Goldrush Resources Ltd.
TSX VENTURE : GOD

Goldrush Resources Ltd.

April 18, 2011 07:00 ET

Goldrush Intersects 1.82 g/t Gold Over 37 Metres, Including 2.95 g/t Au Over 16 Metres in Step-Out Drilling at Ronguen Gold Deposit, Burkina Faso

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 18, 2011) - Goldrush Resources Ltd. (TSX VENTURE:GOD) ("Goldrush" or the "Company") President & CEO Len Brownlie, Ph.D is pleased to report assay results from the first 15 holes of a Reverse Circulation ("RC") drilling program on the Company's Ronguen Gold Deposit (249,000 ounce inferred resource of 5.9 million tonnes at a grade of 1.31 g/t Au) in Burkina Faso, West Africa. The highlights of the drilling results are RC holes KGRR011-116 and 117 that were drilled on the new North Zone:

  • 1.82 g/t Au over 37 metres, including 2.95 g/t Au over 16 metres in hole KGRR011-116 centered at a vertical depth of 20.5 metres
  • 1.87 g/t Au over 13 metres in hole KGRR011-117 centered at a vertical depth of 22.5 metres

In hole KGRR011-116, visible gold was observed from 8 to 9, 22 to 23 and 102 to 103 metres down-hole. Gold grades in the mineralized interval ranged from 0.14 g/t to 6.06 g/t Au. In hole -117, drilled 55 metres north of hole 116 on the same section, visible gold was observed from 18 to 20 and 23 to 28 metres down-hole. Gold grades in the mineralized interval ranged from 0.11 g/t to 4.71 g/t Au.

Hole KGRR011-116 is located on the G1 grid, the eastern of two overlapping grids, on section 1100E, 25 metres north of the northern limit of the Main Zone gridding. This hole was collared approximately 130 metres northeast of hole KGRR010-096 that was drilled on section 970E and that intersected 7.63 g/t gold over 15 metres at a depth of 12.7 metres, and 3.17 g/t gold over 22 metres at a depth of 31.1 metres (Goldrush news release #13-2010, October 25, 2010).

Assays results received from thirteen additional RC holes on the G1 grid returned the following significant composites:

  • 1.59 g/t Au over 17 metres in hole KGRR011-121
  • 2.91 g/t Au over 3 metres in hole KGRR011-112
  • 1.03 g/t Au over 8 metres in hole KGRR011-109
  • 1.73 g/t Au over 4 metres in hole KGRR011-110

The assay results from RC holes 108 - 114, 116 - 119 and 121 have confirmed the presence of gold mineralization in areas of the new North Zone that had little prior drilling. The density of drill holes in this area is designed to define and to enable the North Zone gold mineralization to be easily incorporated into an upgraded 2011 Ronguen resource estimate. A surface plan showing the drill hole locations is available at www.goldrushresources.ca.

Assay Results

Significant intersections are noted above and in the following table:

Hole IDLine
(Grid
Co-ord)
Station
(Grid
Co-ord)
GridFrom
(m)
To
(m)
Intersection
(m)
Gold
Grade
(g Au/t)
Vertical
depth
(m)
1
KGRR011-1081380-95G17810.57.5
KGRR011-1091260-60G1454610.9745.5
and495781.0353
and636521.1264
KGRR011-1101260-120G13410.653.5
and131850.9115.5
and242841.7326
and303110.71VG30.5
and555610.5555.5
and717210.53VG71.5
and11811910.57118.5
KGRR011-11112600G1141620.5715
and222311.0622.5
KGRR011-1121180-80G1561.655.5
and91232.9110.5
and202330.7621.5
and262820.6127
KGR011-1131339-80G15610.535.5
KGR011-11411800G1111430.9912.5
and5720.586
and343730.8735.5
and414210.5741.5
KGR011-116110025G1239371.8220.5
including1531162.9523
and565930.6357.5
and858615.3985.5
and959610.8495.5
and10210420.77VG103
and10710810.83107.5
and11511830.59116.5
KGRR011-117110080G10220.931
and1629131.87VG22.5
KGRR011-118106077.5G12310.522.5
and333522.3234
KGRR011-1191060120G1111210.5111.5
and161710.5312.5
KGRR011-1211015-60G12340171.5931.5
and474810.6347.5
and585915.9058.5

1 "Vertical depth" is the calculated depth to the centre of the intersection.
2 True widths are determined to be 90 to 95% of core intervals.
3 VG: Visible gold identified in the intersection.
4 Holes KGR011-107, -115 and -120 did not intersect any gold mineralization at or above a cut-off of 0.5 g/t gold.

Drill hole lengths varied from 52 to 134 metres, with a common inclination of -45 degrees. A total of 1,416 metres was drilled in fifteen RC holes and continuously sampled at one metre intervals for assaying.

Ronguen Deposit Mineralization

The Ronguen gold deposit is located within the northeastern part of the highly prospective Birimian age Boromo greenstone belt in Burkina Faso. The local geology at Ronguen is dominated by an east northeast ("ENE") trending metasedimentary sequence consisting of interlayered siltstone, mudstone and minor conglomerates that are intruded by plugs, and narrow dykes and sills of gabbroic composition. The Ronguen mineralized zone is located in the structural footwall of a major ENE thrust fault which recorded a tectonic transport direction towards the north. The mineralized deformation corridor represents a major ENE trending high angle reverse fault zone, dipping moderately to steeply towards the south. Gold mineralization is found in both metasedimentary and mafic intrusive rock; there are no obvious lithological controls yet recognized at this epigenetic gold deposit. The gold mineralization is associated with quartz-carbonate veins/veinlets and with sulphides occuring as disseminations, veinlets and patches. Two sets of gold-bearing quartz veins are developed: subvertical shear veins parallel to the shear zone foliation and to the shear zone boundaries, and subhorizontal extension veins. Small quartz stockworks are present and represent a part of the gold mineralization.

Ongoing Exploration

The Company is awaiting reverse circulation drilling assay results from an additional seven holes drilled on the G1 Grid; seven holes drilled on the western G2 grid and 13 holes drilled on other target areas on the two permits that host the Ronguen gold deposit, as part of the Company's ongoing 9,660 metre RC drill program. As of April 14, the RC drill had demobilized from Ronguen and was moving to the new Liki permit, where it will complete an initial 1,000 metre program, to be followed by 3,000 metres at the Company's new and highly prospective Nakiambouri and Gonaba Est permits.

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 in Ouagadougou, Burkina Faso was used for sample analysis. For its internal control, ALS Chemex inserted two certified standards and one blank, and analyzed one random duplicate for approximately each 25 samples submitted. 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, 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 – President and Chief Executive Officer

About Goldrush:Goldrush is a mineral exploration company focused on gold exploration in West Africa.

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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