Golden Peaks - neue Firmeninfos

  is a progressive international exploration and resource development company with its primary focus in Indonesia and strategic development holdings in Argentina.

As reported November 2, 2010 the Company has signed a Letter of Intent (the "LOI") to acquire 100% of Reliance Resources Limited ("Reliance"), an unlisted Australian public company, which holds the rights to five advanced gold exploration permits on the islands of Sulawesi and Halmahera in eastern Indonesia.

The Reliance portfolio comprises of three exploration projects on Sulawesi Island, with a JORC inferred resource, defined targets and the potential for near-term resource development and production; and two exploration projects on the island of Halmahera, 70km north of Newcrest Mining's high-grade, profitable Gosowong gold mine ( 5M oz average 24g/t Au). Reliance has the second largest landholding behind Newcrest on Halmahera.

Reliance holds a majority (75-90%) interest in these five gold tenements, covering 30,000 hectares. All five projects are within close proximity to operating gold mines or defined resources with similar geological settings. Importantly, all projects have been converted to IUP tenements as required under the new Indonesian Mining Act (2009).

The La Fortuna gold project is located in the Province of Chubut, Argentina, 1,300 km south of Buenos Aires. The La Fortuna gold project is located in the same region as Pan American Silver Corps' Navidad discovery. The claims covering the La Fortuna gold deposits have been legally surveyed and the Company holds 100% title to the claims through its wholly-owned subsidiary, Golden Peaks Minera S.A.

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GOLDEN PEAKS RESOURCES LTD. - FIRST INFERRED MINERAL RESOURCE FOR RELIANCE TANOYAN GOLD PROJECT, INDONESIA

TSX: GL

• Initial NI 43-101 Inferred Resource of 91,100 oz at 1.3 g/t Au
• Four shallow epithermal gold-bearing vein systems defined
• Individual veins with strike lengths up to 2.3 kms with vein widths up to 15 metres
• Current drilling program designed to increase Mineral Resource 

VANCOUVER, Jan. 13 /PRNewswire/ - Golden Peaks Resources Limited ('Golden Peaks' or 'the Company') is pleased to report that it has received an independent National Instrument 43-101 ("NI 43-101") compliant technical report (the "Technical Report") for the Tanoyan property on Sulawesi island, Indonesia (Figure 1). The Technical Report, prepared by CSA (Global) ("CSA") of Perth, Western Australia, estimates an Inferred Mineral Resource of approximately of 2,220,000 tonnes at a grade of 1.3 g/t gold for contained gold of 91,100 ounces.

Upon completion of the acquisition of Reliance Resources Limited, scheduled for early February, Golden Peaks will own a 75% interest in the Tanoyan property.The property offers significant discovery potential.
Table 1: CSA Mineral Resource Estimate to 100m below surface

CLASSIFICATION	Domain	K Tonnes	Au (g/t)	Au (Oz)
	Sondana	1,640	1.0	53,900
	Ramai	131	0.9	3,600
Inferred	Lingkobungon	115	0.9	3,500
	Talong-Modupola	339	2.8	30,100
	Total	2,225	1.3	91,100

 
Note: The CSA Mineral Resource was estimated within constraining wireframe solids based on a nominal lower cut-off grade of 0.5g/t Au. The resource is quoted from blocks above a 0g/t Au cut-off grade. Differences may occur due to rounding.
 
The Technical Report, entitled " Tanoyan and Anggrek Properties, North Sulawesi, Indonesia" and dated November 11, 2010, was authored by Robert Neil McLean (BSc Hons) MAusIMM (107754) and David Williams (BSc Hons) MAusIMM (109698) who are "independent persons" as defined by NI 43-101. Mr. David Williams of CSA is a Qualified Person as defined by NI 43-101 and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The Technical Report will be filed by the Company within the required time specified by NI 43-101and will soon be available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com.

CSA's Mineral Resource estimate was based exclusively on data from 44 diamond drill holes, totalling 6,007 metres, drilled by Avocet Mining PLC ("Avocet"), the previous owners of the property over a 12-month period between 2007 - 2008. Avocet also undertook, trenching, soil geochemistry, geological mapping and IP-Resistivity geophysical surveys within the property, and completed an internal resource estimate utilizing all of its exploration data. CSA, however, only utilized drilling data and did not include trench assay data in their resource estimate.

