Gold Reach Releases Historical Data on its Silver Vein on their 100% Owned Ox/Seel Property
February 8, 2011
Vancouver, British Columbia: Gold Reach Resources Ltd. (GRV: TSX-V) (Gold Reach) is pleased to announce historical data on its Damascus Silver Vein on their 100% Owned Ox-Seel Property.
The Damascus Silver Vein is located 1.5 kilometers east of the Seel copper/gold/ molybdenum resource and has an identified strike length of 500 meters and was drill tested in 1983 by a 22 hole program to a maximum depth of 30 meters.
A geological report dated March 27, 1985. was prepared for International Damascus Resources Ltd, by the engineering firm IGNA and was authored by I. Borovic P.Eng. geologist and summarizes the exploration to date on the silver polymetallic shear/vein system.
The shear/vein system has been drill tested over 500 meters in strike length to a maximum depth of 30 meters and presently remains open along strike to the north and south and to depth. Of importance are 2 documented shear/veins that are parallel and lie to the west of the .
The following table with 3 of the drill holes represent drill testing over 150 meters of strike length and at least initially demonstrates the continuity of the shear/vein system:
DRILL HOLE TABLE (note in ounces)
|Drill Hole||Interval (m)||Thickness (m)||Ag (oz's)/t||Zn (%)||PB (%)|
|Ox-21||15.4 - 17-7||4.50||30.48||4.92||6.22|
|incl||16.3 - 17.2||2.90||45.16||6.72||7.10|
|also incl||17.4 - 17.2||1.80||66.80||8.60||13.90|
|Ox-37||20.4 - 22.1||1.70||22.00||6.26||3.52|
|incl||21.6 - 22.1||0.50||66.00||13.45||11.20|
|Interval includes 0.6 m 1 oz core|
|Ox-46||12.2 - 17.4||5.20||10.18||1.34||2.43|
|incl||12.7 - 16.8||3.90||12.53||1.04||2.07|
|incl||13.6 - 16.8||3.20||15.17||1.23||2.45|
The assays and depths are historical in nature and should not be relied upon and the company cannot independently confirm data in the IGNA engineering report dated March 27, 1985.
The silver polymetallic shear vein system lies on the 100% owned Ox/Seel copper/moly/gold porphyry project. These two porphyry zones comprise an 86 million tonnes (43-101 complaint) of porphyry mineralization 8 kilometres from the Huckleberry Mine; a recently completed radiometrics / magnetometer survey has identified 18 new copper / gold geophysical anomalies. The company has submitted 4 exploration permits on the Ox/Seel property, 1 for the Damascus Vein/Shear and the other 3 to start testing the 18 new anomalies.
Work is anticipated to commence in May of this year.
Technical information in this news release has been reviewed by Jim Cuttle P. Geo., a qualified person as defined in NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
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Safe Harbour Statement: The Company relies upon litigation protection for “forward-looking statements.” The Company undertakes no obligation to update these forward- looking statements in the managements beliefs, estimates obligations or other factors should change.