Golden Peaks Cuts 28 Meters of 4.88 g/t Gold
April 14, 2010, -- Vancouver -- Golden Peaks Resources Ltd. (TSX: GL) (the "Company") is pleased to report assays for hole LF-143 drilled on the T-11 zone of its La Fortuna Gold Project, Argentina.
|Hole #||From (m)||To (m)||Interval (m)||Gold g/t||EOH (m)|
Hole LF-143 is one of nine holes drilled, to-date, on the T-11 and G zones. The strong intersection in hole LF-143 demonstrates the presence of significant gold mineralization in this area and the intersection is consistent with previous intersections in the T-11 zone. The T-11 zone has now been drilled over ~1,400 meters (90 holes) and the Company is confident the current drill program will continue to expand the zone.
As part of this program Golden Peaks is also drilling the large breccia targets which underlie and flank the T-11 and G zones. These targets, identified by a CSAMT survey and in part by drilling, may be the root zones of the high grade gold-bearing quartz veins/breccias that occur in the T-11 and G zones. The CSAMT survey indicates the conductive zones that host the gold mineralization persist to depths in excess of 500 meters.
Gold +/- silver mineralization in the La Fortuna gold project occurs in an area of ~ 2 X 2 km, within a broad, NE-trending regional fault zone.
Assays will be released once received, verified and evaluated.
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.