Golden Reign Resources Ltd.
TSX VENTURE : GRR

Golden Reign Resources Ltd.

September 11, 2013 09:30 ET

Golden Reign Drills 21.3 Metres Grading 7.20 g/t Gold and 14.2 g/t Silver, Including 5.0 Metres of 28.45 g/t Gold and 53.7 g/t Silver

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 11, 2013) - Golden Reign Resources Ltd. (TSX VENTURE:GRR) (the "Company" or "Golden Reign") is pleased to announce drill results from the Intermediate Area in the Southern District of its San Albino-Murra Gold Property (the "Property"), located in Nueva Segovia, Nicaragua.

Drilling initiated in July 2013 targeted potentially open-pittable resources by testing the down-dip extension of near-surface, high-grade mineralization intersected initially by trenching (see attached map).

Highlights from diamond drilling include:

  • INT13-01 2.5 metres averaging 15.69 g/t gold and 15.5 g/t silver
  • INT13-02 3.0 metres averaging 3.39 g/t gold and 10.3 g/t silver
  • INT13-03 21.3 metres averaging 7.20 g/t gold and 14.2 g/t silver
    including 5.0 metres averaging 28.45 g/t gold and 53.7 g/t silver

The true-width mineralized intersections are within approximately 55 metres vertical depth from surface. A detailed table of results is attached.

The Intermediate Area is one of four near-surface, high-grade mineralized zones outlined by trenching. Situated 1.5 kilometres south of the Company's San Albino Gold Deposit, it has a current strike length of approximately 1.0 kilometre, remaining open along strike in both directions and down-dip. A comprehensive trenching program consisting of 13 trenches across 417 metres was completed in 2011. Highly-mineralized intercepts, as previously reported, in trenches INT11-TR-01 through INT11-TR-04 were targeted for drilling in 2013.

Highlights from trenching include:

  • INT11-TR-01 8.2 metres averaging 20.64 g/t gold and 26.87 g/t silver
    including 5.2 metres averaging 28.69 g/t gold and 38.8 g/t silver
  • INT11-TR-02 8.0 metres averaging 4.37 g/t gold, minor silver
    including 3.0 metres averaging 8.83 g/t gold, minor silver
    and 5.0 metres averaging 9.44 g/t gold and 9.9 g/t silver
    and 1.0 metre averaging 32.87 g/t gold and 51.5 g/t silver
  • INT11-TR-03 12.8 metres averaging 16.05 g/t gold and 9.9 g/t silver
    including 3.0 metres averaging 40.97 g/t gold and 23.7 g/t silver
    and 1.8 metres averaging 42.33 g/t gold and 15.9 g/t silver

  • INT11-TR-04 1.0 metre averaging 4.52 g/t gold, minor silver
    and 2.0 metres averaging 3.11 g/t gold and 9.1 g/t silver

Other highlights from trenching completed in country rock:

  • INT11-TR-01 2.0 metres averaging 26.89 g/t gold and 35.7 g/t silver
    and 2.0 metres averaging 9.76 g/t gold and 8.95 g/t silver

  • INT11-TR-02 9.0 metres averaging 4.16 g/t gold and 4.4 g /t silver
  • INT11-TR-03 4.0 metres averaging 2.70 g/t gold and 1.5 g/t silver
    and 2.0 metres averaging 10.76 g/t gold and 12.5 g/t silver
    vertical samples returned gold values in a range from 1.02 to 3.15 g/t gold
  • INT11-TR-04 1.0 metre averaging 4.52 g/t gold and 0.9 g/t silver

Qualified Person

John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release.

On behalf of the Board,

Kim Evans, CGA, President & CEO

About Golden Reign:

Golden Reign Resources Ltd. is a publicly listed (TSX VENTURE:GRR) mineral exploration company engaged in exploring the San Albino-Murra Property and the El Jicaro Property, both of which are located in Nueva Segovia, Nicaragua.

The Company's land package comprises 13,771 hectares (138 km2) of highly prospective ground. Hundreds of historical mines and workings exist within the Corona de Oro Gold Belt, which is approximately 3 kilometres wide by 20 kilometres long and spans the entirety of the Company's land package.

For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com.

Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available.

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.