CSA's Inferred Mineral Resource estimate is lower than an in-house estimate prepared by Avocet due to the application by CSA of a more conservative set of protocols. CSA's report states: "The Mineral Resource estimate of 2.22M tonnes at a grade of 1.3g/t Au for contained gold of 91,100oz differs considerably from that estimated by Avocet. The main reasons for the difference are considered to be due to CSA:

• Removing two of the best three drill intersections due to excessively wide drilling spacing
• Applying a top cut to the assay database instead of separately modelling the high-grade parts of the deposit as Avocet did;
• Applying more conservative extrapolations of veins in strike and dip to a maximum of 100 metres below surface; and
• Removing the surface trench assay data (which has a marginally higher average grade than the drillholes) from the grade estimate.

Golden Peaks believes that with continued infill and exploration drilling the resources at Tanoyan can be significantly increased. The CSA report states: "There is an opportunity to increase the Tanoyan Mineral Resource estimate, and to improve confidence in the classification of currently Inferred Mineral Resource by continued drilling..............There are also opportunities to extend mineralised lodes along strike, and to discover new zones."
 
To view Figure 1: Location of Golden Peaks Tanoyan, Anggrek and Palopo properties, please visit: http://files.newswire.ca/365/GoldenPeaks.doc
Avocet identified four principal epithermal gold-bearing vein systems: Sondana, Ramai, Linkobungon and Talong-Modupola. Individual veins have strike-lengths up to 2.3 Km and widths vary between 2 and 15 metres (Figure 2).

To view Figure 2: Tanoyan Geology showing Vein Systems and drill hole collars, please visit: http://files.newswire.ca/365/GoldenPeaks.doc
 
Golden Peaks plans drilling at Tanoyan with an initial focus on following-up high-grade intersections from the Avocet drilling programs. The Company has retained a specialist structural geologist (Adriaan van Herk) to provide a framework for recognizing controls of high-grade mineralisation within the lode systems.

Scott Emerson commented: This resource estimate is an important milestone for the Tanoyan Gold Project. It is the first NI 43-101 compliant resource ever produced for this deposit. We are encouraged by this initial study and will continue to advance the Tanoyan deposit this year with a  drilling program designed to expand the resource and investigate the higher-grade zones of gold discovered within the deposit."

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
 
SOURCE Golden Peaks Resources Ltd.

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Chubut: Christmas awaits legal approval for its implementation

Anticipation Builds in Chubut locations as Gan Gan Gastre or on the possibility that the mining company Pan American Silver to start with the Christmas mine operation to facilitate an economic transformation similar to that produced oil in Comodoro Rivadavia, Aluar in Puerto Madryn and Trelew textile industry. According to Diario El Chubut, residents and authorities in those communities would suggest that an alternative development, which should be put in measures to ensure the care of the environment, generating 400 jobs and mobilize a network of services around discipline. The mayor of Gastre, Rolando Jara, said the company "is waiting for the law" regarding the new regulatory framework that is defining the Government, and could get to be in the next administration. "They are ready for you when given a signal, start the operation," he added. In his view, once they start to operate minimally could take 400 people. "There are staff four years ago that is working in exploration and maintenance. More than 100 people belonging to Gastre, Gan Gan and Lagunita Salada "he said. The village head said further that economic and social change that led to Christmas and is perceived in the communes. "It's a great help to many families," he said.

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Chubut: Navidad espera el visto bueno legal para su puesta en marcha
Crece la expectativa en localidades chubutenses como Gastre o Gan Gan, sobre la posibilidad de que la empresa minera Pan American Silver pueda empezar con la explotación de la mina Navidad a fin de propiciar una reconversión económica similar a lo que produjo el petróleo en Comodoro Rivadavia, Aluar en Puerto Madryn y la industria textil en Trelew. De acuerdo con Diario El Chubut, los pobladores y las autoridades de esas comunas plantean que sería una alternativa de desarrollo, en el cual deberían arbitrarse las medidas para poder garantizar el cuidado del medio ambiente, generar 400 empleos y movilizar una red de servicios en torno a la disciplina. El intendente de Gastre, Rolando Jara, aseguró que la empresa “está a la espera de la ley” en cuanto al nuevo marco normativo que está definiendo el Gobierno, y que podría llegar a tratarse en la próxima gestión. “Ellos están listos para que cuando se les dé una señal, arrancan la explotación”, añadió. A su entender, una vez que empiecen a explotar podrían tomar mínimamente a 400 personas. “Ya hay personal que hace cuatro años que está trabajando en exploración y mantenimiento. Son más de 100 personas que pertenecen a Gastre, Gan Gan y Lagunita Salada”, comentó. El jefe comunal sostuvo, además, que el cambio económico y social que generó ya Navidad, se percibe en las comunas. “Es una gran ayuda para muchas familias”, destacó.

Quelle: El Inversor - Energético & Minero  

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