Vancouver, British Columbia /
February 28, 2014 / ACCESSWIRE / Goldrush
Resources Ltd. (TSX-V:
GOD) ("Goldrush" or the "Company") is pleased
to announce that it has recently received a three year
renewal of it's Pompoi exploration permit from the Ministry of
Mines, Quarries and Energy of Burkina Faso. The 232 square
kilometer permit is located in west central Burkina Faso, 180
kilometres west of the capital Ouagadougou, and covers a part of
the north portion of the Hounde greenstone belt. It is bracketed by
Endeavour Mining Corporation's ("Endeavour Mining") Vindaloo
deposit to the south, Roxgold Inc's ("Roxgold") 55 Zone deposit to
the west, Semafo Inc's ("SEMAFO") Mana deposits to the west and
northwest, and SEMAFO's Siou deposit to the north.
Burkina Faso has seen nine new gold mines begin production
since 2007, and fourteen recent significant gold discoveries have
been made during that time. Burkina Faso, which is one of Africa's
most stable democracies, is the continent's third largest state for
gold exploration and the fourth largest for gold
production.
Gold production in the Hounde North area started in 2008 with
the Mana deposits, which were followed in late 2013 by the
commencement of mining of the Siou deposit. In November 2013,
Endeavour Mining reported a a positive feasibility on the Vindaloo
deposit, and Roxgold reported a positive preliminary economic
assessment on the 55 Zone deposit in September 2013. Roxgold has
reported that a feasibility study is in progress and is targeted
for release in the second quarter of 2014, both of which may
augment gold production in the area.
Commented Len
Brownlie, President and CEO of Goldrush:"Recent drilling successes by both Roxgold and
SEMAFO on structures located immediately west of and adjacent to
the Company's Pompoi permit underscore the prospectivity of the
Pompoi permit and confirm the advantageous location of this permit.
While Goldrush remains focussed on developing its flagship Ronguen
Gold Deposit, we consider Pompoi an excellent target for near term
exploration successes."
Key Technical
Information
Initial exploration work at
Pompoi [see Goldrush News Release dated February 1, 2012 for
complete QA/QC procedures] included widely spaced soil samples
taken by Goldrush over about 30% of the southwestern portion of the
Pompoi permit which provided a number of anomalies which were
inadequately tested with rotary air blast ("RAB") drilling because
of extensive laterite, laterite gravel and a high water table. Gold
mineralization in the vicinity of the highest soil value of 983 ppb
was confirmed in quartz veined granite saprolite (the main host
rock reported by Roxgold of the 55 Zone deposit) at the western
boundary of the Pompoi permit adjacent to Roxgold's discovery. The
last hole of RAB drill fence #1 confirmed the validity of the high
soil sample value in saprolite (weathered bedrock) with an
intersection of 0.47 g Au/t over 2.0 metres, which is open in all
directions and which may represent deposit peripheral
mineralization.
The Roxgold 55 Zone deposit
represents proximal mineralization to the Goldrush Pompoi permit
and is located to the west on Roxgold's Yaramoko permit where the
55 Zone strikes and plunges easterly at the north-south Yaramoko
boundary at a distance of approximately 1.7 kilometres.
Additionally, the Bagassi South zone, 1.8 kilometres south of
Roxgold's 55 Zone strikes southeasterly towards Pompoi and its
orientation appears to be controlled by an elongated granitic body
intruded into the greenstone belt.
Additional significant local
mineralization to Pompoi lies to the northwest on the Mana Est
permit where SEMAFO reported that it discovered and placed into
production the high grade Siou gold deposit, approximately 10
kilometres from the Pompoi permit boundary. The Siou zones are
located along the Kokoi shear zone, part of a north northeast
trending approximately 30 kilometre long magnetic lineament
immediately west of the Siou granodiorite along its contact with a
greywacke sequence.
SEMAFO recently reported that
auger drilling results from an extensive, on-going program by it on
the eastern side of the Siou granodiorite provided a continuous
north to northeasterly linear trend of gold geochemical anomalies
over 15 kilometres, open in both directions. Regional geologic
mapping and geophysical interpretation has extended the Siou body
southerly to the latitude of the northern boundary of the Pompoi
permit. The anomalous trend as reported by SEMAFO is within about
850 metres of the west boundary of the north portion of the Pompoi
permit.
While the northern portion of
the Pompoi permit has not yet received a soil geochemistry survey,
Goldrush has identified in the northern part of the currently soil
sampled area a northerly oriented gold anomaly that spans a
north-south distance of 2,000 metres and an east-west distance of
1,400 metres. The most northerly portion of the anomaly is 800
metres south of SEMAFO's Pompoi North permit which is underlain by
the east side of the Siou granodiorite and which is coincident with
a not closed-off, 15 kilometre long gold anomalous trend as
reported by SEMAFO. This anomaly provides a high priority target
area for a future exploration program, in a promising area of the
partly and preliminarily explored Pompoi permit.
Future exploration including closely spaced airborne
magnetometer, radiometric and possibly (VLF) electromagnetic
surveys followed by ground truthing geologic mapping, sampling and
prospecting would provide additional information on which to help
base an air core or reverse circulation drilling program, both of
which would be able to penetrate the difficult surface
conditions.
Corporate Update
The Company continues to investigate opportunities for
maximizing the value of its exploration permits, including
financing future exploration through joint venture arrangements or
by the sale of exploration permits.
Attendance at the Prospector and
Developers Association of Canada "(PDAC") Investors Exchange
Goldrush management will be exhibiting at booth #2600A at the
PDAC Investors Exchange in Toronto, Ontario on March 2 and 3, 2014.
Shareholders and interested investors are encouraged to visit the
booth to learn more about management's 2014 plan for the
Company.
Disclaimer
A number of mineral
resources, significant
occurrences and economic studies noted herein relate to nearby
properties owned by other companies, and the data presented have
been extracted from these companies' press releases and websites. A
Qualified Person has been unable to verify this information from
the adjacent properties, and such results are not necessarily
indicative of potential quantities or grades of mineralization on
the Company's properties.
Mr. Driffield Cameron, P.Geo., a director of Goldrush, is
a Qualified Person, as defined in National Instrument 43-101
Standards of Disclosure of Mineral
Projects, and has reviewed the scientific technical
and technical information contained 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"
Len Brownlie - President and Chief
Executive Officer
Contact
Information:
Len Brownlie, President and CEO: info@goldrushresources.ca
1-604-602-9973
About Goldrush:
Goldrush is a
Canadian mineral exploration company, focused on gold exploration
in Burkina Faso, West Africa.
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, and include, without limitation, statements regarding
the Company's plans with respect to exploration and development,
future financings, the sale or joint venture of some of the
Company's exploration permits and the consolidation of the
Company's share capital. 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.
Goldrush Resources Ltd. (TSXV:GOD)
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