VANCOUVER, Jan. 12 /CNW/ - Gold Reach Resources Ltd. (GRV: TSX-V) ("Gold Reach" or the "Company") is pleased to announce it has acquired a 100% interest in thirteen (13) new mineral claims consisting of 5,081 hectares directly adjacent to Richfield Ventures 'Blackwater' Bulk Gold Target.
Richfield Ventures recently announced on January 5, 2010 they had intersected 329 metres of 1.25 g/t Au and on September 29, 2009, 148 metres of 1.26 g/t gold including 23 metres of 2.22 g/t gold.
The recently acquired claims called the Auro Property are located four kilometres directly east and southeast of Richfield's discovery zone. Using public data from the Geological Survey of Canada the Company has identified an airborne magnetic high anomaly trending southeast from the Richfield discovery onto the new claims. The stronger part of this magnetic anomaly lies central to the claims and is approximately 6 kilometres long and 2 kilometres wide.
Conrad Swanson, President of Gold Reach states "I am pleased with the acquisition of the Auro Property and the fact that we are on trend with the Richfield discovery."
The terms for the property acquisition of a 100% interest requires a cash payment of $80,000 and the issuance of 150,000 common shares of the Company upon exchange approval.
Technical information in this news release has been reviewed by Jim Cuttle, P. Geo., a qualified person as defined in NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS 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 if the management's beliefs, estimates, obligations or other factors should change.
SOURCE Gold Reach Resources Ltd.
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