Goldrea Resources Corp.
CSE : GOR
PINKSHEETS : GORAF
FRANKFURT : GOJ

Goldrea Resources Corp.

September 15, 2016 08:30 ET

Goldrea Resources Completes Sampling Program at Gaspe Lithium Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 15, 2016) - Goldrea Resources Corp. ("Goldrea" or the "Company") (CSE:GOR)(FRANKFURT:GOJ)(OTC PINK:GORAF) announces that has completed a reconnaissance sampling and mapping program at its 100%-owned Gaspé Lithium property near the town of Gaspé, Quebec.

Outcrop and stream sediment samples have been submitted to Activation Laboratories in Timmins, Ontario. Results from the program will be released along with a detailed geological interpretation.

"The results from this survey will provide our team with a better understanding of the extent of mineralization on our Gaspé Lithium property. Based on this knowledge, Goldrea can determine calculated steps to enhancing this promising property," states Jim Elbert, CEO.

The Gaspé Lithium Project is located approximately 75 kilometres northwest of the City of Gaspé, Quebec, in NTS map sheet 22H03 and covers historically reported elevated lithium values obtained from stream sediment samples. The property is readily accessible, lying approximately 3 kilometres from Quebec Route 198. The area is underlain by Cambrian to Lower Ordovician metasedimentary rocks of the Rivière-Ouelle and Trois-Pistoles Formations. Lithological units are mudrock, sandstone, conglomerates, and limestones.

The highest recorded historical stream sediment sample from the Gaspe Lithium property returned a value of 159 ppm Li (1). For reference, the SIGEOM sediment sample database contains only five samples that exceed 150 ppm for the entire province of Quebec. Additionally, the highest assaying lake sediment sample near Nemaska Lithium's (NMX.V) proposed Whabouchi lithium open-pit resource returned a maximum of 10.9 ppm Li (2).

In addition to the 159 ppm sample taken from the property, another three stream sediment samples within the property boundaries include, using the first sample as a reference point for location: 105 ppm Li located 200 metres to the west (3), 24 ppm Li located 400 metres to the west (4), and 26 ppm Li located 700 metres to the north (5).

The technical contents of this release were approved by Mr. Case Lewis, P.Geo., an independent consultant to the company and a Qualified Person as defined by National Instrument 43-101. The property has not yet been the subject of a National Instrument 43-101 report.

References

  1. SIGEOM sample 1992011379 - stream sediment / heavy mineral sample.
  2. SIGEOM sample 1957012628 - lake sediment sample.
  3. SIGEOM sample 1992012530 - stream sediment / heavy mineral sample.
  4. SIGEOM sample 1992012528 - stream sediment / heavy mineral sample.
  5. SIGEOM sample 1992012531 - stream sediment / heavy mineral sample..
  6. "A preliminary deposit model for lithium-cesium-tantalum (LCT) pegmatites", USGS Open File Report 2013-1008.
  7. SIGEOM sample 1992012536 - stream sediment / heavy mineral sample.

Incentive Stock Options

The Company also announces the issuance of 1.5 million incentive stock options to its directors, officers and consultants buy Goldrea shares at $0.10 per share over a period of five years. These options will be used as incentive for the further advancement of the Company.

Forward-Looking Statements

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.

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