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Gold Reach Resources Ltd. NEWS RELEASE November 21, 2006
Gold Reach Expands on Significance of High Grade Breccia Intersections, reports zone open to the North and West, Porphyry Zone open to the South and releases Further ResultsVancouver, British Columbia: Gold Reach Resources Ltd. (GRH: TSX-V) ("Gold Reach" or the "Company") announces the assay results for 15 drill holes completed at the Seel property, located 120 km south of Houston, British Colombia and 8 km from the active copper producer, Huckleberry Mines Ltd. Twelve of the fifteen holes returned significant copper results +/- Au and Ag values. The best intersection contained 0.845 % Cu and 23 grams per tonne of Ag over 138 metres, including 1.24% Cu and 32 grams per tonne of Ag over 42 metres. Drill hole S06-40 intersected 0.505% Cu and 0.534 g/t Au over 84 metres, including 18 metres averaging 1.081% Cu and 1.185 g/t Au. Drill hole S06-40 is located 311 metres southwest of S06-42. The drilling area is approximately 445 metres by 500 metres in size. Drill holes S06-36 to S06-41 intersected mineralization consisting of disseminated, porphyry-style copper mineralization which exhibits relatively consistent grade, hosted by quartz-feldspar porphyry. These drill holes contain intervals ranging from 14 -160 metres of copper mineralization. The average grade of the mineralized intervals range from 0.191 – 0.505% Cu, and gold values averaged 0.163 – 0.534 g/t gold.. At present, this zone is open to the south Location Map: Gold Reach Resources Ltd. - Seel Claims - Drill Locations Map Drill holes S06-42 to S06-47 intersected the Seel breccia, believed to be a breccia pipe consisting of 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. These drill holes expand the lateral dimensions of the Seel breccia, and sections of Seel breccia encountered in drill holes S06-37 and S06-38 expand it to depth. However, the chalcopyrite is erratically distributed and controlled primarily by the size of open spaces between fragments. Assay results from drill hole S06-42 contained nineteen 2-metre samples that were over 1% Cu, six samples greater than 2% Cu, and one greater than 3% Cu, over the 138 metres of mineralization intersected. The Seel breccia is open to the north and west, and has been noted to occur at other locations on the property by previous workers. There is a good correlation of silver values with copper mineralization in the Seel breccia, and the soil samples appear to indicate that silver is a good pathfinder element that can be used to locate additional areas of Seel breccia. Location Map: Gold Reach Resources Ltd. - Seel Claims - Drill Locations Map Approximately 4000 metres of drilling is planned for early in 2007, in order to expand on both the Cu-Au and Cu-Mo porphyry mineralization, and the Seel breccia. Drill targets have been indicated by soil geochemical surveys, geophysics anomalies, and early prospecting. Gold Reach has received results from 15 of 15 drill holes and please note that the overall grade of hole 40 has increased due to over limit assays: DDH from to INTERVAL Cu % Au Ag Mo% m m m g/t g/t S06-33 230 238 8 0.134 190 280 90 0.007 S06-34 no significant intersections S06-35 16 32 16 0.351 1.8 1.910 g/t Au over 2m interval 142 152 10 0.078 and 158 172 14 0.019 S06-36 80 104 24 0.147 and 174 188 14 0.194 4.0 S06-37 39.6 160 120.4 0.243 0.277 incl. 39.6 72 32.4 0.365 0.314 and 216 238 22 0.258 14.5 S06-38 35.66 100 64.34 0.400 0.435 incl. 35.66 76 40.34 0.477 0.541 and 156 180 24 0.323 0.225 5.3 S06-39 44 204 160 0.430 0.503 1.7 incl. 44 174 130 0.456 0.532 1.8 S06-40 36 120 84 0.505 0.534 incl. 36 100 64 0.599 0.639 incl. 36 54 18 1.081 1.186 S06-41 46 120 74 0.191 0.163 S06-42 22 160 138 0.845 23.0 incl. 22 64 42 1.240 0.130 32.0 S06-43 no significant intersections S06-44 72 96 24 0.264 8.1 S06-45 30 48 18 0.103 2.4 S06-46 34 48 14 0.105 3.2 S06-47 106 144 38 0.301 10.8 incl. 106 132 26 0.420 13.7 incl. 106 120 14 0.704 21.7 Assaying Procedures The diamond drill holes were drilled NQ diameter and half-core samples were sent to the Assayers Canada Labs preparation facility in Telkwa, B.C., and then to Vancouver, B.C., for analysis. All samples underwent multi-element analysis by ICP/MS and wet geochem for gold. A QAQC (quality assurance, quality control) program conducted by Gold Reach consisted of the introduction of duplicate and blank samples into the sample sequence at semi-regular intervals. Samples were subjected to aqua regia digestion and analyzed for 32 elements using the induced coupled plasma (ICP) method. Atomic absorption was used to determine copper values exceeding 10,000 ppm. Gold was analyzed by fire assay with atomic absorption finish using a 15g pulverized sample. The in-house qualified person responsible for the projects is Barbara Welsh, P. Eng., VP of Exploration. The contents of this press release were reviewed and approved by Conrad Swanson, President of Gold Reach Resources. At the completion of the last drill program a total of 47 holes (10,000 metres to date) have been drilled on the Seel Property by the Company with the vast majority of the holes intersecting widths of mineralization. Gold Reach Resources holds a 90% interest in the Seel Property with Consolidated Abaddon Resources holding the remaining 10%. ON BEHALF OF THE BOARD OF DIRECTORS Conrad Swanson, President For further information, please contact: Doug Kerr 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”.
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