Goldbrook Ventures Inc.
TSX VENTURE : GBK

Goldbrook Ventures Inc.

November 12, 2009 15:56 ET

Goldbrook 2009 Drilling Enhances Mystery Ni-Cu-PGE Sulphides

DDH MYS09-011 intersects 54.3 metres of 0.84% Ni, 0.98% Cu and 2.97 g/t PGE+Au

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Goldbrook Ventures Inc. ("Goldbrook") (TSX VENTURE:GBK) is pleased to announce additional results from its 2009 Raglan project diamond drilling program. This program is carried out under an Option-Joint Venture agreement with Jilin Jien Nickel Industry Co., Ltd. of China. Goldbrook contracted four drill rigs from Bradley-Nuvumiut (Rouyn-Noranda) for a minimum of 15,000 metres of BQ-size core. The exploration program included geological mapping, prospecting, geochemistry and a 9000-km airborne VTEM geophysical survey. Eighty-seven (87) drillholes totaling 16,180 metres were completed in 2009.

The 2009 drilling program along the Belanger trend consisted of testing Ni-Cu-PGE zones with high potential for expansion, particularly the Mystery, Timtu and Pad zones, and also testing underexplored prospects and new targets as part of longer-term exploration objectives. Initial results of the 2009 drill program at Mystery were reported September 10 with a 95.4 m intersection on the Mystery Main deposit and discovery of the Mystery North zone. A news release dated September 21 announced additional information on the Mystery Main and Mystery North zones.

This news release completes reporting of the 2009 drilling results, and focuses on the Mystery area.

Drilling on the central and west part of the Mystery Main zone along sections 490825 and 490875 confirmed the up-dip presence of economic sulphides. This is in addition to a depth extension on section 490875 (see release Sept.10, 2009). The 2009 drilling brings the total depth dimension in the vicinity of section 490875 of the Mystery Main zone to over 375 vertical metres below surface and it remains open to depth.

MYSTERY MAIN ZONE:

The Mystery Main zone is extended eastward with a significant 54.3 m intercept in drill hole MYS09-011, bringing the total strike length of the deposit to over 175 m. This deposit is still open to depth and to the east, and has an apparent steep eastern plunge.

- Drillhole MYS09-006 intersected 18.0 metres of sulphides from 69.0 to 87.0 metres downhole with an average grade of 0.71% Ni, 0.75% Cu and 2.54 g/t PGE+Au.

- Drillhole MYS09-011 intersected 54.3 metres from 244.7 to 299.0 metres downhole averaging 0.84% Ni, 0.98% Cu, 0.05% Co and 2.97 g/t PGE+Au.

- Drillhole MYS09-013 intersected 18.0 metres from 35.0 to 53.0 metres downhole averaging 0.50% Ni, 0.61% Cu, 0.03% Co and 2.60 g/t PGE+Au.

- Drillhole MYS09-016 intersected 6.0 metres from 51.0 to 57.9 metres downhole averaging 0.59% Ni, 0.70% Cu, 0.04% Co and 1.41 g/t PGE+Au.

MYSTERY NORTH ZONE

The 2009 drilling at Mystery (see release Sept. 10, 2009) discovered the Mystery North zone located within the hanging wall of the Mystery ultramafics and about 75 metres north of the Mystery Main zone mineralization. Further drilling has better defined the North zone as a high-grade Ni-Cu zone of approximately 5 to 8 metres true width and with a vertical depth in excess of 170 metres.

- Drillhole MYS09-004 intersected 2.2 metres from 115.8 to 118.0 metres downhole with an average 1.24% Ni, 0.69% Cu, 0.08% Co and 1.67 g/t PGE+Au.

- Drillhole MYS09-005 intersected 6.2 metres from 155.60 to 161.80 meters downhole averaging 0.50% Ni, 1.26% Cu, 0.02% Co and 1.66 g/t PGE+Au, and 2.70 metres from 183.3 to 186.0 metres downhole with an average of 2.58% Ni, 1.13% Cu, 0.15% Co and 0.99 g/t PGE+Au.

- Drillhole MYS09-008 intersected of 3.1 metres from 116.4 to 119.5 metres downhole with an average grade of 1.64% Ni, 0.53% Cu, 0.08% Co and 0.61 g/t PGE+Au.



