Goldrush Resources Ltd.
TSX VENTURE : GOD
OTCQX : GDRRF

Goldrush Resources Ltd.

February 09, 2012 06:00 ET

Goldrush Intersects 4.49 g/t Gold Over 17 Metres and 1.64 g/t Gold Over 29 Metres in Fill-In Drilling at Ronguen Gold Deposit, Burkina Faso

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 9, 2012) - Goldrush Resources Ltd. (TSX VENTURE:GOD)(OTCQX:GDRRF) ("Goldrush" or the "Company") is pleased to report assay results from the final 16 reverse circulation ("RC") holes and the first core hole of a 116 hole (98 RC and 18 core) fill-in drilling program on the Company's Ronguen Gold Deposit in Burkina Faso, West Africa. Highlights of the RC and core drilling results include:

  • 4.49 g/t Au over 17 metres, in RC hole KGRR11-235
  • 1.64 g/t Au over 29 metres, in RC hole KGRR11-237
  • 1.73 g/t Au over 18 metres, in RC hole KGRR11-236
  • 1.81 g/t Au over 15.75 metres, 2.04 g/t Au over 7 metres and 2.73 g/t Au over 4.85 metres in core hole KGRC11-042

Core hole KGRC11-042 was drilled on line 780 of the G1 grid, the eastern of two overlapping grids at the Ronguen deposit and was collared approximately 25 metres south of hole KGRR11-228 that intersected 8.77 g/t Au over 23 metres and 1.19 g/t Au over 12 metres and confirmed the down dip extension of at least two zones of mineralization. These results are consistent with the previously drilled sections 40 metres to the east and 40 metres to the west which show the presence of an upper mineralized zone extending to surface at about grid station 115N and a second mineralized zone, underlying the upper zone, that represents a lens that does not extend completely to surface. However, drilling previous to hole -228 and KGRC11-042 intersected grades more typical of the Ronguen mineralization (in the order of 1-2 g Au/t). During interpretation of this area, special attention will be given to the precise location of north northwest trending cross structures which may control higher grades along ore shoots that follow the intersection of the main zone and the cross structures.

RC holes -235 to -237 were drilled on line 140E of the G2 grid, the western of two overlapping grids at the Ronguen deposit and confirm thick widths of the mineralization in this area.

Len Brownlie, President and CEO of Goldrush, noted: "The infill drilling program at Ronguen continues to provide some excellent results which we anticipate will be reflected in the upcoming revised resource estimate. We continue to await assays from the remaining 17 core holes and 1,325 metres of trenching, and also assay results from recently completed drill programs on the Ouavousse, Salbo and Rima permits. 2012 is shaping up to be an exceptional year for Goldrush, in which we plan to advance Ronguen, along with our Pompoi permit, (located adjacent to and on-strike with Roxgold's Yaramoko gold discovery structure) and several of our nine other projects in Burkina Faso."

A surface plan showing the drill hole locations is available at http://goldrushresources.ca/properties/ronguen/.

Assay Results

Significant intersections are noted above and in the following table:

HOLE ID Line Station Grid From To Interval2 Gold Vertical
(Grid
Co-ord)
(Grid
Co-ord)
(m) (m) (m) Grade
(g Au/t)
Depth1
(m)
RC Holes
KGRR11-235 140 -65 G2 66 83 17 4.49 64.5
KGRR11-236 140 -40 G2 46 64 18 1.73 47.6
and 72 74 2 1.3 63.2
KGRR11-237 140 -15 G2 14 15 1 1.47 12.6
and 18 47 29 1.64 28.1
and 58 60 2 0.94 51.1
KGRR11-239 60 -50 G2 37 38 1 1.5 32.5
KGRR11-241 0 -75 G2 81 82 1 1.02 70.6
KGRR11-244 -20 -35 G2 19 22 3 2.04 17.8
and 43 44 1 0.87 37.7
and 48 51 3 1.48 42.9
Core Hole
KGRC11-042 780 35 G2 59.75 75.5 15.75 1.81 58.6
and G2 95 102 7 2.04 85.3
and G2 110.4 115.25 4.85 2.73 97.7

1 "Vertical depth" is the calculated depth to the centre of the intersection.
2 True widths are determined to be 90 to 95% of reported mineralized intervals.

