Golden Fame Reports Drill Core Assays From Fourteen Additional Holes at Algun Dia: First Phase of Surface Drilling Completed
12.04.2012 | The Newswire
Vancouver, British Columbia, April 12, 2012: Golden Fame Resources Corp., (TSXV:GFA; 6GF: Frankfurt; "Golden Fame" or the "Company") reports that it has received the results of fourteen additional diamond drill holes from their on-going diamond drill program at the Algun Dia multi-element, epithermal vein prospect located near the city of Guanajuato, in the State of Guanajuato, Mexico.The results of these current holes brings to 20 the total number of holes reported on to date. Drilling at site has completed a total of 41 holes, leaving 21 the number of holes yet to be reported on. The drill program, which has as its objective the determination of the continuity of near-surface copper-silver-gold mineralization which was explored by a 300m-long horizontal adit, and later mined and milled off-site on a small scale, has now been completed. In total, 41 holes have now been drilled, with one hole, GFA005, abandoned for technical reasons, for a total of 10,052 meters of core recovered. The last hole of this first phase of drilling, hole GFAD042, is still underway and not yet reached its final depth so has not been included in the total meterage reported here. The holes were located to follow, along strike to the NW, the continuation of the San Cayetano structure, and to follow it deeper, down its dip. The hole locations were laid out roughly in a grid pattern, and in total cover a surface area of approximately 70,000 square meters. Hole locations can be viewed on the Company's website at www.goldenfameresources.com.
Significant intersections are reported below. Highest values over selected intervals reached 3.60 grams per ton gold; 3.21% copper; and 733 grams per ton silver. Not all anomalous values coexist throughout the metal-bearing intersections, however, with higher grades of copper, silver, and gold commonly occurring with less anomalous values of the other two metals. A complete listing of geochemical values from all assay intervals from each individual hole, along with the location, strike and azimuth of the hole, is listed on the company's website at www.goldenfameresources.com.
Selected Assay Intervals and Results
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|Hole |From (m)|To (m)|Length (m)|Au g/t|Ag g/t|Cu% |
|------------------------------------------------------|
|GFAD008 |120.00 |123.00|3.00 |2.28 |42.92 |0.67|
|------------------------------------------------------|
|Includes|121.10 |123.00|1.90 |3.60 |67.41 |1.01|
|------------------------------------------------------|
|GFAD009 |50.00 |51.00 |1.00 |0.61 |75.90 |0.28|
|------------------------------------------------------|
|GFAD010 |77.00 |77.50 |0.50 |3.08 |7.90 |0.29|
|------------------------------------------------------|
|GFAD011 |61.40 |62.50 |1.10 |1.45 |54.04 |0.85|
|------------------------------------------------------|
| |112.00 |121.00|9.00 |1.36 |1.50 |0.05|
|------------------------------------------------------|
|Includes|114.00 |116.90|2.90 |2.70 |2.06 |0.11|
|------------------------------------------------------|
|GFAD020 |110.50 |112.00|1.50 |0.09 |498.10|0.10|
|------------------------------------------------------|
|Includes|111.00 |112.00|1.00 |0.13 |733.00|0.14|
|------------------------------------------------------|
|GFAD026 |149.00 |150.30|1.30 |0.03 |125.69|1.95|
|------------------------------------------------------|
|GFAD027 |106.00 |107.00|1.00 |0.05 |180.60|0.99|
|------------------------------------------------------|
| |184.50 |185.05|0.55 |0.38 |150.00|1.71|
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Holes for which assay results are pending include GFAD016, GFAD017, GFAD019, GFAD022, GFAD024, GFAD025, and GFAD028 through to GFAD042 (inc).
Results of the first three holes were reported on January 12, 2012, with an additional three holes reported on in a press release dated February 9, 2012. Both press releases reported on significant, although erratically distributed intersections of copper-silver-gold mineralization. The present results show similar characteristics as those reported on earlier. While nearly all holes intersected highly-anomalous results, and the hosting vein/structure, called the San Cayetano vein, maintains a width of approximately 10 meters or more in most holes, the highly-brecciated, altered, and multi-phase San Cayetano vein/structure is not mineralized throughout its true width. The tenor of the metal values fluctuates from hole to hole.
Future Work
A significant number of assays have yet to be returned from the Algun Dia drilling program. Once all assays have been returned, geological interpretations will be completed and follow-up work determined. For a detailed description of anticipated potential future area of work, depending on the results of the geological interpretations which will follow receipt of all outstanding assays, please refer to the press release dated February 9, 2012.
Geochemical sample preparation and analyses of drill core are being performed by ALS Chemex Laboratories located in Guadalajara, Mexico and North Vancouver. Strict sample handling and sample QAQC protocols have been implemented. As part of an ongoing internal QAQC review a few standards and blanks are at the edge of accepted tolerance. Golden Fame staff are reviewing the results and planning an appropriate extended check assay program.
Lawrence Dick, Ph.D., P.Geo, a Director of the Company and a Qualified Person as defined by NI 43-101, prepared this news release and has verified the data disclosed.
About Golden Fame Resources Corp.
The focus of Golden Fame is to explore historically-productive gold, silver and copper properties and advanced exploration prospects. We believe that prospects identified by Golden Fame will have higher potential to become economically-viable deposits through the application of sound exploration principles, geological imagination and interpretation through years of experience and discovery by our principals, and adequate financing. The Company is well funded, having completed a $7.1 million financing in June 2011.
For further information about Golden Fame Resources and this news release, contact Steven Green, VP Exploration, at 604.688.9588 and visit www.goldenfameresources.com.
On Behalf of the Board of Directors, Golden Fame Resources Corp.
"Graham M. Clark Jr."
Graham M. Clark Jr., President, CEO and Director
Forward-looking information
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation), including without limitation statements as to the 10,000 meter first phase drill program consisting of at least 20 holes. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the ability to complete the drilling program as currently contemplated and the receipt of successful results as drilling proceeds.