Goldrush Announces 99 Percent increase of Gold Resource at the Ronguen Gold Deposit, Burkina Faso
Goldrush Resources is pleased to announce that it has received a new mineral resource statement for its Ronguen gold deposit in Burkina Faso. For oxide gold resources, the new rcedar rapids crushersesource contains 150,000 ounces of gold in the Measured category (4.143 million tonnes grading 1.12 grams of gold per tonne; 159,000 ounces of gold in the Indicated category (3.861 million tonnes grading 1.28 gpt Au); and 8,000 ounces in the Inferred category (136,000 tonnes grading 1.91 gpt Au) using a cut-off grade of 0.4 gpt gold. In addition, the bottom of the conceptual pit shell used to constrain the mineral resource statement for the Ronguen deposit is estimated to contain 23,000 ounces of gold in the Measured and Indicated categories in fresh rock (483,000 tonnes grading 1.51 gpt Au) and 44,000 ounces of gold in the Inferred category (754,000 tonnes grading 1.83 gpt Au), at a cut-off grade of 0.7 gpt Au.
Ronguen is located on Goldrush's Kongoussi 1 and Tikare permits, 100 kilometres north of the capital city of Ouagadougou, 45 kilometres east of Cluff Gold's Kalsaka heap leach gold mine and 10 kilometres northwest of High River Gold's Bissa gold mine which is currently in development. Ronguen enjoys proximity to paved highways and the Lac Bam water supply and is within three kilometres of the southern boundary of the regional centre of Kongoussi, (the capital of Bam province), which has an approximate population of 45,000.
Len Brownlie Ph.D, President and CEO of Goldrush commented: "The oxidized portion of the new gold resource, amenable to low processing cost heap leaching, has nearly doubled relative to the 2008 initial mineral resource statement from 160,000 inferred ounces to 309,000 combined measured and indicated ounces and an additional 8,000 inferred ounces. In addition to substantially increasing the size of the oxide mineral resource, the work completed by Goldrush has significantly increased the quality of the mineral resources as most of the oxide portion of the deposit is now classified into the Measured and Indicated categories, while the initial (2008) mineral resource statement contained only inferred ounces.
We are very encouraged by the potential to develop a heap leach, open pit operation at Ronguen. We intend to complete a Preliminary Economic Assessment as we continue to explore the "blue sky" potential related to this thrust fault hosted deposit where targets for additional mineralization are located on the potential extension of the South Zone, at depth in the Main Zone and on a parallel zone located within one kilometre to the north of the Main Zone, as well as at unexplored and underexplored areas of potential on the Kongoussi 1 and Tikare permits."
The mineral resource statement was prepared by SRK Consulting and relied on an exploration database consisting of 245 reverse circulation drill holes totalling 21,782 metres, 57 HQ core holes totalling 7,079 metres and 38 trenches totalling 3,862 metres. The vast majority of the drill holes are angled and shallow, with a total hole length of generally < 120 metres, and tested little of the fresh rock depth potential of the deposit.
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