Vancouver, British Columbia: Goldrush Resources Ltd. (TSX-V: GOD) ("Goldrush" or the "Company") is pleased to report assay results from thirteen trenches totalling 1283.3 linear metres completed in early 2012 on the Company's Ronguen Gold Deposit in Burkina Faso, West Africa. Highlights of the trenching results include:
-1.91 g/t Au over 24 metres, including 3.16 g/t Au over 12 metres in trench KGRTR11-1185E
-1.81 g/t Au over 18 metres in trench KGRTR11-1105E
-1.21 g/t Au over 17.3 metres and 1.66 g/t Au over 11 metres in trench KGRTR11-1265E (S)
-1.04 g/t Au over 16 metres in trench KGRTR11-785E
The trenching program was designed to complement a 10,140 metre fill-in drilling program which included 18 core and 98 reverse circulation ("RC") drill holes on the Company's Ronguen Gold Deposit. Assay results from the trenching program were received too late for inclusion in the updated Mineral Resource Statement prepared for the Ronguen Gold Project by SRK Consulting (Canada) Inc. ("SRK"), and announced on May 24, 2012. However, the trenching information has been included in the project database for future mineral resource/reserve estimates.
Ronguen is located on Goldrush's Kongoussi 1 and Tikare permits, 100 kilometres north of the capital Ouagadougou, 45 kilometres east of Cluff Gold's Kalsaka heap leach gold mine and 10 kilometres northwest of High River Gold's Bissa gold mine which is currently in development. Ronguen enjoys proximity to paved highways, the Lac Bam water supply and is within three kilometres of the southern boundary of the regional centre Kongoussi (the capital of Bam province), which has an approximate population of 45,000.
The current mineral resource for the Ronguen deposit is as follows:
Table 1: Mineral Resource Statement* for the Ronguen Gold Deposit, Burkina Faso, SRK Consulting Canada Inc., May 18, 2012.
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|Classification |Cut-Off |Quantity |Grade |Contained Metal|
| |-----------------------------------------------|
| |Au (gpt)|('000 tonnes)|Au (gpt)|(Gold ounces) |
|-------------------------------------------------------------------|
|Measured Mineral |Â |Â |Â |Â |
|Resources | | | | |
|-------------------------------------------------------------------|
|Saprolite / Saprock|0.4 |4,143 |1.12 |150,000 |
|-------------------------------------------------------------------|
|Fresh Rock |0.7 |138 |1.14 |5,000 |
|-------------------------------------------------------------------|
|Total Measured |Â |4,281 |1.12 |155,000 |
|-------------------------------------------------------------------|
|Indicated Mineral |Â |Â |Â |Â |
|Resources | | | | |
|-------------------------------------------------------------------|
|Saprolite / Saprock|0.4 |3,861 |1.28 |159,000 |
|-------------------------------------------------------------------|
|Fresh Rock |0.7 |345 |1.66 |18,000 |
|-------------------------------------------------------------------|
|Total Indicated |Â |4,206 |1.31 |177,000 |
|-------------------------------------------------------------------|
|Total Measured and |Â |8,487 |1.22 |332,000 |
|Indicated | | | | |
|-------------------------------------------------------------------|
|Inferred Mineral |Â |Â |Â |Â |
|Resources | | | | |
|-------------------------------------------------------------------|
|Saprolite / Saprock|0.4 |136 |1.91 |8,000 |
|-------------------------------------------------------------------|
|Fresh Rock |0.7 |754 |1.83 |44,000 |
|-------------------------------------------------------------------|
|Total Inferred |Â |890 |1.85 |52,000 |
|-------------------------------------------------------------------|
|*Â Â Â Â |
|Mineral |
|resources are |
|not mineral |
|reserves and do |
|not have |
|demonstrated |
|economic |
|viability. All |
|figures have |
|been rounded to |
|reflect the |
|relative |
|accuracy of the |
|estimates. The |
|mineral |
|resources are |
|reported at a |
|cut-off grade of |
|0.4Â gpt gold in |
|saprolite/saprock |
|and 0.7 gpt |
|gold in fresh |
|rock within a |
|conceptual pit |
|shell optimized |
|considering a |
|gold price of |
|US$1,550 per |
|ounce of gold, |
|metallurgical |
|recovery of 85 |
|percent in |
|saprolite/saprock |
|and 80 percent |
|in fresh |
|rock. The |
|saprolite/saprock |
|extends to the |
|base of the |
|moderately |
|weathered zone |
|and the fresh |
|rock |
|mineral |
|resources extend |
|below that |
|surface. |
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Trench Assay Results
Significant trench assays are noted above and in the following table:
