Thursday, 9 February 2012

Goldrush Resources hits 4.49 g/t gold over 17 metres at Ronguen deposit

Canadian gold explorer Goldrush Resources (CVE:GOD) unveiled Thursday drill results from the final 16 reverse circulation holes at its Ronguen gold deposit in Burkina Faso, West Africa, along with results from the first core hole of an infill drilling program at the site.

The results reported today formed part of a fall 2011 116-hole drill program at the property, including 98 reverse circulation holes and 18 core holes.

The first core hole of the campaign, KGRC11-042, returned 1.81 grams per tonne (g/t) of gold over 15.75 metres, 2.04 g/t gold over 7 metres and 2.73 g/t gold over 4.85 metres.

The core hole was drilled on the G1 grid, the eastern of two overlapping grids at the Ronguen deposit, and was collared around 25 metres south of hole KGRR11-228, which intersected 8.77 g/t gold over 23 metres and 1.19 g/t gold over 12 metres - confirming the down dip extension of at least two zones of mineralization, the company said.

Meanwhile, notable reverse circulation drilling results included 4.49 g/t gold over 17 metres in hole KGRR11-235; 1.64 g/t gold over 29 metres in hole KGRR11-237; and 1.73 g/t gold over 18 metres in hole KGRR11-236.

These holes were drilled on the G2 grid, the western of the two overlapping grids at the Ronguen deposit, and confirmed thick widths of the mineralization in this area, Goldrush said.

President and CEO, Len Brownlie, said: “The infill drilling program at Ronguen continues to provide some excellent results which we anticipate will be reflected in the upcoming revised resource estimate.

"We continue to await assays from the remaining 17 core holes and 1,325 metres of trenching, and also assay results from recently completed drill programs on the Ouavousse, Salbo and Rima permits."

Looking ahead, Brownlie continued: "2012 is shaping up to be an exceptional year for Goldrush, in which we plan to advance Ronguen, along with our Pompoi permit, (located adjacent to and on-strike with Roxgold’s Yaramoko gold discovery structure) and several of our nine other projects in Burkina Faso."

The West Africa-focused company said reverse circulation drill hole lengths varied from 60 to 95 metres, and the first core hole 42 was drilled to a depth of 119 metres.

In addition to the reverse circulation and core drilling, a total of 1,325 linear metres in 13 trenches were completed as well.

Goldrush said the samples from the remaining 17 core holes and all trenches have been delivered to the lab, with results to be announced when received.

Following this, all assays will be included into a three dimensional model in preparation of an updated resource estimate.

The project currently has a 249,000 ounce inferred gold resource, or 5.9 million tonnes at a grade of 1.31 g/t gold.

The Ronguen gold deposit is located within the northeastern part of the highly prospective Birimian age Boromo greenstone belt in Burkina Faso.

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