---------------------------------------------------------------------------
Table 1. Composited Assay Results 2009 - Mystery Prospect
---------------------------------------------------------------------------
Inter- PGE+
From To val Ni Cu Co Pt Pd Au Au
Hole Inter- ---------------- --------------- -----------------------
ID sect metres percent grams/tonne
---------------------------------------------------------------------------
Mystery Main Zone
---------------------------------------------------------------------------
MYS09-006 1 69.0 87.0 18.0 0.71 0.75 0.04 0.42 2.02 0.10 2.54
---------------------------------------------------------------------------
MYS09-011 1 244.7 299.0 54.3 0.84 0.98 0.05 0.51 2.24 0.22 2.97
---------------------------------------------------------------------------
MYS09-013 1 35.0 53.0 18.0 0.55 0.61 0.03 0.42 2.00 0.18 2.60
---------------------------------------------------------------------------
MYS09-016 1 51.0 57.0 6.0 0.59 0.70 0.04 0.28 1.08 0.05 1.41
---------------------------------------------------------------------------
Mystery North Zone
---------------------------------------------------------------------------
MYS09-004 1 115.8 118.0 2.2 1.24 0.69 0.08 0.17 1.44 0.06 1.67
---------------------------------------------------------------------------
MYS09-005 1 155.6 161.8 6.2 0.50 1.26 0.02 0.14 1.44 0.08 1.66
---------------------------------------------------------------------------
2 183.3 186.0 2.7 2.58 1.13 0.15 0.43 0.53 0.03 0.99
---------------------------------------------------------------------------
MYS09-008 1 116.4 119.5 3.1 1.64 0.53 0.08 0.15 0.43 0.03 0.61
---------------------------------------------------------------------------
MYS09-018 1 115.2 116.9 1.7 1.38 0.59 0.08 0.28 1.00 0.03 1.31
---------------------------------------------------------------------------
NOTE: Intersections are reported as actual core lengths, true widths may be
less than core widths depending on drillhole angle and orientation of the
intersected mineralized zone
---------------------------------------------------------------------------


Table 2. Mystery Prospect Drill hole Collar Coordinates and Details 2009
---------------------------------------------------------------------------
UTM Elev- Length
Hole ID Datum Zone Easting Northing ation (m) Dip Azimuth
---------------------------------------------------------------------------
MYS09-004 NAD83 18 490876.7 6806807.9 379.5 140.0 -43.9 180
MYS09-005 NAD83 18 490876.7 6806807.9 379.5 242.0 -58.0 180
MYS09-006 NAD83 18 490874.4 6806690.4 388.5 116.0 -44.9 180
MYS09-008 NAD83 18 490899.1 6806806.9 379.1 166.0 -45.0 180
MYS09-011 NAD83 18 490924.3 6806664.8 391.4 375.0 -59.0 180
MYS09-013 NAD83 18 490873.9 6806664.8 391.4 78.0 -45.0 180
MYS09-016 NAD83 18 490824.9 6806688.4 385.7 94.3 -45.0 180
MYS09-018 NAD83 18 490851.9 6806805.1 380.0 177.0 -45.0 180
---------------------------------------------------------------------------


Summary

The 2009 exploration program focused on expanding known resources and developing new Ni-Cu-PGE sulphide targets, particularly along the Belanger and related trends, as part of Goldbrook's longer term exploration objectives for the company. Until late September Goldbrook drilled 87 holes along the Belanger trend totaling over 16,180 metres. Samples from this drilling have been submitted to ALS Chemex in Vancouver and this release is the final compilation of drill results for the 2009 field season. In addition to testing new targets and the Timtu and Pad zones, continued drilling of the Mystery zone was a very high priority. In addition to its successful drilling program, Goldbrook executed a regional geological program including geological mapping, sampling and target assessment along with a 9000 line-km airborne VTEM survey. Data from these programs is providing information to help identify new drill targets in addition to the 6 principal zones that have been drilled to-date consisting of Mystery Main and North, Getty, Sylvie, Pad, Timtu and Bravo B4.

The Company will formulate an exploration program for 2010 that will include additional drilling in the Mystery area, and further drilling in the Timtu area to continue expansion of that significant zone both along strike and on its newly identified depth potential (reported October 19, 2009). Drilling is also contemplated at other promising zones along the Belanger trend including Bravo, lesser known prospects such as Delta Northeast, at new targets developed from 2009 regional work and also at locations at the eastern end of its large 860,000 acre land holding.

Analyses

Drillcore samples from the 2009 drill program were assayed by ALS Chemex Laboratories in Vancouver, BC (ISO 9001:2000 certified). Sample preparation was completed at its Yellowknife facility. Assay results for nickel, copper and cobalt were determined by HNO3-HCL digestion and ICP-AES finish and report nickel in sulphides. Platinum, palladium and gold were determined by fire assay fusion and ICP-AES finish. In addition to the ALS Chemex quality control procedures, Goldbrook inserts Certified Reference Materials, blanks and duplicates into the sample batches for independent quality control.

Jamie Pardy, PGeo (Quebec Special Authorization number 121), and G. Carter, PGeo (Quebec Special Authorization number 122), Vancouver, are qualified persons as defined by National Instrument 43-101 and have reviewed and verified the information contained and are responsible for the technical content of this press release.

ON BEHALF OF THE BOARD:

Brian Grant, PGeo, President and COO

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This press release contains "forward-looking information" that is based on Goldbrook's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Goldbrook's mineral discoveries, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Goldbrook's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to drilling results; the ability to raise sufficient capital to fund exploration; changes in economic conditions or financial markets; changes in prices for Goldbrook's mineral products or increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Goldbrook disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.

Contact Information

  • Goldbrook Ventures Inc.
    Brian Grant, PGeo
    President and COO
    (604) 683-8083 or Toll Free: 1-888-488-9884
    (604) 683-8087 (FAX)
    www.goldbrookventures.com