Gold Finder Explorations Ltd. Intersects Two High Grade Gold Zones at Golden Rose
12.01.2011 | Marketwire
5.10 Meters Averaging 15.62 gpt Au, and 2.60 Meters Averaging 70.05 gpt Au Including 0.30 Meters of 543.0 gpt AuVANCOUVER, Jan. 13, 2011 - Gold Finder Explorations Ltd. ("Gold Finder") (TSX VENTURE: GFN) is pleased to announce that it has intersected significant high grade gold mineralization from its recently completed Phase 2 diamond drilling program at the Golden Rose Property.
The drilling program, which consisted of 2,204.4 m in 7 diamond drill holes, targeted the projected extension of the "core" zone that was historically mined by the Consolidated Mining and Smelting Company of Canada Limited.
Assay results for the remaining drill holes of this program, tabulated below, include some of the highest grade mineralization intersected to date by Gold Finder; note that the lengths reported are drill intersected core lengths and do not represent true widths.
Hole Number From (m) To (m) Length (m) Au (g/t)
GR10-28A No significant assays
GR10-38 No significant assays
GR10-39 No significant assays
GR10-40 296.3 296.8 0.5 1.02
GR10-41 412.0 413.5 1.5 1.61
including 412.0 412.8 0.8 2.47
GR10-41A 459.0 461.0 2.0 0.95
GR10-42 238.8 243.9 5.1 15.62
including 238.8 240.9 2.1 27.68
250.0 250.6 0.6 3.89
255.5 256.5 1.0 3.84
268.6 271.2 2.6 70.05
including 268.6 269.4 0.8 26.30
including 270.9 271.2 0.3 543.00
CEO David Greenway said: "Gold Finder is very pleased with the current results as it adds significantly to our knowledge of the geology of the project, and the highest grade sample of 17 ounces per ton over one foot is very exciting."
A downhole induced polarization and resistivity survey by JVX of Toronto, ON, has just been completed and results are expected within a month. The survey is expected to aid in the vectoring of follow up drilling of the highest grade intercepts by providing, for the first time, a view at the chargeability of the prospective ground from beneath the favorable horizon.
Gold Finder has implemented a QA/QC program which includes the insertion of standards and blanks to ensure lab integrity. After being logged, samples of half core were transported by GFN personnel to ALS Chemex's processing facility located in Sudbury, Ontario.
Gold Finder Corporation also is the owner of the Crescent Mine in Northern Idaho which United Mining Group is moving into production at this time. Gold Finder will retain 20% interest in the Crescent when UMG earns-in their 80% in the project. Gold Finder owns 2.4M shares of UMG. It also owns 3.65M shares of Andover Ventures Inc. Gold Finder currently has 9,137,850 issued & outstanding shares, and approximately $2 M in the bank.
Joerg Kleinboeck, V.P. Exploration for Gold Finder Explorations, is the designated qualified person responsible for the preparation of this news release.
On behalf of the board of Directors,
David Greenway
President and CEO
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact
Gold Finder Explorations Ltd.
David Greenway, CEO, Director
604-689-0896
info@goldfinder.ca
www.goldfinder.ca