Assays from holes KGRR11-251 and -252 were announced on January 18 and have been excluded from the above table.

Five holes (KGRR11-239, -241, -243, -245 and -246) not included in the above table of significant intersections did contain 1 to 2 metre thick sections of anomalous gold at or above a cut-off grade of 0.5 g/t Au.

Holes -238, -240, -242, -247, -248, -249 and -250 were barren. Holes -245 to -247 were drilled on line -20W, just outside the western limit of the existing G2 (west) grid, where a series of parallel, north easterly trending faults have caused the mineralization to become discontinuous.

Holes -248, -249 and -250 were drilled between 370 and 520 metres west of the western limit of the existing G2 (west) grid and were targeted to intersect extensions of the mineralization encountered in hole KGRR011-135 [see Goldrush news release dated June 9, 2011]. Hole -135 was collared 430 metres to the west of the nearest previous hole drilled on the Ronguen deposit and encountered 2.14 g/t Au over 4 metres at a vertical depth of 13 metres. Hole -135 was collared approximately 40 metres northeast of a previous Rotary Air Blast ("RAB") hole KGRB07-151B, which intersected 7.72 g Au/t over 6 metres. Gold intercepts in the RC hole -135 and RAB hole -151B correlated well with two distinct resistivity anomalies. Further drilling and interpretation will be required to establish the precise location of the western continuation of Ronguen mineralization.

RC drill hole lengths varied from 60 to 95 metres, and core hole -042 was drilled to a depth of 119 metres. All holes were drilled at an inclination of -60 degrees. A total of 1,310 metres were drilled in the 16 RC holes which were continuously sampled at one metre intervals for assaying. Sampling of core holes is done using nominal one metre sampling intervals that may be modified by the logging geologist based on lithology / alteration.

Ronguen Exploration Plan

A total of 98 RC holes totalling 7,793 metres and 18 core holes totalling 2,347 metres have been completed in the fall 2011 drilling program on the Ronguen gold deposit. A total of 1,325 linear metres in 13 trenches have now been completed as well. The samples from the remaining 17 core holes and all trenches have been delivered to the assay laboratory and results will be announced when received. Following receipt of all assays, results will be interpreted and incorporated into a three dimensional model for preparation of the updated resource estimate.

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 conglomerate that are intruded by plugs, and narrow dykes and sills of gabbroic composition. The Ronguen mineralized zone is located in the structural hanging wall of a major ENE thrust fault which recorded a tectonic transport direction towards the north. The mineralized deformation corridor represents a major ENE trending reverse fault zone, dipping moderately towards the south. Gold mineralization is found in both metasedimentary and mafic intrusive rocks. The gold mineralization is associated with quartz-carbonate veins/veinlets and with sulphides occurring as disseminations and patches, and in veinlets. 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.

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 SGS laboratory in Ouagadougou, Burkina Faso was used for sample analysis. Samples are assayed using standard fire assay techniques on a 50 gram charge with an atomic absorption finish. For its internal control, SGS 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 7.5% of the total samples submitted.

The RC drilling was contracted to Forages Technic-Eau/Burkina sarl based in Ouagadougou, Burkina Faso, whereas the core drilling was contracted to PPI Burkina sarl, also based in Ouagadougou.

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 Canadian mineral exploration company which has successfully focused on gold exploration in West Africa, where the Company has discovered, and is currently expanding and defining the 249,000 ounce (inferred resource of 5.9 million tones at a grade of 1.31 g/t Au) Ronguen gold deposit in Burkina Faso.

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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