Golden Peaks Resources Ltd. - Drilling to focus on the T-11 & G gold zones

VANCOUVER, Dec. 3 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL) (the "Company") is pleased to report, it has completed a geostatistical analysis of the geochemistry of the mineralized systems present on the La Fortuna Gold Project, Argentina.

Geostatistics is a branch of statistics focusing on spatiotemporal datasets. Developed originally to predict probable distributions for mining operations, it is currently applied in diverse disciplines including geochemistry.

Chemical analyses of samples from all of the zones were evaluated by several geostatistical methods. The significant conclusions are:

    
    1.  The mineralization is categorized as low sulphidation type.

    2.  The greatest enrichment in gold is found in the T-11, G and CR zones
        where the gold to silver ration is 1:1. The enrichment is associated
        with higher mineralizing temperatures likely focused by the
        intersection of the A and CR Structures.

    3.  Regression analysis identified a distinctive population of high value
        gold assays associated with high copper values. In the T-11/G/CR
        zones this gold population is associated with quartz veins/breccias
        the roots of which are the primary targets of the planned drill
        program.

    4.  The most prospective areas are in the northwest: T-11, G and CR
        zones.
    

The T-11 and G zones are located in the northeast part of the project where the A and CR Structures intersect.

This press release has been reviewed and approved by Dr. Kieran Downes, P.Geo., President of Golden Peaks Resources Ltd. 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 forward-looking statement.

SOURCE GOLDEN PEAKS RESOURCES LTD.

For further information: For further information: Media Information, contact: Scott Emerson, Chairman and Director, SE@goldenpeaks.com; Investor Information, contact: Mike Kordysz, Investor Communications, MK@goldenpeaks.com

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GOLDEN PEAKS RESOURCES LTD.

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