Vancouver, British Columbia (February 26, 2013) - Goldrush Resources Ltd. (TSX-V: GOD) (Goldrush or the "Company") would like to highlight the recent announcements of SEMAFO Inc. and Roxgold Inc. in the immediate area of the Company's Pompoi permit. On February 21, 2013, SEMAFO reported an initial high grade in-pit inferred resource at the Siou deposit: 999,200 ounces of gold averaging 4.62 g Au/t contained within 6.7 million tonnes, and located approximately 10 kilometres northwest of Pompoi7. In January, Roxgold reported additional deep, high grade drilling results from its 55 Zone deposit (which contains an indicated resource of 354,000 ounces at a grade of 17.8 g/t Au and an inferred resource of 306,000 ounces at a grade of 7.7 g/t Au1), located 2.5 kilometres west of the Pompoi permit, with the host structure striking toward the Goldrush permit and the mineralization plunging easterly as well2.
Len Brownlie, President and CEO of Goldrush, noted: "Recent drilling successes by both Roxgold and SEMAFO on structures located immediately west and adjacent to the Company's Pompoi permit highlight the prospectivity of the Pompoi permit and confirm the advantageous location of this permit. While Goldrush remains focussed on expanding its flagship Ronguen Gold Deposit, we consider Pompoi a particularly high priority target for near term exploration efforts."
Key Location Details
Goldrush's Pompoi permit covers a 232 sq. km. portion of the Hounde greenstone belt of western Burkina Faso, approximately 180 kilometres west of the capital, Ouagadougou. A 60 kilometre stretch of this 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. The high grade gold resources which have been delineated in the 55 Zone deposit at Roxgold's Yaramoko project and the new Siou high grade gold resource of SEMAFO have increased this attention considerably.
The Pompoi permit is located about 2.5 kilometres east of Roxgold's 55 Zone gold deposit that strikes easterly towards Pompoi and is interpreted to be plunging easterly as well. On January 8, 2013, Roxgold announced further drilling results on the 55 Zone confirming the presence of gold mineralization to a depth of 857 metres with hole YRM-12-DD-253 intersecting 18.9 g/t Au over 1.34 metres, extending the plunge of the deposit by approximately 150 metres to the east, towards the western boundary of the Pompoi permit2.
Unsurprisingly, Roxgold has recently successfully completed a $10 million financing to enable continued exploration of the 55 Zone and additional targets on the Yaramoko permit3.
Key Technical Information
Soil samples taken by Goldrush over about 30% of the southwestern portion 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 RAB 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.
In addition to the potential extensions of the easterly trending structures containing the 55 Zone gold deposit on the Yaramoko permit, an interpretation of the regional airborne magnetometer survey which covers the northern parts of the Pompoi permit suggests the occurrence of a structural regime of northeasterly trending faults and/or shear zones and folding similar to that seen at SEMAFO Inc.'s Mana Mine.
Additional proximal mineralization to Pompoi lies to the northwest on the Mana Est permit where SEMAFO has discovered the high grade Siou deposit (with assays up to 12.56 g/t Au over 12 metres4, 27.71 g Au/t over 2.0 metres and 23.99 g Au/t over 2.8 metres6) at a distance of approximately 10 kilometres from the Pompoi permit boundary. The Siou zones are located along the Kokoi Trend, a north northeast trending approximately 30 kilometre long magnetic lineament, adjacent to a granodiorite - greywacke contact about which the gold zones are located.
On February 21, 2013, SEMAFO announced its initial high grade in-pit inferred resource containing 999,200 ounces of gold grading 4.62 g Au/t within 6.7 million tonnes7. The resource is contained within a pit shell approximately two kilometres long and 250 metres deep, constrained by the paucity of deeper drilling assay results from the Phase 1 delineation drilling program at Siou. Six different zones were intersected in the hanging wall of the main Siou Zone. SEMAFO's aggressive 2012 exploration budget, which included drilling to within about two kilometres of the Pompoi permit, had been augmented by $1 million for drilling at Siou to help fulfill its objective to include the deposit in its 2013 reserve base, and to fast-track the deposit towards an eventual production decision5.
While the northern portion of the Pompoi permit has not yet received a soil geochemistry survey, Goldrush has identified in the northern part of the currently soil sampled area a northerly oriented gold anomaly that spans a north-south distance of 2,000 metres and an east-west distance of 1,400 metres, with the most westerly portion approximately two kilometres east of the common Pompoi-Yaramoko-Mana Est permit boundary. This anomaly provides a high priority target for a future drilling program, in a promising area of the partly explored Pompoi permit.
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: 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).
2.Source: Roxgold Inc. News Release dated January 8, 2013
3.Source: Roxgold Inc. News Release dated August 7, 2013
4.Source: SEMAFO Inc. News Release dated August 29, 2012
5.Source: SEMAFO Inc. News Release dated December 11, 2012
6.Source: SEMAFO Inc. News Release dated February 7, 2013.
7.Source: SEMAFO Inc. News Release dated February 21, 2013. A mineral resource for the Siou Sector deposit was announced to be 999,200 ounces of gold in the Inferred category (6,731,000 tonnes at a grade of 4.62 g/t Au, using a cutoff grade of 1 g/t Au).