Vancouver, British Columbia (January 9, 2013) - Goldrush Resources Ltd. (TSX-V: GOD) (Goldrush or the "Company") is pleased to provide a review of the Company's strategically located properties, all of which are in Burkina Faso, a politically and economically stable West African democracy and one of the continents' fastest growing gold producers.
The country has seen gold mining flourish, with six mines coming into production since 2007, vaulting Burkina in 2012 into the position of fourth largest gold producer in Africa, and the third largest site for exploration on the continent. The six new gold mines contain global resources of over 17 million ounces of gold, while at least another 14 deposits (containing global resources of over 30 million ounces of gold) have been discovered and are awaiting advancement to production.
The Goldrush portfolio includes a gold deposit of considerable size on its flagship property, together with a number of other highly prospective properties, several of which are geologically similar and proximal to current producers or deposits which are being defined and moved towards production. Details are as follows:
Ronguen Gold Deposit
Discovery: Goldrush has discovered one of Burkina Faso's new deposits - Ronguen - which is being prepared for an economic evaluation and a potential production decision. Ronguen is located north of Ouagadougou, the capital of Burkina Faso, and is accessed by way of a modern paved highway for a distance of approximately 100 kilometres, and by gravel road for two kilometres to the deposit site.
Deposit Highlights: The Goldrush Ronguen deposit currently has delineated 332,000 measured and indicated ounces averaging 1.22 g Au/t, and 52,000 inferred ounces averaging 1.85 g Au/t1. The majority (309,000 ounces of gold) of the measured and indicated resources are in the oxide category and amenable to low cost heap leaching. To assist in the delineation of additional oxide resources, an induced polarization survey was completed over the Ronguen deposit, and interpreted three-dimensionally with newly acquired software,. Analysis of the results provided excellent coincidence between the resource and a high resistivity anomaly. Two adjoining resistivity anomalies with subparallel strike directions provide promising targets, and are currently being investigated by a two phase program of trenching and reverse circulation ("RC") drilling. Assays from the Phase 1 program are expected in January 2013. Additionally, a geophysical interpretation of another proximal area indicates the presence of a structural setting similar to the thrust fault controlled mineralization at the Main Zone, in an area of no outcrop and no drilling, which will initially be explored by pitting to define the geologic setting and mineralization potential. (See News Release dated November 20, 2012 for program details).
Proximity Highlights: Approximately eight kilometres to the southeast of Ronguen is the Bissa gold deposit (global resources of approximately 4.9 million ounces of gold in all categories2) of High River Gold Mines Ltd./Nordgold N.V., which is under development with production anticipated during H1, 2013. The identification of most of the areas of mineralization was carried out by the Goldrush team which discovered and defined the Ronguen Deposit.
Proximity Highlights: Goldrush's Pompoi permit covers a 232 sq. km. portion of the Hounde greenstone belt of western Burkina, approximately 180 kilometres west of Ouagadougou. A 60 kilometre stretch of the belt, extending from Endeavour Mining Corporation's Vindaloo deposit and its satellites in the south to the Mana deposits of Semafo Inc. in the north, and including Goldrush's Pompoi permit, is receiving considerable attention, in part because of the high grade gold resources which are being delineated in the 55 Zone at Roxgold's Yaramoko project. The Pompoi permit is located about 2.5 kilometres east of the 55 Zone which contains a global resource of 660,000 ounces of gold averaging approximately 11 g Au/t in all categories3. The deposit strikes easterly towards Pompoi, and appears to be plunging easterly as well. Soil samples taken over about 30% of the Pompoi permit provided a number of anomalies which were inadequately tested with rotary air blast ("RAB") drilling because of extensive laterite, laterite gravel and a high water table. Gold mineralization in the vicinity of the highest soil value of 983 ppb was confirmed in quartz veined granite saprolite (the main host rock of the 55 Zone) adjacent to the Roxgold permit boundary in the last hole of drill fence #1 by an intersection of 0.47 g Au/t over 2.0 metres, which is open in all directions and which may represent deposit peripheral mineralization. Future exploration including closely spaced airborne magnetometer, radiometric and possibly (VLF) electromagnetic surveys would provide additional information on which to base an air core or reverse circulation drilling program, both of which would be able to penetrate the difficult surface conditions.
Additional proximal mineralization to Pompoi lies to the north on the Mana Est permit where Semafo has discovered the high grade Siou zone (with assays of up to 12.56 g/t Au over 12 metres4), at a distance of approximately 10 kilometres. Siou is located along the Kokoi Trend, a north northeast trending magnetic lineament, adjacent to a granodiorite - greywacke contact. The Kokoi trend can be traced over a distance of approximately 30 kilometres. Semafo's aggressive 2012 exploration budget, which included drilling to within about two kilometers of Pompoi, has been augmented by $1 million for drilling at Siou to enable adding this new discovery to Semafo's December 31, 2012 resources and potentially, to its December 2013 reserves5.
