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Message: T11 Deposit - high priority drill targets identified (May 14th, 2009)

T11 Deposit - high priority drill targets identified (May 14th, 2009)

posted on May 25, 2009 10:00AM

May 14, 2009, - Vancouver - Golden Peaks Resources Ltd. (TSX: GL) (the "Company") is currently reviewing the geology, geophysics and geochemistry of the T-11 deposit to aid with the selection of specific drill targets for the upcoming diamond drill program.

Gold mineralization has been intersected in drilling on the T-11 deposit and its satellite bodies over a distance of approximately 1.4 km. (88 holes - 11,945.3 meters). The deepest drilling to date on the T-11 deposit has been to approximately 200 meters vertical depth.

Gold mineralization in the T-11 deposit consists of high grade gold-rich quartz vein systems (veins/stockworks/breccias) within broader zones of gold mineralization in replacement pyrite bodies. Similar gold mineralization has been intersected in the G deposit. Examples include:

Composite Intersection
LF 7: 50 meters @ 3.65 g/t gold
LF 8: 23 meters @ 3.62 g/t gold
LF 11: 38 meters @ 5.72 g/t gold
LF 13: 23.9 meters @ 3.97 g/t gold

Examples of Contained High Grade
1.20 meters @ 31.41 g/t gold
1.00 meter @ 28.59 g/t gold
1.75 meters @ 31.73 g/t gold
1.00 meter @ 16.49 g/t gold

The roots (?) of these high grade vein systems have been identified immediately below the T-11 deposit, its satellite bodies and the Valley zone by a CSAMT survey and in part by drilling. The gold mineralization is associated with broad conductive structural zones which, based on geophysics, persist to depths greater than 500 meters.

The upcoming diamond drill program will test the high impact gold targets immediately below the T-11 deposit at depths of between 200 meters to 400 meters. These targets have the potential of adding significant gold resources in this area.

The T-11 and G deposits are located near the intersection of the A and CR Structures and are part of the same large gold mineralizing system. There is a strong probability of additional gold discoveries in this immediate area. The T-11 and G deposits are approximately 700 meters apart across strike. The drill tested Valley zone is located half way between the T-11 and G deposits. The mineralization is simple, gold with minor silver, and it contains no deleterious metals.

This area is particularly well mineralized and the Company believes a significant gold resource can be delineated in this immediate area.

This press release has been reviewed and approved by Dr. Kieran Downes, P.Geo., President of Golden Peaks Resources Ltd. and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out.

Media Information, contact:
Scott Emerson, Chairman and Director
[email protected]

Investor Information, contact:
Mike Kordysz, Investor Communications
[email protected]

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

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