Goldrush Resources Ltd. (TSX VENTURE:GOD)(OTCQX:GDRRF)(PINK
SHEETS:GDRRF) ("Goldrush" or the "Company") is pleased to report
the assay results from a second group of 21 reverse circulation
("RC") holes of a 94 hole infill drilling program on the Company's
Ronguen Gold Deposit in Burkina Faso. Highlights of the drilling
results include:
-- 2.16 g/t Au over 25 metres and 1.35 g/t Au over 6 metres, in hole
KGRR11-182
-- 2.55 g/t Au over 11 metres, in hole KGRR11-183
-- 2.24 g/t Au over 12 metres, in hole KGRR11-196
-- 0.80 g/t Au over 20 metres and 1.53 g/t Au over 14 metres, in hole
KGRR11-181
-- 1.23 g/t Au over 17 metres, in hole KGRR11-185
-- 1.27 g/t Au over 15 metres, in hole KGRR11-176
All of the above intersections were located in the eastern or
far eastern half of the G1 grid, the eastern of two overlapping
grids at the Ronguen deposit, where the 21 drill holes were
collared within an east - west distance of 770 metres (from lines
570E to 1340E) and a north-south distance of up to 312 metres (from
stations 67N to -245S). The density of drill holes in this area is
designed to define and upgrade the oxide portion of the gold
mineralization in the Ronguen deposit to the indicated category in
preparation for an updated resource estimate anticipated to be
received in late Q1, 2012.
In addition, four holes were drilled on the parallel South Zone
with hole KGRR11-189 intersecting 1.4 g/t Au over 11 metres and
hole KGRR11-192 intersecting 1.55 g/t Au over 8 metres. Both
intersections occurred within 28 metres of the surface. The South
Zone mineralization was unknown at the time of the Company's 2008
resource estimate and will be included in the upcoming resource
estimate update.
Commenting on the assay results, Goldrush President and CEO Len
Brownlie said: "With 45% of the RC drilling assays from Ronguen now
received, we are very encouraged that we will have a significant
upgrade in both the classification and size of the Ronguen
resource. We now have both RC and core rigs drilling at Ronguen,
and a program of 1,285 metres of trenching to begin shortly. Prior
to the holiday break, we anticipate completing this phase of work
at Ronguen; up to 1,000 metres of core and RC drilling on the Salbo
permit; 6,500 metres of RAB drilling on the recently acquired
Pompoi permit, next to Roxgold's Yaramoko permit gold discovery;
and up to 3,500 metres of RAB drilling on the Rima permit.
Management will be travelling to the field to observe first-hand
several of these programs in the coming weeks."
Assay Results
Significant intersections are noted above and in the following
table:
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Gold
HOLE ID Line Station Grid(3) From To Interval Grade Vertical
---------------------------------------------------------------------------
(Grid (Grid Depth
Co-ord) Co-ord) (m) (m) (m)(2) (g/ Au/t) (m)(1)
---------------------------------------------------------------------------
KGRR11-176 1340 -245 G1 54 69 15 1.27 61.5
---------------------------------------------------------------------------
KGRR11-177 860 20 G1 11 20 9 0.91 13.4
---------------------------------------------------------------------------
and 26 33 7 0.89 25.5
---------------------------------------------------------------------------
KGRR11-179 1015 67 G1 40 47 7 1.76 33.3
---------------------------------------------------------------------------
KGRR11-180 1037.5 67 G1 30 43 13 1.03 29.9
---------------------------------------------------------------------------
KGRR11-181 1060 25 G1 9 29 20 0.80 16.5
---------------------------------------------------------------------------
and 40 54 14 1.53 40.7
---------------------------------------------------------------------------
KGRR11-182 1060 45 G1 8 33 25 2.16 17.8
---------------------------------------------------------------------------
and 41 47 6 1.35 38.1
---------------------------------------------------------------------------
KGRR11-183 1180 55 G1 11 22 11 2.55 12.6
---------------------------------------------------------------------------
KGRR11-184 1260 -30 G1 32 42 10 0.77 30.3
---------------------------------------------------------------------------
KGRR11-185 1180 -40 G1 1 18 17 1.23 7.8
---------------------------------------------------------------------------
KGRR11-189 610 -160 South Zone 28 39 11 1.40 27.4
---------------------------------------------------------------------------
KGRR11-192 570 -115 South Zone 3 11 8 1.55 5.4
---------------------------------------------------------------------------
KGRR11-193 935 -75 G1 54 59 5 1.67 48.9
---------------------------------------------------------------------------
KGRR11-194 935 -50 G1 31 34 3 3.77 28.1
---------------------------------------------------------------------------
KGRR11-195 935 -25 G1 21 28 7 1.41 21.2
---------------------------------------------------------------------------
and 67 91 24 0.82 68.4
---------------------------------------------------------------------------
KGRR11-196 1015 -85 G1 38 47 9 0.79 34.8
---------------------------------------------------------------------------
and 55 67 12 2.24 50.0
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(1) "Vertical depth" is the calculated depth to the centre of the
intersection.
(2) True widths are determined to be 90 to 95% of core intervals.
