Goldbrook Ventures Inc.
TSX VENTURE : GBK

Goldbrook Ventures Inc.

September 21, 2009 11:35 ET

Goldbrook Expands Mystery Ni-Cu-PGE Sulphide Zone

MYS09-002 intersects 27.5 m of 0.90% Ni, 1.33% Cu, 0.05% Co and 5.18 g/t PGE+Au

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 21, 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 the second set of 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 also includes geological mapping, prospecting and an extensive airborne VTEM geophysical survey. Field crews mobilized to the Belanger base camp in mid June. As of early September a total of 87 holes totaling over 16,000 meters had been completed.

Mystery Prospect

Drilling on the Mystery 490875 East section continued to successfully intersect significant mineralization. DDH MYS09-001 and MYS09-002 confirmed and extended both the Main and the North zone mineralization encountered in MYS09-003 (see press release of Sept. 10th).

The 2009 drilling at Mystery was designed to help define the size and extent of the Mystery discovery of 2008, which is about 10 kilometres west of Goldbrook's Getty-Sylvie deposits. In the course of this exploration Goldbrook has now discovered what is termed the "Mystery North zone" located within the hanging wall of the Mystery ultramafics and about 75 metres north of the Mystery Main zone mineralization. Drilling continued in August to further test both the North and Main zone mineralization.

This release reports lab assay data for additional drillholes used to identify the distinct North zone mineralization and expand the Mystery Main zone, on section 490875 East. Drillhole MYS09-002 contains a sulphide intersection identified as North zone mineralization over 4.3 metres from 15.8 to 20.1 metres downhole with an average grade 0.96% Ni, 0.96% Cu, 0.05% Co, 1.32 g/t PGE+Au. Drillhole MYS09-002 also intersected the Main zone sulphides over 27.5 metres from about 183.5 to 211 metres downhole with an average grade of 0.90% Ni, 1.33% Cu, 0.05% Co and 5.18 g/t PGE+Au.

Drilling to date confirms the significant potential of the Ni-Cu-PGE sulphide zones at Mystery. The Mystery drill program results from testing a coincident EM and magnetic response from a 2007 airborne geophysical VTEM survey, and a very strong downhole EM anomaly obtained during the 2007 drill program and in subsequent drilling. The mineralization has been tested to a depth in excess of 375 metres below surface and remains open to depth and east of the current drill pattern.

Highlights of drillhole MYS09-002, at 490875E, -55 degrees include:

- North zone intersection is over 4.3 metres from 15.8 to 20.1 metres downhole, with an average grade of 0.96% Ni, 0.96% Cu and 1.32 g/t PGE+Au; and,

- Main zone intersection of 27.5 metres from 183.5 to 211.0 metres downhole with an average grade of 0.90% Ni, 1.33% Cu, 0.05% Co and 5.18 g/t PGE+Au.

Highlights of drillhole MYS09-001, at 490875E, -45 degrees include:

- Main zone intersection of 28.0 metres from 128.0 to 156.0 metres downhole, with an average grade of 0.7% Ni, 1.49% Cu and 2.9 g/t PGE+Au; and,

- Main zone intersection of 4.0 metres from 162.0 to 166.0 metres downhole with an average grade of 0.36% Ni, 0.46% Cu, and 1.76 g/t PGE+Au.



Table 1. Composited Assay Results 2009 - Mystery Prospect
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Inter- PGE
From To val Ni Cu Co Pt Pd Au +Au
Inter- --------------------------------------------------------
Hole ID section metres percent grams/tonne
---------------------------------------------------------------------------
North Zone
MYS09-002 1 15.80 20.10 4.30 0.96 0.96 0.05 0.30 0.98 0.04 1.32

Mystery Main Zone
MYS09-001 1 128.00 156.00 28.00 0.70 1.49 0.04 0.50 2.06 0.34 2.90
2 162.00 166.00 4.00 0.36 0.46 0.02 0.41 1.32 0.03 1.76
MYS09-002 2 183.50 211.00 27.50 0.90 1.33 0.05 0.89 4.11 0.18 5.18
---------------------------------------------------------------------------
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 Drillhole Collar Coordinates and Details 2009
---------------------------------------------------------------------------
UTM Length
Hole ID Datum Zone Easting Northing Elevation (m) Dip Azimuth
---------------------------------------------------------------------------
MYS09-001 NAD83 18 490875 6806744 380 178 -45 180
MYS09-002 NAD83 18 490875 6806744 380 262 -55 180
---------------------------------------------------------------------------
Explanatory notes: Elevation and length are in metres; dip & azimuth are in
degrees
---------------------------------------------------------------------------


Other Exploration

In addition, to early September Goldbrook has drilled over 87 holes on other targets along the Belanger trend totaling over 16,000 metres. Samples from these holes have also been submitted to ALS Chemex in Vancouver and assays are pending.

Summary

The 2009 exploration program is focused on developing new Ni-Cu-PGE sulphide targets, particularly along the Belanger and related trends, as part of Goldbrook's longer term exploration objectives of the company. In addition to testing new targets and the known Timtu and Pad zones for extensions, continued drilling around the Mystery zone is very a high priority for the 2009 drilling season. Further assay results will be released as they become available.

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 the ALS 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 1-888-488-9884
    (604) 683-8087 (FAX)
    www.goldbrookventures.com