Last C$0.64 CAD
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Volume 16.0K
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As of 2:17 PM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

gold reach resources ltd (GRV) Snapshot

Open
C$0.66
Previous Close
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Day High
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Day Low
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52 Week High
10/11/13 - C$1.45
52 Week Low
07/3/14 - C$0.57
Market Cap
23.4M
Average Volume 10 Days
22.1K
EPS TTM
C$-0.07
Shares Outstanding
36.6M
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Current Stock Chart for GOLD REACH RESOURCES LTD (GRV)

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gold reach resources ltd (GRV) Details

Gold Reach Resources Ltd., an exploration stage company, is engaged in the acquisition, exploration, and development of mineral properties in British Columbia, Canada. The company explores for copper, gold, silver, and molybdenum prospects. It owns a 100% interest in the Ootsa property with 78 mineral claims covering approximately 47,559 hectares; and 100% interest in the Auro property comprising 19 claims covering approximately 21,892 hectares located in British Columbia. The company was incorporated in 1965 and is based in Vancouver, Canada.

Founded in 1965

gold reach resources ltd (GRV) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: C$144.0K
President and Director
Total Annual Compensation: C$170.0K
Chief Financial Officer, Director, Member of ...
Total Annual Compensation: C$60.0K
Compensation as of Fiscal Year 2014.

gold reach resources ltd (GRV) Key Developments

Gold Reach Stakes the White Gold Prospect; Provides Exploration Update for Ootsa

Gold Reach Resources Ltd. announced that 76.4 hectares covering the historic White Gold Prospect on the eastern side of the large Ootsa claim block has been acquired by staking. The White Gold Prospect occurs within and adjacent to several logging roads which provide easy access to the area and locally expose altered rocks within road cuts. The prospect was intermittently explored from 1983 to 1994 (prior to logging road access) with historic exploration work consisting of soil and rock sampling, mapping, prospecting and 13 short diamond drill holes. Historic work has defined a zone 350 metres by 130 metres containing alteration and quartz veining that remains open for expansion. Historic drilling, as described in a 1984 assessment report by Canamax Resources Inc., intersected numerous mineralized quartz veins with the best interval returning 3.1 g/t gold over 3.9 metres. The best historic surface sample was from a quartz and chalcedony vein which graded 7.8 g/t gold. These historic results have not been verified by Gold Reach and the results should not be relied upon. Gold Reach has obtained surface grab samples from quartz vein and breccia outcrops located adjacent to the newly acquired White Gold claim which have returned 1.63 and 2.02 g/t gold and field crews are currently conducting surface exploration at the zone. During 2014 Gold Reach will conduct surface mapping, rock channel sampling, and soil sampling to better understand and characterize the mineralization, and determine if drill targets can be identified. The company also announced exploration update for Ootsa. The 2014 Ootsa exploration program is underway and three holes have now been completed into the West Seel deposit (holes S14-200, 201, and 202). Hole S14-200 was targeted to fill in and extend a zone of known higher grade mineralization at depth located within the central part of the West Seel deposit and was drilled to a depth of 594 metres. Hole S14-201 tested a geophysical target on the northwest edge of the deposit near the contact between the main intrusive body and the sedimentary wall rocks to the intrusion. This hole was drilled to a depth of 951 metres and is intended to extend the known mineralized zone several hundred metres to the north. Hole S14-202 tested a geophysical target to the southeast of the West Seel deposit, on the southeast side of section 6NE, and was drilled to a total depth of 738 metres. The drill is currently working on hole S14-203, which is located roughly 100 metres north of hole S14-201, and aims to continue expanding mineralization to the north. Samples from holes S14-200 and S14-201 have been sent to the lab and assay results are pending. Field crews continue to work on drill access, rock and soil sampling, and geophysical line cutting. To date over 500 new soil samples have been collected during the 2014 season and soil grids have been completed over the North Damascus, East Damascus, Blackjack, and White Gold areas. The North Damascus soil grid defines a narrow north-south trending linear lead in soil anomaly that is 380 metres long and could be the northern extension of the Damascus Vein zone defined in historic drilling. The East Damascus soil grid defines a strong lead in soil anomaly that is 500 metres long by 100 metres wide. Both of these soil anomalies are elongate in a north south direction, parallel to the main vein trend in the area, and both are compelling drill targets for high grade silver-zinc-lead veins.

