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Gold Reach Resources Ltd. NEWS RELEASE April 2, 2007
Gold Reach Announces Results of Drill Program on Ox Lake ClaimsGold Reach Resources Ltd. (GRH: TSX-V) is pleased to announce completed results on the 12-hole, 2380-metre drill program recently concluded at Ox Lake in Central BC. Results have verified the previous grades. In the table below, “Cu equivalent” is based on $20 per lb. Mo and $2 per lb. Cu (10:1 ratio). The most significant results so far are from Ox07-6 which was drilled at -75°, as it extends the mineralized zone an additional 55 metres at depth, and Ox07-11, which extended the known mineralized zone to the north of the lake. Hole #8 (azimuth 330° and dip -45°) west of lake, was entirely an exploratory hole to test the area adjacent to a second Bulkley intrusion of dioritic composition that had a strong gossan associated with it. Drill holes Ox07-7, 9, and 11 have better defined the location of the intrusive contact, and indicated drill targets for the next phase of drilling. Drill holes 2 - 6 and 9 -10 confirm the previous drilling.
The Ox Lake property was located in 1968 by a regional prospecting program conducted by Silver Standard Mines Ltd. and ASARCO. The geology of the Ox Lake property, like Huckleberry Mountain, is relatively simple: a small sub-circular, single phase stock of porphyritic biotite granodiorite which intrudes and hornfelsed felsic to intermediate tuffs of the Hazelton group. The main host to mineralization is an intense stockwork of veins and fractures in the hornfels, while molybdenum concentrated in porphyry dykes. The highest grades occur at the porphyry-hornfels contact and gradually decline in the hornfels away from the contact. Initial drilling in 1968 defined a pre-43-101 reserve of 51 million
tons grading 0.528% Cu copper equivalent (1968 prices, and the reader is
cautioned these figures are not 43-101 compliant and should not be
relied upon). This 51 Mt was based on a maximum vertical depth of
approximately 120 metres, but drill hole Ox07-6 has added over 55 metres
to that depth. Two major faults are recognized at Ox Lake; these trend
north and west respectively, and most likely have disrupted the ore zone
which presumably encircles the intrusion all the way around. Approximately 6000 metres has been planned for drilling new targets on Seel, Damascus, and Ox Lake areas and will commence this spring. Wardop Engineering is currently conducting a resource estimate on the Seel and Ox Lake areas and results will be released once that work is completed. A map showing the location of this drill program can be viewed at the Company’s website at: Ox Lake drill program map. All drill core has been submitted for analysis with Assayers of Canada with results expected near the end of March. The project is under the direction of Barbara Welsh, P.Eng, a qualified person, as defined by National Instrument 43-101. About Gold Reach: Gold Reach Resources is a Canadian exploration company actively involved in the development of the Seel and adjoining Ox Lake claims, a 17,149.5 hectare copper-gold-molybdenum-silver project located 120 Km south of Houston, BC and eight kilometres to the east of the producing Huckleberry Mine. 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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