Golden Reign Resources Ltd. is pleased to present the complete first fence drill results from the ongoing 2011 definition drilling program at the San Albino Mine area of its San Albino-Murra Property (the Property), Nicaragua.
The 2011 drill program is designed to test the entire area between the parallel San Albino and Arras prospects which represents approximately 2 square kilometres within the highly prospective 24 square kilometre Southern (San Albino) District of the Property. Initially, the planned 2011 diamond drill program was to consist of 40 to 60 holes of definition drilling, totaling between 6,000 to 10,000 metres across a series of five fences of drill holes. After several very encouraging drill holes, the Company redesigned and expanded the program, which now consists of roughly 70 drill holes totaling approximately 16,000 metres, to be drilled in six fences of drill holes located approximately 100 metres apart with holes spaced approximately 50 metres apart on section.
In all, twenty-nine drill holes were cored in the first fence at the San Albino Mine area during 2010 and 2011:
Multiple mineralized zones were encountered: San Albino, Arras, Arras II, El Jobo and Naranjo
Drilling to date has extended the strike length of the San Albino zone from 70 to 575 metres
Drilling has demonstrated the down dip continuity of the Arras zone mineralization, which underlies the San Albino zone
All zones remain open in both directions and at depth.
Drilling highlights from the last nine holes of the first fence include:
San Albino zone:
SA 11-23 3.5 metres of 11.65 g/t gold and 16.5 g/t silver
SA 11-24 3.5 metres of 13.20 g/t gold and 21.1 g/t silver
SA 11-25 2.0 metres of 14.75 g/t gold and 25.1 g/t silver
SA 11-22 1.5 metres of 11.52 g/t gold and 25.2 g/t silver
SA 11-23 1.8 metres of 22.75 g/t gold and 37.6 g/t silver
including 0.94 metres of 43.49 g/t gold and 69.7 g/t silver
SA 11-24 8.0 metres of 2.26 g/t gold and 11.9 g/t silver
including 1.0 metre of 12.05 g/t gold and 32.1 g/t silver
SA 11-25 2.0 metres of 5.87 g/t gold and 9.0 g/t silver
El Jobo zone:
SA 11-29 2.0 metres of 4.06 g/t gold and 7.3 g/t silver
SA 11-27 2.0 metres of 15.08 g/t gold and 15.3 g/t silver
SA 11-29 2.5 metres of 21.60 g/t gold and 17.4 g/t silver
including 0.5 metres of 107.82 g/t gold and 84.6 g/t silver
San Albino Zone
The San Albino zone is near-surface, at a vertical depth of approximately 40 to 130 metres, outcropping at the top of San Albino Mine hill. Only the southwest extension of the zone has been tested to date. The northeast extension will be drill tested in early 2012. While drilling is important to confirm the presence of mineralized zones, bulk testing provides for a much more accurate reporting of grades within such high-grade vein structures. Golden Reign plans to continue with the reopening of the 400 level of San Albino Mine in early 2012 in order to collect a bulk sample for metallurgical testing.
The Company's initial drill program in 2010 confirmed historical underground sampling in the San Albino Mine. The San Albino vein is the source of gold mineralization within the historic San Albino Mine, which was active for a limited period of time in the early 1920's reportedly producing 10 tons per day of 31 g/t gold. Drill holes SA 10-01 through SA 10-09 correlate strongly with historical underground sampling of the 200, 300 and 400 levels of the San Albino Mine. Systematic sampling in 1919 and 1935 recorded a grade of 24 g/t gold (0.70 ounces gold per ton) over a strike length of 70 metres and an average vein width of 1.33 metres on the 200 and 300 levels and a grade of 30.7 g/t gold (0.89 ounces gold per ton) over a strike length of approximately 70 metres and an average vein width of 1.25 metres on the 400 level.
The initial drill program also extended the strike length of the San Albino mineralized zone laterally to the southwest by 130 metres, from 70 to 200 metres. In 2011, the strike length of the San Albino zone was extended by an additional 375 metres to 575 metres. Disturbed by at least two cross-faults, the zone appears to have been shifted several times and only returned anomalous values in some faulted drill intercepts; however, these geochemical traces do indicate the continuity of the mineralized zone.
Read the full press release at http://www.goldenreignresources.com.