Currie Rose Resources Inc.
TSX VENTURE : CUI

Currie Rose Resources Inc.

November 17, 2010 13:13 ET

Currie Rose Reaches Halfway Mark in Phase 1 Drilling at Sisu River Gold Property Exploration Plans Outlined for Sekenke Gold Project

ST. CATHARINES, ONTARIO--(Marketwire - Nov. 17, 2010) - Currie Rose Resources Inc. (TSX VENTURE:CUI) -

Mr. Harold Smith reports:

Currie Rose Resources (TSX VENTURE:CUI) is pleased to provide a progress report on the Company's exploration activities in the prolific Lake Victoria Greenstone Belt of northwest Tanzania. Currie Rose has been active in this area since 2005 and will be aggressively exploring its Mabale Hills and Sekenke Gold Projects over the coming months. Numerous priority targets have been identified that Company geologists believe offer the potential of major exploration upside.

Mabale Hills Gold Project:

At Mabale Hills, a project that covers 260 square kilometers, Currie Rose has completed a total of 14 reverse circulation (RC) holes for 1,447 metres of a planned 3,000 metre drill program at the Sisu River Gold Property, 8 km northeast of the Company's Mwamazengo discovery.

The Sisu River target is hosted within felsic volcanic rocks and was identified by rock chip and pit sampling that returned impressive grades as outlined by Currie Rose in its October 21, 2010, news release. Drilling is focused on an area measuring 150 m x 30 m that has been extensively prospected near-surface by artisanal miners. Drilling is testing the extent of gold mineralization discovered at Sisu River to depths of approximately 100 to 125 metres. Good source rocks have been intersected beneath the "mbuga" clays and assays from initial holes are pending.

Currie Rose geologists are very encouraged by the prospects for Mwamazengo and are planning a follow-up drill program at that property. The Dhahabu Prospect, eight kilometers north of Mwamazengo, is another area of major interest. The Company will also be searching for additional targets at Mabale Hills as only a small portion of this large land package has been systematically explored.

Sekenke Gold Project:

The Sekenke Project, approximately 200 kilometres from Mabale Hills at the southeastern end of the Lake Victoria Greenstone Belt, is strategically located and under-explored. The nearly 300 square kilometre land package surrounds the former Sekenke and Kirondatal mines, significant producers during the first half of the 1900's. Recent exploration by Currie Rose has identified a highly prospective structure (12 km x 800 m) within a shear zone on the margins of a large granite intrusion that hosts numerous vertical quartz reefs of the same type that developed at the nearby former mines.

The Company's immediate plans are to acquire high resolution satellite imagery of the Sekenke Project, accompanied by a geological and alteration study, in advance of ground based IP/resistivity geophysics to further define the identified structure in preparation for drill testing in the spring. In addition, other geophysical methods such as airborne radiometrics and magnetic surveys are also under consideration.

Currie Rose, which has an option to earn up to a 70% interest in the Sekenke Project, believes this project offers excellent potential and could quickly progress from the advanced grass-roots stage of exploration to a significant discovery based on the following:

  1. Proximity to former colonial mines - Currie Rose's land package runs in between and surrounds two past producing high grade mines;
  1. Favorable geology - the Sekenke Project has a similar geological signature to the former Sekenke and Kirondatal mines;
  1. Identified target - the potential of the identified quartz reefs in the shear zone (extending from the former Sekenke mine) to host high grade gold is indicated by the encouraging assays returned for rock chip samples and also by the fact that highly anomalous gold grades were obtained from streams that drain the target structure. The coarse grained gold that is currently panned from the streams by artisanal miners is assumed to have been derived from the nearby shear zone (probably from the quartz reefs hosted within it).

"We're extremely excited with the opportunities we have in front of us with our projects in the mining-friendly jurisdiction of Tanzania," stated Harold Smith, Currie Rose President and CEO. "We have a strong team on the ground there who know the country extremely well. We intend to take full advantage of this positive environment for gold and advance our Tanzanian projects with more vigor than ever going forward and throughout 2011."

BY ORDER OF THE BOARD OF DIRECTORS OF CURRIE ROSE RESOURCES INC.

Harold Smith, President

The Qualified person for the release of this exploration information is Michael Griffiths MAusIMM, Director of Currie Rose Resources Inc.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Currie Rose Resources Inc.
    Harold Smith
    President
    (905) 688-9115