VANCOUVER, April 20 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL) (the "Company") is pleased to report assay results from surface samples from the area east of the recent drilling on its La Fortuna project, Argentina.
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Gold Silver Arsenic Copper Lead Sulphur Antimony Zinc
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g/t ppm ppm ppm ppm ppm ppm ppm
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9.96 12.03 320 1347 279 0.16 20 491
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14.12 4.40 240 1632 51 0.05 (less than) 5 45
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20.12 32.63 99 4992 43 0.09 (less than) 5 69
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18.83 22.91 184 4517 578 0.10 16 1840
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The results of surface samples coupled with the drill results indicate the T-11 zone remains open to the east (Figure 1). The data indicates a previously unrecognized gold bearing, N-trending structure in this area with implications for the development of high grade gold mineralization. As part of the current program the Company is following up in this area.
Location Map (http://www.goldenpeaks.com/i/maps/2010-04-20_NRM.jpg)
Chairman Scott Emerson said "The Company is very pleased with the occurrence in the same area of high grade surface samples and strong gold drill intercepts."
The T-11 zone has now been drilled over ~1,400 meters (90 holes) and the Company is confident the current drill program will expand the zone.
Golden Peaks is currently drilling the large breccia targets which underlie and flank the T-11 and G zones. These targets, identified by a CSAMT survey and in part by drilling, may be the root zones of the high grade gold-bearing quartz veins/breccias that occur in the T-11 and G zones. The CSAMT survey indicates the conductive zones that host the gold mineralization persist to depths in excess of 500 meters.
Assays from other holes drilled in this program will be released once received, verified and evaluated.
The diamond drill contractor is Energold Drilling Corp. A lightweight, portable drill is being used to minimize environmental impact. All samples are being assayed by Alex Stewart (Assayers) Argentina S.A.
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: Media Information, contact: Scott Emerson, Chairman and Director, [email protected]; Investor Information, contact: Mike Kordysz, Investor Communications, [email protected]
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