Mr. Kevin Bullock reports
SAN ALBINO DRILLING RETURNS HIGH-GRADE INTERCEPTS -- INCLUDING 6.9 METRES OF 14.45 G/T GOLD, 8.0 METRES OF 8.42 G/T GOLD AND 4.8 METRES OF 16.87 G/T GOLD
Golden Reign Resources Ltd. has released final assay results from the now-completed, combined metallurgical/infill drilling program on its wholly owned San Albino gold deposit, located in Nueva Segovia, Nicaragua.
Drilling was focused at the proposed San Albino open-pit mine area. In all, 56 diamond drill holes were cored over 2,175.3 metres.
A total of
44 holes targeted the
San Albino prospect (west pit),
one drill hole was completed on the south slope of San Albino hill (southwest pit) and 11 holes were drilled at the
Arras prospect (central pit). This drill program targeted the shallow-dipping, high-grade-mineralized zones -- starting at surface to an approximate depth of 60 metres. Golden Reign has improved the continuity and confidence of the mineralized zones.
Area of initial six months of planned open-pit mining activity (west pit)
In the area planned for initial mining activities, Golden Reign completed nine metallurgical/infill drill holes to test continuity of the mineralization and extend the outer limit of the proposed open-pit mine.
Drill results to date correlate strongly with prior trenching results from the eastern slope of San Albino hill:
Drilling results:
- SA16-MET-40 -- 8.1 metres of 4.30 grams per tonne gold and 12.1 g/t silver
including: 2.7 metres of 10.69 g/t gold and 22.5 g/t silver;
- SA16-MET-41 -- 2.2 metres of 4.88 g/t gold and 13.1 g/t silver;
- SA16-MET-42 -- 1.15 metres of 10.90 g/t gold and 24.4 g/t silver;
- SA16-MET-43 -- 4.55 metres of 8.57 g/t gold and 14.7 g/t silver;
- A16-MET-44 -- 7.05 metres of 5.29 g/t gold and 6.2 g/t silver;
- SA16-MET-38 and 39 intersected voids, tunnels from historical workings.
Previous trenching results:
-
SA12-TR-01 -- seven metres of 8.80 g/t gold and 24.4 g/t silver
(previously released, see news release dated June 6, 2012);
- SA12-TR-05 -- 10.0 metres of 48.44 g/t gold and 40.1 g/t silver
(previously released, see news release dated May 24, 2012);
- SA12-TR-06 -- eight metres of 9.53 g/t gold and 12.3 g/t silver
(previously released, see news release dated June 6, 2012)
including: four metres of 17.49 g/t gold and 22.7 g/t silver;
- SA13-TR-18 -- 5.4 metres of 7.72 g/t gold and 9.01 g/t silver.
Other high-grade results within the west pit -- initial 12 months of planned open-pit mining activities
Drilling results:
-
SA16-MET-31 -- 6.9 metres of 14.45 g/t gold and 40.0 g/t silver
including: 1.6 metres of 49.35 g/t gold and 79.5 g/t silver; and
two metres of 7.87 g/t gold and 42.4 g/t silver;
- SA16-MET-32 -- 0.7 metre of 13.50 g/t gold and 15.0 g/t silver;
- SA16-MET-33 -- 1.15 metres of 10.90 g/t gold and 24.4 g/t silver.
Previous trenching results:
-
SA13-TR-17 -- 29.8 metres of 4.32 g/t gold and 11.6 m of silver
including eight metres of 8.85 g/t gold and 19.4 g/t silver; and
11.8 metres of 1.16 g/t gold and five g/t silver; and
seven metres of 6.11 g/t gold and 14.6 g/t silver.
