On Tuesday June 21, 2011, 1:39 pm
- Two company owned drill rigs operating
- Previous results include 10m @ 8.8g/t Au, 7m @ 5.3 g/t Au and 20m @ 3.1 g/t Au
- Initial drill holes to test high-grade shoots in Sondana Vein
- Veins have strike-lengths up to 2.3 Km
VANCOUVER, June 21, 2011 /CNW/ - Golden Peaks Resources Limited (theCompany) (Toronto:GL.TO) is pleased to update drilling on the Tanoyan GoldProject on Sulawesi Island, Indonesia. The company has completed 1877meters (15 drill holes) of the initial 5000 meter drill program.
The first holes tested for extensions of high-grade mineralisationintersected previously within the Sondana Vein in hole TND002 (Figure1)(http://www.goldenpeaks.com/i/maps/image003.jpg) which intersected four zones of mineralisation, including 10m @ 8.81 g/t Au from 31m and 20m @ 3.1 g/t Au from 138m
Currently there are 2 drill rigs operating around the clock on theproject, the second drill rig was moved from Palopo to Tanoyan in earlyMay to accelerate the drilling. This is allowing work crews on thePalopo gold project to map the possible extension of Mangkaluku veinsystem prior to the proposed drill program. They are now a total of 62 employees, including 50 locals associatedwith the exploration/drilling program at Tanoyan.
This press release has been reviewed and approved by Mr. John Levings,B.Sc., MAusIMM, director of Reliance Resources Limited and a QualifiedPerson as defined by National Instrument 43-101, under whose directionthe exploration programs are being carried out.
The statements herein that are not historical facts are forward-lookingstatements. These statements address future events and conditions andso involve inherent risks and uncertainties, as disclosed under theheading "Risk Factors" in the company's periodic filings with Canadiansecurities regulators. Actual results could differ from those currentlyprojected. The Company does not assume the obligation to update anyforward-looking statement.
| Media Information contact: Scott Emerson Chairman and Director SE@goldenpeaks.com | Investor Information contact: Mike Kordysz Investor Communications MK@goldenpeaks.com |
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