TSX-V Symbol: GOT
VANCOUVER, April 27 /PRNewswire/ - Golden Touch Resources Corp. ("Golden Touch" or the "Company") (TSX-V Symbol: GOT; Frankfurt: 0GT) is pleased to announce the expansion of its current drill program at the Company's Rubik gold project in Albania.
The Rubik gold project covers 68 km2 and is situated about 100 kilometers north of the Albanian capital, Tirana.
In March Golden Touch commenced a 2,000 meter verification diamond drilling program in the Gjazuj Area, located towards the northern end of the project area. At Gjazuj previous drilling and recent surface trenching has defined significant gold grades over a strike distance of 1300 meters.
To date six holes have been completed for approximately 600 meters. Several new trenches have also been sampled along the breccia zone. The company's geologists are encouraged by the geology encountered and an initial batch of samples has been shipped to ALS Laboratory in Romania for analysis. ALS is an ISO Certified Facility.
Mr. Aly B. Mawji, President of Golden Touch stated: "We are very pleased with the progress to date on the current drill program and as a result the company now plans to expand the 2011 drill program to around 4,000 meters. We will continue to drill test new targets and define the Gjazuj deposit."
Golden Touch's principal assets are the three 100-per-cent-owned Albanian Exploration Projects, totalling approximately 140 sq. km, located in Northern Albania. The Company's subsidiary has already spent in excess of US$5 million on exploration within the permit areas, which has resulted in the outlining of significant gold, platinum group elements (PGE) and chromite mineralization.
Golden Touch has filed an updated National Instrument 43-101 ("NI 43-101") compliant technical report dated effective February 18, 2011 and revised effective March 13, 2011 (the "1124 Report") on the Livadheza Gold Project (EC 1124) prepared by Ian Mathinson, Bsc (Hons Geol), MAusIMM, with the TSX-V which is posted under the Company's profile on SEDAR at www.sedar.com. Golden Touch is presently completing NI 43-101 compliant reports on the three other ECs and expects to file the reports on SEDAR when complete.
The following is a summary of information contained in the NI 43-101 - EC1124 Report:
Exploration for gold has located near surface gold mineralization within a major regional structural breccia zone that can be defined over a strike length of 20 km. Along this strike interval geochemical surface soil sampling has defined a number of gold in soil anomalies over approximately ten kilometers of the strike. One anomaly (Gjazuj) coincides with an area previously drill tested in the 1980's for "sulphide bearing silica"(silica). The silica was used as a flux material for a copper smelter. The other nine kilometers remains untested.
The sulphide bearing silica (silica) occurs as pods within the breccias which dips northwards at around 30 degrees. The silica located in each hole was selectively sampled and assayed for a range of elements, of which only gold was found to be present in significant quantities.
The results of 157 diamond holes, ranging in diameter 74-146 mm, have been verified and compiled into a data base of historical information. Most of the holes were drilled on a 40 m x 40 m grid (some areas 20m x 20m) over a length of 700 meters along the strike of the breccia, with scattered holes out to a length of 1,300 meters.
|From these holes 246 separate assays (average down hole interval one meter), have been compiled by Jab Albania into a data base and evaluated. The best gold bearing down hole intervals being: Hole||Intercept downhole (M)||Intercept thickness (m)||Grade ( g/t Au)|
|64||26.5 - 34.5||8.0||7.2|
|26a||41.5 - 43.5||2||21.8|
The gold mineralization is open in both directions along strike, as well as to depth. The prospective breccia zone dips at about 30 degrees to the north beneath a thin layer of colluvium.
High grade gold mineralization occurs in at least four areas, each of which could reflect a mineralized pipe, originally fed from depth, that have been developed within major structural dilation zones within the breccia.
Recent surface sampling has indicated that gold occurs not only in the silica pods but elsewhere in the breccias. The geological logs suggest that this breccia may average 10 meters in width.
Jab Albania has completed a trench over the previously only known outcrop on the property, which has defined mineralization in excess of 6 meters in width with an average gold grade of 6.3 g/t Au.
More recently, a new outcrop was discovered during drill rig access cutting where silica is limited to narrow veinlets and the alteration is mainly "chloride" alteration a channel sample was completed and defined mineralization in excess of 9 meters with an average gold grade of 3.3 g/t Au.
Golden Touch is of the view that the evaluation of the prospective breccia zone within any drill hole is incomplete and hence there is potential for the current drilling program and the planned extension to the program, to locate additional gold mineralization even within the section drilled.
Robert Murdoch, Chairman of Golden Touch and a qualified person under the meaning of Canadian National Instrument 43-101, is responsible for the technical content of this news release.
On Behalf of the Board of Directors
Golden Touch Resources Corp.
"Aly B. Mawji", President
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SOURCE Golden Touch Resources Corp.