TORONTO, November 20 /CNW/ - Gold Reef International, Inc. (CNQ:GRIN)
announced today that it has received approval from the Elko Office of the
Bureau of Land Management (BLM) to conduct a drilling program on the Gold Reef
- Newmont Rimrock Exploration Prospect in Lander County, Nevada. As previously
reported (October 22, 2007) Gold Reef expanded its land position in the
Rimrock Project to approximately 10,138 acres including Newmont leases
totaling 5,991.05 acres and GRIN mining claims totaling 4,147 acres.
GRIN intends to conduct a multi-phase drilling program on the prospect
with the first phase to consist of eight core holes to test multiple targets.
GRIN intends to twin one drill hole completed in 1968, which reported
continuous gold/silver mineralization from 20 feet to 620 feet. GRIN will also
test multiple geophysical anomalies identified in its recently completed field
program that are coincident with geochemical anomalies. GRIN is in the process
of securing a core rig to drill the initial phase of the program, which is
currently anticipated to begin in January 2008.
About Gold Reef International, Inc.:
Gold Reef International, Inc. is a well-financed exploration company with
a growing portfolio of prospective precious metals properties in Nevada. Gold
Reef has five 100%-owned claim blocks totaling 14,147 acres and 5,991 acres of
leases from Newmont for a total of 20,138 acres in Elko and Lander counties.
In addition GRIN has recently completed a spectrometric ground survey and rock
chip sampling program on the southern portion of the Texas Canyon Project in
Elko County, Nevada to further test previously reported uranium/molybdenum
mineralization along northeast-trending structural zones. Results of the
spectrometric survey are very encouraging with positive indications of
possible mineralization along the structures. GRIN is anticipating assay
results back from the laboratory by mid-December.
Dr. Criss Capps, Gold Reef's Vice President of Exploration, is the
"qualified person" within the meaning of NI 43-101 and has reviewed the
technical contents of this press release on behalf of the Company.
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For further information:
For further information: Gold Reef International, Inc., San Antonio Lou
Kost, Jr., 210-821-6511 or Barry Kaplan Associates Andrew Kaplan,