Goldrush Announces Exploration Program for Newly Acquired Burkina Faso Permits
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/15/11 -- Goldrush Resources Ltd. (TSX VENTURE: GOD) (the 'Company') is pleased to announce its planned exploration program for its three newly acquired permits in Burkina Faso, West Africa (see Goldrush news release 2011-2, February 2, 2011).
The adjacent Nakiambouri (225 km(2)) and Gonaba-Est (80 km(2)) permits are located in south-eastern Burkina Faso, approximately 55 kilometers south of the town of Fada N'Gourma. The Gonaba-Est permit is contiguous with the north boundary of the Mt. Isa Metals Limited Yactibo Project that hosts a new gold discovery approximately 25 kilometres to the south. A recent press release (January 20, 2011) from Mt. Isa provided the information that 20 of 21 widely spaced, shallow Reverse Circulation ('RC') holes over the entire 3,500 metre length of exposed artisanal workings had an average lode intersection of 5.66g Au/t gold over 4.6 metres. Significant high grade intersections reported include 14.01g Au/t over 8 metres, 10.11g Au/t over 8 metres, 24.62g Au/t over 6 metres and 13.88g Au/t over 4 metres.
These intersections are reported to occur within a granodiorite host rock, possibly similar to the granitoid-related gold occurrences of the substantial Ahafo and Chirano Mines in Ghana's Sefwi Belt to the south. Initial exploration by Goldrush on its Gonaba-Est and Nakiambouri permits has mapped abundant granodiorite and associated quartz veining, and on one of the Nakiambouri artisanal sites visible gold was identified in quartz veining in the granodiorite host rocks.
The Goldrush permits host a number of active, long-term artisanal mining sites including the two kilometre long 'Hong Kong' site which was worked by over 100 orpailleurs since 2002 and the 'PK-60' site where 200 gold workers are currently active, both on the Gonaba-Est permit.
(1)Readers are cautioned that gold mineralization that occurs on Mt. Isa's permits may not extend onto the Company's permits, and that the foregoing information on the Nabanga Permit is as provided by the Mt. Isa Metals Limited January 20, 2011 press release.
The similarity of the geological environment of the Nakiambouri and Gonaba-Est permits to the Mt Isa discovery and other gold occurrences in West Africa have led Goldrush's exploration team to prioritize exploration on these two permits. A program of detailed mapping and rock sampling, followed by ground geophysics, including magnetometer and gradient array induced polarization/resistivity surveys is to be initiated immediately, with RC drilling to follow as soon as possible thereafter.
The 180 km(2) Liki permit is located in north central Burkina Faso along the Bouroum-Yalgo Greenstone Belt that hosts the Taparko Gold Mine of High River Gold Mines Ltd. (located approximately 80 kilometers to the southwest) and the Inata Gold Mine of Avocet Mining PLC (located approximately 55 kilometers to the northwest). On the Liki permit, artisanal miners are extracting gold from surface eluvium and from quartz veins hosted by granitic rocks, mafic volcanics and volcanosediments over a strike length of at least 400 metres. From 60 rock grab samples taken from the main gold workings, 13 samples (21%) returned anomalous to significant gold mineralization to a maximum of 19.15 g Au/t.
Goldrush will begin a 1,000 metre reverse circulation drill program at the main Liki artisanal site as part of the 5,000 metre drill program scheduled to begin the third week of February on targets located on the Kongoussi 1 and Tikare permits, which together host the 249,000 ounce inferred gold resource (5.9 million tonnes at a grade of 1.31 g Au/t) at the Company's Ronguen Deposit.
Quality Assurance and Quality Control
Goldrush maintains a rigorous quality control program involving the use of certified standards from an accredited Canadian laboratory, the insertion of blanks, and the use of repeat assaying. The details of Goldrush's quality control program were provided in the Company's News Releases #2010-13, dated October 25, 2010 and #2011-2, dated February 2, 2011.
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
Equicom Group
Joe Racanelli
(416) 815-0700 Ext. 243
jracanelli@equicomgroup.com
Equicom Group
Babak Pedram
(416) 815-0700 Ext. 264
bpedram@equicomgroup.com
www.equicomgroup.com