Goldrea Resources Corp.: Underground Drifting at Golden Rose Encounters High Grade Gold
- Press Release
- Source: Goldrea Resources Corp.
- On Monday September 28, 2009, 1:20 pm EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 09/28/09) - Goldrea Resources Corp. (TSX-V:GOR - News)(PINK SHEETS:GORAF - News)(Frankfurt:GOJ - News) reports that underground development continues to progress extremely well at the Golden Rose Mine in Shandong Province, China.
As of September 12, 2009, a total of 4,316 meters (14,160 feet) of lateral development has been completed on five levels from the 235 meter (771 feet) deep shaft.
Significant gold has been encountered in this work, summarized as follows:
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3 Level Total Sample Length Assay g/t Assay oz/t
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(m) (ft)
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West Drift 10.0 32.8 4.12 0.132
West Drift, 14.0 45.9 5.67 0.182
including 2.0 6.6 14.0 0.448
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East Drift, 10.0 32.8 6.46 0.207
including 1.8 5.9 18.25 0.584
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West #8 Crosscut 6.0 19.7 2.68 0.086
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West #12 Crosscut 13.5 44.3 3.66 0.117
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Note: oz/t is troy ounces per short ton (2,000 lbs.); all units are metric
unless specified otherwise. Assays were done in the Daye Mine Laboratory by
standard Chinese methods. Goldrea has verified that these methods agree
closely with checks run by Canadian assay labs.
Stopes are currently under development from 4 Level. Stoping will begin in the 1201 stope this month and in the 1202 stope early next month. Development has begun in the 1203 stope.
The surface stockpile now contains over 19,700 tons of material to be part of a 20,000 ton batch that will be processed in the Daye Mill in mid-October.
The Company is in on-going discussions with several interested Chinese gold mining companies concerning potential joint ventures or direct investments in Goldrea to further advance the underground development and surface exploration in the Golden Rose resource area. Goldrea has a 90% interest in the Daye/Goldrea 2 project (Golden Rose area) with the right to earn a 65% interest in the Ludi lease to the south. Widely spaced exploration drilling is continuing on the extremities of the Ludi lease.
This news release was reviewed by Norm Tribe, P.Eng., a Qualified Person recognized under NI-43-101.
