Mine Pre-Development Work Now Complete at Proposed San Albino Open Pittable Gold Deposit; Trenching Returns 7.5 Metres of 49.34 G/T Gold & 73.8 G/T Silver Along Strike

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[{"type":"text","content":"Mine Pre-Development Work Now Complete at Proposed San Albino Open Pittable Gold Deposit; Trenching Returns 7.5 Metres of 49.34 G/T Gold & 73.8 G/T Silver Along Strike(via Thenewswire.ca)\n \n \nVancouver, BC / TheNewswire / August 3, 2016 - Golden Reign Resources Ltd. (TSX-V: GRR) (the \"Company\" or \"Golden Reign\") is pleased to report results from further mine pre-development work at its wholly-owned San Albino Gold Deposit located in Nueva Segovia, Nicaragua.\n\n\n \nPre-development work consisted of infill metallurgical drilling, grade-control drilling, condemnation drilling and surface trenching (Figure 1). The pre-development program commenced in March 2016, with the objective of obtaining additional information regarding the proposed starter pits - improving the Company's understanding of structural controls, providing detailed grade control information, and affirming the continuity and grade of the \"in pit\" resources. \n\n\n \nArea of Initial 6 Months of Planned Open-Pit Mining Activity (West Pit)\n\n\n \nIn the area planned for initial mining activities, Golden Reign excavated a large pit to expose the San Albino zone mineralization previously identified and exposed in trench SA13-TR18 that returned 5.4 metres of 7.72 g/t gold and 9.0 g/t silver. High-grade sample intervals from pit SA16-EXPPIT-SA13-TR-18 include:\n\n\n \n Along Strike\n\n \n\n-\n\n\n\n\n7.5 metres of 49.34 g/t Au and 73.8 g/t Ag\n\n\n\n\nincluding\n\n\n\n\n1.5 metres of 110.50 g/t Au and 142.0 g/t Ag\n\n\n\n\n-\n\n\n\n\n9.0 metres of 40.60 g/t Au and 65.7 g/t Ag\n\n\n\n\nincluding\n\n\n\n\n1.5 metres of 165.75 g/t Au and 213.0 g/t Ag\n\n\n\n\n-\n\n\n\n\n4.5 metres of 50.93 g/t Au and 61.7 g/t Ag\n\n\n\n\nincluding\n\n\n\n\n1.5 metres of 109.00 g/t Au and 84.0 g/t Ag\n\n\n\n\n-\n\n\n\n\n7.5 metres of 17.76 g/t Au and 41.5 g/t Ag\n\n \n\nVertical (across zone but not necessarily true width) \n\n\n\n\n-\n\n\n\n\n2.2 metres of 14.90 g/t Au and 63.0 g/t Ag\n\n\n\n\n-\n\n\n\n\n2.0 metres of 18.40 g/t Au and 59.0 g/t Ag\n\n\n \n \nDevelopment pit SA16-EXPPIT-SA13-TR-18 successfully exposed and confirmed the continuity of high-grade, open-pittable mineralization at surface, extending over a strike length of 20 metres and down-dip 5 metres. Metallurgical drill hole SA16-MET-40 tested the further down-dip extension of the mineralized zone. Situated approxim...

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