VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 07/18/13 — Gold Reach Resources Ltd. (TSX VENTURE: GRV) (Gold Reach and/or the Company) is pleased to announce that assay results for holes Ox13-68 to 71 from the Ox deposit have been received. The Ox deposit is located 4 kilometres north-northeast of the Company-s West Seel discovery, and both deposits occur on the Company-s 100% owned Ootsa Property located adjacent to the producing Huckleberry Mine south of Smithers, British Columbia.
HIGHLIGHTS
The 2013 drilling at the Ox deposit is focusing on infilling and expanding near surface mineralization along a higher grade core that may run the length of the system. The goal of this infill and expansion drilling will be to increase resource categories, tonnage, and grade ahead of economic studies later in the year.
Ox Drill Results
An updated drill hole location map for Ox is available here and cross sections J-J- and K-K- showing holes Ox13-68 to 72 are available here
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Summary of select drill intercepts – Holes Ox13-68 to 71
Holes Ox13-68, 69 and 70 are shown on section J-J-. All 3 holes were drilled to better define the east edge of mineralization on the section. Hole Ox13-68 intersected 58.5 metres grading 0.33% copper and 0.052% molybdenum (0.60% copper equivalent) from 15.5 to 74 metres depth. Hole Ox13-69 intersected 56.8 metres grading 0.33% copper and 0.049% molybdenum (0.59% copper equivalent) from 12.2 to 69 metres depth, including 22.6 metres grading 0.49% copper and 0.055% molybdenum (0.79% copper equivalent) from 38 to 60.6 metres depth. Hole Ox13-70 was a vertical hole which intersected 190.9 metres grading 0.29% copper and 0.035% molybdenum (0.48% copper equivalent) from 11.1 to 202 metres depth, including 80 metres grading 0.36% copper and 0.039% molybdenum (0.58% copper equivalent) from 122 to 202 metres depth. Hole Ox13-70 also intersected a precious metals enriched section returning 0.81% copper with 0.14 g/t gold and 6.66 g/t silver (1.1% copper equivalent) over 14 metres from 144 to 158 metres depth.
Hole Ox13-71 is shown on section K-K- and was an angle hole drilled toward the east designed to intersect the Damascus Fault and test for mineralization on the east side. The hole was drilled to a total depth of 384 metres and ended in mineralization. The hole encountered continuous mineralization over its entire length returning 359.4 metres grading 0.25% copper and 0.031% molybdenum (0.41% copper equivalent) from 24.6 to 384 metres depth, including 172.4 metres grading 0.32% copper and 0.042% molybdenum (0.55% copper equivalent) from 24.6 to 197 metres depth. The hole also intersected a 52 metre long interval grading 0.50% copper, 0.037% molybdenum, 0.09 g/t gold, and 2.65 g/t silver (0.73% copper equivalent) from 57 to 109 metres depth. This represents another zone of strong copper mineralization containing enriched gold and silver, and the hole significantly extends the zone of near-surface higher grade mineralization.
Dr. Shane Ebert, president of Gold Reach, commented: „Hole Ox13-71 has intersected mineralization on the east side of the Damascus Fault, below the pond, and validates our exploration model. This new extension to the deposit opens up significant potential to expand the resource to the east. Hole Ox13-71 has intersected continuous mineralization for 250 metres vertically below surface, showing good potential to expand resources to depth as well. The core zone of higher grade mineralization at Ox has now been traced for 600 metres along strike and the zone shows remarkable continuity along that strike length. Additional holes stepping out to the north and east have been completed looking to extend the higher grade core and find the limits of the mineralized zone.“
Drilling Update
Assay results for the first 27 holes drilled at Ox during the 2013 program have been received (holes Ox13-45 to Ox13-71). An additional 16 holes have been completed at Ox (Ox13-72 to 87) and are in the lab getting assayed. The drill is currently working on hole Ox13-88.
The current round of drilling is focusing on infilling and expanding three areas of higher grade near-surface mineralization with open pit potential at Ox, East Seel, and West Seel. Previous drilling in all three zones has intersected significant grades at shallow depths including hole S11-90 at East Seel which returned 194 metres grading 0.37% copper and 0.42 g/t gold (0.66% copper equivalent) starting at 22 metres depth (previously released), hole S06-42 just north of East Seel which returned 138 metres grading 0.85% Cu and 23 g/t Ag (1% copper equivalent) starting at 22 metres depth (previously released), and hole S12-108 at West Seel which intersected 316 metres grading 0.56% copper equivalent starting at 24 metres down hole, including 30 metres grading 1% copper equivalent starting at 74 metres down hole.
Additional information is available on our website at .
About Gold Reach Resources
Gold Reach Resources Ltd. has made an important new and strategic Copper Gold Molybdenum discovery on its 100% held Ootsa Property located adjacent to the 16,000 tonne per day Huckleberry Mine currently producing Cu Au and Mo in central BC.
Gold Reach-s Ootsa property is an advanced stage exploration project containing the Seel and Ox porphyry systems both with compliant resource estimates open for expansion. The Company has recently added the discovery of the West Seel Porphyry where drill hole S12-118 encountered 128 metres grading 1.01% Cu Eq. consisting of 0.43% Cu, 0.33 g/t Au, 0.076% Mo and 4.76 g/t Ag within a much larger interval of 537 metres grading 0.65% Cu Eq. consisting of 0.27% Cu, 0.19 g/t Au, 0.055% Mo, and 2.69 g/t Ag. The Seel deposit contains 67.8 million tonnes of indicated resources and 410.9 million tonnes of inferred resources at a 0.2% copper equivalent cut off. The Ox deposit contains 52.65 million tonnes of inferred resources at a 0.2% copper equivalent cut off.
Quality Control
All drill core is logged, photographed, and cut in half with a diamond saw. Half of the core is bagged and sent to AGAT Laboratories for analysis (which is an ISO 9001 and ISO/IEC 17025 certified lab), while the other half is archived and stored on site for verification and reference purposes. Gold is assayed by standard fire assay methods with 45 additional elements analyzed by Induced Coupled Plasma (ICP) utilizing a 4-acid digestion. Duplicate samples, blanks, and certified standards are included with every sample batch and then checked to ensure proper quality assurance and quality control.
Dr. Shane Ebert P.Geo., President of the Company, is the Qualified Person for the Ootsa project as defined by National Instrument 43-101 and has approved the technical disclosure contained in this news release.
Shane Ebert, President/Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Safe Harbour Statement: The Company relies upon litigation protection for „forward-looking statements.“ The Company undertakes no obligation to update these forward- looking statements in the managements beliefs, estimates obligations or other factors should change.
Contacts: Gold Reach Resources Ltd. Shane Ebert President/Director 604-718-5454 or Toll Free: 888-500-4587 S. Ebert direct line: 250 964-2699
B&D Capital Partners Don Mosher 604-685-6465
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