Southwest pit
One drill hole was cored in the southwest pit (SA16-MET-45), which returned 5.6 metres of 4.04 g/t gold and 12.2 g/t silver, including
1.8 metres of 10.41 g/t gold and 21.9 g/t silver. This mineralized zone was
initially intersected during a 2011 drill program and further extended by trenching in 2013. In drill hole AR11-12 the mineralized zone started from surface and reached a depth of eight metres, returning 22.74 g/t gold and 63.4 g/t silver
(previously released, see news release dated Sept. 19, 2013). Sampling of exploration pit No. 1, situated within trench SA13-TR-13, returned two metres of 36.44 g/t gold and 111.0 g/t silver
(previously released, see news release dated Sept. 19, 2013). Additional work is planned by the company in order to expand the southwest pit.
Other significant drilling results include:
-
SA16-MET-23 -- eight metres of 8.42 g/t gold and 10.5 g/t silver
including: 0.4 metre of 30.40 g/t gold and 95.8 g/t silver; and
3.6 metres of 12.44 g/t gold and 8.34 g/t silver;
- SA16-MET-20 -- 4.8 metres of 16.87 g/t gold and 21.2 g/t silver
including: 0.6 metre of 16.90 g/t gold and 55.8 g/t silver; and
3.45 metres of 19.96 g/t gold and 17.3 g/t silver;
- SA16-MET-10 -- 5.3 metres of 13.51 g/t gold and 0.9 g/t silver
including: 2.4 metres of 17.13 g/t gold and 7.7 g/t silver; and
1.65 metres of 14.86 g/t gold and 7.3 g/t silver;
- SA16-MET-09 -- 4.4 metres of 10.27 g/t gold and 6.4 g/t silver
including: 2.5 metres of 16.84 g/t gold and 10.5 g/t silver;
- SA16-MET-21 -- 3.8 metres of 9.28 g/t gold and 22.7 g/t silver
including: 1.1 metre of 29.60 g/t gold and 72.6 g/t silver;
- SA16-MET-22 -- 3.8 metres of 4.15 g/t gold and 14.9 g/t silver;
- SA16-MET-35 -- one metre of 34.00 g/t gold and 56.8 g/t silver;
- SA16-MET-12 -- 0.9 metre of 10.70 g/t gold and 27.9 g/t silver;
- SA16-MET-11 -- 0.8 metre of 25.50 g/t gold and 17.9 g/t silver
(intercepted remainder of vein above historical workings).
Note
All grades presented are uncut and all thicknesses are core length. No top cut has been applied.
A complete list of significant results is shown in the associated table.
Previous assay results included other significant high-grade drill intercepts for both the
San Albino prospect (west pit)
and
Arras prospect (central pit)
(see news release dated May 12, 2016).
Company's qualified person
John M. Kowalchuk, PGeo, a geologist and qualified person (as defined under NI 43-101), has read and approved the technical information contained in this news release.
SIGNIFICANT NEAR-SURFACE DRILL INTERSECTIONS
Drill From To Width Au Ag
hole (metres) (metres) (metres) (g/t) (g/t)
SA16-MET-08 43.45 44.05 0.60 7.52 61.7
