Goldrush Trenching Expands Mineralized Zone to the Northeast at Ronguen Gold Deposit, Burkina Faso; RAB Drilling Discovers New Zone at Pouni Artisanal Site
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/24/11 -- Goldrush Resources Ltd. (TSX VENTURE: GOD) President and CEO Len Brownlie reports that assay results from three trenches located beyond the easternmost limit of drilling to the northeast of the Ronguen Gold Deposit have succeeded in demonstrating the presence of significant gold mineralization in this previously untested area and have expanded the mineralized footprint of the deposit. The three trenches, which totaled 315 metres in length, were excavated on the northern limits of lines 1300 E, 1340 E and 1380 E of the G1 grid that covers the eastern portion of the Ronguen Gold Deposit. The easternmost trench, TR-1380E, which was excavated for 104 metres, intersected two significant gold zones in moderately to strongly deformed metasediments. The first zone assayed 0.90 g/t gold over 15.2 metres in the south end of the trench and the second zone, in the northern portion of the trench, assayed 1.45 g/t gold over 22.8 metres, including 2.09 g/t gold over 10.8 metres.
Goldrush also intersected 2.99 g/t gold over 3.4 metres in trench TR-1340E which was excavated for 200 metres and is located 40 metres to the west of TR-1380E on the adjoining grid section.
The assay results from these two trenches confirmed that significant gold mineralization may occur to the east of the currently drilled portion of the Ronguen Deposit, and have indicated that this area will be a high priority target in the coming Reverse Circulation (RC) drill program.
Rotary Air Blast ('RAB') Drill Results
The November 2010 RAB drilling program consisted of 98 holes totaling 4,023 metres, and tested targets at the margins of the Ronguen gold deposit, and several other targets identified on the Kongoussi I and Tikare permits that host the Ronguen Gold Deposit. This program culminated with drilling at the Pouni artisanal site which led to the discovery of a gold zone grading 1.94 g/t gold over 8 metres from 12.0 to 20.0 metres along the hole. The gold mineralization occurs in metasediments with quartz veining near the contact with porphyritic intrusive rocks. The Company has allocated over 1,000 metres of drilling in the upcoming RC drilling program to the Pouni site, which is located approximately 10 kilometres northeast of the Ronguen Gold Deposit.
Assay results from RAB drilling on the northern margin of the previously described supergene enrichment zone in the northern part of the Ronguen Gold Deposit (see Goldrush News Release dated November 17, 2010) confirmed the continued presence of significant gold mineralization further to the north of this zone. Gold mineralization intersected in RAB holes KGRB10-214, 215 and 216 indicate the shallow updip extension of the gold zones intersected by RC hole KGRR10-096 (7.63 g/t gold over 15 metres and 3.17 g/t gold over 22 metres and 0.60 g/t gold over 9 metres) and RC hole KGRR10-099 (3.10 g/t gold over 34 metres).
Several RAB drill targets outside the Ronguen grid were rendered inaccessible due to a combination of unharvested crops and unseasonably deep creeks and waterways. These targets will be tested in a future drilling program.
Assay Results
Significant assay results from the trenching and RAB drilling programs are noted above and in the following table:
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Trench/ WGS 84 WGS 84 Length Gold
Target Hole ID Co-ordinate Co-ordinate From To (ii) Grade
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Ronguen UTM X (m)(i) UTM Y (m)(i) (m) (m) (m) (g Au/t)
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TR-1380E 656,671.2 1,466,392.0 1.0 16.2 15.2 0.90
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60.2 83.0 22.8 1.45
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including 60.2 71.0 10.8 2.09
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TR-1340E 656,652.7 1,466,327.0 138.6 142 3.4 2.99
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KGRB010-214 656,243.0 1,466,350.0 0 28 28.0 0.63
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and 42 44 2.0 1.52
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KGRB010-215 656,234.0 1,466,372.0 30.0 32.0 2.0 0.71
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and 34.0 38.0 4.0 0.61
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KGRB010-216 656,231.0 1,466,388.0 40.0 46.0 6.0 0.91
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Pouni
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KGRB010-277 663,041.0 1,474459.0 12.0 20.0 8.0 1.94
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including 14.0 16.0 2.0 5.26
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(i) Coordinates for southern end of trench
(ii) Lengths shown are core lengths: true widths will be determined with
additional drilling
Drill hole lengths varied from 14 to 56 metres, with inclinations of -45 degrees and azimuths of 340 degrees at Ronguen and 35 degrees at Pouni. A total of 2017 RAB samples and 224 QA/QC samples, and 312 trench samples and 35 QA/QC samples were submitted for assaying. A surface plan showing the drill hole locations is available at www.goldrushresources.ca.
Ongoing Exploration
A contract has been signed for a 54 hole, 5,000 metre RC drilling program on the permits that contain the Ronguen Deposit. This program was scheduled to commence in mid-January but has been delayed for a month because of a mechanical breakdown. Once begun, the program will be operated on a two shift per day basis, thereby accelerating the program.
At the end of the rainy season in November, the Company observed the arrival of up to 500 artisanal gold workers at the Poessin artisanal site on the Ouavousse permit. The Company will be embarking on a program of geological mapping and trenching on the Ouavousse permit in the near future to follow-up on promising rock sampling results of up to 9.245 g/t gold and previous trenching results of 1.58 g/t gold over 5 metres (see Goldrush news release dated February 17, 2009 for complete prior exploration results on the Ouavousse permit). An exploration program consisting of ground geophysics and RC drilling will also commence shortly on the Salbo permit located adjacent to the southern boundary of the permits that contain High River Gold's Bissa Gold Deposit.
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 and 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 11.1% 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.
Contacts:
Goldrush Resources Ltd.
Don Willoughby
VP Corporate Development
604-602-9973
604-681-5910 (FAX)
info@goldrushresources.ca
www.goldrushresources.ca
Renmark Financial Communications Inc.
Maurice Dagenais
(514) 939-3989 or (416) 644-2020
mdagenais@renmarkfinancial.com
Renmark Financial Communications Inc.
Barry Mire
(514) 939-3989 or (416) 644-2020
bmire@renmarkfinancial.com
www.renmarkfinancial.com