Golden Peaks Resources Ltd. - La Fortuna: T-11 Zone Extended



    VANCOUVER, Jan. 10 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL) (the
"Company") is pleased to report the results of 24 holes from the La Fortuna
gold project, Chubut province, Argentina. The T-11 structure has now been
drill tested over a length of 900 meters (98 holes to date). These 24 holes
http://www.goldenpeaks.com/i/pdf/Table1PRJanuary10.pdf were drilled on a
181 meter portion along the structure of the T-11 zone. 23 of the holes
intersected gold mineralization.
    These results along with previously announced T-11 results demonstrates
the T-11 gold zone now extends over a minimum distance of 250 meters at
shallow depths, has an overall dip to the north, and plunges to the northwest.
Further results from the T-11 zone are pending.
    High grade gold mineralization was intersected in holes LF-39, LF-51,
LF-63, LF-73, which were drilled to extend the T-11 zone to the northwest of
discovery hole LF-7 (reference news release February 21, 2006). The Company
believes the main T-11 gold zone lies at a deeper level in the northwest. The
Company is currently drilling deep holes in this area to verify our
interpretation that the mineralization gets better at depth.
    High grade gold mineralization was also intersected in holes LF 76 and
LF-103, which have identified a new zone of mineralization. The gold
mineralization is similar to the gold mineralization found at the G zone. The
intercepts in holes LF-76 and LF-103 are located approximately 54 and
100 meters respectively south of the T-11 zone
http://www.goldenpeaks.com/s/Image.asp?i=maps/T-11DrillPlan.jpg&id=280215e.
Additional drilling is being undertaken in this area.
    The high grade drill results are detailed below.

    
    -------------------------------------------------------------------------
    Hole                        From          To        Interval        Gold
     No.                         (m)          (m)          (m)          (g/t)
    -------------------------------------------------------------------------
    LF-39                       36.50        70.50        34.00         1.11
    -------------------------------------------------------------------------
                  incl          50.00        61.00        11.00         2.39
    -------------------------------------------------------------------------
                   and          50.00        54.50         4.50         3.19
    -------------------------------------------------------------------------
                   and          52.50        58.00         5.50         2.91
    -------------------------------------------------------------------------
                   and          52.50        54.50         2.00         4.86
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-51                       38.30        70.00        31.70         1.96
    -------------------------------------------------------------------------
                  incl          43.00        59.00        16.00         2.79
    -------------------------------------------------------------------------
                   and          50.00        57.00         7.00         4.76
    -------------------------------------------------------------------------
                   and          54.00        59.00         5.00         5.94
    -------------------------------------------------------------------------
                   and          54.00        57.00         3.00         8.66
    -------------------------------------------------------------------------
                   and          54.00        55.00         1.00        11.07
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-63                        9.00        20.00        11.00         2.60
    -------------------------------------------------------------------------
                  incl          11.50        15.50         4.00         6.29
    -------------------------------------------------------------------------
                   and          11.50        12.50         1.00        17.00
    -------------------------------------------------------------------------
                   and          12.00        12.50         0.50        22.53
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-73                       53.80        62.00         8.20         1.42
    -------------------------------------------------------------------------
                  incl          57.30        62.00         4.70         2.12
    -------------------------------------------------------------------------
                  incl          58.80        59.80         1.00         5.20
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-76                       97.00       104.00         7.00         1.45
    -------------------------------------------------------------------------
                  incl          97.00        99.00         2.00         4.56
    -------------------------------------------------------------------------
                   and          97.00        98.00         1.00         7.77
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-103                      15.00        18.00         3.00         0.48
    -------------------------------------------------------------------------
                                22.00        26.00         4.00         2.46
    -------------------------------------------------------------------------
                  incl          24.00        25.00         1.00         7.15
    -------------------------------------------------------------------------

    Note: Drill hole data for the holes reflect down hole core lengths. True
    widths cannot be reliably estimated at this time.
    

    Said Chairman Scott Emerson: "The T-11 style of gold mineralization has
now been found in three areas and is probably more widespread than currently
recognized. We are developing resources in this area at a rapid pace. T-11
type deposits quickly add resources."
    The drill contractor is Connors Argentina S.A. Split/sawn core samples
are assayed by Alex Stewart (Assayers) Argentina S.A., a certified ISO 9002
laboratory. In accordance with the Company's QC/QA policy all high grade
samples are being check assayed at a different laboratory.
    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.





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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