Goldrush Intersects 3.35 g/t Gold Over 13 Metres and 2.03 g/t Gold Over 23 Metres in Fill-In Drilling at Ronguen Gold Deposit, Burkina Faso
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/26/12 -- Goldrush Resources Ltd. (TSX VENTURE: GOD)(OTCQX: GDRRF) ('Goldrush' or the 'Company') is pleased to report assay results from an additional 19 reverse circulation ('RC') holes of a 116 hole (98 RC and 18 core) fill-in drilling program on the Company's Ronguen Gold Deposit in Burkina Faso, West Africa. Highlights of the RC drilling results include:
-- 3.35 g/t Au over 13 metres, in hole KGRR11-216
-- 2.03 g/t Au over 23 metres, open at the end of the hole, in hole KGRR11-
213
-- 2.52 g/t Au over 12 metres, open at the end of the hole, in hole KGRR11-
234
-- 2.43 g/t Au over 11 metres, in hole KGRR11-217
-- 2.39 g/t Au over 9 metres, in hole KGRR11-225
-- 1.72 g/t Au over 11 metres, open at the end of the hole, in hole KGRR11-
233
Holes -213 to -217 were drilled on the G1 grid, the eastern of two overlapping grids at the Ronguen deposit, holes -218 to -223, -225 to -227 and -231 -234 were located on the western (G2) grid and hole -224 was drilled on the South Zone which is located on the eastern grid.
Holes -225, -226 and -227 were drilled on section 860E of the western grid with hole -225 intersecting 2.39 g/t Au over 9 metres. The three holes on this section were drilled approximately 80 metres east of hole KGRR11-228 that intersected 8.77 g/t Au over 23 metres and 1.19 g/t Au over 12 metres.
Hole -213, which intersected 2.03 g/t Au over 23 metres was drilled on section 860E of the eastern grid, and hole -216, which intersected 3.35 g/t Au over 13 metres, was drilled on the adjacent section 800E. These two holes were collared 200 and 260 metres, respectively, east of hole -228.
Holes -232, -233 and -234 were drilled on section 700E of the western grid with hole -233 intersecting 1.72 g/t Au over 11 metres and 3.0 g/t Au over 4 metres, and hole -234, drilled 24 metres further north, intersecting 2.52 g/t AU over 12 metres. The three holes on this section were drilled approximately 80 metres west of hole KGRR11-228.
Hole -217, located on section 1140E of the eastern (G1) grid intersected four gold zones, including 2.43 g/t Au over 11 metres. This hole was drilled approximately 40 metres northeast of hole KGRR11-202 that intersected 3.33 g/t Au over 24 metres.
Len Brownlie, President and CEO of Goldrush, noted: 'With the new results from the closer spaced reverse circulation drill holes and from the core provided by the diamond drill holes, a clearer picture is emerging of the detailed structural controls of the gold mineralization. In particular, the importance of the cross faulting to the higher grade intersections is being evaluated to act as a guide to localizing and defining higher grade shoots within the main zone of mineralization.'
A surface plan showing the drill hole locations is available at http://goldrushresources.ca/properties/ronguen/.
Assay Results
Significant intersections are noted above and in the following table:
---------------------------------------------------------------------------
Inc-
Sta- Azi- lina- Gold Vert-
Line tion Grid muth tion Total Inter- Grade ical
(Grid (Grid (deg- (deg- Depth From To val(2) (g/ Depth
HOLE ID Co-ord) Co-ord) rees) rees) (m) (m) (m) (m) Au/t) (1)(m)
---------------------------------------------------------------------------
KGRR11-213 860 10 G1 0 -90 95 72 95 23 2.03 83.5(i)
---------------------------------------------------------------------------
KGRR11-214 800 25 G1 0 -90 85 26 31 5 2.07 28.5
---------------------------------------------------------------------------
and 48 50 2 7.27 49.0
---------------------------------------------------------------------------
KGRR11-215 800 40 G1 0 -90 70 7 23 16 0.79 15.0
---------------------------------------------------------------------------
KGRR11-216 800 50 G1 340 -55 43 0 13 13 3.35 5.3
---------------------------------------------------------------------------
and 37 38 1 2.98 30.7
---------------------------------------------------------------------------
KGRR11-217 1140 -55 G1 340 -55 95 6 17 11 2.43 9.4
---------------------------------------------------------------------------
and 31 36 5 1.44 27.4
---------------------------------------------------------------------------
and 41 43 2 2.61 34.4
---------------------------------------------------------------------------
and 83 85 2 1.46 68.8
---------------------------------------------------------------------------
KGRR11-221 220 -10 G2 24 -60 60 40 44 4 2.12 36.4
---------------------------------------------------------------------------
and 47 48 1 1.53 41.1
---------------------------------------------------------------------------
KGRR11-223 300 -45 G2 24 -60 72 52 58 6 0.86 47.6
---------------------------------------------------------------------------
KGRR11-225 860 65 G2 24 -60 105 55 64 9 2.39 51.5
---------------------------------------------------------------------------
KGRR11-226 860 90 G2 24 -60 78 35 42 7 1.51 33.3
---------------------------------------------------------------------------
and 56 59 3 1.68 49.8
---------------------------------------------------------------------------
KGRR11-227 860 115 G2 24 -60 55 22 28 6 1.93 21.7
---------------------------------------------------------------------------
KGRR11-231 820 25 G2 24 -60 113 74 81 7 0.52 67.1
---------------------------------------------------------------------------
KGRR11-232 700 50 G2 24 -60 101 53 56 3 1.62 47.2
---------------------------------------------------------------------------
KGRR11-233 700 75 G2 24 -60 90 34 38 4 3.00 31.2
---------------------------------------------------------------------------
and 71 73 2 1.47 62.4
---------------------------------------------------------------------------
and 79 90 11 1.72 73.1(i)
---------------------------------------------------------------------------
KGRR11-234 700 99 G2 24 -60 66 18 21 3 1.82 16.9
---------------------------------------------------------------------------
and 38 42 4 0.94 34.6
---------------------------------------------------------------------------
and 54 66 12 2.52 52(i)
---------------------------------------------------------------------------
(1) 'Vertical depth' is the calculated depth to the centre of the
intersection.