----------------------------------------------------------------------------------------- |Trench ID |Line |Station|WGS 84 |WGS 84 |Total |From|To |Interval|Gold | |---------------------------------------------------------------------------------------| |Â |(Grid |(Grid |Co-ord |Co-ord |Length|(m) |(m) |(m) |Grade| | |Co-ord)|Co-ord)|UTM |UTM Â Y (m) |(m) | | | |(g | | | | |X | | | | | |Au/t)| | | | |(m) | | | | | | | |---------------------------------------------------------------------------------------| |KGRTR11-1420E |1425 |-100 |656705.859|1466401.592|100 |26 |33 |7 |1.09 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |72 |75 |3 |1.19 | |---------------------------------------------------------------------------------------| |KGRTR11-1265E |1265 |-120 |656573.202|1466322.745|56.6 |14 |25 |11 |1.66 | |(S) | | | | | | | | | | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |30.7|48 |17.3 |1.21 | |---------------------------------------------------------------------------------------| |KGRTR11-1185E |1185 |-80 |656484.23 |1466327.08 |147.5 |11 |14 |3 |4.10 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |42 |48 |6 |2.25 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |53 |63 |10 |0.51 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |82 |93 |11 |0.96 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |99 |123 |24 |1.91 | |---------------------------------------------------------------------------------------| |including |Â |Â |Â |Â |Â |108 |120 |12 |3.16 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |129 |135 |6 |1.17 | |---------------------------------------------------------------------------------------| |KGRTR11-1105E |1105 |-100 |656420.577|1466276.319|224.2 |55 |61 |6 |1.39 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |89 |96 |7 |0.63 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |122 |131 |9 |0.70 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |136 |154 |18 |1.81 | |---------------------------------------------------------------------------------------| |KGRTR11-1042.5E|1042.5 |-80 |656355.190|1466271.300|189.6 |35 |37 |2 |2.32 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |45 |60 |15 |0.73 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |127 |137 |10 |0.69 | |---------------------------------------------------------------------------------------| |KGRTR11-1020E |1020 |-30 |656314.459|1466309.274|160 |2 |9 |7 |1.26 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |30 |41 |11 |0.61 | |---------------------------------------------------------------------------------------| |KGRTR11-997.5E |997.5 |0 |656282.99 |1466326.37 |82.1 |8 |14.3 |6.3 |1.01 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |20 |23 |3 |1.43 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |45 |47 |2 |4.50 | |---------------------------------------------------------------------------------------| |KGRTR11-940E |940 |0 |656229.89 |1466303.58 |101.4 |9 |10 |1 |8.71 | |---------------------------------------------------------------------------------------| |and |Â |Â |Â |Â |Â |25 |31 |6 |0.69 | |---------------------------------------------------------------------------------------| |KGRTR11-865E |865 |15 |656154.61 |1466289.34 |29.8 |22 |29 |7 |0.94 | |---------------------------------------------------------------------------------------| |KGRTR11-785E |785 |120 |655916.45 |1466295.92 |30 |2 |18 |16 |1.04 | |---------------------------------------------------------------------------------------| |KGRTR11-720E |720 |110 |655853.59 |1466308.66 |23.1 |22 |23.1*|1.1 |0.61 | -----------------------------------------------------------------------------------------
* open at end of trench
All trenches were located on the eastern (G1) grid of the Ronguen Main Zone and oriented with an azimuth of 340 degrees, except for trenches KGRTR11-720E and KGRTR11-785E which were located on the western (G2) grid and were oriented at 24 degrees. Trenches KGRTR11-1465E and KGRTR11-1265E (North) were located near the current northeast corner of the identified mineralization of the Ronguen Main Zone and contained only anomalous values. Trenches were excavated manually to a depth ranging from one to four metres, depending on the depth of the laterite and soil cover. Generally, the trenches were 1.2 metres in width. Continuous sampling by hand was conducted approximately 15 centimetres above the trench floor on the east wall of the trench with nominal one metre sampling intervals that may be modified by the logging geologist based on lithology and/or alteration.
