• TSX:
  • RCG.V

Golden Peaks Drilling Deep Breccia Targets

May 6, 2010

May 6, 2010, - Vancouver - Golden Peaks Resources Ltd. (TSX: GL) (the "Company") is pleased to update drilling its La Fortuna Gold project, Argentina.

The Company is currently drilling CSAMT targets (holes CS-1,CS-2) which lie at depths of -200 meters to -500 meters. These are potentially high impact targets and may represent the root zones of high grade gold-bearing quartz veins/breccias that occur in the T-11 and G zones.

Holes CS-1 and CS-2 are also designed to potentially extend the T-11 and G zones to depths of between 150 to 350 meters. Diagram http://www.goldenpeaks.com/i/maps/CSAMT-Line55750-3W.jpg

Brecciated and pyritized sub-volcanic intrusives, and pyritic pneumatolytic breccias have already been intersected in drilling within the large (~2 X 2 km) area of hydrothermal alteration and pyritization that is centred on the intersection of the A and CR Structures.

Selected intersections (previously released) from the T-11 and G zones include the following:

Hole # Intersection
Gold (g/t) Zone
LF-1 21.75 3.30 T-11
LF-1A 13.90 3.28 T-11
LF-7 50.00 3.65 T-11
LF-8 23.00 3.62 T-11
LF-9 62.70 2.05 T-11
LF-10 68.36 2.35 T-11
LF-11 38.00 5.72 T-11
LF-12 13.00 3.30 T-11
LF-13 23.90 3.97 T-11
LF-96 29.50 1.94 T-11
LF-98 20.00 5.37 T-11
LF-105 55.00 2.44 T-11
LF-142 30.00 3.00 T-11
LF-143 28.00 4.88 T-11
LF-70 22.00 3.65 G
CRW-9 41.00 2.01 G
CRW-10 95.00 0.73 G

Down hole widths; true widths cannot be reliably estimated at this time.

Chairman Scott Emerson said "These targets are very exciting as they could potentially open up the mineralization from the surface to depths of over 500 meters, and if successful will greatly change the project dynamics."

The diamond drill contractor is Energold Drilling Corp. A lightweight, portable drill is being used to minimize environmental impact. All samples are being assayed by Alex Stewart (Assayers) Argentina S.A.

This press release has been reviewed and approved by Dr. Kieran Downes, P.Geo., President of Golden Peaks Resources Ltd. and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out.

Media Information, contact:
Scott Emerson, Chairman and Director

Investor Information, contact:
Mike Kordysz, Investor Communications

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Subscribe for Email Updates