2012-02-13 15:08:11 -
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/13/12 -- Golden Touch Resources Corp. ("Golden Touch" or the "Company") (TSX VENTURE:GOT)(FRANKFURT:0GT) is pleased to announce that drill intersections of up to 5.27 grams/tonne (g/t) platinum (Pt) over three meters and up to 2.06 g/t Pt over four meters have been obtained in the first round of drilling in the Company's Platinum Project (PEL1376) in north-eastern Albania.
Intervals above 1.0 g/t Pt have been obtained in Holes 1, 2, 3 and 4. Widespread low grade Pt anomalism of up to 0.30 g/t over 15.0 meters has also been obtained from all five holes.
Five holes were drilled in the first round drilling program for a total of 480.65 meters. All of these holes tested the Bregu I Bibes Prospect, down-dip from where channel sampling of trenches excavated in an outcrop, located zones of 1.5 g/t Pt over 14.0 meters, 1.9 g/t Pt over 11.0 meters and 2.1 g/t Pt over 5 meters.
A total of 496 drill core samples (one metre intervals) were prepared and despatched for assay. Samples were analysed for platinum group elements (platinum and palladium), gold and chromite (Cr2O3).
Results are encouraging with 8 intersections (ranging in length from 1.0 to 4.0 meters) in excess of 1.0 g/t Pt developed within thick widespread intersections (up to 15.0 meters) of low grade Pt over 0.25 g/t. Of particular encouragement are intersections of 5.27 g/t Pt over three meters in Hole BB-4 (including an interval of 1.0m @ 7.60 g/t Pt) and 2.06 g/t Pt over four meters in Hole BB-3.
Intersections with over 0.25 g/t Pt and/or 0.25 g/t palladium (Pd), together with chromite content, are as follows;
HOLE BB-1
11.0m (3.0-14.0m) @ 0.48 g/t Pt and 1.93% Cr2O3
(including 1.0m (11.0-12.0m) @ 2.69 g/t Pt and 9.0% Cr2O3)
12.2m (36.8-49.0m) @ 0.31 g/t Pt and 1.09% Cr2O3
2.0m (101.0-103.0m) @ 0.25 g/t Pd and 0.06% Cr2O3
2.0m (111.0-113.0m) @ 0.36 g/t Pt and 1.23% Cr2O3
HOLE BB-2
4.0m (12.0-16.0m) @ 1.09 g/t Pt and 2.56% Cr2O3
(including 1.0m (13.0-14.0m) @ 1.98 g/t Pt and 4.18% Cr2O3)
1.0m (19.0-20.0m) @ 3.13 g/t Pt, 0.26 g/t Pd and 8.83% Cr2O3
1.0m (21.0-22.0m) @ 2.15 g/t Pt and 4.59% Cr2O3
14.0m (41.0- 55.0m) @ 0.28 g/t Pt and 2.03% Cr2O3
15.0m (71.0-86.0m) @ 0.30 g/t Pt and 0.94% Cr2O3
1.0m (92.0-93.0m) @ 0.28 g/t Pt and 1.04% Cr2O3
HOLE BB-3
4.0m (5.0-9.0m) @ 2.06 g/t Pt and 2.41% Cr2O3
(incuding 1.0m (8.0-9.0m) @ 3.29 g/t Pt and 3.67% Cr2O3)
3.0m (18.-21.0m) @ 1.09 g/t Pt and 1.82% Cr2O3
(incuding 1.0m (19.0-20.0m) @ 1.75 g/t Pt and 3.67% Cr2O3)
5.0m (42.0-47.0m) @ 0.50 g/t Pt and 1.82% Cr2O3
(including 1.0m (44.0-45.0m) @ 1.47g/t Pt and 4.00% Cr2O3)
6.0m (60.0-66.0m) @ 0.25 g/t Pt and 0.88% Cr2O3
HOLE BB-4
3.0m (40.0-43.0m) @ 5.27 g/t Pt, 0.30 g/t Pd and 26.72% Cr2O3
(including 1.0m (41.0-42.00m) @ 7.60 g/t Pt, 0.35% Pd and 38.7% Cr2O3)
1.0m (39.0-40.0m) @ 0.32 g/t Pt and 0.78% Cr2O3
1.20m (63.0-64.2m) @ 0.26 g/t Pt and 1.07% Cr2O3
HOLE BB-5
3.0m (18.0-21.0m) @ 0.35 g/t Pt and 1.36% Cr2O3
1.0m (60.0-61.0m) @ 0.75 g/t Pt and 2.94% Cr2O3
9.0m (88.0-97.0m) @ 0.28 g/t Pt and 1.01% Cr2O3
(including 1.0m (91.0-92.0m) @ 0.55 g/t Pt and 1.75% Cr2O3)
1.0m (102.0-103.0m) @ 0.45 g/t Pt and 2.10% Cr2O3
In general, the lower levels of platinum are associated with low percentages of chromite, in the order of up to 1 to 2%, whereas the higher platinum levels are associated with high percentages of chromite up to 38.7%.
Although some intervals of low core recovery were encountered, this has potentially only affected one zone of 4.0m @ 1.09 g/t Pt over the interval 12.0 to 16.0 meters in Hole BB-2 where recovery totalled only 50%. Full recovery over this interval may well have returned an average Pt assay of more or less that the amount actually recorded. The top of Hole BB-2 may be drilled again in another round of drilling to check the impact of the low recovery on Pt grade.
In summary, the first round drilling program has generated encouragement in that it has confirmed the presence of significant platinum mineralization developed within a broad halo of low grade mineralization.
Ken Chapple, President of Golden Touch, a Fellow of the Australian Institute of Geoscientists and hence a qualified person under the meaning of Canadian National Instrument 43-101, is responsible for the technical content of this news release.
On Behalf of the Board of Directors
Golden Touch Resources Corp.
Ken Chapple, President
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 NEWS RELEASE
Contacts:
Golden Touch Resources Corp.
Ken Chapple
President
(604) 248-5175
ken@goldentouchresources.com :
Golden Touch Resources Corp.
Tom Corcoran
Corporate Development
(604) 248-5175
tom@goldentouchresources.com :
www.goldentouchresources.com