Proximity Highlights: The 56 sq. km. Midebdo permit of Goldrush is located in the prospective Boromo greenstone belt, 325 kilometres southwest of Ouagadougou. Ampella Mining Limited's Konkera deposit (with a global resource of approximately 3.1 million ounces of gold in all categories6) is located about 11 kilometres from the Midebdo property along the the extensive north to northwesterly trending Batie West shear zone which has major artisanal workings distributed over 100 kilometres of its length, and is a significantly mineralized structure. The Batie West shear bifurcates before the north trending branch apparently passes just east of the Midebdo east boundary, and the west northwesterly branch crosses the permit for a distance of over 11 kilometres, containing three major areas of artisanal gold mineralization mapped by Ampella between its deposit and the Midebdo permit boundary. Initial geologic and geochemical work was hampered by extensive laterite, alluvium and thick vegetative cover, but reconnaissance soil sampling in the northern half of the permit outlined a linear gold anomaly almost four kilometres in length (with a high value of 87 ppb gold) which could represent mineralization associated with structural dilation related to the area of bifurcation of the Batie West shear zone. Detailed airborne interpretation, structural and regolith mapping, rock sampling, sublaterite sampling and ground geophysics, leading to a drilling campaign are indicated as components of the future work program.
Proximity Highlights: Goldrush's 250 sq. km. Rima permit is located in west central Burkina Faso contiguous with Amara Mining plc's (formerly Cluff Gold) Kalsaka Mine property, five kilometres from the mine and on trend with it. Approximately seven kilometres of this trend occurs within Rima, including two small artisanal sites which occupy a portion of the southeast quadrant of the permit where a first phase RAB program returned a best intersection of 3.29 g Au/t over 2 metres. In addition, the Sega deposit, and four surrounding prospects, about 12 kilometres to the northeast, occur in a domain which on the Rima permit contains the bifurcation of a major fault which could provide substantial ground preparation for gold deposition. A very large area of previously drill tested artisanal workings, from which the results are unavailable, occurs about 2.5 kilometres north of the Rima permit and trends onto the Goldrush ground, covering an artisanal site over a large surface area, which to date has received only minor preliminary attention.
Proximity Highlights: The 166 sq. km. Ouavousse permit, 105 kilometres ENE of Ouagadougou, is located immediately west of and crossed in part by the Markoye fault, a major NNE trending crustal-scale shear zone. The Markoye fault has been traced for over 400 kilometres in Burkina Faso and is associated with a number of substantial gold deposits, including IAMGOLD's Essakane Mine, High River's Taparko Mine, Volta's Kiaka gold deposit, Orezone's Bombore project and Channel's Tanlouka deposit. The Ouavousse permit, which has been renewed recently for a three year term, has been partially surrounded by West African Resources Ltd. because of the discovery of its bulk tonnage, intrusive hosted Sartenga copper-gold-molybdenum mineralization to the southwest. This discovery was made during the evaluation of a large 6.2 x 1.4 kilometre gold-only anomaly, which has now been defined by drilling in shallow oxidized bedrock over more than 500 metres in width on one of the sections. Crossing Goldrush's Ouavousse permit between West African's Sartenga and Badonogo permits is the continuation of the magnetic high trend which is interpreted to represent the dioritic host rocks of the Sartenga porphyry related mineralization. The Badonogo, gold-only analyses, anomaly strikes southwesterly for 10 kilometres to the northeast corner of Ouavousse, with a high value of 309 ppb gold.
Exploration Highlights: In December 2011, an initial 30 hole, 2,820 metre RC drilling program on the Ouavousse permit tested several artisanal sites and intersected 8.67 g Au/t over 2 metres in RC hole OUKR11-001, and 1.07 g Au/t over 4 metres in RC hole OUKR11-006.
Exploration Highlights: On the Salbo permit (146 sq. km.), located 50 kilometres north of Ouagadougou, three subparallel northeasterly striking gold trends across a distance of 1.7 kilometres are hosted in massive quartz veins, in metasedimentary rocks close to a granitic contact and within the granite itself. Six diamond drill holes tested these trends, returning best values of 5.98 g Au/t over 1.6 metres and 1.3 g Au/t over 6.45 metres. Trend 1 was tested for only 490 metres of an interpreted five kilometre strike length. Trends 1, 2 and 3 all provided strong chargeability and resistivity anomalies completely across the one square kilometre gradient array induced polarization ("IP") test grids. Exploration outwards along strike from the three trends for upwards of six kilometres will be enhanced over this area of substantial alluvial cover and high water table by termite mound sampling, to better define possible areas for IP and subsequent drilling. The permit is immediately south of High River's Bissa Gold Mine project area, and approximately 35 kilometres south of Goldrush's Ronguen deposit.
