Goldmarca Limited
TSX VENTURE : GML
PINK SHEETS : GMLCF

Goldmarca Limited

January 22, 2007 13:14 ET

Goldmarca Mobilizes Drill Rig on Targets Defined by Geophysics at Eccometals Gold Project

PANAMA CITY, REPUBLIC OF PANAMA--(CCNMatthews - Jan. 22, 2007) - Goldmarca Limited (TSX VENTURE:GML)(PINK SHEETS:GMLCF) is pleased to report that it has completed 47 line kilometers induced polarization and ground-magnetic geophysical survey at the Eccometals Gold Project Ecuador. The survey confirmed the presence of the +2 km long structure striking NE and cross structures. (see Figures 1, 2, 3 and 4). The induced polarization survey located a major zone of relatively high chargeability adjacent to the Aurelian Resources Fruta de Norte concession that could represent sulphide mineralization at depth. Gold in the region is associated with sulphide mineralization. High chargeability and low resistivity (high-conductivity) (SEE ZONE 1 FIGURE 2) and high chargeability and high resistivity (SEE ZONE 2 FIGURE 3) signatures were observed and represent drill targets. Coincident High chargeability and high resistivity may indicate sulphide mineralization with associated silica alteration. The anomalous zones delineated by the Induced Polarization signature and the ground magnetic survey correlate well with known major fault structures which represent ideal traps for potential gold mineralization.

The geophysical survey was carried out by GEOFISICA CONSULTORES S.R.L. of Peru. Interpretative software used was Geosoft -Oasis; GEMLINK ; and DCIP-2D induced polarization inversion software from the University of British Columbia Canada.

The chargeability and resistivity sections can be viewed on the company web site www.goldmarca.com.

A diamond drill rig is being mobilized to commence drilling in two weeks to test the drill target zone.

Dr Howard Lahti, Ph.D. Geology is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release. He has reviewed the contents for accuracy.

On behalf of the Board of Directors,

Robin Slaughter,

President and Chief Executive Officer

ABOUT GOLDMARCA: Goldmarca Limited (TSX VENTURE:GML) is an international mining company that is engaged in adding value to gold and base metal projects with a primary focus on assets in South America and Australia. By applying unique technology and expertise, Goldmarca is focused on delivering a low-cost option to develop resource projects that can provide a one-year payback of all capital costs. Goldmarca is also listed on the Frankfurt and Berlin exchanges under the symbol "GDQ". For more information, please visit www.goldmarca.com.

Safe Harbor Statement: Statements contained in this release that are not historical facts are forward-looking statements which involve risk and uncertainties, which could cause actual results to differ materially from those, expressed in forward-looking statements including the following: changes in economic or environmental conditions and the Company's ability to execute its business model and strategic plans. The Company relies on litigation protection for forward-looking statements.

To view Figures 1, 2, 3 and 4, please click on the following link: http://www.ccnmatthews.com/docs/gml-figures.pdf.

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

Contact Information

  • Goldmarca Limited
    Robin Slaughter
    President & CEO
    (507) 66714370
    or
    Goldmarca Limited
    Nick Demare
    Director & CFO
    604) 685-9316
    Email: info@goldmarca.com
    Website: www.goldmarca.com
    or
    Pro-Edge Consultants Inc.
    Tracy Weslosky
    Managing Partner
    1-866-544-9622 or (416) 581-0177
    or
    Pro-Edge Consultants Inc.
    Fred Cowans
    Managing Partner
    1-866-544-9622 or (416) 581-0177
    Email: info@pro-edge.com