VANCOUVER, BRITISH COLUMBIA--(Feb. 8, 2008) Molycor Gold Corp. (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FRANKFURT:M1V) are pleased to announce that diamond drilling in November, 2007 consisted of 9 drill holes ranging from 514-855 feet (156.7-260.6 meters) in depth which have been completed on the Empress porphyry Mo project located 15km south of the past producing copper/moly Brenda mine. Geochemical analysis results from drill holes 4-6 are listed as follows (see press release dated January, 3, 2008 for holes 1-3):
DDH 07-EMP-4: Interval 15-45 m depth 30 m @ 0.093% Mo
Interval 45-75 m depth 30 m @ 0.038% Mo
DDH 07-EMP-5: Interval 6-36 m depth 30 m @ 0.076% Mo
Interval 36-69 m depth 33 m @ 0.034% Mo
DDH 07-EMP-6: Interval 6-30 m depth 24 m @ 0.073% Mo
Interval 51-72 m depth 21 m @ 0.053% Mo
Assaying was completed by Pioneer Laboratories located in Richmond, BC. The Empress prospect covers a 730 X 360 meter area (elongated north-south) and consists of widespread, low-grade molybdenum (and copper-gold) bearing sulphide mineralization hosted in Middle Jurassic age, porphyritic biotite-hornblende quartz monzonite of the Osprey Lake Batholith.
The Empress occurrence is classified as a Mo (Cu-Au) porphyry characterized by disseminated, fracture filling and quartz vein sulphide mineralization. Significant minerals include molybdenite, pyrite and chalcopyrite with accessory and minor quartz, K-feldspar, sericite, chlorite, kaolinite, and magnetite. Pyrite and molybdenite occur as disseminations and veinlets, and in quartz stringers in a north trending zone. Magnetite and increased K-feldspar is associated with fracture filling mineralization.
Management plans to collar a diamond drill at the location of percussion drill hole 81-9 in Spring, 2008. Results from diamond drill holes 07-EMP-7 to 9 have not been reported yet. When geochemical analysis is complete, drill holes 07-EMP-4 to 9 will be reported. Andris Kikauka, P.Geo., is the qualified person responsible for reporting Empress project geochemical analysis of drill hole samples.
This news release was reviewed by Andris Kikauka, P.Eng., a qualified person recognized under NI 43-101.
On Behalf of Management
Larry W. Reaugh, President, Chief Executive Officer and Director
Visit our websites to watch Larry Reaugh's interview with Stanlie Hunt of SmartStox Talk Show. www.smartstox.com
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This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
FOR FURTHER INFORMATION PLEASE CONTACT:
Goldrea Resources Corp. / Molycor Gold Corp.
Larry W. Reaugh
President, CEO & Director / CEO & Director
(604) 531-9639
(604) 531-9634 (FAX)
Email: info@goldrea.com / info@molycor.com
Website: www.goldrea.com / www.molycor.com
The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy
or accuracy of this release.
