Goldrush to Begin Exploration Program on Pompoi Permit, Contiguous With Roxgold's Yaramoko Project in Burkina Faso, West Africa
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/20/11 -- Goldrush Resources Ltd. (TSX VENTURE: GOD)(OTCQX: GDRRF) ('Goldrush' or the 'Company') announces that a Phase 1 exploration program will begin in early November on the Company's Pompoi permit, contiguous with and to the east of Roxgold Inc.'s ('Roxgold') Yaramoko permit. The program will include geological mapping, prospecting and close spaced soil sampling and will assist in the definition of targets for future exploratory drilling. This program is a follow-up to the recent discovery of two gold anomalies that were detected in reconnaissance scale (400 by 200 metre) soil sampling (see Goldrush news release dated September 7, 2011 for full details).
The soil sampling partly defined two anomalies of greater than 13 ppb gold which contain eleven and eight anomalous gold values respectively, with individual high values up to 504 and 209 ppb gold: (i) in the southwest corner of the permit and (ii) in the northwest to north central area of the permit.
The southwest anomaly has been traced over a north-south distance of 1,600 metres and an east-west distance of 1,400 metres to the common boundary of Pompoi and Roxgold's Yaramoko permit, where it is still open. This anomalous area is 2.9 kilometres due east of Roxgold's recent Baggasi Central '55 Zone' high grade gold discovery.
The northwest anomaly spans a north-south distance of 2,000 metres and an east-west distance of 1,400 metres, with the most westerly portion approximately two kilometres east of the common Pompei-Yaramoko permit boundary, and appears to be orientated in a north-south direction. Closer spaced data is required to better define the orientation of the anomalous trend or trends.
In addition, from the wide spaced (400 by 200 metre sampling), eight separate anomalies, each of which is composed of two contiguous samples that could represent elevated bedrock gold mineralization with strike lengths of up to 800 metres, have been documented. Also, a single soil sample assaying 903 ppb gold was found adjacent to the Pompoi-Yaramoko permit boundary, approximately 700 metres north of Goldrush's southwest gold-in-soil anomaly.
An excerpt from a July 2010 Technical Report on the Yaramoko Permit provided on the Roxgold website, describes the mineralization on the Yaramoko permit as a series of sub parallel quartz veins hosted in northwest trending shears. A granodioritic to tonalitic body has intruded the volcanic country rocks, and the resulting veins and shears related to this event cut both the volcanics and the intrusive on its eastern flank. Artisanal workings generally line up along this south southeast trending shearing, with these activities being conducted at a high angle to the shear. An interpretation of this description suggests that the mineralized structures may trend easterly onto the Pompoi permit although readers are cautioned that there is no data to confirm that mineralization on the Yaramoko permit extends onto the Pompoi permit.
According to Roxgold's news releases dated October 4 and 19, 2011, diamond drilling on the '55 Zone', Bagassi Central area, 2.9 kilometres from Goldrush's Pompoi permit western boundary, produced gold intersections of 53.6 g/t Au over 8 metres in hole YMR-11-DDH-021, 47.4 g/t Au over 8.5 metres in hole YMR-11-DDH-018, and 37.7 g/t Au over 16 metres in hole YMR-11-DDH-024. Deeper holes drilled on the eastern edge of the 55 Zone encountered 31.9 g/t Au over 5 metres in hole YMR-11-DDH032 and 48.46 g/t Au over 2 metres in hole YMR-11-DDH-034. Roxgold's current interpretation of the drilling results has the series of gold-bearing structures from north to south occasionally overlapping along strike in an east to west direction, and perhaps plunging to the east.
In addition to the extensions of the easterly trending structures containing the Bagassi Central gold mineralization on the Yaramoko permit, an interpretation of the regional airborne magnetometer survey which covers the Pompoi permit suggests the occurrence of a structural regime of northeast trending faults and/or shear zones and folding (in the northern parts of the permit) similar to that seen at Semafo Inc.'s Mana Mine.
Location maps showing Goldrush's soil sampling results, regional geophysics and proximity to the Yaramoko/Bagassi Central drilling area are available at www.goldrushresources.ca.
Mr. Driffield Cameron, P. Geo., Vice President, Exploration 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.
About Goldrush: Goldrush is a Canadian mineral exploration company which has successfully focused on gold exploration in West Africa, where the company has discovered, and is currently expanding and defining the 249,000 ounce (inferred resource of 5.9 million tones at a grade of 1.31 g/t Au) Ronguen gold deposit in Burkina Faso.
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
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
info@goldrushresources.ca
www.goldrushresources.ca
Patrick Piette
(416) 815-0700 Ext. 267
ppiette@equicomgroup.com
Joe Racanelli
(416) 815-0700 Ext. 243
jracanelli@equicomgroup.com