News Release - Monday, September 12, 201118.85 metres at
4.4 g/t Au Intersected at Tanoyan
- Diamond Drill Hole TND 075 intersects:
- 18.85 metres at 4.4 g/t Au including 2m at 33.0
g/t Au
- Northern-most result yet from main Sondana Vein
Phase 1 drilling
- Richest drill intersection to date
- Mineralisation open along strike and at depth
Golden Peaks Limited (TSX: GL) (the company) is pleased to
announce drilling results from diamond drill hole TND075, which is the most
recent from the Tondana Vein system, Tanoyan Gold Project, Sulawesi, Indonesia.
This hole intersected gold-bearing quartz vein over a drilled width of 18.85
metres, approximately 70 metres below surface:
- TND 075: 18.85 metres at 4.4 g/t Au from 96.2m, including 2.0 metres at 33.0
g/t Au from 98.25m
The TND 075 result is considered important for
several reasons:
- It confirms the strength of the Sondana vein
system to the north.
- It is the northern-most "effective and complete"
test of the Sondana vein
- The mineralized zone is open at depth and to the
north (Fig 1) and cross section http://www.goldenpeaks.com/i/maps/Sondana-Vein-Drill-Plan-new.jpg
- Demonstrates the potential for relatively deep,
high-grade mineralization.
- The structural knowledge about Tanoyan is reaching a high level whereby it
is possible for the company's geologists to target the auriferous quartz veins
even where little of no surface indications are evident.
Golden Peaks'
President Scott Emerson commented: "The completion of hole TND 075 is an
important milestone as it is the richest gold intersection made so far by the
company. It opens up the exciting potential of the northern section of the
Sondana vein and it shows that relatively deep veins at Tanoyan can host very
high grade gold. Rig 1 continues to drill the northern sections of the Sondana
vein and additional results are expected in due course. The planning for the
10,000 metre Phase 2 drilling program is at an advanced stage and will include
follow-up of the exciting result in TND 075"
Table 1: Tanoyan Project
Drilling Results
| DH No. |
Zone 51 N UTM |
Vein |
From |
To |
Interval |
Au |
Interpreted |
|
East |
North |
(m) |
(m) |
(m) |
(g/t) |
True Width (m) |
| TND075 |
639572 |
67409 |
Sondana |
79.3 |
81.3 |
2 |
1.5 |
|
| |
|
|
|
96.2 |
115.05 |
18.85 |
4.4 |
|
| |
|
|
incl |
98.25 |
100.25 |
2 |
33.0 |
|
The
company currently owns two drill rigs and they are being operated by PT
Maiwadrill Resources Antarnusa. Rig 1 is drilling the Sondana Vein system, rig 2
has concentrated on the Modupola Vein system which is located approximately 1 Km
to the east of Sondana Vein. Both veins systems are part of an extensive system
of auriferous quartz veins, hosted by andesitic volcanics, which have been
traced over a strike length of approximately 5,600 metres.
All samples
were assayed by Intertek Indonesia; a division of the global Intertek Group
PLC.
Core is collected and initially logged at Tanoyan Base Camp at the
project area. The core is then securely transported in closed core boxes to
Golden Peaks' Exploration Office in Kotamobagu, North Sulawesi. Here the core is
logged in detail, cut longitudinally into 2 equal halves and half-core is
sampled at 1 meter intervals; except where the geology dictates a lesser
sampling interval. Half core is permanently retained, as a reference, in the
secure Kotamobagu core-storage facility. All QC samples are introduced before
the bagged samples are trucked to PT Intertek Laboratory's sample preparation
facility in Manado. Prepared samples are then couriered by PT Intertek to their
analytical facility in Jakarta for analyses.
Gold is fire assayed using a
50.0 gram aliquot sample with an AA finish. Multi-element analysis is by Four
Acid Digestion using an Induced Coupled Plasma (ICP) finish.
The
Company's QA/QC program now includes the regular insertion of blanks, multiple
certified assay standards into the sample shipments. Locally-sourced blank
samples are inserted in every assay batch of 10 samples. Commercial standards
are inserted in every assay batch of 25 samples. Sludge samples are also
collected and assayed on a 1 metre interval from the drilling fluid circulation
return. Regular monitoring of these QC samples is a critical part of Golden
Peak's QA/QC protocols.
This press release has been reviewed and approved
by Mr. John Levings, B.Sc., FAusIMM, director of Golden Peaks Resources Limited
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, President
SE@goldenpeaks.comInvestor
Information, contact:
Mike Kordysz, Investor Communications
MK@goldenpeaks.comThe
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.Figure 1:
Sondana Vein Drill Plan show location of new and historical drilling
results
Copyright © 2011 GOLDEN PEAKS RESOURCES LTD. (TSX-V:GL) All rights reserved. For
more information visit our website at http://www.goldenpeaks.com/
or send email to info@goldenpeaks.com
.
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