Dec 13 2010
Golden Reign Resources Ltd. (TSX VENTURE:GRR) has reported final assay results from the 2010 drill program conducted at its San Albino-Murra Gold Property, Nicaragua.
A total of five diamond drill holes were completed at the Arras prospect, located approximately 450 metres southeast of the San Albino Mine. Drill holes AR10-01, AR10-03, AR10-04 and AR10-05 all intersected the Arras zone mineralization, with the best intercepts returning:
- AR10-01 1.15m of 31.15 g/t gold and 83.6 g/t silver
- AR10-03 2.14 metres of 21.43 g/t gold and 47.3 g/t silver
Drilling at Arras has confirmed high-grade, near surface mineralization. The silver to gold ratio is roughly 2:1 at Arras, as compared to the 1:1 silver to gold ratio received from drilling at the San Albino Mine.
A cross-section running from San Albino drill hole SA10-06 to the Arras surface showing indicates that the Arras mineralized zone can be traced 450 metres down dip. The Arras zone, which has already been traced for 200 metres along strike, is open in both directions and down dip. The third intersection in drill hole SA10-06, which returned 4.0 metres of 13.67 g/t gold and 31.41 g/t silver including 0.8 metres of 42.28 g/t gold and 123.0 g/t silver, and the Arras mineralization are not only visually similar but also chemically similar in that the silver to gold ratio is approximately 2:1.
Large, regional shear zones host the mineralized zones and are responsible for continuity of both grade and thickness within the mineralized zones.
The Arras drill program was designed to compare the grades and thicknesses achieved by core drilling against those received by reverse circulation drilling. Drilling by the previous operator was mainly done by Reverse-Circulation (RC) drilling, which tends to average grades over longer length of intersection. The Company twinned RC holes which carried significant values and thickness of gold mineralization.
AR10-01 (130/90) – 85.50 metres
From 80.77m to 81.40m - 3.23m of 12.08 g/t Au and 32.41 g/t Ag Including: From 82.10m to 83.25m - 1.15m of 31.15 g/t Au and 83.6 g/t Ag
Drill hole AR10-01 twinned reverse circulation hole SARC021, which was drilled by the prior operator and intersected 4.0 metres of 16.3 g/t gold.
AR10-02 (130/60) – 90.83 metres
Drill hole AR10-02 was collared in the same location as AR10-01; however, due to drilling difficulties encountered the hole was terminated before it reached the mineralized zone.
AR10-03 (130/90) – 21.34 metres
From 1.52m to 4.88m - 3.36 metres of 15.79 g/t Au and 36.70 g/t Ag Including: From 2.74m to 4.88m – 2.14 metres of 21.43 g/t Au and 47.3 g/t Ag and 2.13 metres of 5.55 g/t Au and 14.14 g/t Ag
Including: 1.22 metres of 8.78 g/t Au and 21.1 g/t Ag
Drill hole AR10-03 twinned reverse circulation hole SARC013 which returned 4 metres of 28.2 g/t gold when drilled by the prior operator.
AR10-04 (130/55) – 25.91 metres
From 6.10m to 16.76m - 10.66 metres of 4.67 g/t Au and 15.72 g/t Ag Including: From 7.62m to 10.67m - 3.05 metres of 10.92 g/t Au and 26.60 g/t Ag
Drill hole AR10-04 had very poor core recovery. Samples were taken between footage blocks.
AR10-05 (132/55) – 21.34 metres
From 0.00m to 1.83m -- 1.83 metres of 1.63 g/t Au and 11.3 g/t Ag and From 2.20m to 12.72m – 1.52 metres of 3.61 g/t Au and 9.5 g/t Ag
Drill hole AR10-05 also had poor core recovery.
Qualified Person
John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under NI 43-101) has reviewed the technical information contained in this news release.
Source: Golden Reign Resources Ltd.