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Goldrea Resources Corp. - 150,000 tonne bulk test proposed & diamond drill update
Goldrea Resources Corp. - 150,000 tonne bulk test proposed & diamond drill update.
About this update from Goldrea Resources Corp.
[{"type":"text","content":"\n\n\n\n\nTrading Symbol: GOR -TSX-Venture \n\nVANCOUVER, Dec. 21 /CNW/ - Drilling continues on Goldrea Resources\nCorp.'s (GOR-TSX.V), Rushan Gold Project in Shandong Province in China. To\ndate 5,817.5 meters (19,081 feet) have been completed in 26 holes.\nGoldrea has an agreement to explore the lateral extensions and the\ndownward extensions below the -150 meter elevation of the Daye Mine. A series\nof 8 short holes were drilled between lines 17W and 23W, just west of the open\npit completed by the Daye Mining Co. On completing this series of short holes,\nthe drill rig was moved to the Shijia Zone, 600 meters to the southeast of the\nopen pit, and where Hole GZK 801 and GZK 810 returned good results in earlier\ndrilling. A series of 6 to 8 holes will be drilled between GZK 801 and GZK810\nand bracketing GZK 810. To date Holes GZK 816 and GZK 817 located 100 meters\nnorth and east of Hole GZK 810 intersected 5.83 meters and 23.22 meters of\nsulphide rich structural sericite breccia respectively. Assays are pending.\nAn update report, meeting NI 43-101 standards, is in its final stages and\nwill be filed within a few days. The next phase of the exploration work at\nDaye will include a bulk sampling program designed to mine 150,000 tonnes of\nsericitic sulphide breccia and process it through the Daye Mill. The purpose\nof this sample is to determine the percentage of sericite in the sericite\nsulphide breccia and provide a correlative comparison of the recoverable gold\nin the typical sericite sulphide breccia. The material appears similar to the\nmaterial being processed by the Daye Mine which reportedly averages 23%\nsericite. The bulk sample will be taken from a section of this sericite\nsulphide breccia material indicated to carry 1.5 gpt to 2.0 gpt gold and\ntreated at the existing Daye Mine Mill and Sericite Recovery Plant. The\nresults of this batch bulk sample will provide recovery and cost parameters\nwhich will be applied in the feasibility study for a mining operation on the\nremainder of the deposit.\nDrill and trench assay results in the open pit worked by the Daye Mine\ngenerally indicated gold grades in the sericite sulphide breccia of from 1.5\nto 2.0 gpt. However, the Daye Mine reports recoveries from these same areas\nyielded 3.5 to 4.0 gpt. Such variances are often noted in deposits containing\nfree gold. Thi...