Gold Reach Resources Ltd. Receives British Columbia Exploration Permits
May 18 2011 - 8:30AM
Marketwired
Gold Reach Resources Ltd. (TSX VENTURE: GRH) -
Mr. Conrad Swanson reports:
Gold Reach has received approval from the Ministry of Mines to
commence exploration activities on both the 100% owned Auro and
100% owned Ootsa projects (formally Ox and Seel). The Auro project
is adjacent to the Richfield discovery, which is subject to a $550
million take over offer from New Gold (see news April 4, 2011).
The 2011 drill program at Auro will initially focus on three of
ten geophysical and geochemical anomalies identified from the
Company's 2010 field program (see news March 1, 2011). Camp
construction will start next week, after which an initial 2,500
metres of drilling will commence.
The Ootsa project is 8 kilometres southeast of the producing
Huckleberry mine and the property has two 43-101 resource
calculations completed in 2008 on the Ox and Seel porphyry zones.
In 2009 Gold Reach completed a property wide radiometrics and
magnetometer airborne survey that was critical in identifying
several promising and untested geophysical targets (see news
February 8, 2011). Camp construction will commence the first half
of June, followed by an initial 2,500m drilling program at the Seel
Breccia. This drilling will target potential high grade
copper-silver mineralization previously intersected in the steeply
plunging Seel Breccia along the junction of the flanking Seel
copper-gold porphyry zone at depth.
The company, pursuant to its stock option plan, has granted
incentive stock options to its various directors, officers and
consultants to purchase a total of 78,000 common shares in the
capital stock of the company, exercisable for a period of five
years, at a price of 50 cents per share, subject to the TSX Venture
Exchange approval.
Technical information in this news release has been reviewed by
Jim Cuttle, PGeo, a qualified person as defined in National
Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Conrad Swanson, President
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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
news release.
Contacts: Gold Reach Resources Ltd. Conrad Swanson President
604-718-5454 or Toll Free: 888-500-4587
Gold Reach Resourses Ltd Com Npv (TSXV:GRH)
Historical Stock Chart
From Jun 2024 to Jul 2024
Gold Reach Resourses Ltd Com Npv (TSXV:GRH)
Historical Stock Chart
From Jul 2023 to Jul 2024