Gold Reach Resources Adds Another Drill at the Ootsa Project and Expands the Drilling Program
26.06.2012 | Marketwire
VANCOUVER, June 26, 2012 - Gold Reach Resources Ltd. (TSX VENTURE:GRV) ("Gold Reach" and/or the "Company") is pleased to announce that a third drill rig is being added to the drilling program currently underway at the company's 100% owned Ootsa Property located adjacent to the producing Huckleberry Copper Mine in British Columbia. In addition the previously announced 20,000 metre drill program has been increased to a minimum of 25,000 metres.All 3 drills will be used to delineate the extent of the new West Seel discovery. To date approximately 4600 metres of drilling has been completed during the 2012 program. Five holes are complete (holes S12-101 to 105) and the drills are currently working on holes S12-106 and S12-107. Assay results for holes S12-101 and 102 are expected in early July.
A property wide surface exploration program is underway and a reconnaissance induced polarization (IP) geophysical survey covering up to 50 line kilometres of roads, trails, and grids will commence in 2 weeks. The IP survey will be used to prospect a large covered area in the central and eastern part of the Ootsa property. Gold Reach has staked an additional 670 hectares of claims increasing the area of the Ootsa property to 23,147.5 hectares.
About Gold Reach Resources
Gold Reach Resources Ltd. is a Canadian exploration company with an experienced board and management team that is actively involved in mineral exploration in British Columbia. The Company holds a 100% interest in the Ootsa Property, located adjacent to the producing Huckleberry Copper Mine, and containing the Seel and Ox porphyry systems. The Seel porphyry contains a NI43-101 compliant resource containing 214.78 million tonnes grading 0.17% Cu, 0.13 g/t Au, 0.017% Mo, and 2.17 g/t Ag (0.33% Cu Eq) in the inferred category plus an additional 28.13 million tonnes grading 0.22% Cu and 0.21 g/t Au (0.40% Cu Eq) in the indicated category. The resource contains 805 million lbs. of Cu inferred plus 136 million lbs. of Cu indicated, 897,694 ounces of Au inferred plus 189,924 ounces of Au indicated, 15 million ounces of Ag inferred plus 1 million ounces of Ag indicated, and 80 million lbs. of Mo inferred plus 4 million lbs. of Mo indicated. The Ox porphyry, located 4 km northwest of Seel, contains a NI43-101 compliant resource containing 16 million tonnes grading 0.3% Cu and 0.04% Mo in the inferred category.
The Company is well financed with over $6 million dollars in the treasury and holds a 2% NSR covering 23,000 hectares of mining claims located adjacent to the Blackwater Gold deposit in central British Columbia. Additional information is available on our website at www.goldreachresources.com.
Dr. Shane Ebert, P. Geo., the President of the Company, is the Qualified Person responsible for the preparation of this news release, and has approved all technical disclosure contained herein.
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.
Contact
Gold Reach Resources Ltd.
604-718-5454 or S. Ebert direct line: 250 964-2699
Toll Free: 888-500-4587
www.goldreachresources.com