Goldrush Resources Ltd.
TSX VENTURE : GOD

Goldrush Resources Ltd.

January 15, 2008 11:27 ET

Goldrush Intersects High Grade Gold Mineralization at Ronguen

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 15, 2008) - Goldrush Resources Ltd. (TSX VENTURE:GOD) ("Goldrush" or the "Company") reports very positive results from its program of 19 infill core drill holes and 16 trenches on its Ronguen gold project in Burkina Faso, West Africa. This program was conducted during October and November of 2007 to provide sufficient data to enable the completion of a Canadian Institute of Mining, Metallurgy and Petroleum National Instrument 43-101 resource estimate in Q1-2008. In this program there were 19 core holes totaling 2001 linear metres drilled and 16 trenches totaling 1527.7 linear metres excavated, at an average of 80 metre spacings over the entire 1.5 km strike length of the Ronguen Main Gold Zone. The depth of the mineralized zone was extended in this program from 80 metres, which was the previous maximum depth of drilling, to 145.5 metres.

Assay highlights from core drilling completed during the October/November, 2007 program include:

- 14.83 g/t Au over 6.0 metres

- 12.37 g/t Au over 3.0 metres

- 3.33 g/t Au over 7.85 metres

- 1.74 g/t Au over 11.65 metres

- 1.64 g/t Au over 14.0 metres

- 1.06 g/t Au over 32.0 metres

Assay highlights from trenching completed during this latest program include:

- 22.14 g/t Au over 14.6 metres (including 160.2 g/t Au over 1.4 m)

- 7.21 g/t Au over 9.1 metres

- 2.71 g/t Au over 25.0 metres

- 3.62 g/t Au over 16.0 metres

- 1.49 g/t Au over 33.0 metres

- 2.19 g/t Au over 15.5 metres

- 1.99 g/t Au over 17.0 metres

- 2.39 g/t Au over 13.0 metres

- 1.52 g/t Au over 17.9 metres

- 7.92 g/t Au over 3.0 metres

Potential Satellite Zones

In addition to the infill drilling and trenching program on the main Ronguen Gold Zone, the Company excavated trench KGRTR-570E over a potential satellite zone, the "Ronguen South Zone" occurring parallel to, and approximately 200 metres south of the main zone. This 57 metre long trench intersected 10 metres of 1.34 g/t gold and 15.5 m of 2.19 g/t gold. Further to this, rock sampling of a previously undiscovered mineralized quartz vein located 700 metres south of the Ronguen Main Zone has also provided encouraging results, with three of seven samples providing gold values of 0.98 to 3.3 g/t gold.

From acquisition in early 2006 to November 30, 2007, the Company has completed 338 drill holes totaling 19,599 metres of rotary air blast, reverse circulation and diamond drilling on Ronguen.

This most recent program was designed to:

- allow for an independent calculation of an inferred resource,

- expand the mineralized zone below a depth of 80 metres,

- commence exploration on the Ronguen South Zone.

All three objectives were met and will permit a NI 43-101 resource estimate to be completed before the end of the first quarter, 2008.

Len Brownlie Ph.D, President and CEO of Goldrush commented, "Goldrush management is greatly encouraged by this latest discovery of high grade gold mineralization at Ronguen that substantially enhances the previously identified mineralization. Additionally, this most recent exploration program has identified a potentially important new zone of mineralization 200 metres to the south of the main Ronguen Gold Zone. Further exploration and resource modeling work is required, however Ronguen's proximity to High River's Bissa project and Goldrush's priority access to a mill built at Bissa, should such occur, as a consequence of its Strategic Alliance Agreement with High River, will significantly reduce the capital costs of developing an open pit deposit at Ronguen and bode very well for the development of this project."

Ronguen is located on the Kongoussi 1 and Tikare permits, six kilometres northwest of High River Gold Mines Ltd.'s (HRG:TSX) ("High River") Bissa Project. In July, 2007, High River began exploration work to increase the sizable gold resource at Bissa.(1)

(1) The current resource at Bissa consists of 81,980 measured ounces of gold (753,000 tonnes averaging 3.39 g Au/t); 580,270 indicated ounces of gold (11,253,000 tonnes averaging 1.60 g Au/t) and 679,470 inferred ounces of gold (16,394,000 tonnes averaging 1.29 g Au/t)) (see High River news release dated July 12, 2007). (Readers are cautioned that the Company has not independently verified the Bissa resource estimate and that the presence of a gold resource at Bissa is not necessarily indicative that gold mineralization present on the Bissa property continues into Kongoussi 1).

Further Exploration

During January, 2008, three of the existing trenches will be extended and two new trenches will be excavated in the Ronguen Main Zone to test a dextral Z fold that may represent a N-S trending dilational structure within the dominantly E-W trending shear zone. In addition, four new trenches will be excavated to test the eastern and western extensions of the new Ronguen South Zone. No further drilling will be done on the Ronguen Main Zone until structural surveys and interpretation currently in progress have better defined the geometry of the mineralized area.