Gold Reach Resources Ltd. Announces 7,500 Metre Drilling Program to Commence at Ootsa Property

Gold Reach Resources Ltd. announced a 7,500 metre drilling program will commence on June 23 at the company's 100% owned Ootsa Property, located adjacent to the producing Huckleberry Mine south of Smithers, British Columbia. HIGHLIGHTS: up to 7,500 metres of core drilling - drilling will start on the West Seel deposit with one drill rig and will focus on expanding known zones of higher grade mineralization and defining the extents of the large West Seel deposit. Porphyry targets and high grade silver veins to be tested -- a second highly portable track mounted drill will be added to the project in July to test numerous targets outside of the known resource areas, including both large porphyry targets and high grade llver base metal vein targets. Ongoing Surface Exploration -- A surface exploration program consisting of soil sampling, induced polarization geophysics, mapping and prospecting, will continue on the property to advance known targets to te drill stage and continue to generate new targets. Drilling will initially start on the West Seel deposit and will focus on two objectives: testing the depth extent of known higher grade trends defined during previous drill programs, and delineating the extent of the deposit which still remains open to the north and south. The north side of the West Seel deposit contains mineralization that starts close to surface and there is good potential to add significant near surface tonnage in this area.

Gold Reach Resources Ltd. Announces Positive Metallurgical Results from the West Seel Deposit

Gold Reach Resources Ltd. announced results of metallurgical test work conducted on a large composite sample from the West Seel deposit at the Company's 100% owned Ootsa Property, located adjacent to the producing Huckleberry Mine south of Smithers, British Columbia. Highlights: Excellent Overall Metallurgical Results -- The West Seel deposit shows very good metallurgical results by conventional froth flotation recovery methods, with rougher flotation recoveries up to 95.1% for copper and 94.5% for molybdenum; Rapid Flotation Kinetics at West Seel -- The flotation kinetics of the West Seel material are rapid achieving >91% copper and molybdenum recoveries after only 6 minutes of flotation in a laboratory cell; Copper Concentrate -- A copper concentrate containing 24.3% copper, 8.92 g/t gold, and 200.9 g/t silver was obtained after 2 cleaning stages with overall recoveries of 89.2% for copper, 75.7% for gold, and 79.2% for silver; Molybdenum Concentrate -- A molybdenum concentrate grading 51.9% molybdenum was produced after 2 cleaning stages with overall molybdenum recovery of 79.7%. A pyrite scavenger flotation test was conducted and resulted in an additional 17% gold recovery in test F1, bringing total gold recovery up to 83.1% in that sample. This is a very significant increase in gold recovery for the West Seel deposit, which contains a pit constrained total of 409,000 ounces of gold in the measured and indicated categories plus an additional 1.1 million ounces of gold in the inferred category. A gold mineralogical study is underway to better understand the mineral associations and liberation size of gold in the sulphide matrix, and this information may help optimize gold recoveries. A copper separation test resulted in a second cleaner stage concentrate grading 24.3% copper, 8.92 g/t gold, and 200.9 g/t silver with overall recoveries of 89.2% for copper, 75.7% for gold, and 79.2% for silver. A molybdenum separation test resulted in a second cleaner stage concentrate grading 51.9% molybdenum with an overall molybdenum recovery of 79.7%. A third cleaning stage resulted in a molybdenum concentrate grade of 53.6%, however, overall molybdenum recovery was reduced to 54.9%. It was therefore recommended that only two stages of cleaning be employed in the molybdenum circuit. Based on the current metallurgical test work the predicted metallurgical recoveries are summarized in the table below. The West Seel deposit shows excellent copper recovery at 92.1% with molybdenum, gold, and silver recoveries in line with operating porphyry deposits. With the pyrite concentrate included, the overall recovery for gold would increase to 72.2% and for silver to 60.7%. Further test work on a larger sample, perhaps a pilot plant trial, would allow locked-cycle tests to be run to see how recirculating tails might increase overall recoveries.

 

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