Gold Reach Resources Ltd. Announces Assay Results for Holes S14-202 to 205
Sep 9 14
Gold Reach Resources Ltd. announced that assay results for holes S14-202 to 205 from the West Seel deposit, have been received. The West and East Seel deposits are located 4 kilometres south-southwest of the company's Ox deposit. All 3 deposits occur on the company's 100% owned Ootsa Property located south of Smithers British Columbia, adjacent to the operating Huckleberry Mine. Hole S14-203 intersected 872.8 metres of continuous mineralization starting at 3.2 metres depth and extends mineralization 400 metres down dip to the north. Hole S14-205 successfully extends near surface mineralization 100 metres to the north, and encounters near surface mineralization starting 33 metres down hole. The 2014 drilling program at the Ootsa project has focused on delineating the extent of the large West Seel deposit. The drill is currently testing several high grade silver base metal vein targets located east of the Seel deposit. Holes S14-203, 204, and 205 tested the northern part of the West Seel deposit and all 3 holes intersected mineralization as summarized in the table below. Hole intersected low-grade mineralization through its entire length from 2.3 metres depth to 876 metres depth, with a near surface zone of stronger mineralization containing 29.8 metres grading 0.31% copper, 0.32 g/t gold, 8.94 g/t silver, and 0.013% molybdenum (0.66% copper equivalent) from 3.2 to 33 metres depth. This occurs within a zone 163.8 metres wide containing 0.2% copper, 0.13 g/t gold, 5.04 g/t silver and 0.015% molybdenum (0.40% copper equivalent). Hole S14-204 intersected 381 metres grading 0.19% copper, 0.13 g/t gold, 2.96 g/t silver, and 0.025% molybdenum (0.41% copper equivalent) from 366 metres to the end of the hole at 747 metres depth. The best grades in hole 204 occur within a breccia body intersected between 471.1 and 539 metres depth which returned 67.9 metres grading 0.24% copper, 0.12 g/t gold, 4.11 g/t silver, and 0.043% molybdenum (0.53% copper equivalent). The 2014 drilling program has now extended West Seel mineralization an additional 400 metres beyond previous drilling in a down dip direction to the north. Hole S14-205 tested the northeast part of the West Seel deposit and successfully extends near surface mineralization 100 metres to the northeast. The hole intersected a cumulative thickness of 206 metres of mineralization over its 495 metre length, starting at 33 meters depth in the hole. This includes 82 metres grading 0.22% copper, 0.15 g/t gold, 3.61 g/t silver, and 0.014% molybdenum (0.41% copper equivalent). **Cu Eq. (copper equivalent) has been used to express the combined value of copper, molybdenum, gold and silver as a percentage of copper, and is provided for illustrative purposes only. No allowances have been made for recovery losses that may occur should mining eventually result. Calculations use metal prices of $2.50/lb copper, $1,200/oz gold, $15 silver, and $10/lb molybdenum using the formula Cu Eq.% = Cu% + (Au g/t x 0.701) + (Ag g/t x 0.0087) + (Mo% x 4.01). Hole S14-202 tested the southeast part of the West Seel deposit and did not intersect significant zones of mineralization. Hole S14-202 was collard 100 metres south of previous hole S12-118 and was drilled toward the southeast whereas hole S12-118 was drilled toward the northwest into the center of the West Seel deposit and intersected 537 metres of 0.65% copper equivalent including 128 metres of 1.01% copper equivalent and ended in mineralization. The company anticipates encountering the boundary of the mineralized system in holes oriented away from the mineralized core of the deposit, as continue to define the edges of the system. Mineralization at the West Seel deposit has now been defined over an area 750 metres long by 400 metres wide, and to depths up to 1,000 metres, and the systems remains open to the southwest and at depth.
Gold Reach Resources Ltd. Intersects 73 Metres of 0.96% Copper Equivalent within 207 metres of 0.65% Copper Equivalent at West Seel
Sep 2 14
Gold Reach Resources Ltd. announced that assay results for holes S14-200 and S14-201 from the West Seel deposit have been received. The West and East Seel deposits are located 4 kilometres south-southwest of the company's Ox deposit and all 3 deposits occur on the company's 100% owned Ootsa Property located south of Smithers British Columbia adjacent to the operating Huckleberry Mine. Highlights: Hole S14-200 hits high grade and successfully filled in a gap between previous widely spaced intercepts in the central part of the West Seel deposit. Hole S14-200 intersected 207 metres of 0.65% copper equivalent from 324 to 531 metres depth, including 73 metres grading 0.96% copper equivalent. Long Mineralized Intercept: Hole S14-201 intersected 752 metres of 0.41% copper equivalent from 76 to 828 metres depth. This hole successfully extends mineralization hundreds of metres to the north. New Breccia Discovery: Hole S14-201 intersected a new breccia zone over a cumulative thickness of 321 metres and the hole ended in breccia. The breccia contains variably rounded clasts in a hydrothermal and intrusive matrix containing chalcopyrite and molybdenite and the higher grade zone of mineralization in the hole occurred within the breccia. Drilling Update: One drill is currently active on the Ootsa property working on the West Seel deposit. To date 10 holes have been completed during 2014 (holes S14-200 to 209) and the drill is currently working on hole S14-210. Assay results for holes S14-200 and 201 have been received and released. Samples from holes S14-202 to S14-209 have been sent to the lab and assay results will be released when received and interpreted.
Gold Reach Resources Ltd. - Shareholder/Analyst Call
Aug 27 14
Annual general meeting; and to discuss a review of the company's results and performance over the past year and discussion of the outlook for the company