Gold Reach Announces Drilling has Started at the Ootsa Property
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/27/13 -- Gold Reach Resources Ltd. (TSX VENTURE: GRV) (Gold Reach and/or the Company) is pleased to announce that drilling has started at the company's 100% owned Ootsa Property, where Gold Reach is advancing a large copper gold and molybdenum deposit adjacent to the operating Huckleberry Mine. The Ootsa Property is located in Northwest British Columbia and is road accessible.
One drill rig has been mobilized to the Ox deposit on the Ootsa Property where initial drilling will focus on delineating a zone of higher grade near surface mineralization that forms the core of the deposit. The potential to expand the Ox mineralization, and the near surface high grade zone to the east, will also be tested. The exploration program will be accelerated in the next few weeks to cover both the Ox and Seel deposits and the surrounding areas.
Drilling will initially focus on infilling and expanding three areas of higher grade near-surface mineralization with open pit potential at Ox, East Seel, and West Seel. The goal of this infill and expansion drilling will be to increase resource categories and tonnage in these potential open pit targets ahead of economic studies later in the year. Drilling will also step out from the main zones and test several exploration targets within a 4 kilometre radius of known resources. Line cutting for geophysical surveying will commence shortly.
For more information please see our website at http://goldreachresources.com. All of our recent news releases can be viewed on the Company's website at http://goldreachresources.com/news/2013/.
About Gold Reach Resources
Gold Reach Resources Ltd. has made an important new and strategic Copper Gold Molybdenum discovery on its 100% held Ootsa Property located adjacent to the 16,000 tonne per day Huckleberry Mine currently producing Cu Au and Mo in central BC.
Gold Reach's Ootsa property is an advanced stage exploration project containing the Seel and Ox porphyry systems both with compliant resource estimates open for expansion. The Company has recently added the discovery of the West Seel Porphyry where drill hole S12-118 encountered 128 metres grading 1.01% Cu Eq. consisting of 0.43% Cu, 0.33 g/t Au, 0.076% Mo and 4.76 g/t Ag within a much larger interval of 537 metres grading 0.65% Cu Eq. consisting of 0.27% Cu, 0.19 g/t Au, 0.055% Mo, and 2.69 g/t Ag. The Seel deposit contains 67.8 million tonnes of indicated resources and 410.9 million tonnes of inferred resources at a 0.2% copper equivalent cut off. The Ox deposit contains 52.65 million tonnes of inferred resources at a 0.2% copper equivalent cut off.
Dr. Shane Ebert, P. Geo. is the Qualified Person responsible for the preparation of this news release.
Shane Ebert, President/Director
Safe Harbour Statement: The Company relies upon litigation protection for "forward-looking statements". The Company undertakes no obligation to update these forward- looking statements in the managements beliefs, estimates obligations or other factors should change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Gold Reach Resources Ltd.
Shane Ebert
President/Director
604-718-5454 or Direct Line: 250 964-2699
Toll Free: 888-500-4587
http://goldreachresources.com
B&D Capital Partners
Don Mosher
604-685-6465
Don@bdcapital.com