Tell us what you think about the new Article Page. Send us feedback
Goldrea Resources Corp.: Underground Drifting at Golden Rose Encounters High Grade Gold
Related Quotes
| Symbol | Price | Change |
|---|---|---|
| GOR.V | 0.11 | 0.00 |
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 09/28/09) - Goldrea Resources Corp. (TSX-V:GOR - News)(PINK SHEETS:GORAF - News)(Frankfurt:GOJ - News) reports that underground development continues to progress extremely well at the Golden Rose Mine in Shandong Province, China.
As of September 12, 2009, a total of 4,316 meters (14,160 feet) of lateral development has been completed on five levels from the 235 meter (771 feet) deep shaft.
Significant gold has been encountered in this work, summarized as follows:
�
-------------------------------------------------------------------
3 Level Total Sample Length Assay g/t Assay oz/t
-------------------------------------------------------------------
(m) (ft)
-------------------------------------------------------------------
West Drift 10.0 32.8 4.12 0.132
West Drift, 14.0 45.9 5.67 0.182
including 2.0 6.6 14.0 0.448
-------------------------------------------------------------------
East Drift, 10.0 32.8 6.46 0.207
including 1.8 5.9 18.25 0.584
-------------------------------------------------------------------
West #8 Crosscut 6.0 19.7 2.68 0.086
-------------------------------------------------------------------
West #12 Crosscut 13.5 44.3 3.66 0.117
-------------------------------------------------------------------
Note: oz/t is troy ounces per short ton (2,000 lbs.); all units are metric
unless specified otherwise. Assays were done in the Daye Mine Laboratory by
standard Chinese methods. Goldrea has verified that these methods agree
closely with checks run by Canadian assay labs.
Stopes are currently under development from 4 Level. Stoping will begin in the 1201 stope this month and in the 1202 stope early next month. Development has begun in the 1203 stope.
The surface stockpile now contains over 19,700 tons of material to be part of a 20,000 ton batch that will be processed in the Daye Mill in mid-October.
The Company is in on-going discussions with several interested Chinese gold mining companies concerning potential joint ventures or direct investments in Goldrea to further advance the underground development and surface exploration in the Golden Rose resource area. Goldrea has a 90% interest in the Daye/Goldrea 2 project (Golden Rose area) with the right to earn a 65% interest in the Ludi lease to the south. Widely spaced exploration drilling is continuing on the extremities of the Ludi lease.
This news release was reviewed by Norm Tribe, P.Eng., a Qualified Person recognized under NI-43-101.
GOLDREA RESOURCES CORP.
Larry W. Reaugh, President and Chief Executive Officer
This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Contacts:
Goldrea Resources Corp.
Larry W. Reaugh
President and Chief Executive Officer
604-531-9639
604-531-9634 (FAX)
info@goldrea.com
www.goldrea.com
Add Alert