January 9, 2012: Vancouver, British Columbia: Gold Reach
Resources Ltd. (TSX?V:GRV) (Gold Reach and/or the Company) is
pleased to announce the results of a ZTEM survey flown in
2011 over its Auro South property, located in
central British Columbia. The 8,628 hectare Auro
South property is located 3 km southeast of the Auro
property, which is adjacent to New Gold's Blackwater gold
deposit.
A helicopter borne ZTEM and magnetic survey was flown over
the Auro South property in July 2011 covering an area
approximately 8 km by 10 km. The ZTEM survey has been used to
map conductive or resistive features in bedrock, which can
help target zones of hydrothermal alteration potentially
related to mineralization. The survey has identified several
linear conductive features on the property, in a number of
orientations, along with adjacent zones of high resistivity.
These linear features are possibly mapping out significant
fault zones, some of which could host hydrothermal alteration
within volcanic host rocks. Several conductive zones
correspond to magnetic lows and could represent alteration
and magnetite destruction within volcanic host rocks. One
prominent zone of conductivity cuts through a large magnetic
high that is interpreted to represent an intrusive body. This
target could represent an intrusive hosted zone of
hydrothermal alteration. Numerous large (km scale)
geophysical targets have been identified for surface follow
up exploration in 2012 which will include prospecting and
mapping, stream sediment and soil sampling.
In 2011 the Company drilled 3009 metres in 11 holes at the
14,370 hectare Auro property. This drilling identified a
large granodiorite intrusive body containing localized zones
of alteration and minor mineralization. Information learned
during the 2011 drilling has identified a prospective
corridor for volcanic?hosted Blackwater?style mineralization
outboard of the intrusive body. Within this prospective
corridor the Company has identified an 800 m by 400 m IP
chargeability anomaly located near the western border of New
Gold's property and is interpreted to be in the same rock
package that hosts New Gold's mineralization. This anomaly
has not been tested by drilling and remains a high priority
exploration target. The Auro property is adjacent to New
Gold's Blackwater deposit, which contains a
measured and indicated gold resource of 4.8 million ounces
plus an inferred gold resource of 1 million ounces. The
majority of the 100% owned Auro property and all of the 100%
owned Auro South property have seen very limited exploration
and contain geology considered to be prospective for
Blackwater style mineralization.
Dr. Shane Ebert, a qualified person under NI 43?101 has
approved this news release.
Conrad Swanson
Chairman
For Further information, please contact: Telephone:
604?718?5454
Toll Free: 888?500?4587
Investor Relations: 604 563 5028
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
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.
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