Goldrush Resources Ltd. Provides Corporate Update of its Current Activities
Nov 19 13
Goldrush Resources Ltd. provided shareholders with the update of its current activities. Goldrush holds ten exploration permits on strategically located properties covering over 1,543 square kilometres in Burkina Faso, West Africa. Burkina Faso has seen seven new gold mines open since 2007, and fourteen recent gold discoveries have been made. Recent exploration success by Roxgold Inc. in the vicinity of Goldrush's Pompoi pemit, along with successful drilling campaigns by True Gold Mining Inc. on its Karma project, the recently announced merger of Volta Resources Inc, with B2Gold Corp. and the recent financing of Orezone Gold Corporation all provide evidence of the immense exploration and investment potential in Burkina Faso. In July 2012, with an effective date of May 18, 2012, Goldrush announced the filing on SEDAR of a technical report prepared in accordance with NI 43-101 on its Ronguen project titled 'Mineral Resource Technical Report Ronguen Gold Project, Burkina Faso' by SRK Consulting (Canada) Inc.' The report discloses that the deposit contains a 155,000 ounce Measured mineral resource (4.281 million tonnes at a grade of 1.12 g/t Au), 177,000 ounce Indicated mineral resource (4.206 million tonnes at a grade of 1.31 g/t Au), and 52,000 ounce Inferred mineral resource (890,000 tonnes at a grade of 1.85 g/t Au). Goldrush personnel continue to collect baseline environmental data from the Ronguen gold deposit in order to support future Environmental and Social Impact Assessment studies. A decision to initiate a preliminary economic analysis (PEA) of the Ronguen deposit has been delayed until early in the first quarter of 2014. The company continues to investigate alternatives for maximizing value for its exploration permits including financing future exploration through joint venture arrangements or by the sale of exploration permits.
Goldrush Resources Ltd. Auditor Raises 'Going Concern' Doubt
Apr 29 13
Goldrush Resources Ltd. filed its Annual on Apr 29, 2013 for the period ending Dec 31, 2012. In this report its auditor, De Visser Gray, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
Goldrush Resources Ltd. Reports Assay Results from Drilling Program at its Ronguen Gold Deposit in Burkina Faso, West Africa
Jan 21 13
Goldrush Resources Ltd. reported assay results from the latest drilling program at its Ronguen Gold Deposit in Burkina Faso, West Africa. Highlights of the program include: 3.13 g/t Au over 7 metres, in RC hole KGRR12-258, 2.22 g/t Au over 3 metres and 2.02 g/t Au over 5 metres, in RC hole KGRR12-256 and 1.87 g/t Au over 4 metres, in RC hole KGRR12-259. Eighteen reverse circulation (RC) drill holes totaling 1,045 metres tested shallow oxide mineralization associated with a previously undrilled 620 metre western extension of the North Zone. The North Zone consists of mineralization which responds to induced polarization resistivity surveying, and is subparallel to the Main Zone of the company's Ronguen Gold Deposit. The Main and South Zones of the Ronguen deposit currently have delineated 332,000 measured and indicated ounces averaging 1.22 g Au/t, and 52,000 inferred ounces averaging 1.85 g Au/t1 over a strike length of 1,700 metres. The majority (309,000 ounces of gold) of the measured and indicated resources are in the oxide category, and amenable to lower cost heap leach processing. To assist in the delineation of additional oxide resources, an induced polarization survey was completed over the Ronguen deposit, and interpreted with newly acquired software with the ability of three dimensional imaging. Analysis of the results provided excellent coincidence between the resource and high resistivity anomalism. Two identified adjoining resistivity anomalies with subparallel strike directions provide promising targets, with the western extension of the North Zone anomaly investigated by 18 shallow RC drill holes over a strike length of approximately 620 metres. Eight holes (from east to west: KGRR12-253, -256, -255, -254, -257, -258, -259 and 260) were drilled from Grid G1, line 880E, to Grid 2, line 590E, a distance of approximately 360 metres, to test the western extension of the resistivity anomaly axis that correlates with the North Zone mineralization to the east. Seven RC holes (from east to west:KGRR12-270, -261, -262, -263, -264, -265 and 269) tested a portion of the resistivity anomaly immediately to the southwest, from Grid G2, line 540E, to Grid G2, line 300E, a distance of about 260 metres. Three RC holes (from east to west: KGRR12-267, -266 and -268) tested the resistivity anomaly trending northwesterly from Grid G2, line 470E,to Grid G2, line 350E, a distance of 120 metres. Grid G1 is the eastern-most while Grid G2 is the western-most of the two overlapping grids at the Ronguen deposit. A shallow test of the North Zone gold mineralization and associated resistivity anomalism was completed on each section. Nine holes intersected the metasediment-diorite contact which is an important rheologic control for the gold mineralization at Ronguen. Eight of the holes (KGRR12-254, -260, -261, -262, -266, -267, -268 and -270) which failed to intersect this contact did not contain gold values above a 0.4 g/t Au level, although only holes -260, -266, -268 and -270 were devoid of gold. Perterbations along the metasediment-diorite contact may have been responsible for it not having been intersected and tested by the short drill holes.