Golden Reign Resources Drills 12.0 Metres of 16.37 g/t Gold and 23.45 g/t Silver at San Albino-Murra Property, Nicaragua
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/15/11 -- Golden Reign Resources Ltd. (the "Company" or "Golden Reign") (TSX VENTURE: GRR) is pleased to announce the results of eleven diamond drill holes from the ongoing 2011 exploration program at the San Albino-Murra Project, Nicaragua. To date, the Company has completed 7,289 metres of diamond drilling in 27 holes, with drilling expected to continue throughout 2011.
The 2011 drill program was designed to expand upon the highly successful 2010 drill program, further defining the strike and down dip extent of mineralized structures, including the San Albino and Arras zones. Highlights include:
Significantly, drill holes SA11-18 and SA11-20 demonstrate the down dip continuity of the Arras mineralization, which underlies the San Albino zone. The Arras prospect is situated some 400 metres to the east. These results are comparable to those of drill hole SA10-06, located roughly 250 metres along strike to the north, which intersected the Arras zone returning 4.0 metres of 13.67 g/t gold and 31.41 g/t silver (see news release dated November 1, 2010). The continuity in strike and width of the Arras mineralized zone is significant. Generally, high-grade gold vein type deposits of this nature are subject to structural deformation, pinching and swelling, which reduces the size potential of these deposits.
Drilling to date indicates a down dip extension of approximately 600 metres with a vertical depth of approximately 200 metres and also demonstrates a continuity of mineralization along strike of approximately 300 metres. Work to establish a 600 metre strike length is in process. The mineralized zones remain open along strike in both directions and at depth.
Drilling is designed to test the entire area between the San Albino and Arras prospects which represents approximately 2 square kilometres within the highly prospective 24 square kilometre Southern (San Albino) District of the Property. Initially, the 2011 diamond drill program consisted of 40 to 60 holes of definition drilling, totaling between 6,000 to 10,000 metres across a series of five fences of drill holes. After several very encouraging drill holes, the Company redesigned the program, which now consists of at least 70 drill holes totaling approximately 16,000 metres, to be drilled in six fences of drill holes located approximately 100 metres apart with holes spaced approximately 50 metres apart.
The following table presents a summary of the current eleven drill holes results:
Quality Assurance
The Company has implemented a rigorous QA/QC program using best industry practices, involving insertion of appropriate blanks and duplicates. All drill holes are sampled on at most a 1.0 metre interval within the mineralized zones, with drill core split on site and one half then being transported to the Inspectorate America Corporation ("Inspectorate"), a certified USA based laboratory (UKAS, NAMAS, STERLAB, ISO 17025), preparation facility in Managua. The samples are then transferred to Inspectorate's analytical laboratory in Richmond, British Columbia, Canada. Duplicate samples have also been sent to Acme Analytical Laboratories Ltd. in Vancouver, British Columbia, Canada, for comparative analysis.
Qualified Person
John M. Kowalchuk, P.Geo., a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release.
On behalf of the Board,
Kim Evans, CGA, President & CEO
About Golden Reign:
Golden Reign Resources Ltd. is a publicly listed (TSX VENTURE: GRR) mineral exploration company engaged in exploring the San Albino-Murra Property located in Nueva Segovia, Nicaragua.
Nicaragua, a mining-friendly jurisdiction, is situated in the Central American Gold Belt, which extends from Costa Rica in the south to Guatemala in the north. Within this prolific gold belt, estimates of historical production total more than 20 million ounces.
For additional information please visit our website at and SEDAR .
To view the map associated with this News Release, please click the following link: .
Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management's best judgent as of the date hereof, based on information currently available.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contacts:
Golden Reign Resources Ltd.
Kim Evans, CGA
President & CEO
(604) 685-4655 or Toll Free: 1-888-685-4655
(604) 685-4675 (FAX)
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Datum: 15.09.2011 - 20:31 Uhr
Sprache: Deutsch
News-ID 66558
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VANCOUVER, BRITISH COLUMBIA
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Mining & Metals
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