Two company owned drill rigs operating
Previous results include 10m @ 8.8g/t Au, 7m @ 5.3 g/t Au and 20m @ 3.1
Initial drill holes to test high-grade shoots in Sondana Vein
Veins have strike-lengths up to 2.3 Km
VANCOUVER, June 21, 2011 /CNW/ - Golden Peaks Resources Limited (the
Company) (TSX:GL) is pleased to update drilling on the Tanoyan Gold
Project on Sulawesi Island, Indonesia. The company has completed 1877
meters (15 drill holes) of the initial 5000 meter drill program.
The first holes tested for extensions of high-grade mineralisation
intersected previously within the Sondana Vein in hole TND002 (Figure
1)(http://www.goldenpeaks.com/i/maps/image003.jpg) which intersected four zones of mineralisation, including 10m @ 8.81 g/t Au from 31m and 20m @ 3.1 g/t Au from 138m
Currently there are 2 drill rigs operating around the clock on the
project, the second drill rig was moved from Palopo to Tanoyan in early
May to accelerate the drilling. This is allowing work crews on the
Palopo gold project to map the possible extension of Mangkaluku vein
system prior to the proposed drill program.
They are now a total of 62 employees, including 50 locals associated
with the exploration/drilling program at Tanoyan.
This press release has been reviewed and approved by Mr. John Levings,
B.Sc., MAusIMM, director of Reliance Resources Limited and a Qualified
Person as defined by National Instrument 43-101, under whose direction
the exploration programs are being carried out.
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
SOURCE Golden Peaks Resources Ltd.
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