Goldrush Resources Ltd.
TSX VENTURE : GOD
OTCQX : GDRRF

Goldrush Resources Ltd.

July 07, 2011 07:00 ET

Goldrush Announces New Gold Discovery in Southeastern Burkina Faso

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2011) - Goldrush Resources Ltd. (TSX VENTURE:GOD)(OTCQX:GDRRF) ("Goldrush" or the "Company"), President & CEO, Len Brownlie, Ph.D, is pleased to report assay results from 67 reverse circulation ("RC") drill holes on five of the Company's exploration permits in Burkina Faso, West Africa. The most promising results came from the adjacent Gonaba-Est [80 km2] and Nakiambouri [225 km2] permits located in southeastern Burkina Faso, approximately 55 kilometers south of the town of Fada N'Gourma. The Gonaba Est permit is contiguous with the north boundary of the Mt. Isa Metals Limited Yactibo Project that hosts a new gold discovery approximately 25 kilometres to the south, and from airborne geophysics appears to host similar structures, and be underlain by similar lithologies.

Drilling highlights include:

  • 11.35 g/t Au over 1 metre centered at a vertical depth of 25 metres in hole GEKR11-004 located on the Konkofoni (Hong Kong) target of the Gonabe Est permit
  • 2.18 g/t Au over 6 metres, in hole GEKR11-012 centered at a vertical depth of 53.2 metres located on the same target as hole GEKR11-004 and interpreted to indicate that the gold zone is widening at depth
  • 5.05 g/t Au over 2 metres in hole GEKR11-003 at a vertical depth of 26.2 metres located on the Konkofoni SW target of the Gonaba Est permit
  • 11 of 15 holes drilled within an area of 516 metres by 440 metres on the Nakiambouri permit encountered at least 1 metre of shallow gold mineralization that exceeded 0.5 g/t Au, to a maximum of 4.16 g/t Au, to a maximum vertical depth of 73.3 metres

The Gonaba Est and Nakiambouri RC drilling program assay results have confirmed the discovery of gold mineralization coincident with chargeability highs from induced polarization surveying, artisanal workings and elevated rock sample gold assays. At Nakiambouri, 25% (404/1646) of all assay results returned anomalous gold (>0.1 g/t Au). Holes NKR11-001 and NKR11-017 (collared 30 metres behind NKR11-001) returned 43% and 50% anomalous gold assays respectively, suggesting that the gold mineralized envelope is quite wide in this area. Information derived from the RC drilling is critical to the identification of geological structures and mineralized areas that represent high priority targets for future RC and core drilling programs.

RC drilling on the Kilou target (Tikare permit) intersected 1.47 g/t Au over 5 metres and 2.84 g/t Au over 4 metres in hole TKKR11-010. The Kilou target is located approximately 12 kilometres northwest of the western grid of Goldrush's 249,000 ounce Ronguen gold deposit (5.9 million tonnes at a grade of 1.31 grams per tonne (g/t) gold).

With the exception of the Kilou target that had received seven RC holes in 2007, none of the targets drilled in the current program had previously been tested with an RC drill, and the Liki, Gonaba Est and Nakiambouri permits had no prior drilling conducted on them.

Assay Results

Significant intersections are noted above and in the following table:

Hole ID


Target
UTM
(X)
WGS84
(Y)