DETAILED RESULTS OF THE OCTOBER/NOVEMBER, 2007 PROGRAM

Trenching Program Details

The current trenching program on both the Ronguen Main and Ronguen South Zones consisted of 16 trenches totaling 1,527.7 metres that were excavated to a maximum depth of 4.6 metres. Trenches were excavated with a length of between 31 and 217 metres and were orientated to cross the main Ronguen Gold Zone at an azimuth of either 24 or 340 degrees. The Company collected a total of 1,519 channel samples and 131 grab samples, which were submitted for assay along with 46 blank samples, 105 assay standards and 31 duplicate samples. Channel samples were collected by continuous sampling of the trench wall approximately 15 cm above the bottom of the trench.

Significant (uncapped) trench assay results are as follows:



--------------------------------------------------------------------------
Average
Assay gold
from to interval Grade
TRENCH ID x-utm y-utm (m) (m) (m) (g/t)
--------------------------------------------------------------------------
KGRTR07-903E 656229.19 1466210.98 118 128 10 0.57
--------------------------------------------------------------------------
KGRTR07-973E 656284.39 1466259.45 60.1 78 17.9 1.52
--------------------------------------------------------------------------
and 81 106 25 2.71
--------------------------------------------------------------------------
KGRTR07-1063E 656370.91 1466277.93 20.7 21.5 0.8 7.14
--------------------------------------------------------------------------
and 40.1 49 8.9 0.82
--------------------------------------------------------------------------
and 91.3 100 8.7 1.09
--------------------------------------------------------------------------
and 129.9 139 9.1 7.21
--------------------------------------------------------------------------
KGRTR07-1143E 656452.54 1466289.55 83.8 87 3.2 3.86
--------------------------------------------------------------------------
KGRTR07-1223E 656541.91 1466291.9 50 83 33 1.49
--------------------------------------------------------------------------
KGRTR07-823E 656112.17 1466279.36 20 37 17 1.99
--------------------------------------------------------------------------
KGRTR07-878E 656007.73 1466271.92 12 16 4 1.28
--------------------------------------------------------------------------
and 19 32 13 2.39
--------------------------------------------------------------------------
and 35 38 3 4.27
--------------------------------------------------------------------------
KGRTR07-678E 655813.59 1466322.95 26 42 16 3.62
--------------------------------------------------------------------------
KGRTR07-630E 655765.06 1466332.01 10.4 25 14.6 22.14
--------------------------------------------------------------------------
including 1.4 160.2
--------------------------------------------------------------------------
KGRTR07-743E 655874.76 1466301.03 21 29 8 1.46
--------------------------------------------------------------------------
KGRTR07-543E 655658.7 1466295.88 11.1 17.2 6.1 1.25
--------------------------------------------------------------------------
and 47 55 8 1.72
--------------------------------------------------------------------------
KGRTR07-503E 655615.11 1466293.38 38 41 3 7.92
--------------------------------------------------------------------------
and 44 47.7 3.7 2.34
--------------------------------------------------------------------------
and 50.3 57 6.7 1.14
--------------------------------------------------------------------------
and 72 74.1 2.1 2.31
--------------------------------------------------------------------------
KGRTR07-570E 655932.31 1466051.89 11 21 10 1.34
--------------------------------------------------------------------------
and 24 39.5 15.5 2.19
--------------------------------------------------------------------------


Readers are cautioned that there is insufficient structural information available at this time to determine the detailed geometry of the mineralized zone. It is unlikely the above reported trench intervals represent true widths.

Core Drilling Program Details

The current drilling program consisted of 19 holes totaling 2,001 metres that were drilled to a maximum depth of 145.5 metres. Drill holes were spotted along a 1,500 metre east-west corridor and were orientated to cross the main Ronguen Gold Zone at an azimuth of either 24 or 340 degrees and an inclination of approximately 45 degrees. The most eastern and western drill holes (KGRC07-016 and KGRC07-010, respectively) both encountered significant mineralization and the Ronguen Gold Zone appears to be open at depth. The Company sent a total of 2,180 samples for assay along with 111 blank samples and 108 certified assay standards.

Significant assay results are as follows:



