Golden Peaks Cuts 30 Meters of 3 g/t Gold

March 22, 2010, -- Vancouver -- Golden Peaks Resources Ltd. (TSX: GL) (the "Company") is pleased to report assays for hole LF-142 drilled on the T-11 zone of its La Fortuna Gold Project, Argentina.

The latest drilling at T11 continues to return excellent results (Figure 1). Hole LF-142 is one of four holes drilled to better define the T-11 zone. The multiple intersections in LF-142 demonstrate the continuity of the gold mineralization throughout the system. The intersection in hole LF-142 is consistent with previous drill holes in the T-11 zone and confirms that mineralization is present in similar style and grades along strike. 

See drill location map (http://www.goldenpeaks.com/i/maps/LaF_NR.jpg) Eighty-nine holes have now been drilled on the T-11 zone over a strike length of 1400 meters and +96% of the holes have intersected gold mineralization. The Company is confident the T-11 zone will be expanded by the current drill program. Golden Peaks is also drilling reconnaissance and in-fill holes on the G zone and targeting the possible higher grade root zones of the gold-bearing quartz veins/breccias which occur in the T-11 and G zones. These targets, which underlie and flank the T-11 and G zones, were identified by a CSAMT survey and in part by drilling. The CSAMT survey indicates the conductive zones that host the gold mineralization persist to depths in excess of 500 meters. 

One such CSAMT zone lies approximately 200 meters southwest of the G zone. This is a priority target and is currently being drilled. Assays from other holes drilled in this program will be released once received, verified and evaluated. The diamond drill contractor is Energold Drilling Corp. A lightweight, portable drill is being used to minimize environmental impact. All samples are being assayed by Alex Stewart (Assayers) Argentina S.A. This press release has been reviewed and approved by Dr. Kieran Downes, P.Geo., President of Golden Peaks Resources Ltd. and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out. 

Media Information, contact: Scott Emerson, Chairman and Director SE@goldenpeaks.com Investor Information, contact: Mike Kordysz, Investor Communications MK@goldenpeaks.com 

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. You can view the Previous News Releases item: Fri Mar 5, 2010, Golden Peaks Expands Gold Zones at La Fortuna

 Anzeige

Golden Peaks Resources Ltd. - Drilling to focus on the T-11 & G gold zones

VANCOUVER, Dec. 3 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL - News; the "Company") is pleased to report, it has completed a geostatistical analysis of the geochemistry of the mineralized systems present on the La Fortuna Gold Project, Argentina.

Geostatistics is a branch of statistics focusing on spatiotemporal datasets. Developed originally to predict probable distributions for mining operations, it is currently applied in diverse disciplines including geochemistry.

Chemical analyses of samples from all of the zones were evaluated by several geostatistical methods. The significant conclusions are:

     1.  The mineralization is categorized as low sulphidation type.

     2.  The greatest enrichment in gold is found in the T-11, G and CR zones
         where the gold to silver ration is 1:1. The enrichment is associated
         with higher mineralizing temperatures likely focused by the
         intersection of the A and CR Structures.

     3.  Regression analysis identified a distinctive population of high value
         gold assays associated with high copper values. In the T-11/G/CR
         zones this gold population is associated with quartz veins/breccias
         the roots of which are the primary targets of the planned drill
         program.

     4.  The most prospective areas are in the northwest: T-11, G and CR
         zones.
     

The T-11 and G zones are located in the northeast part of the project where the A and CR Structures intersect.

This press release has been reviewed and approved by Dr. Kieran Downes, P.Geo., President of Golden Peaks Resources Ltd. and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out.

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.

For further information

Media Information, contact: Scott Emerson, Chairman and Director, SE@goldenpeaks.com Investor Information, contact: Mike Kordysz, Investor Communications, MK@goldenpeaks.com

 

Anzeige

 

Golden Peaks Resources Ltd. closes private placement

VANCOUVER, Nov. 26 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL) (the
"Company") is pleased to announce that it has successfully closed its
previously announced brokered private placement (the "Financing") consisting
of 4,000,000 units (each, a "Unit") for gross proceeds to the Company of
$2,041,690. 

An aggregate of 3,831,000 Units were sold to arm's length
investors at a purchase price of $0.51 per Unit and an aggregate of 169,000
Units were sold to non-arm's length investors at a purchase price of $0.52 per
Unit. Each Unit consists of one common share and one common share purchase
warrant. Each warrant is transferable and entitles the holder to purchase an
additional common share of the Company at any time until May 19, 2011.
Warrants issued to arm's length investors are exercisable at a purchase price
of $0.64 per share and warrants issued to non-arm's length investors are
exercisable at a purchase price of $0.65 per share. 

      Canaccord Capital Corporation acted as the agent (the "Agent") in
connection with the Financing. In consideration for the services provided to
the Company by the Agent, the Company issued to the Agent 75,000 corporate
finance units - each unit consisting of one common share and one
non-transferable common share purchase warrant exercisable at a price of $0.65
per share until May 19, 2011. The Agent also received non-transferable
warrants that entitle it to purchase up to 268,710 common shares exercisable
at a price of $0.65 per share until May 19, 2011. The Agent also received a
cash commission of $136,766.60 and an administration fee of $5,000.
     All securities issued in conjunction with the Financing have a hold
period expiring on March 20 ,2010. 

      The net proceeds of this Financing will be used to fund exploration and
development activities on the Company's La Fortuna gold project in Argentina
and for general corporate purposes.

     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.

For further information: Media Information, contact: Scott Emerson,
Chairman and Director, SE@goldenpeaks.com; Investor Information, contact: Mike
Kordysz, Investor Communications, MK@goldenpeaks.com/ 

Anzeige