Inclination
From
(m)
To
(m)
Intersection
(m)
Gold
Grade

(g Au/t)
Vertical
depth
(m)
1
Gonaba Est Permit
GEKR11-003 Konkofoni SW 221323 1276456 -55 31 33 2 5.05 26.2
and 42 43 1 0.7 34.8
GEKR11-004 Konkofoni
(Hong Kong)
223231 1276814
-55
30 31 1 11.35 25.0
and 106 107 1 0.5 87.2
GEKR11-011 Konkofoni
(Hong Kong)
221333 1276432
-55
13 14 1 1.71 11.1
GEKR11-012 Konkofoni
(Hong Kong)
223219 1276842
-55
62 68 6 2.18 53.2
GEPKR11-002 PK-60 NE 229294 1280489 -55 47 48 1 0.64 38.9
and 58 59 1 0.67 47.9
and 64 65 1 1.55 52.8
GEPKR11-003 PK-60 NE 229620 1280746 -55 40 41 1 1.24 33.2
and 50 51 1 0.74 41.4
GEPKR11-007 PK-60 223696 1277077 -55 39 41 2 1.62 32.8
Nakiambouri Permit
NKR11-001 - 212359 1291853 -55 14 15 1 0.62 11.9
and 25 26 1 1.05 20.9
and 89 90 1 0.95 73.3
NKR11-002
-
212424 1291854
-55
28 31 3 0.63 24.2
and 35 37 2 0.54 29.5
NKR11-003 - 212395 1291986 -55 57 64 7 0.67 49.6
NKR11-005 - 212635 1292000 -55 67 68 1 1.01 55.3
NKR11-008 - 212115 1292112 -55 55 56 1 0.73 45.5
and 73 74 1 4.16 60.2
NKR11-010 - 212341 1292320 -55 52 56 4 0.92 44.2
NKR11-011 - 212587 1292209 -55 51 52 1 0.59 42.2
NKR11-012 - 212638 1292295 -55 48 49 1 1.06 39.7
and 59 63 4 0.66 50.0
and 76 77 1 3.99 62.7
NKR11-015 - 212592 1292200 -55 4 5 1 0.58 3.7
and 58 60 2 0.90 48.3
and 72 73 1 0.76 59.4
and 83 86 3 0.71 69.2
and 89 90 1 0.51 73.3
NKR11-016 - 212711 1292078 -55 31 32 1 0.65 25.8
NKR11-017 - 212338 1291880 -55 3 5 2 1.12 3.3
and 63 64 1 0.5 52.0
and 84 85 1 2.41 69.2
Tikare
Permit
TKKR11-010 Kilou 642995 1471495 -55 5 10 5 1.47 6.0
and 40 44 4 2.84 34.4
TKKR11-011 Kilou 643012 1471515 -60 52 55 3 0.92 46.3
TKRR11-013 Kilou 640988 1470680 -55 47 48 1 0.84 38.9
Liki Permit
LKR11-001 - 740993 1559236 -55 42 45 3 0.68 35.6
LKR11-003 - 740939 1559154 -55 71 72 1 1.01 58.6
LKR11-012 - 738900 1557285 -55 18 20 2 0.7 15.6
and 48 49 1 0.75 39.7
LKR11-013 - 738781 1564318 -55 38 39 1 0.63 31.5
Kongoussi 1
Permit
KGPR11-136 Pouni 663036 1474445 -55 62 63 1 0.5 51.2
KGPR11-137 Pouni 663072 1474517 -55 94 95 1 0.74 77.4
1 "Vertical depth" is the calculated depth to the centre of the intersection.
2 True widths are estimated to be 90 to 95% of sample intervals.
3 Assays from holes KGPR011-138 to 142 drilled on the Kongoussi 1 permit Pouni target; holes LKR11-002 and -004 to -011 drilled on the Liki permit; holes TKKR11-008 to -009 and -012 and -014 to -019 on the Tikare permit; holes NKR11-013 to -14 drilled on the Nakiambouri permit and holes GEKR11-001 to -002 and -005 to -010 drilled on the Konkofoni (Hong Kong) target and holes GEPKR11-001 and -004 to -006 drilled on the PK-60 target of the Gonaba Est permit were either barren or only weakly anomalous. Holes NKR011-004, -006, -007, -009 drilled on the Nakiambouri permit did not intersect any gold mineralization at or above a cut-off of 0.5 g/t Au.

Drill hole lengths varied from 54 to 150 metres. A total of 6,191 metres was drilled in the 67 RC holes and continuously sampled at one metre intervals for assaying.

Future Exploration

To follow-up on the recent promising drilling results from the Ronguen gold deposit and Gonaba-Est, Nakiambouri and Tikare permits, the Company has entered into contracts with Forages Technic-Eau/Burkina Sarl and Projet Production International BF Sarl), respectively to secure drills for 10,000 metres of RC and 8,000 metres of core once the seasonal rains have abated, likely by late August. In the interim, Company personnel and contractors are conducting programs of mapping, gridding, soil sampling and ground-based induced polarization geophysical surveys on the Company's permits in order to refine potential drill hole locations.

Quality Assurance/Quality Control

Goldrush maintains a rigorous quality control program involving the use of certified standards from an accredited Canadian laboratory, inserted blanks, and the use of repeat assays. Details of Goldrush's quality control program were provided in the Company's News Release #2010-13, dated October 25, 2010.

The ALS Chemex laboratory and the SGS Burkina Faso SA laboratory, both located in Ouagadougou, Burkina Faso were used for sample analysis. For their internal control, ALS Chemex inserted two certified standards and one blank, and analyzed one random duplicate for approximately each 25 samples submitted. The SGS lab protocol is to insert six control samples per 50 sample batch. The control samples consist of two standards, two blanks (one preparation blank and one analytical blank), one replicate and one duplicate. For its certified standard and blank samples included in the QA-QC procedure, Goldrush averaged 11.0% of the total samples submitted.

The drilling was contracted to West African Drilling Services Pty Ltd. based in Ouagadougou, Burkina Faso.

Mr. Driffield Cameron, P. Geo., Director of Goldrush, is the Qualified Person for this press release for the purposes of National Instrument 43-101 and has reviewed the technical information herein.

For further information on Goldrush Resources Ltd., shareholders and other interested parties are invited to visit the Company's website at www.goldrushresources.ca.

ON BEHALF OF THE BOARD OF DIRECTORS,
GOLDRUSH RESOURCES LTD.
"Len Brownlie"
Len Brownlie – President and Chief Executive Officer

About Goldrush: Goldrush is a Canadian mineral exploration company which has successfully focused on gold exploration in West Africa for five years, having discovered the Ronguen gold deposit in Burkina Faso, where exploration is on-going.

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

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

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