Golden Reign Resources Ltd. announces southern district trenching program update
Tuesday, Jan 15, 2013Golden Reign Resources Ltd. (TSX VENTURE:GRR) (the "Company" or "Golden Reign") is pleased to provide an update on the on-going 2012/2013 regional trenching program in the Southern District of its San Albino-Murra Property (the "Property") located in Nueva Segovia, Nicaragua.
Approximately 1.5 kilometres south of the San Albino Gold Deposit, trenching has outlined 4 parallel NE/SW trending mineralized zones (see attached map: http://media3.marketwire.com/
All 4 mineralized zones are situated within the Corona de Oro Gold Belt, which hosts the San Albino Gold Deposit with Indicated resources of 95,000 ounces gold equivalent at 8.47 g/t and Inferred resources of 805,000 ounces gold equivalent at 7.43 g/t (see news releases of November 20, 2012 and January 7, 2013).
The mineralized zones, from North to South, are: San Pablo; Intermediate; Las Conchitas/Rio Jicaro; and, Las Dolores. All of the trenches completed within each zone intersected quartz veins mineralized with galena, arsenopyrite, pyrite and native gold. All zones are currently open along strike in both directions and down dip. On-going trenching is expected to extend the strike length of each zone. Trenching results, currently pending, will be used to prioritize drill targets for the proposed 2013 drilling program.
Golden Reign has also designed a series of exploration pits to expose mineralized veins intersected by trenching along strike and down-dip. A total of 11 exploration pits have been completed thus far. The true thickness of each vein exposed by exploration pit was measured and sampled. The Company plans to collect bulk samples from the exploration pits for metallurgical testing purposes and to better estimate the grade potential of the mineralized zones.