2013-01-14 19:04:18 -
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/14/13 -- Golden Reign Resources Ltd. (TSX VENTURE:GRR) (the "Company" or "Golden Reign") is pleased to provide an update on the on-going 2012/2013 regional trenching program in the Southern District of its San Albino-Murra Property (the "Property") located in Nueva Segovia, Nicaragua.
Approximately 1.5 kilometres south of the San Albino Gold Deposit, trenching has outlined 4 parallel NE/SW trending mineralized zones (see attached map: media3.marketwire.com/docs/GRR0114.pdf
) ranging from 500 to 1,500 metres in length, all located within a 2.5 square kilometre area.
All 4 mineralized zones are situated within the Corona de Oro Gold Belt, which hosts the San Albino Gold Deposit with Indicated resources of 95,000 ounces gold equivalent at 8.47 g/t and Inferred resources of 805,000 ounces gold equivalent at 7.43 g/t (see news releases of November 20, 2012 and January 7, 2013).
The mineralized zones, from North to South, are: San Pablo; Intermediate; Las Conchitas/Rio Jicaro; and, Las Dolores. All of the trenches completed within each zone intersected quartz veins mineralized with galena, arsenopyrite, pyrite and native gold. All zones are currently open along strike in both directions and down dip. On-going trenching is expected to extend the strike length of each zone. Trenching results, currently pending, will be used to prioritize drill targets for the proposed 2013 drilling program.
Golden Reign has also designed a series of exploration pits to expose mineralized veins intersected by trenching along strike and down-dip. A total of 11 exploration pits have been completed thus far. The true thickness of each vein exposed by exploration pit was measured and sampled. The Company plans to collect bulk samples from the exploration pits for metallurgical testing purposes and to better estimate the grade potential of the mineralized zones.
Golden Reign's Qualified Person
John M. Kowalchuk, P.Geo, a geologist and Company qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release on behalf of the Company.
On behalf of the Board,
Kim Evans, CGA, President & CEO
About Golden Reign:
Golden Reign Resources Ltd. is a publicly listed (TSX VENTURE:GRR) mineral exploration company engaged in exploring the San Albino-Murra Property and the El Jicaro Property, both of which are located in Nueva Segovia, Nicaragua.
The Company's land package comprises 13,771 hectares (138 km2) of highly prospective ground. Hundreds of historical mines and workings exist within the Corona de Oro Gold Belt, which is approximately 3 kilometres wide by 20 kilometres long and spans the entirety of the Company's land package.
For additional information please visit our website at www.goldenreign.com : www.goldenreign.com and SEDAR www.sedar.com.
Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Golden Reign Resources Ltd.
Kim Evans, CGA
President & CEO
(604) 685-4655 or Toll Free: 1-888-685-4655
(604) 685-4675 (FAX)