--------------------------------------------------------------------------
Average
Sampling gold
from to interval Grade
HOLE ID x-utm y-utm (m) (m) (m) (g/t)
--------------------------------------------------------------------------
KGRC07-003 656191.59 1466283.52 14.85 26.5 11.65 1.74
--------------------------------------------------------------------------
KGRC07-004 656213.41 1466233.29 50.05 62 11.95 0.95
--------------------------------------------------------------------------
and 87.6 91.85 4.25 3.12
--------------------------------------------------------------------------
KGRC07-005 656374.67 1466258.81 36 52 16 0.77
--------------------------------------------------------------------------
KGRC07-006 656354.38 1466310.06 8.2 13 4.8 1.06
--------------------------------------------------------------------------
and 16 48 32 1.06
--------------------------------------------------------------------------
KGRC07-007 656459.11 1466267.74 39 41.75 2.75 2.17
--------------------------------------------------------------------------
KGRC07-008 656547.71 1466273.3 33 45.75 12.75 1.23
--------------------------------------------------------------------------
KGRC07-009 656617.54 1466306.69 26 34 8 1.24
--------------------------------------------------------------------------
KGRC07-010 655919.18 1466198.61 77 84.7 7.7 1.78
--------------------------------------------------------------------------
KGRC07-011 655832.2 1466194.36 88 98 10 1.5
--------------------------------------------------------------------------
KGRC07-013 655656.58 1466296 3.5 5.6 2.1 2.35
--------------------------------------------------------------------------
and 8.9 13.8 4.9 1.49
--------------------------------------------------------------------------
KGRC07-014 655522.71 1466295.78 26.5 32.2 5.7 2.01
--------------------------------------------------------------------------
KGRC07-015 655372.45 1466336.69 62.5 68.5 6 14.83
--------------------------------------------------------------------------
KGRC07-016 655190.12 1466308.74 105.65 113.5 7.85 3.33
--------------------------------------------------------------------------
KGRC07-019 656396.67 1466203.07 74 88.75 14.75 1.06
--------------------------------------------------------------------------
and 98 112 14 1.64
--------------------------------------------------------------------------
and 117 122.3 5.3 1.09
--------------------------------------------------------------------------
KGRC07-020 656680.06 1466260.76 46 49 3 12.37
--------------------------------------------------------------------------


True widths are 90 to 95% of core intervals. A surface plan showing the drill hole locations and orientations will be made available at www.goldrushresources.ca.

Structural Interpretation

Trenching over the Ronguen gold prospect was conducted in part to better understand the geology and the geometry of the host sequence as well as to test the lateral continuity and structure of the gold mineralization. Previous field work at Ronguen had indicated that the main artisanal mining site is located on the structural footwall of a "fold-and-thrust-belt" composed of complexly folded and faulted metasediments and mafic intrusive rocks. Recent structural mapping of the trenches at 1:100 scale confirmed that the Ronguen Gold Zone is also part of this "fold-and-thrust-belt".

Host Rocks

The Ronguen gold prospect is hosted by an elongate unit of metasedimentary rocks with subordinate mainly mafic intrusive rocks, all metamorphosed to lower greenschist facies. The metasedimentary succession dominates the area and is mostly composed of fine grained siltstone-mudstone with minor accumulation of polymictic conglomerate and sandstone. Intrusive rocks are composed of narrow dikes and sills of leucoxene bearing gabbro and rare quartz diorite.

Structural examination of the trenches has determined the following:

1. The Ronguen gold-prospect is spatially associated with a major zone of brittle-ductile deformation including two major conjugate sets of low-angle thrust faults and minor zones of high-angle reverse faulting. The principal set of thrust faults is NW-verging; its conjugate SE-verging counterpart and steep reverse structures are less penetrative.

2. All these zones of displacement are gold-bearing and mineralization is associated with fault-fill veins and flat extension veins of quartz.

3. The plunge of the entire gold-prospect is still unknown. However it is possible that important oreshoots plunge moderately SW subparallel to F2 fold axes.

Quality Assurance and Quality Control

Goldrush follows a strict sampling and QA-QC protocol. Details of this program for diamond drilling are provided in the Goldrush news release dated January 15, 2007. The results of the trenching and drilling program have been reviewed, verified (including sampling, analytical and test data) and compiled by the Company's geological staff. Current assays were provided by an ISO9001 accredited assay laboratory, SGS Laboratories in Ouagadougou, Burkina Faso.

In preparation for the independent resource calculation, all trenches and diamond core hole locations were surveyed. Stored pulps from various drill campaigns have been split and sent to two accredited assay labs for check assay work.

Exhibition at Vancouver Resource Investment Conference

Goldrush Resources Ltd. will be exhibiting at the Cambridge House Vancouver Resource Investment Conference, January 20-21, 2008 at the Vancouver Convention and Exhibition Centre. Shareholders are invited to attend the Company's booth (#1301) to meet with management and to discuss 2007 exploration results and the Company's very ambitious 2008 exploration plan.

Mr. Driffield Cameron, P. Geo., Director of Goldrush, is the Qualified Person for this press release for the purposes of National Instrument 43-101 and has reviewed the information herein.

About Goldrush: Goldrush is a mineral exploration company focused on gold exploration in Burkina Faso, West Africa with an established organization of people and projects to enable aggressive growth. Through a strategic partnership with High River Gold Mines Ltd. Goldrush has the ability to access High River's processing facilities and infrastructure without incurring all the capital costs associated with developing a stand-alone operation, thereby enhancing the economics of gold deposits within trucking distance of the processing facility.

For further information on Goldrush Resources Ltd., shareholders and other interested parties are invited to visit the Company's website at www.goldrushresources.ca.

ON BEHALF OF THE BOARD OF DIRECTORS, GOLDRUSH RESOURCES LTD.

Len Brownlie - President

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

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

Contact Information

  • Goldrush Resources Ltd.
    Don Willoughby
    Vice-President Corporate Development
    (416) 607-7347
    or
    Goldrush Resources Ltd.
    Len Brownlie
    President
    (604) 602-9973
    (604) 681-5910 (FAX)
    or
    Goldrush Resources Ltd.
    Investor Relations
    Email: info@goldrushresources.ca
    Website: www.goldrushresources.ca