Ronguen Exploration and Development Plan
The Company continues to gather baseline environmental and social data for a feasibility study of the Ronguen gold deposit, and is preparing plans for a fall exploration program to explore several high priority exploration targets near the Ronguen deposit. Targets for additional mineralization are located on the potential extension of the South Zone, at depth in the Main Zone and on a parallel zone located within one kilometre to the north of the Main Zone, as well as at unexplored and underexplored areas of potential on the Kongoussi 1 and Tikare permits.
Ronguen Deposit Mineralization
The Ronguen gold deposit is located within the northeastern part of the highly prospective Birimian age Boromo greenstone belt in Burkina Faso. The local geology at Ronguen is dominated by an east northeast ("ENE") trending metasedimentary sequence consisting of interlayered siltstone, mudstone and minor conglomerate that are intruded by plugs, and narrow dykes and sills of gabbroic composition. The Ronguen mineralized zone is located in the structural hanging wall of a major ENE thrust fault which recorded a tectonic transport direction towards the north. The mineralized deformation corridor represents a major ENE trending reverse fault zone, dipping moderately towards the south. Gold mineralization is found in both metasedimentary and mafic intrusive rocks. The gold mineralization is associated with quartz-carbonate veins/veinlets and with sulphides occurring as disseminations and patches, and in veinlets. Two sets of gold-bearing quartz veins are developed: subvertical shear veins parallel to the shear zone foliation and to the shear zone boundaries, and subhorizontal extension veins. Small quartz stockworks are present and represent a part of the gold mineralization.
Quality Assurance/Quality Control
Goldrush maintains a rigorous quality control program involving the use of certified standards from an accredited Canadian laboratory, inserted blanks, and the use of repeat assays. Details of Goldrush's quality control program for trench samples are as follows:
The SGS laboratory in Ouagadougou, Burkina Faso was used for sample analysis. Samples are assayed using standard fire assay techniques on a 50 gram charge with an atomic absorption finish. For its internal control, SGS inserted two certified standards and one blank, and analyzed one random duplicate for approximately each 25 samples submitted. For its certified standard and blank samples included in the QA-QC procedure, Goldrush averaged 7.3% of the total samples submitted.
Mr. Driffield Cameron, P. Geo., Director of Goldrush, is the Qualified Person for this press release for the purposes of National Instrument 43-101 and has reviewed the technical information herein.
For further information on Goldrush Resources Ltd., shareholders and other interested parties are invited to visit the Company's website at www.goldrushresources.ca.
ON BEHALF OF THE BOARD OF DIRECTORS,
GOLDRUSH RESOURCES LTD.
"Len Brownlie"
Len Brownlie - President and Chief Executive Officer
Contact Information:
Goldrush Resources Ltd.
Don Willoughby, VP Corporate Development: [email protected]
About Goldrush: Goldrush is a Canadian mineral exploration company which has successfully focused on gold exploration in West Africa, where the company has discovered, and is currently expanding and defining the 332,000 ounce measured and indicated resource (8,847 million tonnes at a grade of 1.22 g/t Au) and inferred resource of 52,000 ounce (890,000 tonnes at a grade of 1.85 g/t Au) of the Ronguen gold deposit in Burkina Faso.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.