(via Thenewswire.ca)
Vancouver, BC / TheNewswire / Golden Reign Resources Ltd. (the "Company" or "Golden Reign")(TSX-V: GRR ) is pleased to announce 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 (See Figure 1).
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 (SW Pit) and 11 holes were drilled at the Arras prospect (Central Pit) (see Figure 2) . 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 6 Months of Planned Open-Pit Mining Activity (West Pit)
In the area planned for initial mining activities, Golden Reign completed 9 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:
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
-SA16-MET-44 7.05 metres of 5.29 g/t gold and 6.2 g/t silver
-SA16-MET-38 & 39 intersected voids, tunnels from historical workings.
Previous Trenching results:
- SA12-TR-01 7.0 metres of 8.80 g/t gold and 24.4 g/t silver (Previously released, see PR June 6, 2012)
-SA12-TR-05 10.0 metres of 48.44 g/t gold and 40.1 g/t silver (Previously released, see PR May 24, 2012)
- SA12-TR-06 8.0 metres of 9.53 g/t gold and 12.3 g/t silver (Previously released, see PR June 6, 2012)
including: 4.0 metres of 17.49 g/t gold and 22.7 g/t silver
Other High-Grade Results within the West Pit - Initial 12 Months of Planned Open-Pit Mining Activities
Drilling results:
including: 1.6 metres of 49.35 g/t gold and 79.5 g/t silver; and
2.0 metres of 7.87 g/t gold and 42.4 g/t silver
Previous Trenching results:
including 8.0 metres of 8.85 g/t gold and 19.4 g/t silver; and
11.8 metres of 1.16 g/t gold and 5.0 g/t silver; and
7.0 metres of 6.11 g/t gold and 14.6 g/t silver.
SW Pit
One drill hole was cored in the SW 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 8.0 metres, returning 22.74 g/t gold and 63.4 g/t silver (Previously released, see PR September 19, 2013 ) . Sampling of exploration pit #1, situated within trench SA13-TR-13, returned 2.0 metres of 36.44 g/t gold and 111.0 g/t silver (Previously released, see PR September 19, 2013 ) . Additional work is planned by the Company in order to expand the SW Pit.
Other Significant drilling results include:
including: 0.4 metres 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
including: 0.6 metres 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
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
including: 2.5 metres of 16.84 g/t gold and 10.5 g/t silver
including: 1.1 metre of 29.60 g/t gold and 72.6 g/t silver
-SA16-MET-35 1.0 metre of 34.00 g/t gold and 56.8 g/t silver
-SA16-MET-12 0.9 metres of 10.70 g/t gold and 27.9 g/t silver
-SA16-MET-11 0.8 metres 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 Table 1.
Previous assay results included other significant high grade drill intercepts for both the San Albino prospect (West Pit) and Arras prospect (Central Pit) ( See PR dated May 12, 2016) .
Company's Qualified Person
John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release.
On behalf of the Board,
"Kevin Bullock"
Kevin Bullock, P.Eng.
CEO
For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com .
Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available.
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this news release.
Figure 1:
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Figure 2:
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Table 1: Significant Near-Surface Drill Intersections
Drill
Hole
| From
(metres)
|
To
(metres)
|
Width
(metres)
|
Au
(g/t)
|
Ag
(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 1 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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