August 10, 2016 09:00 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 10, 2016) - Goldrea Resources Corp. (CSE:GOR)(FRANKFURT:GOJ)(OTC PINK:GORAF) has completed a review of historic technical data for the Cannonball project and mobilized a field crew to northwestern BC.
As described in the Company's press release dated May 25 the Cannonball Project comprises 1,490 hectares of prospective ground located approximately 15 kilometers northeast of the former Snip Mine in the Iskut River District of north west British Columbia. Ministry of Mines records document several sampling programs within the current claim area during the late 1980's that identified several zones of structurally controlled gold mineralization (including a select sample that assayed 156 g/t gold - reference ARIS report no. 18546) which have never been drill tested. The reader is cautioned that the Company has not verified the historic sampling information and it should not be relied upon. The objectives of the upcoming field program are to verify the historic information referenced in the Ministry of Mines database.
The Company views this as being one of the premier regions in the world for hosting high-grade gold discoveries like the past producing Eskay Creek and Snip Mines and the Brucejack Mine currently under construction by Pretium. Notably, Colorado Resources (CSE:CXO) just announced results of 11 m of 6.12 g/t Au at their KSP property in this same proximity. This drilling had just started in June of this year.
In addition to the high grade gold discoveries this district also hosts world class porphyry copper gold deposits including Imperial Metals Red Chris mine, Seabridge Golds KSM Project, Teck - Novalgolds Galore Creek project and Teck - Copper Fox' Resources Schaft Creek project.
The Company will announce results of the program as they become available.
GOLDREA RESOURCES CORP.
James Elbert, President and CEO
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
Goldrea Resources Corp.James ElbertPresident and CEO(604) firstname.lastname@example.org
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