Gold Reach announces 7,500 metre drilling program to commence at Ootsa
VANCOUVER, June 18, 2014 /PRNewswire/ - Gold Reach Resources Ltd. (GRV: TSX-V) (Gold Reach and/or the Company) is pleased to announce a 7,500 metre drilling program will commence on June 23 at the company's 100% owned Ootsa Property, located adjacent to the producing Huckleberry Mine south of Smithers, British Columbia.
- Up to 7,500 Metres of Core Drilling – Drilling will start on the West Seel deposit with one drill rig and will focus on expanding known zones of higher grade mineralization and defining the extents of the large West Seel deposit.
- Porphyry Targets and High Grade Silver Veins to be Tested – A second highly portable track mounted drill will be added to the project in July to test numerous targets outside of the known resource areas, including both large porphyry targets and high grade silver base metal vein targets.
- Ongoing Surface Exploration – A surface exploration program consisting of soil sampling, induced polarization geophysics, mapping and prospecting, will continue on the property to advance known targets to the drill stage and continue to generate new targets.
2014 Exploration Program
The focus for 2014 will be to optimize the economic potential of the project and test all of the main exploration targets surrounding the known resources ahead of a potential preliminary economic assessment. Field crews will be mobilized to the Ootsa camp on June 23 and drilling will commence shortly after. The 2014 exploration program will include a minimum of 7,500 metres of core drilling, an induced polarization geophysical survey, a substantial surface exploration program, and various engineering, metallurgical, and environmental test work.
Drilling will initially start on the West Seel deposit and will focus on two objectives: 1) testing the depth extent of known higher grade trends defined during previous drill programs, and 2) delineating the extent of the deposit which still remains open to the north and south. The north side of the West Seel deposit contains mineralization that starts close to surface and there is good potential to add significant near surface tonnage in this area.
A second highly portable track mounted drill will be added to the project in July once numerous surface targets have been better defined and drill access established. This second drill will initially be used to test high grade silver-zinc-lead vein targets, analogous to the Damascus Silver Vein. These types of veins are widespread in the district and this program will be the first time the Company has specifically targeted high grade veins for drill testing. The track mounted drill will also be used to test several porphyry copper exploration targets.
About Gold Reach Resources
The Ootsa property is an advanced stage exploration project containing the East Seel, West Seel and Ox porphyry systems all with NI 43-101 compliant resources. The Company has completed 134,878 metres of core drilling on the property to date, with 36,135 metres completed during 2013. In total the Ootsa property contains compliant pit constrained resources totaling 1.25 billion pounds copper equivalent in the measured and indicated categories (consisting of 0.7 billion lbs. of Cu, 0.65 million ounces of Au, 66 million lbs. of Mo, and 11.4 million ounces of Ag) and 1.66 billion pounds copper equivalent in the inferred category (consisting of 0.9 billion lbs. of Cu, 0.8 million ounces of Au, 104 million lbs. of Mo, and 16 million ounces of Ag), using a 0.2% copper equivalent cut off.
For more information on the Ootsa property, the contained resources, and our 2014 exploration targets, please see our website at http://goldreachresources.com.
Dr. Shane Ebert P.Geo., President of the Company, is the Qualified Person for the Ootsa project as defined by National Instrument 43-101 and has approved the technical disclosure contained in this news release.
Shane Ebert, President/Director
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.
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.
SOURCE Gold Reach Resources Ltd.