Golden Peaks Resources Ltd. - T-11 Gold Zone Expanded



    VANCOUVER, Nov. 1 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL) (the
"Company") announces further results from the T-11 zone, La Fortuna project,
Chubut province, Argentina. High grade gold mineralization was intersected in
holes LF-94, LF-95 and LF-96 drilled as undercuts to high grade mineralization
on the T-11 zone.
    The recent drilling at La Fortuna targeted the high grade mineralization
in holes LF-10 and LF-12 and showed the mineralization continues to depth.
This central part of the T-11 zone contains strong gold mineralization over a
distance of +100 meters and to vertical depths of between 100 to 160 meters.
The significant intersections in holes LF-69 and LF-105 are open. LF-105 is
located at the easternmost end of the zone and is open at depth and on strike
to the southeast for a minimum of 250 meters. LF-69 collared in strongly
oxidized rock and almost immediately intersected gold mineralization of
3.98 g/t gold over 2.0 meters. This suggests there may be other gold zones
paralleling the main T-11 zone in the hanging wall.
    LF-95, drilled to intersect the zone of interest 40 meters beneath hole
LF-10, intersected the gold mineralized zone at a vertical depth of
approximately 110 meters. LF-96, drilled to intersect the zone of interest
50 meters beneath hole LF-12, intersected the mineralized zone at a vertical
depth of approximately 90 meters. The intersections in LF-95 and LF-96 are
above the level of the broad, high grade gold mineralization intersected in
LF-105 and drilling is planned to test for the extensions to this zone beneath
LF-95 and LF-96.
    Immediately west of holes LF-7/LF-9 the mineralization appears to change
direction to the southwest before resuming its overall NW-trend. This change
in direction (flexure/roll) appears to have opened a new NW-plunging,
mineralized shoot. Hole LF-69, drilled to test this possible shoot,
intersected high grade mineralization. LF-94 tested for mineralization
approximately 15 meters west of holes LF-7/LF-9 and NE of the intersection in
LF-69. The intercepts in LF-94, which are at a vertical depth of approximately
110 meters, may be the NW-plunging shoot.
    LF-94 also tested for any NE-trending mineralization between fences
LF-7/LF-9 and LF-8/LF-10/LF-95. No NE-trending mineralization was intersected
confirming the mineralized zone, overall, trends to NW.
    Said Chairman Scott Emerson "The intersection in LF-105 is at a depth of
approximately 160 meters. Drilling immediately to the NW has only tested to a
depth of approximately 100 meters. We believe the mineralization continues at
depth to the NW and SE and offers the potential for significant expansion of
the zone."

    
    -------------------------------------------------------------------------
      Hole             From      To     Interval    Gold
    --------          ------   ------   --------   -----
       No.              (m)      (m)       (m)     (g/t)        Note
    -------------------------------------------------------------------------
    LF-8(*)             9.00    32.00      23.00    3.62   25m test
    -------------------------------------------------------------------------
               incl     9.00    15.00       6.00    7.24
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-10(*)           12.20    80.56      68.36    2.35   50m under LF-8
                                                           intersection
    -------------------------------------------------------------------------
               incl    12.20    29.00      16.80    7.69
    -------------------------------------------------------------------------
               incl    20.70    29.00       8.30   10.58
    -------------------------------------------------------------------------
                and    52.10    54.00       1.90    8.88
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-95             133.00   147.00      16.00    3.06   40 m under LF-10
                                                           intersection
    -------------------------------------------------------------------------
               incl   138.00   143.00       5.00    8.40
    -------------------------------------------------------------------------
               incl   139.00   142.00       3.00   11.96
    -------------------------------------------------------------------------
               incl   141.00   142.00       1.00   24.97
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-12(*)            7.00    20.00      13.00    3.30   25m test
    -------------------------------------------------------------------------
               incl     7.00    10.65       3.65    6.42
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-96              97.50   127.00      29.50    1.94   50 m under LF-12
                                                           intersection
    -------------------------------------------------------------------------
               incl   116.00   126.00      10.00    3.69
    -------------------------------------------------------------------------
               incl   118.00   121.50       3.50    5.62
    -------------------------------------------------------------------------
               incl   118.00   120.50       2.50    7.02
    -------------------------------------------------------------------------
                and   125.50   126.00       0.50   19.49
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-94(xxxx)       113.00   135.00      22.00    2.58