SA16-MET-09 40.70 42.00 1.30 15.50 11.0
42.00 43.20 1.20 18.30 10.0
43.20 44.10 0.90 0.07 1.1
44.10 45.10 1.00 3.03 0.8
SA16-MET-10 34.90 35.35 0.45 2.31 4.3
35.35 36.5 1.15 26.90 13.4
36.50 37.75 1.25 8.14 2.4
37.75 38.55 0.80 6.16 3.8
38.55 39.55 1.00 4.88 2.8
39.55 40.20 0.65 30.20 14.1
SA16-MET-11 32.50 33.30 0.80 25.50 17.9
SA16-MET-12 24.25 25.15 0.90 10.70 27.9
SA16-MET-17 2.25 2.70 0.45 1.40 1.4
SA16-MET-18 39.00 40.00 1.00 2.27 3.0
SA16-MET-19 42.80 43.80 1.00 9.19 40.6
43.80 44.85 1.05 5.31 43.9
SA16-MET-20 23.30 23.90 0.60 16.90 55.8
23.90 24.65 0.75 2.64 11.7
24.65 26.00 1.35 27.50 15.6
26.00 27.10 1.10 24.20 31.0
27.10 28.10 1.00 5.11 4.4
SA16-MET-21 35.60 36.70 1.10 29.60 72.6
36.70 37.50 0.80 0.35 1.5
37.50 38.50 1.00 0.17 2.0
38.50 39.40 0.90 2.50 3.4
SA16-MET-22 46.90 47.70 0.80 1.30 5.0
47.70 48.70 1.00 7.16 26.3
48.70 49.70 1.00 0.05 1.7
49.70 50.70 1.00 7.52 24.5
SA16-MET 23 36.50 37.40 0.90 1.45 2.2
37.40 37.80 0.40 30.40 95.8
37.80 38.90 1.10 2.27 8.4
38.90 39.90 1.00 6.60 7.0
39.90 40.90 1.00 12.10 11.1
40.90 41.70 0.80 12.60 5.7
41.70 42.50 0.80 20.00 9.2
42.50 43.50 1.00 0.17 0.9
43.50 44.50 1.00 6.42 3.9
SA16-MET-29 7.50 8.50 1.00 4.23 9.6
SA16-MET-30 7.50 8.50 1.00 21.40 46.8
SA16-MET-31 20.30 21.10 0.80 66.70 53.0
21.10 21.90 0.80 32.00 106.0
21.90 23.20 1.30 1.83 14.0
23.20 24.20 1.00 0.74 30.0
24.20 25.20 1.00 10.60 62.0
25.20 26.20 1.00 5.15 22.7
26.20 27.20 1.00 1.86 15.9
SA16-MET-32 16.30 17.00 0.70 13.50 15.0
SA16-MET-33 0.00 1.50 1.50 1.01 3.8
1.50 3.00 1.50 2.90 8.2
6.45 7.50 1.05 7.86 27.7
24.50 25.15 0.65 1.20 5.4
25.15 25.60 0.45 2.23 9.5
SA16-MET-35 7.65 8.65 1.00 34.00 56.8
12.50 13.50 1.00 4.94 16.3
SA16-MET-40 1.20 2.50 1.30 1.31 3.0
2.50 4.20 1.70 2.33 10.2
4.20 5.20 1.00 24.90 43.5
5.20 6.20 1.00 1.31 9.1
6.20 7.20 1.00 1.27 7.5
7.20 8.20 1.00 0.04 5.2
8.20 9.30 1.10 1.46 10.5
SA16-MET-41 0.00 1.00 1.00 8.42 18.8
1.00 2.20 1.20 1.94 8.4
SA16-MET-42 0.35 1.50 1.15 10.90 24.4
SA16-MET-43 0.25 1.50 1.25 14.00 16.2
1.50 3.00 1.50 6.02 10.6
3.00 3.80 0.80 13.10 29.3
3.80 4.80 1.00 1.98 7.1
SA16-MET-44 0.00 1.50 1.50 5.88 8.0
1.50 3.00 1.50 8.65 8.4
3.00 4.50 1.50 1.34 2.3
4.50 5.80 1.30 0.18 1.2
5.80 7.05 1.25 4.80 6.2
SA16-MET-45 6.90 8.00 1.10 1.53 4.6
8.00 9.20 1.20 6.61 15.2
9.20 9.80 0.60 18.00 35.2
9.80 10.70 0.90 0.58 5.1
10.70 11.70 1.00 0.96 10.2
11.70 12.50 0.80 0.89 11.2
Note
All grades presented are uncut and all thicknesses are core length.
No top cut has been applied. The results are based upon a one g/t
cut-off, with no more than 1.3 metres of internal dilution -- except
for drill hole SA16-MET-45 which was extended at under the cut-off
grade.
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