Fada Group and Liki Permit
Exploration and proximity highlights: The Company's Fada Group permits (Nakiambouri, Gonaba East and PK-60, totaling 311 sq. km.), located in southeastern Burkina Faso approximately 200 kilometres from Ouagadougou, have received a targeted initial phase of exploration, as has the Liki permit (135 sq. km.) located 200 kilometres north northeast of Ouagadougou. The initial RC drilling program that targeted an artisanal mining site on the Gonaba Est permit intersected 11.4 g/t Au over 1 metre in hole GEKRR11-004, and 2.20 g/t Au over 6 metres in hole GEKRR11-012. Both holes were in the westernmost fence and the mineralization encountered remains open to the west. Recently publicized information on a high grade initial gold resource (global resource of 573,000 ounces of gold grading 10.0 g Au/t in all categories7) on the nearby (20 to 25 kilometres to the south) Nabanga permit of Orbis Gold Limited emphasizes the importance of the intrusion hosted type of gold mineralization in the area, and the potential for this type of deposit in the intrusive setting of the Fada permits.
In order to fund significant exploration programs on many of these permits in 2013, the Company is in active negotiations with several potential joint venture partners.
Readers are cautioned that gold mineralization that occurs on adjacent permits may not extend onto the Company's permits.
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 - President and Chief Executive Officer
Len Brownlie, President and CEO: [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 has recently expanded the Ronguen gold deposit in Burkina Faso to a 332,000 ounce measured and indicated resource (8,487 million tonnes at a grade of 1.22 g/t Au) and an inferred resource of 52,000 ounce (890,000 tonnes at a grade of 1.85 g/t Au).
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.
1.Source: Goldrush News Release dated May 24, 2012. A mineral resource statement for the Ronguen gold deposit was prepared by SRK Consulting (Canada) Inc. For oxide gold resources, the resource contains 150,000 ounces of gold in the Measured category (4.143 million tonnes grading 1.12 grams of gold per tonne ("gpt Au"); 159,000 ounces of gold in the Indicated category (3.861 million tonnes grading 1.28 gpt Au); and 8,000 ounces in the Inferred category (136,000 tonnes grading 1.91 gpt Au) using a cut-off grade of 0.4 gpt gold. In addition, the bottom of the conceptual pit shell used to constrain the mineral resource statement for the Ronguen deposit is estimated to contain 23,000 ounces of gold in the Measured and Indicated categories in fresh rock (483,000 tonnes grading 1.51 gpt Au) and 44,000 ounces of gold in the Inferred category (754,000 tonnes grading 1.83 gpt Au), at a cut-off grade of 0.7 gpt Au.
2.Source: High River Gold Mines Ltd. News Release dated April 25, 2012. A mineral resource estimate for the Bissa deposit was announced to be 2,991,000 ounces of gold in the Measured and Indicated categories (75,834,000 tonnes at a grade of 1.23 g/t Au) and 1,938,000 ounces of gold in the Inferred category (63,332,000 tonnes at a grade of 0.95 g/t Au).
3.Source: Roxgold Inc. News Release dated August 7, 2012. A mineral resource for the Yaramoko 55 Zone deposit was announced to be 354,000 ounces of gold in the Indicated category (617,000 tonnes at a grade of 17.8 g/t Au, using a cutoff grade of >2 g/t Au) and 306,000 ounces of gold in the Inferred category (1,244,000 tonnes at a grade of 7.7 g/t Au, using a cutoff grade of >2 g/t Au).
4.Source: Semafo Inc. News Release dated August 29, 2012.
5.Source: Semafo Inc. News Release dated December 11, 2012.
6.Source: Ampella Mining Limited News Release dated October 30, 2012. A mineral resource for the Konkera deposit was announced to be 1,500,000 ounces of gold in the Indicated category (30,000,000 tonnes at a grade of 1.6 g/t Au, using a cutoff grade of 1 g/t Au) and 1,600,000 ounces of gold in the Inferred category (31,800,000 tonnes at a grade of 1.6 g/t Au, using a cutoff grade of 1 g/t Au).
7.Source: Orbis Gold Limited News Release dated September 25, 2012. An initial Inferred mineral resource for the Nabanga project was announced to be 573,000 ounces of gold (1,800,000 tonnes at a grade of 10.0 g/t Au, using a cutoff of 5.0 g/t Au).