    -------------------------------------------------------------------------
               incl   113.00   129.00      16.00    2.94
    -------------------------------------------------------------------------
               incl   122.00   129.00       7.00    5.02
    -------------------------------------------------------------------------
               incl   124.00   126.00       2.00    7.15
    -------------------------------------------------------------------------
                and   134.00   135.00       1.00    6.39
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-7(*)             4.00    54.00      50.00    3.65   25m test
    -------------------------------------------------------------------------
               incl    18.50    42.00      23.50    6.70
    -------------------------------------------------------------------------
               incl    23.00    29.00       6.00   11.66
    -------------------------------------------------------------------------
                and    31.30    39.00       7.70   10.68
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-9(*)             6.30    69.00      62.70    2.05   50m under LF-7
                                                           intersection
    -------------------------------------------------------------------------
               incl    38.50    69.00      30.50    3.07
    -------------------------------------------------------------------------
               incl    38.50    50.00      11.50    6.56
    -------------------------------------------------------------------------
                and    39.00    46.50       7.50    9.42
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-69(xxx)          6.00     8.00       2.00    3.98
    -------------------------------------------------------------------------
                       14.00    48.00      34.00    3.90
    -------------------------------------------------------------------------
               incl    17.00    39.90      22.90    5.37
    -------------------------------------------------------------------------
               incl    17.00    28.00      11.00    6.80
    -------------------------------------------------------------------------
               incl    23.00    28.00       5.00   10.00
    -------------------------------------------------------------------------
                and    29.00    39.90      10.90    4.37
    -------------------------------------------------------------------------
               incl    38.00    39.90       1.90   12.03
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-11(*)            3.00    41.00      38.00    5.72   25m test
    -------------------------------------------------------------------------
               incl    19.50    29.80      10.30   10.90
    -------------------------------------------------------------------------
               incl    23.35    28.50       5.15   18.34
    -------------------------------------------------------------------------
               incl    33.53    39.55       6.02   10.08
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-92(xx)          93.00   134.00      41.00     1.7   50 m under LF-11
                                                           intersection
    -------------------------------------------------------------------------
               incl   105.70   112.00       6.30    8.16
    -------------------------------------------------------------------------
               incl   107.70   112.00       4.30   11.17
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-98(xx)          82.00   102.00      10.00    5.37   30m under LF-92
                                                           intersection
    -------------------------------------------------------------------------
               incl    85.00    89.00       4.00    4.00
    -------------------------------------------------------------------------
                and    99.00   102.00       3.00    7.12
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-105(xx)         83.50   138.50      55.00    2.44   40m under LF-98
                                                           intersection
    -------------------------------------------------------------------------
               incl    83.50    91.00       7.50    3.65
    -------------------------------------------------------------------------
               incl    87.50    91.00       3.50    7.02
    -------------------------------------------------------------------------
               incl    89.50    91.00       1.50   12.66
    -------------------------------------------------------------------------
                and   105.50   110.00       4.50    8.43
    -------------------------------------------------------------------------
               incl   105.50   107.50       2.00   15.14
    -------------------------------------------------------------------------
                and   124.00   138.00      14.00    3.80
    -------------------------------------------------------------------------
               incl   131.50   138.00       6.50    5.66
    -------------------------------------------------------------------------
               incl   135.00   138.00       3.00    8.66
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-107(xx)        160.00   171.00      11.00    0.10   70m under LF-105
                                                           intersection
    -------------------------------------------------------------------------
    Previously released ((*) Press Release of February 21, 2006; (xx) Press
    Release of September 25, 2007;(xxx)Press Release October 2, 2007.). Drill
    hole data for the holes reflect down hole core lengths. True widths
    cannot be reliably estimated at this time.(xxxx)Intersection contains 2
    meters at zero grade.
    

    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 TSX has not reviewed and does not accept responsibility for the
    adequacy or accuracy of this release.

    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

Organization Profile

GOLDEN PEAKS RESOURCES LTD.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890