Goldrush Resources Ltd.: RAB Drilling at Ronguen Gold Deposit Extends Gold Deposit to North With Intersections of Up to 3.92g/t Au Over 10 Metres
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/11/11 -- Goldrush Resources Ltd. (TSX VENTURE: GOD) (the 'Company') President and CEO Len Brownlie announced that drilling in the Ronguen North Zone (previously called the supergene enriched zone) has substantially expanded the footprint of this recently discovered mineralized area that is contiguous with, and to the north of, the Ronguen Main Zone, by over 5.7 hectares.
The drill program consisted of 85 shallow rotary air blast ('RAB') drill holes in 13 drill fences totaling 3,271 metres completed during February, 2011 on the Company's Kongoussi and Tikare permits in Burkina Faso, West Africa that host Goldrush's 249,000 ounce Ronguen gold deposit (inferred resource of 5.9 million tonnes at a grade of 1.31 g/t Au). The RAB program was primarily designed to test lateral extensions of the Ronguen gold deposit and to delineate regional drill targets for the Company's 9,660 metre reverse circulation drill program which began on March 16.
The RAB drilling program successfully extended the mineralization of the Ronguen deposit up to 180 metres north (between lines 900E and 1,220E) of the east northeasterly trending gold zone as 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) on Line 970E (see Goldrush news releases dated October 25 and November 17, 2010 for full details). The new zone remains open laterally and to depth. Based on the encouraging results of the RAB program, additional RC drill hole locations have been planned on this new 'North Zone' with target depths of up to 80 metres to enable the North Zone gold mineralization to be easily incorporated into an upgraded 2011 Ronguen resource estimate.
Assay results returned the following significant composites:
-- 3.92 g/t Au over 10 metres (including 9.38 g/t Au over 4 metres) in hole
KRB11-0341
-- 2.86 g/t Au over 6 metres in hole KGRB11-0338
-- 0.62 g/t Au over 12 metres in hole KGRB11-0329
-- 1.28 g/t Au over 4 metres in hole KGRB11-0331
-- 1.15 g/t Au over 4 metres in hole KGRB11-0336
Comparison of the significant RAB holes with induced polarization (IP) chargeability and resistivity surveying results show that gold mineralized holes are associated with strong chargeable and resistive anomalies at the contacts of metasediments and diorites, and suggest that additional gold zones may exist at other metasediment-diorite contact zones identified with IP anomalies surrounding the main Ronguen deposit area.
Assay Results
Significant assay results from the RAB drilling program are noted above and in the following table:
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Line Station
(Grid (Grid Co- Intersection
Hole ID Co-ord) ord) From To (1) Gold Grade
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(m) (m) (m) (g Au/t)
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KGRB11-0327 1220E 175N 0 2 2 0.67
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and 16 18 2 0.51
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KGRB11-0329 1060E 85N 26 38 12 0.62
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KGRB11-0331 1060E 135N 4 8 4 1.28 VG(2)
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KGRB11-0332 1060E 157.5N 0 2 2 0.85
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and 24 26 2 0.72
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KGRB11-0336 900E 125N 34 38 4 1.15
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KGRB11-0337 900E 150N 24 26 2 0.66
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KGRB11-0338 900E 175N 12 18 6 2.86 VG
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KGRB11-0339A 900E 190.3N 6 10 4 0.79
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KGRB11-0341 1220E 50N 0 10 10 3.92
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including 0 4 4 9.38
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KGRB11-0342 1220E 73.9N 0 4 4 0.54
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KGRB11-0343A 1220E 85N 0 2 2 0.54
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(1) True widths are determined to be 90 to 95% of core intervals.
(2) VG: Visible gold identified in the intersection
The rotary air blast drill hole lengths varied from 7 to 50 metres, averaging 36 metres on the easterly Grid 1 and averaging 46 metres on the westerly Grid 2, with inclinations of -45 degrees and azimuths of N340 degrees (Grid 1) or N024 degrees (Grid 2). RAB drilling is an inexpensive drilling method for obtaining relatively shallow samples of bedrock for analysis to help determine if the area being drilled warrants a further, more expensive and more definitive drilling technique such as reverse circulation or diamond drilling (core). A total of 1,641 RAB samples and 182 QA/QC samples were submitted for assaying.
Ongoing Exploration
As at April 6, Goldrush has completed 3,900 metres of a planned 9,660 metre RC drilling program that includes 3,440 metres on the Ronguen gold deposit; 2,220 metres on regional targets on the permits that host the Ronguen Deposit; 1,000 metres on the newly acquired Liki permit; and 3,000 metres on the highly prospective Nakiambouri and Gonaba Est permits. Drilling is being conducted on a two shift per day basis, thereby accelerating the program and is averaging 178 metres per 24 hours.
Quality Assurance/Quality Control
Goldrush maintains a rigorous quality control program involving the use of certified standards from an accredited Canadian laboratory, inserted blanks, and the use of repeat assays. Details of Goldrush's quality control program are 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 11.0% of the total samples submitted.
The drilling was contracted to a subsidiary of Forage Technic-Eau based in Ouagadougou, Burkina Faso.
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 contained 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, where the company has discovered, and is currently expanding and defining the 249,000 ounce Ronguen gold deposit in Burkina Faso.
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
The Equicom Group
Babak Pedram
(416) 815-0700 Ext. 264
bpedram@equicomgroup.com
The Equicom Group
Joe Racanelli
(416) 815-0700 Ext. 243
jracanelli@equicomgroup.com
www.equicomgroup.com