Goldrush Intersects 25 Metres Averaging 2.16 g/t Gold and 2.55 g/t Gold Over 11 Metres in Infill Drilling at Ronguen Gold Deposit, Burkina Faso, West Africa
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/15/11 -- Goldrush Resources Ltd. (TSX VENTURE: GOD)(OTCQX: GDRRF)(PINK SHEETS: GDRRF) ('Goldrush' or the 'Company') is pleased to report the assay results from a second group of 21 reverse circulation ('RC') holes of a 94 hole infill drilling program on the Company's Ronguen Gold Deposit in Burkina Faso. Highlights of the drilling results include:
-- 2.16 g/t Au over 25 metres and 1.35 g/t Au over 6 metres, in hole
KGRR11-182
-- 2.55 g/t Au over 11 metres, in hole KGRR11-183
-- 2.24 g/t Au over 12 metres, in hole KGRR11-196
-- 0.80 g/t Au over 20 metres and 1.53 g/t Au over 14 metres, in hole
KGRR11-181
-- 1.23 g/t Au over 17 metres, in hole KGRR11-185
-- 1.27 g/t Au over 15 metres, in hole KGRR11-176
All of the above intersections were located in the eastern or far eastern half of the G1 grid, the eastern of two overlapping grids at the Ronguen deposit, where the 21 drill holes were collared within an east - west distance of 770 metres (from lines 570E to 1340E) and a north-south distance of up to 312 metres (from stations 67N to -245S). The density of drill holes in this area is designed to define and upgrade the oxide portion of the gold mineralization in the Ronguen deposit to the indicated category in preparation for an updated resource estimate anticipated to be received in late Q1, 2012.
In addition, four holes were drilled on the parallel South Zone with hole KGRR11-189 intersecting 1.4 g/t Au over 11 metres and hole KGRR11-192 intersecting 1.55 g/t Au over 8 metres. Both intersections occurred within 28 metres of the surface. The South Zone mineralization was unknown at the time of the Company's 2008 resource estimate and will be included in the upcoming resource estimate update.
Commenting on the assay results, Goldrush President and CEO Len Brownlie said: 'With 45% of the RC drilling assays from Ronguen now received, we are very encouraged that we will have a significant upgrade in both the classification and size of the Ronguen resource. We now have both RC and core rigs drilling at Ronguen, and a program of 1,285 metres of trenching to begin shortly. Prior to the holiday break, we anticipate completing this phase of work at Ronguen; up to 1,000 metres of core and RC drilling on the Salbo permit; 6,500 metres of RAB drilling on the recently acquired Pompoi permit, next to Roxgold's Yaramoko permit gold discovery; and up to 3,500 metres of RAB drilling on the Rima permit. Management will be travelling to the field to observe first-hand several of these programs in the coming weeks.'
Assay Results
Significant intersections are noted above and in the following table:
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Gold
HOLE ID Line Station Grid(3) From To Interval Grade Vertical
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(Grid (Grid Depth
Co-ord) Co-ord) (m) (m) (m)(2) (g/ Au/t) (m)(1)
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KGRR11-176 1340 -245 G1 54 69 15 1.27 61.5
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KGRR11-177 860 20 G1 11 20 9 0.91 13.4
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and 26 33 7 0.89 25.5
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KGRR11-179 1015 67 G1 40 47 7 1.76 33.3
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KGRR11-180 1037.5 67 G1 30 43 13 1.03 29.9
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KGRR11-181 1060 25 G1 9 29 20 0.80 16.5
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and 40 54 14 1.53 40.7
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KGRR11-182 1060 45 G1 8 33 25 2.16 17.8
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and 41 47 6 1.35 38.1
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KGRR11-183 1180 55 G1 11 22 11 2.55 12.6
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KGRR11-184 1260 -30 G1 32 42 10 0.77 30.3
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KGRR11-185 1180 -40 G1 1 18 17 1.23 7.8
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KGRR11-189 610 -160 South Zone 28 39 11 1.40 27.4
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KGRR11-192 570 -115 South Zone 3 11 8 1.55 5.4
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KGRR11-193 935 -75 G1 54 59 5 1.67 48.9
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KGRR11-194 935 -50 G1 31 34 3 3.77 28.1
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KGRR11-195 935 -25 G1 21 28 7 1.41 21.2
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and 67 91 24 0.82 68.4
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KGRR11-196 1015 -85 G1 38 47 9 0.79 34.8
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and 55 67 12 2.24 50.0
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(1) 'Vertical depth' is the calculated depth to the centre of the
intersection.
