Golden Touch Resources Hits More High Grade Gold Intersections: With assays up to 39 g/t Au
20.09.2011 | Marketwire
With assays up to 39 g/t AuVANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/20/11 -- Editors note: There is one video associated with this press release.
Golden Touch Resources Corp. ('Golden Touch' or the 'Company') (TSX VENTURE: GOT) (FRANKFURT: 0GT) is pleased to announce further assays from its initial drilling program on its Rubik Gold Project in Albania.
The assays included herein are from Holes 13 to 20. The samples were assayed by ALS Laboratories in Romania. Holes 16, 17 and 19 appear to have intersected the same gold mineralisation envelope previously encountered in Holes 5, 8, 10, 11 and 12.
Significant Intersections in Holes 16, 17 and 19 are as follows:
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Hole Drill Hole Interval Thickness Grade
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16 41 to 64 metres 23 metres 0.87 g/t Au
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Including 43 to 44 metres 1 metres 12.85 g/t Au
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17 85 to 88 metres 3 metres 14.6 g/t Au
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Including 86 to 87 metres 1 metres 39.4 g/t Au
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19 59 to 69 metres 10 metres 2.65 g/t Au
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Including 59 to 62 metres 3 metres 6.64 g/t Au
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These holes have now evaluated the main gold mineralized envelope, over about 200 metres of strike and the gold intersections in the 8 holes that have intersected the main envelope over an interval averaging 23 metres at 1.8 g/t Au. The envelope is open both along strike and at depth. The results of another 8 holes drilled within the first phase program are awaited and many of these holes test the area along strike to the west and north-west.
The area tested to date covers a strike length over 1,000 metres where previous drilling and recent surface sampling have encountered gold mineralization.
As the results of the first drilling program are received it is now becoming increasing clear that the better gold mineralization is at the top of the gold envelope.
The results at the top of the envelope are as follows:
Hole 5: 9 metres @ 5.1 g/t Au from 63 to 71 metres
Hole 8: 7 metres @ 4.0 g/t Au from 47 to 51 metres
Hole 10: 2 metres @ 8.0 g/t Au from 40 to 42 metres
Hole 11: 6 metres @ 7.0 g/t Au from 24 to 30 metres
(includes 1 metre at 29.8 g/t Au from 28 to 29 metres)
Hole 12: 8 metres @ 2.3 g/t Au from 39 to 47 metres.
Hole 16: 2 metres @ 6.8 g/t Au from 41 to 43 metres
Hole 17: 3 metres @ 14.6 g/t Au from 85 to 88 metres
(includes 1 metre at 39.4 g/t Au from 86-87 metres)
Hole 19: 3 metres @ 6.6 g/t Au from 59 to 62 metres
Average intersection at the top of the envelope: 5 metres @ 5.7 g/t Au.
In addition, a second gold zone has been encountered near the base of the envelope in holes 5, 8.10 and 11. Over those 5 holes, the gold zone averaged 6.0 metres @ 2.2 g/t Au.
Whilst the first phase of drilling is evaluating an area where previous drilling and surface sampling located significant grades of gold mineralization, like most areas where gold occurs, the geometry and structure of the mineralization is complex. Hence, not all the holes drilled in this program will encounter the main gold mineralization envelope.
For example, holes 13, 14, 15 and 20 seemed to have intersected narrower and/or low grade gold mineralization, which we do not know at this time whether it is part of the main gold mineralization envelope or secondary deposits, in parallel or cross cutting structural dilations.
The best results obtained in holes 13, 14, 15 and 20 were as follows:
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Hole Drill hole Interval Thickness Grade
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14 117 to 118 metres 1 metre 8.15 g/t Au
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13 72 to 73 metres 1 metre 1.12 g/t Au
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18 72 to 75 metres 3 metres 0.12 g/t Au
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20 88 to 90 metres 2 metres 1.61 g/t Au
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The President of Golden Touch, Mr. Rob Murdoch, stated that, 'The new assay results continue to provide superior grade over width and the Company continues to be excited about the findings to date. Further samples are currently being prepared for dispatch to the laboratory (more assays pending) and those results should be announced within the next month.'
Mineralogy tests show that the gold occurs with sulphides that have invaded the host shear zone late with in its hydrothermal history and is contained in fine to medium grained variably exposed grains. Preliminary metallurgical test work show that 94.6% of the gold mineralization within the samples tested was recoverable to a rougher cell float concentrate.
Further background information on the gold project can be obtained from a National Instrument 43-101 ('NI 43-101') compliant technical report on the Livadheza Gold Project (EC 1124) prepared by Ian Mathison, Bsc (Hons Geol), MAusIMM, as posted under the Company's profile on SEDAR at www.sedar.com.
Robert Murdoch, President of Golden Touch, a Fellow of the Australasian Institute of Mining and Metallurgy and also a Fellow of the Australian Institute of Geoscientists and hence a qualified person under the meaning of Canadian National Instrument 43-101, is responsible for the technical content of this news release.
On Behalf of the Board of Directors Golden Touch Resources Corp.
Rob Murdoch
Chairman and President
To view the video 'Exclusively Albanian - Intimately Precious' which is associated with this press release, please visit the following link:
http://www.youtube.com/watch?v=U_sEcHFQfgs
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 Touch Resources Corp.
Rob Murdoch, Chairman and President
(604) 248 - 5175
rob@goldentouchresources.com
Golden Touch Resources Corp.
Tom Corcoran
(604) 248 - 5175
tom@goldentouchresources.com
www.goldentouchresources.com