Summer 2006 Exploration Program
July 19, 2006
July 19th 2006 – Vancouver, BC – Gold Reach Resources Ltd. (TSX.V: GRH) has commenced its summer exploration program on the Seel Property 8 km east of the Huckleberry mine in central British Columbia. 10 km of line cutting has been completed with a 3D Induced Polarization (“IP”) geophysical survey being scheduled for the first week of August. A 4,000 metre drill program will follow.
Approximately 3,000 metres of the drill program is planned to expand and further define the resource surrounding Holes S06-24 and S05-08. Hole S06-24 (see news release dated March 10, 2006) that intersected 113.5 metres grading 0.35% Cu and 0.38 g/t Au from 12.2 to 125.7 metres included 19.5 metres grading 0.51% Cu and 0.52 g/t Au from 64.2 to 83.7 metres. Hole S05-08 (see news release dated February 10, 2005) intersected 102.1 metres grading 0.44 % Cu and 0.48 g/t Au.
The Company will also drill 1,000 metres to define and delineate the Damascus Silver Vein on the Seel Property with the intention of bringing it into NI 43-101 compliance. (see news release dated April 4, 2006).
The historical mid 1980's mineralization inventory on the Damascus Silver Vein reported in the Minfile database of the British Columbia Ministry of Energy and Mines reports an inferred resource of 196,087 tonnes grading 411.3 g/t silver, 0.47 g/t gold, 2.58 % lead and 4.63% zinc to a depth of 100 metres and an indicated resource of 20,735 tonnes with the same grades to a depth of 20 metres. The Company cautions that all figures are historical in nature, not NI-43-101 compliant, and should not be relied upon.
The Company has drilled 32 diamond drill holes on a 4 km by 1.5 km IP target on the property, resulting in the discovery of a mineralized porphyry system. The currently defined copper-gold-molybdenum mineralizing system extends approximately 1 km in length by 500 metres in width and from surface to greater than 200 metres in depth.
Consolidated Abaddon will continue to hold a 10% interest in the Seel Property by participating in this current program (see news release dated June 5, 2006)
Gold Reach Resources is a Canadian exploration company actively involved in the development of the “Seel” Property” a 8,446 hectare copper-gold–molybdenum property located 120 kms south of Houston, BC and 8 km to the east of the producing copper-gold-molybdenum Huckleberry Mine.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, please contact:
Gold Reach Resources
Toll Free 888-500-4587