(2) True widths are determined to be 90 to 95% of core intervals.
(3) All holes were drilled at an azimuth of 340 degrees.
Five of the twenty-one holes (KGRR11-178, -186, -187, -188 and -191) encountered only anomalous gold values. These were peripheral holes drilled off the southern portion of the main zone on grid G1 (hole KGRR11-178) or northeastern end of grid G1 (holes KGRR11-186 to -188) or southern extension of the South Zone (hole KGRR11-191). Hole KGRR11-190, drilled off the northern periphery of the South Zone did not encounter any mineralization.
Drill hole lengths varied from 35 to 131 metres; all holes were drilled at inclinations of -50 to -60 degrees. A total of 1,468 metres was drilled in the 21 RC holes and continuously sampled at one metre intervals for assaying. A surface plan showing the drill hole locations is available at http://goldrushresources.ca/properties/ronguen/.
Ronguen Deposit Mineralization
The Ronguen gold deposit is located within the northeastern part of the highly prospective Birimian age Boromo greenstone belt in Burkina Faso. The local geology at Ronguen is dominated by an east northeast ('ENE') trending metasedimentary sequence consisting of interlayered siltstone, mudstone and minor conglomerates that are intruded by plugs, and narrow dykes and sills of gabbroic composition. The Ronguen mineralized zone is located in the structural footwall of a major ENE thrust fault which recorded a tectonic transport direction towards the north. The mineralized deformation corridor represents a major ENE trending high angle reverse fault zone, dipping moderately to steeply towards the south. Gold mineralization is found in both metasedimentary and mafic intrusive rock; there are no obvious lithological controls yet recognized at this epigenetic gold deposit. The gold mineralization is associated with quartz-carbonate veins/veinlets and with sulphides occurring as disseminations and patches, and in veinlets. Two sets of gold-bearing quartz veins are developed: subvertical shear veins parallel to the shear zone foliation and to the shear zone boundaries, and subhorizontal extension veins. Small quartz stockworks are present and represent a part of the gold mineralization.
Quality Assurance/Quality Control
Goldrush maintains a rigorous quality control program involving the use of certified standards from an accredited Canadian laboratory, inserted blanks, and the use of repeat assays. Details of Goldrush's quality control program were provided in the Company's News Release #2010-13, dated October 25, 2010.
The SGS laboratory in Ouagadougou, Burkina Faso was used for sample analysis. For its internal control, SGS inserted two certified standards and one blank, and analyzed one random duplicate for approximately each 25 samples submitted. For its certified standard and blank samples included in the QA-QC procedure, Goldrush averaged 11.0% of the total samples submitted.
The drilling was contracted to Forages Technic-Eau/Burkina sarl based in Ouagadougou, Burkina Faso.
Mr. Driffield Cameron, P.Geo., Director of Goldrush, is the Qualified Person for this press release for the purposes of National Instrument 43-101 and has reviewed the technical information herein.
For further information on Goldrush Resources Ltd., shareholders and other interested parties are invited to visit the Company's website at www.goldrushresources.ca.
ON BEHALF OF THE BOARD OF DIRECTORS,
GOLDRUSH RESOURCES LTD.
Len Brownlie, President and Chief Executive Officer
About Goldrush: Goldrush is a Canadian mineral exploration company which has successfully focused on gold exploration in West Africa, where the company has discovered, and is currently expanding and defining the 249,000 ounce (inferred resource of 5.9 million tones at a grade of 1.31 g/t Au) Ronguen gold deposit in Burkina Faso.
About Burkina Faso: Burkina Faso is a politically and economically stable West African democracy that relies on farming and mining as it primary sources of foreign exchange. Burkina Faso saw gold production double from 2008 to 2010 and is currently the fifth largest gold-producing country in Africa. Control Risks, a global consultancy specializing in political, security and integrity risk, ranked Burkina Faso #3 in their 2011 World Risk Survey - countries with least risk. The World Risk Survey asked respondents to rank their perception of risk in the following categories: financial risk, sovereign risk, land access, green tape, land claims, red tape, social risk, infrastructure, civil unrest, natural disasters and labour relations.
FORWARD-LOOKING STATEMENTS: This news release contains certain 'forward-looking statements' within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Goldrush Resources Ltd.
Don Willoughby
VP Corporate Development
info@goldrushresources.ca
www.goldrushresources.ca
Patrick Piette
(416) 815-0700 Ext. 267
ppiette@equicomgroup.com
Joe Racanelli
(416) 815-0700 Ext. 243
jracanelli@equicomgroup.com
www.equicomgroup.com