(2) True widths are determined to be 90 to 95% of reported mineralized
intervals except for the 3 holes drilled vertically where true width is
approximately 85% of reported mineralized intervals.
(i) Mineralization open at end of hole.
Assays from holes KGRR11-228, -229 and -230 were announced on January 18 and have been excluded from the above table. Three holes (KGRR11-218, -220 and -224) not included in the above table of significant intersections did contain 1 to 2 metre thick sections of anomalous gold at or above a cut-off grade of 0.5 g/t Au. Holes -219 and -222 were barren.
Drill hole lengths varied from 40 to 113 metres and all holes were drilled at inclinations of -55 to -60 degrees, with the exception of holes KGRR11-213 to -215 which were drilled vertically because of the local topography. A total of 1,495 metres was drilled in the 19 RC holes, which were continuously sampled at one metre intervals for assaying.
Ronguen Exploration Plan
A total of 98 RC holes totaling 7,793 metres and 18 core holes totaling 2,347 metres have been completed in the fall 2011 drilling program on the Ronguen gold deposit. A total of 1,325 linear metres in 13 trenches is nearing completion. The samples from the remaining 16 RC and 18 core holes have been delivered to the assay lab and results will be announced when received. Following receipt of all assays, results will be interpreted and incorporated into a three dimensional model for preparation of the updated resource estimate.
Ronguen Deposit Mineralization
The Ronguen gold deposit is located within the northeastern part of the highly prospective Birimian age Boromo greenstone belt in Burkina Faso. The local geology at Ronguen is dominated by an east northeast ('ENE') trending metasedimentary sequence consisting of interlayered siltstone, mudstone and minor conglomerates that are intruded by plugs, and narrow dykes and sills of gabbroic composition. The Ronguen mineralized zone is located in the structural hanging wall of a major ENE thrust fault which recorded a tectonic transport direction towards the north. The mineralized deformation corridor represents a major ENE trending reverse fault zone, dipping moderately towards the south. Gold mineralization is found in both metasedimentary and mafic intrusive rocks. The gold mineralization is associated with quartz-carbonate veins/veinlets and with sulphides occurring as disseminations and patches, and in veinlets. Two sets of gold-bearing quartz veins are developed: subvertical shear veins parallel to the shear zone foliation and to the shear zone boundaries, and subhorizontal extension veins. Small quartz stockworks are present and represent a part of the gold mineralization.
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 were provided in the Company's News Release #2010-13, dated October 25, 2010.
The SGS laboratory in Ouagadougou, Burkina Faso was used for sample analysis. Samples are assayed using standard fire assay techniques on a 50 gram charge with an atomic absorption finish. For its internal control, SGS 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 7.5% of the total samples submitted.
The RC drilling was contracted to Forages Technic-Eau/Burkina sarl 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 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 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.
About Burkina Faso: Burkina Faso is a politically and economically stable West African democracy that relies on farming and mining as it primary sources of foreign exchange. Burkina Faso saw gold production double from 2008 to 2010 and is currently the fifth largest gold-producing country in Africa. Control Risks, a global consultancy specializing in political, security and integrity risk, ranked Burkina Faso #3 in their 2011 World Risk Survey - countries with least risk. The World Risk Survey asked respondents to rank their perception of risk in the following categories: financial risk, sovereign risk, land access, green tape, land claims, red tape, social risk, infrastructure, civil unrest, natural disasters and labour relations.
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
www.equicomgroup.com