Gold Reach Resources Ltd.
TSX VENTURE : GRV

Gold Reach Resources Ltd.

July 18, 2011 09:30 ET

Gold Reach Updates Its Summer Programs on the Two 100% Owned Properties: Auro (Adjacent to New Gold) and Ootsa (Adjacent to the Producing Huckleberry Copper Mine)

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2011) - Gold Reach Resources (TSX VENTURE:GRV) -

Mr. Conrad Swanson reports:

The initial phase one 3,009 meter drill program at Auro is complete. Six individual target areas within a 5km by 5km radius were permitted for drilling and a total of 11 holes were drilled (two were lost). Based on alteration identified in the drill core, select intervals have been split and sent to the lab with gold to be analyzed by standard fire assay techniques and an additional 52 elements by induced coupled plasma (ICP). Assay results are expected in 4 to 6 weeks. The company plans to conduct a second drill program at Auro once the results from the first program have been received and compiled. To date less than 10% of the property has been systematically explored.

Gold Reach's second 100% owned property Ootsa has had a total of 80 holes drilled at two locations, Ox and Seel since 2004. Two 43-101 compliant resource estimates (Seel- Porphyry Cu-Au and Ox-Cu-Mo) and one historical non-43-101 compliant resource estimate (Damascus-Ag -Pb-Zn) are available. The Seel area host 3 styles of mineralization, Cu-Au mineralization associated with magnetic highs, Cu-Mo mineralization associated with magnetic lows and a late high grade breccia pipe. A 5,500 meter drill program is currently underway and is designed to test the copper gold zone and the breccia at depths up to 800m. The drill program will also focus on increasing the drill density at the breccia zone so it can be included in an updated resource estimate. Previous drilling into the Seel Breccia has returned high grade intercepts such as 80 meters grading 1.01% copper, 25 grams per tonne (g/t) silver, 2.7% zinc (Hole 06-42) and 27.5 meters grading 1.27% copper and 40 g/t silver. The Seel Breccia remains open to the south and at depth and is located less than 100 meters from our copper gold resource (see web page for maps etc).

In addition, 44.5 km of line cutting and 3-DIP geophysics is complete at Ootsa. This additional 3DIP ties together the Ox and Seel grids (previously done) along known structural trends controlling mineralizing intrusives. Along these structural trends are coincident radiometric and magnetic anomalies which will be further defined by this 3DIP, for drill targets. Recent logging in the area has exposed new outcrops which are being mapped and sampled. Ground crews are conducting surface evaluations and sampling of some of our newly identified 18 magnetic high targets and 42 magnetic low targets and prioritizing these targets for future drill testing.

Gary Giroux engineering of Vancouver has been engaged to define a new 43-101 resource at Seel when this drilling is complete.

The two current 43-101 compliant resource estimate has identified 297,000 ounces of gold, 250,000,000 pounds of copper, and 3,600,000 ounces of silver and 34,000,000 pounds of molybdenum. Metallurgical testing in 2007 showed recoveries of all of the above metals at 90% or better and no detectable levels of arsenic or antimony.

Dr. Shane Ebert a person qualified under NI 43-101 has approved this news release.

ON BEHALF OF THE BOARD OF DIRECTORS

Conrad Swanson, President

Safe Harbour Statement: The Company relies upon litigation protection for "forward-looking statements".The Company undertakes no obligation to update these forward-looking statements in the managements beliefs, estimates obligations or other factors should change.

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

Contact Information

  • Gold Reach Resources
    Conrad Swanson
    President
    604-718-5454 or Toll Free: 888-500-4587

    Investor Relations:
    Advanture Capital Partners
    604-563-5028