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176699 1.0 Strike Mineralized Quartz 19.71 less
vein than
0.1
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176700 1.0 Strike Mineralized Quartz 31.44 2.2
vein
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176802 1.0 Strike Mineralized Quartz 6.61 6.4
vein
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LC11-TR-23 176529 1.0 Floor Mineralized quartz 5.37 9.1
vein with massive
sulphide lenses
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176530 1.0 Floor Mineralized quartz 12.23 7.0
vein with massive
sulphide lenses
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176531 1.0 Floor Phyllite with 1.61 3.0
quartz stringers
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176532 1.0 Floor Phyllite with 2.17 1.1
quartz stringers
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176614 1.0 Strike Mineralized Quartz 19.47 0.5
vein
----------------------------------------------------------------------------
176616 1.0 Strike Mineralized Quartz 3.09 0.7
vein
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LC11-TR-30 72970 1.0 Floor Phyllite with 18.59 4.4
quartz stringers
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SAM12-TR-01 73063 2.0 Floor Phyllite with 37.88 36.3
quartz fragments
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73064 2.0 Floor Phyllite with 4.11 7.5
quartz fragments
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73067 1.0 Floor Phyllite with 26.86 39.7
quartz fragments
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73068 1.0 Floor Phyllite with 2.58 3.4
quartz fragments
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73071 1.0 Floor Mineralized Quartz 61.06 94.0
vein
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73097 1.0 Strike Mineralized Quartz 70.62 59.4
vein
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72566 1.5 Vertical Phyllite 4.26 8.5
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72567 1.0 Vertical Phyllite 2.32 3.5
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72568 1.5 Vertical Phyllite 3.24 3.1
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72569 1.0 Vertical Phyllite 4.61 6.0
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72570 1.0 Vertical Phyllite 0.71 1.1
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72572 1.5 Vertical Phyllite 6.93 22.3
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SAM12-TR-02 72596 1.0 Floor Mineralized Quartz 148.47 39.6
vein
----------------------------------------------------------------------------
72651 1.0 Floor Mineralized Quartz 0.84 1.5
vein
----------------------------------------------------------------------------
72652 1.5 Floor Phyllite 0.15 0.1
----------------------------------------------------------------------------
72653 1.5 Floor Mineralized Quartz 24.60 7.8
vein
----------------------------------------------------------------------------
72656 2.0 Floor Mineralized Quartz 7.27 5.5
vein
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SAM12-TR-03 75858 1.0 Strike Mineralized Quartz 13.08 4.9
vein
----------------------------------------------------------------------------
SAM12-TR-04 72683 1.0 Strike Mineralized Quartz 3.14 14.0
vein
----------------------------------------------------------------------------
72697 1.0 Vertical Mineralized Quartz 3.34 4.7
vein
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75872 1.0 Floor Mineralized Quartz 28.24 33.2
vein
----------------------------------------------------------------------------
75873 1.0 Floor Mineralized Quartz 11.12 20.6
vein
----------------------------------------------------------------------------
75874 1.0 Floor Mineralized Quartz 26.96 70.2
vein
----------------------------------------------------------------------------
75875 1.0 Floor Mineralized Quartz 3.02 6.4
vein
----------------------------------------------------------------------------
75876 0.6 Floor Mineralized Quartz 8.75 5.6
vein
----------------------------------------------------------------------------
75877 1.5 Floor Phyllite 0.63 4.3
----------------------------------------------------------------------------
75878 1.0 Floor Mineralized Quartz 5.43 12.4
vein
----------------------------------------------------------------------------
SAM12-TR-05 76526 1.0 Floor Phyllite with 9.10 18.1
quartz lenses
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76527 1.0 Floor Phyllite with 13.08 16.3
quartz lenses
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Note: In most instances, Table 1 and 2 above provide assay results for
samples grading 1.0 g/t gold or greater.
Qualified Person
John M. Kowalchuk, P.Geo, a geologist and Company qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release on behalf of the Company.
On behalf of the Board,
Kim Evans, CGA, President & CEO
About Golden Reign:
Golden Reign Resources Ltd. is a publicly listed (TSX VENTURE: GRR) mineral exploration company engaged in exploring the San Albino-Murra Property and the El Jicaro Property, both of which are located in Nueva Segovia, Nicaragua.
The Company's land package comprises 13,771 hectares (138 km2) of highly prospective ground. Hundreds of historical mines and workings exist within the Corona de Oro Gold Belt, which is approximately 3 kilometres wide by 20 kilometres long and spans the entirety of the Company's land package.
For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com.
Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available.
To view the maps associated with this press release, please visit the following link: http://media3.marketwire.com/docs/grr-0321-maps.pdf
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Golden Reign Resources Ltd.
Kim Evans, CGA
President & CEO
(604) 685-4655 or Toll Free: 1-888-685-4655
(604) 685-4675 (FAX)
www.goldenreign.com