(3) All holes were drilled at an azimuth of 340 degrees.
Five of the twenty-one holes (KGRR11-178, -186, -187, -188 and
-191) encountered only anomalous gold values. These were peripheral
holes drilled off the southern portion of the main zone on grid G1
(hole KGRR11-178) or northeastern end of grid G1 (holes KGRR11-186
to -188) or southern extension of the South Zone (hole KGRR11-191).
Hole KGRR11-190, drilled off the northern periphery of the South
Zone did not encounter any mineralization.
Drill hole lengths varied from 35 to 131 metres; all holes were
drilled at inclinations of -50 to -60 degrees. A total of 1,468
metres was drilled in the 21 RC holes and continuously sampled at
one metre intervals for assaying. A surface plan showing the drill
hole locations is available at
http://goldrushresources.ca/properties/ronguen/.
Ronguen Deposit Mineralization
The Ronguen gold deposit is located within the northeastern part
of the highly prospective Birimian age Boromo greenstone belt in
Burkina Faso. The local geology at Ronguen is dominated by an east
northeast ("ENE") trending metasedimentary sequence consisting of
interlayered siltstone, mudstone and minor conglomerates that are
intruded by plugs, and narrow dykes and sills of gabbroic
composition. The Ronguen mineralized zone is located in the
structural footwall of a major ENE thrust fault which recorded a
tectonic transport direction towards the north. The mineralized
deformation corridor represents a major ENE trending high angle
reverse fault zone, dipping moderately to steeply towards the
south. Gold mineralization is found in both metasedimentary and
mafic intrusive rock; there are no obvious lithological controls
yet recognized at this epigenetic gold deposit. The gold
mineralization is associated with quartz-carbonate veins/veinlets
and with sulphides occurring as disseminations and patches, and in
veinlets. Two sets of gold-bearing quartz veins are developed:
subvertical shear veins parallel to the shear zone foliation and to
the shear zone boundaries, and subhorizontal extension veins. Small
quartz stockworks are present and represent a part of the gold
mineralization.
Quality Assurance/Quality Control
Goldrush maintains a rigorous quality control program involving
the use of certified standards from an accredited Canadian
laboratory, inserted blanks, and the use of repeat assays. Details
of Goldrush's quality control program were provided in the
Company's News Release #2010-13, dated October 25, 2010.
The SGS laboratory in Ouagadougou, Burkina Faso was used for
sample analysis. For its internal control, SGS inserted two
certified standards and one blank, and analyzed one random
duplicate for approximately each 25 samples submitted. For its
certified standard and blank samples included in the QA-QC
procedure, Goldrush averaged 11.0% of the total samples
submitted.
The drilling was contracted to Forages Technic-Eau/Burkina sarl
based in Ouagadougou, Burkina Faso.
Mr. Driffield Cameron, P.Geo., Director of Goldrush, is the
Qualified Person for this press release for the purposes of
National Instrument 43-101 and has reviewed the technical
information herein.
For further information on Goldrush Resources Ltd., shareholders
and other interested parties are invited to visit the Company's
website at www.goldrushresources.ca.
ON BEHALF OF THE BOARD OF DIRECTORS,
GOLDRUSH RESOURCES LTD.
Len Brownlie, President and Chief Executive Officer
About Goldrush: Goldrush is a Canadian mineral exploration
company which has successfully focused on gold exploration in West
Africa, where the company has discovered, and is currently
expanding and defining the 249,000 ounce (inferred resource of 5.9
million tones at a grade of 1.31 g/t Au) Ronguen gold deposit in
Burkina Faso.
About Burkina Faso: Burkina Faso is a politically and
economically stable West African democracy that relies on farming
and mining as it primary sources of foreign exchange. Burkina Faso
saw gold production double from 2008 to 2010 and is currently the
fifth largest gold-producing country in Africa. Control Risks, a
global consultancy specializing in political, security and
integrity risk, ranked Burkina Faso #3 in their 2011 World Risk
Survey - countries with least risk. The World Risk Survey asked
respondents to rank their perception of risk in the following
categories: financial risk, sovereign risk, land access, green
tape, land claims, red tape, social risk, infrastructure, civil
unrest, natural disasters and labour relations.
FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of Section 21E of
the United States Securities Exchange Act of 1934, as amended.
Except for statements of historical fact relating to the company,
certain information contained herein constitutes forward-looking
statements. Forward-looking statements are frequently characterized
by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate" and other similar words, or statements
that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. These factors
include the inherent risks involved in the exploration and
development of mineral properties, the uncertainties involved in
interpreting drilling results and other geological data,
fluctuating metal prices, the possibility of project cost overruns
or unanticipated costs and expenses, uncertainties relating to the
availability and costs of financing needed in the future and other
factors. The Company undertakes no obligation to update
forward-looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to
place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Goldrush Resources Ltd. Don Willoughby VP Corporate
Developmentinfo@goldrushresources.cawww.goldrushresources.ca
Patrick Piette (416) 815-0700 Ext. 267ppiette@equicomgroup.com Joe
Racanelli (416) 815-0700 Ext.
243jracanelli@equicomgroup.comwww.equicomgroup.com
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