To view the map associated with this release, please visit the following link: http://media3.marketwire.com/docs/897395I.jpg

DRILL RESULTS - INTERMEDIATE AREA, SOUTHERN DISTRICT

Drill hole#

Sample #
From
(m)
To
(m)
Width
(m)
Au
(g/t)
Ag
(g/t)
Drill hole INT13-01 (130/90), a vertical hole, intersected two mineralized zones. The first was 0.6 metres of low grade material. The second zone, from 51.9 to 54.4 metres, returned 2.5 metres of 15.69 g/t gold and 15.5 g/t silver.
INT13-01 138264 41.40 42.00 0.60 0.85 0.3
INT13-01 138278 51.90 53.60 1.70 22.94 22.3
INT13-01 138279 53.60 54.40 0.80 0.28 0.9
Drill hole INT13-02 (130/60) intersected a mineralized interval of 3.0 metres grading 3.39 g/t gold and 10.3 g/t silver.
INT13-02 138358 52.50 53.00 0.50 1.42 6.3
INT13-02 138359 53.00 53.50 0.50 0.49 3.9
INT13-02 138361 53.50 54.00 0.50 0.81 8.7
INT13-02 138362 54.00 54.50 0.50 0.05 0.5
INT13-02 138363 54.50 55.00 0.50 1.36 2.8
INT13-02 138364 55.00 55.50 0.50 16.23 39.3
Drill hole INT13-03 (130/90), a vertical hole, intersected mineralization spread over a 21.3 metre wide interval grading 7.20 g/t gold and 14.2 g/t silver. Two voids, from 29.4 to 30.4 metres and 31.8 to 33.3 metres, result from historical workings. If the two voids are not omitted the mineralized zone is 18.8 metres of 8.15 g/t gold and 16.1 g/t silver. The hanging wall and footwall of the historical workings returned 3.0 metres of 2.33 g/t gold and 6.2 g/t silver and 2.0 metres of 1.78 g/t gold and 4.2 g/t silver, respectively. A third, strongly mineralized interval of 5.0 metres returned 28.45 g/t gold and 53.7 g/t silver.
INT13-03 138398 24.00 25.50 1.50 2.18 5.9
INT13-03 138399 25.50 27.00 1.50 2.48 6.4
INT13-03 138401 27.00 28.50 1.50 0.02 1.3
INT13-03 138402 28.50 29.40 0.90 0.03 1.4
INT13-03 Void 29.40 30.40 1.00 Historical workings
INT13-03 138403 30.40 30.90 0.50 0.03 0.4
INT13-03 138404 30.90 31.80 0.90 0.12 1.2
INT13-03 Void 31.80 33.30 1.50 Historical workings
INT13-03 138406 33.30 34.30 1.00 1.87 2.4
INT13-03 138407 34.30 35.30 1.00 1.69 5.9
INT13-03 138408 35.30 36.30 1.00 0.03 0.5
INT13-03 138409 36.30 37.30 1.00 0.02 0.4
INT13-03 138411 37.30 38.30 1.00 0.02 0.3
INT13-03 138412 38.30 39.30 1.00 0.24 0.8
INT13-03 138413 39.30 40.30 1.00 0.04 0.4
INT13-03 138414 40.30 41.30 1.00 16.43 42.9
INT13-03 138415 31.30 42.30 1.00 0.16 2.0
INT13-03 138416 42.30 43.30 1.00 68.67 123.0
INT13-03 138417 43.30 44.30 1.00 56.39 93.6
INT13-03 138418 44.30 45.30 1.00 0.58 6.9
Drill hole INT13-04 (130/60) intersected historical workings at 25.5 metres and 27.7 metres, believed to be the Crucita Mine. A small interval of 0.9 metres grading 1.13 g/t gold and 1.9 g/t silver was recorded. In the footwall of the old workings a 0.7 metre interval returned 0.52 g/t gold and 1.7 g/t silver. Two additional mineralized intervals were intersected: 1.1 metres of 1.70 g/t gold and 2.6 g/t silver; and, 1.1 metres of 1.03 g/t gold and 13.7 g/t silver.
INT13-04 Void 25.50 26.80 1.30 Historical workings
INT13-04 150034 26.80 27.70 0.90 1.13 1.9
INT13-04 Void 27.70 28.30 0.60 Historical workings
INT13-04 150035 28.30 29.00 0.70 0.52 1.7
INT13-04 150093 92.50 93.60 1.10 1.70 2.6
INT13-04 150147 146.10 147.20 1.10 1.03 13.7
INT13-04 150204 193.50 194.50 1.00 0.74 4.3

Contact Information

  • Golden Reign Resources Ltd.
    Kim Evans, CGA
    President & CEO
    (604) 685-4655 or Toll Free: 1-888-685-4655
    (604) 685-4675 (FAX)
    www.goldenreign.com