Golden Peaks Resources Ltd. - Continued High Grade Gold Drill Results at La Fortuna
Posted on: Tuesday, 21 February 2006, 12:00 CST
VANCOUVER, Feb. 21 /PRNewswire-FirstCall/ -- Golden Peaks Resources Ltd. (TSX Venture: GL) reports high-grade gold mineralization in hole LF-9 drilled on the T-11 zone (A Structure) on the La Fortuna project in Patagonia, Argentina. As well, bracket sampling has expanded the mineralized zone in hole LF-10 (T-11 zone).
------------------------------------------------------------------------- Hole Inter- Location Note Gold section From To ------------------------------------------------------------------------- g/t (m) (m) (m) ------------------------------------------------------------------------- LF-7(x) 3.65 50.00 4.00 54.00 Tr-11 25m test of T11 structure ------------------------------------------------------------------------- incl. 6.70 23.50 18.50 42.00 ------------------------------------------------------------------------- incl. 11.66 6.00 23.00 29.00 ------------------------------------------------------------------------- incl. 10.68 7.70 31.30 39.00 ------------------------------------------------------------------------- ------------------------------------------------------------------------- LF-9 2.05 62.70 6.30 69.00 Tr-11 50m test of T11 structure ------------------------------------------------------------------------- incl. 3.07 30.50 38.50 69.00 Undercut of LF-7 ------------------------------------------------------------------------- incl. 6.56 11.50 38.50 50.00 ------------------------------------------------------------------------- incl. 9.42 7.50 39.00 46.50 ------------------------------------------------------------------------- ------------------------------------------------------------------------- LF-8(x) 3.62 23.00 9.00 32.00 25m east 25m test of Tr-11 of T11 structure ------------------------------------------------------------------------- incl. 7.24 6.00 9.00 15.00 ------------------------------------------------------------------------- ------------------------------------------------------------------------- LF-10 2.35 68.36 12.20 80.56 25m east 50m test of Tr-11 of T11 structure ------------------------------------------------------------------------- incl. 7.69 16.80 12.20 29.00 Undercut of LF-8 ------------------------------------------------------------------------- incl. 10.58 8.30 20.70 29.00 ------------------------------------------------------------------------- incl. 8.88 1.90 52.10 54.00 ------------------------------------------------------------------------- ------------------------------------------------------------------------- LF-11(x) 5.72 38.00 3.00 41.00 50m east 25m test of Tr-11 of T11 structure ------------------------------------------------------------------------- incl. 10.90 10.30 19.50 29.80 ------------------------------------------------------------------------- incl. 18.34 5.15 23.35 28.50 ------------------------------------------------------------------------- incl. 10.08 6.02 33.53 39.55 ------------------------------------------------------------------------- ------------------------------------------------------------------------- LF-12(x) 3.30 13.00 7.00 20.00 75m east 25m test of Tr-11 of T11 structure ------------------------------------------------------------------------- incl. 6.42 3.65 7.00 10.65 ------------------------------------------------------------------------- ------------------------------------------------------------------------- LF-13(x) 3.97 23.90 59.00 82.90 Tr-11 75m test of T11 structure ------------------------------------------------------------------------- incl. 6.64 13.50 66.00 79.50 ------------------------------------------------------------------------- incl. 9.84 4.00 66.50 70.50 ------------------------------------------------------------------------- ------------------------------------------------------------------------- CRW-1 0.33 80.20 2.00 82.00 G zone North end of CR ------------------------------------------------------------------------- incl. 0.71 26.00 13.00 39.00 structure ------------------------------------------------------------------------- incl. 0.95 5.00 64.00 69.00 ------------------------------------------------------------------------- (x) Previously reported. Estimated true width factor: 91% for holes LF-7, LF-8 and LF-11; 75% for holes LF-9, LF-10 and LF-12.
In addition, hole CRW-1, was drilled at the north end of the CR structure (G Zone). The G zone is located approximately 1 kilometer from Trench 11. CRW-1 intercepted a wide zone of low-grade, shallow gold mineralization. This mineralized zone is located close to the intersection of the CR and A structures where a broad area of high chargeability/sulphidic alteration, approximately 2.0 X 2.0 km, is developed at the intersection of the two structures. Additional drilling is planned to follow up on this wide zone of mineralization.
The drill contractor is Connors Argentina S.A. Split core samples are assayed by Alex Stewart (Assayers) Argentina S.A., a certified ISO 9002 laboratory. In accordance with the Company's QC/QA policy all high grade samples will be check assayed at a different laboratory.
The ongoing drill program is testing gold mineralization on the A, CR and CB structures.
This press release has been reviewed and approved by Dr. Kieran Downes, P.Geo., President of Golden Peaks Resources Ltd. and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out.
Media Information, contact: Investor Information, contact: Scott Emerson, Chairman and Director Mike Kordysz, Investor SE@goldenpeaks.com Communications MK@goldenpeaks.com The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
Golden Peaks Resources Ltd.
CONTACT: Media Information, contact: Scott Emerson, Chairman andDirector, SE@goldenpeaks.com; Investor Information, contact:Mike Kordysz, Investor Communications, MK@goldenpeaks.com
Source: PRNewswire-FirstCall
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