Multiple 'Shear Hosted' Gold Mineralised Structures Defined at Golden Touch's Rubik Gold Project, Albania
21.11.2011 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/21/11 -- Golden Touch Resources Corp. ('Golden Touch' or the 'Company') (TSX VENTURE: GOT) (FRANKFURT: 0GT) is pleased to announce that the Company has now completed the geological logging of all the drill core and have received the final assay results from the first round of drilling at its Rubik Gold Project in Albania. Golden Touch's geologists have also reviewed the results, with the view of developing a geological model for the gold mineralization encountered.The geological review has concluded that the first round drilling has identified at least nine shear hosted gold mineralized structures within an area of only 400 by 200 meters (8 hectares) at the Gjazuj Prospect (See Figure 1). All of the mineralized shears encountered are open in all directions and will require further drilling to fully define.
The mineralized structures interpreted comprise steeply dipping (between 55 and 70 degrees) shear zones, which are orientated approximately NW-SE, parallel to the bedding of the host rock.
The host rocks for the shear zones are diabases and basalts that form part of a regional greenstone volcanic belt. The drilling results suggest that the presence of diabase may be important as a host for more significant gold mineralization.
The multiple shear hosted gold deposits of the type interpreted to occur at Gjazuj, are common within greenstone belts.
Greenstone belts worldwide, are keenly sought as prospective targets for gold mineralization, and are known to host numerous significant gold deposits.
The style of mineralization would suggest that the auriferous shears they may well continue to considerable depth offering excellent tonnage potential.
Commenting the review of the drilling results the President of Golden Touch Resources Mr Ken Chapple said 'the geological model interpreted from the first round of drilling is very encouraging. It implies that we are dealing with a significant number of discrete steeply dipping, closely spaced, shear hosted, gold deposits and the fact that this is a known feature of greenstone belts, adds to the potential of the project area.'
To view the map associated with this release, please visit the following link:
http://media3.marketwire.com/docs/GOT2111fig1.pdf.
The first round of drilling involved 26 holes completed to full target depth. The results of the first 18 holes have been reported in earlier announcements. These holes were designed to verify the gold mineralization originally located by drilling in the 1980s. They include numerous gold bearing intersections with the highest assay over one meter being 39 grams/tonne gold (Au).
However, the last eight holes were drilled away from the known mineralisation in order to provide an understanding of the geology of the area. The significant gold intersections within these holes were as follows:
Hole 24: 13 meters @ 0.60 grams/tonne (g/t) gold (Au) from 70 to 83
metres.
Hole 24: 4 meters @ 0.72 g/t Au from 87 to 91 metres.
Hole 24: 1 meter @ 0.68 g/t Au from 66 to 67 metres.
Hole 29: 4 meters @ 2.08 g/t Au from 2 to 6 metres.
Hole 30: 2 meters @ 0.60 g/t Au from 60 to 62 metres.
The first round drilling encountered a total 27 separate intersections with grades in excess of 0.5 grams/tonne Au. The average of these intersections is 4.8 meters at 2.7 grams/tonne Au. The details of these intersections are set out within Appendix 1 below.
The Gjazuj Prospect is only one of six gold in soil and stream sediment anomalous areas (gold anomalies), that have been identified within the Rubik Gold Project Area, over a distance of seven kilometers within the greenstone belt.
Given the geological model developed for Gjazuj, Golden Touch is of the view that the gold anomalies are likely to reflect either the outcrop, or near surface presence, of steeply dipping gold mineralization shear zones. Therefore these anomalies are important drilling targets in order to scale up the size potential for the Rubik Gold Project.
As a result the Company is planning a more thorough investigation of the other five gold surface anomalies.
Robert Murdoch, Chairman 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.
APPENDIX 1:
FIRST ROUND DRILLING PROGRAM: SUMMARY OF SIGNIFICANT DRILL INTERSECTIONS
Gold mineralisation intersections: (averaging above 0.5 g/t Au.)
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HOLE NUMBER FROM (m) TO (m) INTERVAL (m) GOLD GRADE (g/t)
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GZJ 1017 85 88 3 14.60
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GZJ 1014 117 118 1 8.15
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GZJ 1010 40 42 2 8.03
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GZJ 1011 24 30 6 7.02
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GZJ 1016 41 43 2 6.80
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GZJ 1005 63 71 8 5.78
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GZJ 1019 68 69 1 3.71
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GZJ 1019 59 66 7 3.24
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GZJ 1005 90 94 4 3.22
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GZJ 1008 47 64 17 3.03
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GZJ 1012 39 47 8 2.30
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GZJ 1029 2 6 4 2.08
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GZJ 1019 31 33 2 1.55
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GZJ 1012 55 69 14 1.52
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GZJ 1010 60 65 5 1.35
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GZJ 1005 75 77 2 1.13
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GZJ 1013 72 73 1 1.12
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GZJ 1020 88 92 4 0.95
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GZJ 1011 49 54 5 0.80
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GZJ 1024 87 91 4 0.72
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GZJ 1005 99 101 2 0.68
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GZJ 1024 66 67 1 0.68
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GZJ 1016 52 60 8 0.61
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GZJ 1016 63 64 1 0.61
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GZJ 1024 70 83 13 0.60
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GZJ 1030 60 62 2 0.60
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GZJ 1011 34 36 2 0.52
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Contacts:
Golden Touch Resources Corp.
Rob Murdoch
rob@goldentouchresources.com
Golden Touch Resources Corp.
Tom Corcoran, Corporate Development
(604) 248-5175
tom@goldentouchresources.com
www.goldentouchresources.com