Goldrush Intersects 8.77 g/t Gold Over 23 Metres, and 8.34 g/t Gold Over 6 Metres in Fill-In Drilling at Ronguen Gold Deposit, Burkina Faso
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/18/12 -- Goldrush Resources Ltd. (TSX VENTURE: GOD)(OTCQX: GDRRF) ('Goldrush' or the 'Company') is pleased to report the results, including high grade mineralization, from five reverse circulation ('RC') holes of a 98 hole RC and 18 hole diamond drilling fill-in program on the Company's Ronguen Gold Deposit in Burkina Faso, West Africa. Highlights include:
-- 8.77 g/t Au over 23 metres, including 128 g/t Au over 1 metre (4.51 g/t
Au over 23 metres when cut to 30 g/t Au), and 1.19 g/t Au over 12 metres
in hole KGRR11-228
-- 8.34 g/t Au over 6 metres and 0.66 g/t Au over 12 metres in hole KGRR11-
251
-- 2.53 g/t Au over 6 metres and 2.33 g/t Au over 6 metres in hole KGRR11-
229
-- 0.64 g/t Au over 23 metres and 2.04 g/t Au over 5 metres in hole KGRR11-
252
Hole KGRR11-228 was collared on line 780E of the western G2 grid of the Ronguen deposit, in an 80 m gap between existing drill sections. Hole KGRR11-229 was drilled 25 metres to the north of -228 and hole KGRR11-230 was drilled 50 metres to the north of -228, all on section 780E. In addition, Goldrush drilled RC holes KGRR11-251 and -252, 20 metres to the west and east, respectively, of hole - 228, and then followed up with core hole KGRC11-042 collared 25 metres to the south of hole -228 to test the down-dip potential of this high grade gold intercept. Assays from core hole -042 have not been received.
These results are consistent with the previously drilled sections 40 metres to the east and 40 metres to the west which show the presence of an upper mineralized zone extending to surface at about grid station 115N and with a second mineralized zone underlying the upper zone that represents a lens that does not extend all the way to surface. However, the previous drilling intersected grades more typical of the Ronguen mineralization (in the order of 1-2 g Au/t). During interpretation of this area, special attention will be given to the precise location of north northwest trending cross structures which may control higher grades along ore shoots that follow the intersection of the main zone and the cross structures.
Commenting on the assay results, Len Brownlie, President and CEO of Goldrush said, 'The intersection in hole KGRR11-228 is the highest grade we have encountered in the Ronguen deposit to date. Intersections of this grade are unusual, and we are evaluating the controls of high grade intersections such as this because of the implications for future production at Ronguen. This most recent fill-in drilling program of new sections between the widely spaced 80 metre drill sections is providing for a more robust interpretation of the structure of the deposit and the correlation of higher grade zones. We are pleased with the overall results of our fill-in drilling program, and are looking forward to receiving the results of our new resource estimate to be prepared by SRK Consulting during the first quarter of 2012.'
Assay Results
Significant intersections are noted above and in the following table:
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Gold
Grade Vertical
HOLE Depth From To Interval (g Au/t) Depth(1)
ID(3) Line Station Grid(1) (m) (m) (m) (2)(m) (ii) (m)
----------------------------------------------------------------------------
(Grid
Co-ord) (Grid Co-ord)
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KGRR11-
228 780 60 G2 100 11 12 1 1.07 10.0
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and 46 58 12 1.19 45.0
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and 71 94 23 8.77 71.4
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including 72 73 1 128 62.8
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and 98 100 2(i) 0.66 85.7
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KGRR11-
229 780 85 G2 73 21 27 6 2.33 20.8
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and 31 40 9 0.72 30.7
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and 65 71 6 2.53 58.9
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KGRR-11-
230 780 110 G2 45 1 2 1 0.67 1.3
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10 13 3 1.59 10.0
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17 21 4 0.84 16.5
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KGRR11-
251 760 75 G2 106 32 44 12 0.66 32.9
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and 62 68 6 8.34 56.3
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and 97 98 1 2.38 84.4
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KGRR11-
252 800 75 G2 107 33 56 23 0.64 38.5
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and 96 101 5 2.04 85.3
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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 24 degrees and inclination of
-60 degrees.
(i) Open at the end of the hole.
(ii) Cut-off grade of 0.5 g/t Au; no top cut applied to exploration
drilling results.
A surface plan showing the drill hole locations is available at http://goldrushresources.ca/properties/ronguen/.
Ronguen Exploration Plan
A total of 98 RC holes totaling 7,793 metres and 18 core holes totaling 2,347 metres were completed in the fall 2011 drill program on the Ronguen gold deposit. A total of 1,325 metres of surface trenching in 13 trenches are currently near completion. Samples from the remaining 35 RC and 18 core holes have been delivered to the assay lab and results will be announced when received. Following receipt of all assays, results will be interpreted and incorporated into a three-dimensional model in preparation for the updated resource estimate.
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 hanging wall 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. Samples are assayed using standard fire assay techniques on a 50 gram charge with an atomic absorption finish. 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 RC 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
(416) 306-5790
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