|
Gold Reach Resources Ltd.
888 - 700 West Georgia St.
Vancouver, BC V7Y 1G5
(the "Company")
NEWS RELEASE
November 6, 2006
Gold Reach intersects 138 metres of .845% Cu & 23 g/t
Ag
including 42 metres of 1.24% Cu & 32 g/t Ag & .13 g/t Au.
Vancouver, British Columbia: Gold Reach Resources Ltd. (GRH: TSX-V)
("Gold Reach" or the "Company") announces results from 11 of 15 holes
from the Summer Phase 3 drill program.
Other highlights include
S06-37 120.4m .243 % Cu & .277 g/t Au includes 32.4m of .365 % Cu &
.314 g/t Au
S06-38 64.4 m .400 % Cu & .435 g/t Au includes 40.3m of .477 % Cu & .541
g/t Au
S06-39 160m .430 % Cu & .503 g/t Au
S06-40 84 m .465 % Cu & .534 g/t Au includes 64m .547 % Cu & .639 g/t Au
includes 18m .895 % Cu & 1.186 g/t Au ;
Over limit assays from 40-48 metres will increase the grade shown for
these intervals in S06-40
S06-42 138m .845 % Cu & 23 g/t Ag includes 42m 1.24 % Cu & .13 g/t AU
& 32 g/t Ag
Drilling intersected a mineralized breccia zone adjacent to a
quartz-feldspar porphyry stock which has proved to be of much greater
extent than previously thought. The breccia contains fragments of
intrusive and hornfelsed volcanics with pyrite-marcasite, chalcopyrite,
sphalerite, tetrahedrite, and minor galena; the sulphides occur as
infilling with quartz and siderite around the breccia fragments. One
diamond drill hole (S06-38) which contained the breccia with sulphide
infilling is located 200 metres from the previously mapped location of
this breccia (holes drilled from 1982-1985), and the other holes that
intersected the breccia (holesS06-37 and S06-38) prove that it is a much
wider and a more continuous body than was previously thought. There is a
good correlation of silver values with copper mineralization in the
breccia and through the areas of chalcopyrite mineralization. The
drilling area for this program was 500m by 400m, and the mineralization
encountered is open from the SW to the NW. Two other geophysical
anomalies having the same signature have been identified on the property
and have yet to be drilled. The company plans to increase the geophysics
coverage as currently it is only about 40%, and plans to commence a
winter drilling program this year Due to the results of this drilling
program on the Seel breccia and related copper porphyry, drilling on the
near-by Damascus silver vein was postponed.
The diamond drill holes were drilled NQ diameter and half-core
samples were sent to the Assayers Canada Labs facility in Vancouver,
B.C., and sample preparation was done at their facility in Telkwa, BC.
All samples underwent multi-element analysis by ICP/MS and wet geochem
gold.
The project is under the direction of Barbara Welsh, P.Eng, a
qualified person, as defined by National Instrument 43-101, for the
diamond drill program.
Gold Reach Resources is a Canadian exploration company actively
involved in the development of the Seel Property, an 8,446 hectare
copper-gold–molybdenum property located 120 km south of Houston, British
Columbia and 8 km to the east of the producing copper-gold-molybdenum
Huckleberry Mine.
ON BEHALF OF THE BOARD OF DIRECTORS
Conrad Swanson, President
Issued and
Outstanding
52.9 million shares
For further information, please contact:
Doug Kerr
Gold Reach Resources
Telephone: 604-718-5454
Toll Free 888-500-4587
Facsimile: 604-646-2054
Email:
doug@goldreachresources.com
Web:
www.goldreachresources.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES
NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF
THIS NEWS RELEASE.
Safe Harbour Statement: The Company relies upon
litigation protection for “forward-looking statements”.
|
