Goldrush Resources Ltd.
TSX VENTURE : GOD
OTCQX : GDRRF

Goldrush Resources Ltd.

March 14, 2012 04:30 ET

Goldrush Intersects 5.01 g/t Gold Over 5 Metres in Discovery Drilling on Ouavousse Permit, Markoye Fault Corridor, Burkina Faso

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 14, 2012) - Goldrush Resources Ltd. (TSX VENTURE:GOD)(OTCQX:GDRRF) ("Goldrush" or the "Company") is pleased to announce the results of the initial Ouavousse permit drilling on seven previously identified gold bearing areas. The program consisted of a 30 hole, 2,820 metre reverse circulation ("RC") drilling program on the 244 square kilometer permit in central Burkina Faso, West Africa, and highlighted the Kooligri South area for detailed evaluation. Highlights of the drilling results include:

  • 5.01 g/t Au over 5 metres, in RC hole OUKR11-029, including 20.1 g/t Au (vg) over 1.0 metres.
  • 8.67 g/t Au over 2 metres, in RC hole OUKR11-001
  • 1.07 g/t Au over 4 metres, in RC hole OUKR11-006

Commenting on the drill results, Goldrush President and CEO Len Brownlie said: "In only 30 holes of the first drilling carried out on the Ouavousse permit, Goldrush has successfully discovered an open mineralized structure over a strike length of 160 metres at the Kooligri South artisanal site where the highest grade intersection occurs in the northeastern most hole (-029) and is open in all directions. This part of the Ouavousse permit has been added to the Company's list of attractive targets for follow-up exploration. A program of mapping and soil sampling is currently underway to assist in the delination of additional drill targets."

It is noteworthy that the Ouavousse permit is immediately west of, and crossed in part, by the interpreted corridor of the Markoye Fault, a major NNE trending structural zone (and possible Porcupine-Destor Fault analogue). The Markoye Fault corridor which has been traced for over 400 kilometres in Burkina Faso and lies adjacent to several substantial gold deposits, including Iamgold's Essakane mine, High River Gold's Taparko mine, Volta's Kiaka gold deposit, and Orezone's Bombore project.

RC holes -027, -028 and -029 were drilled on 80 metre centres at the Kooligri South artisanal site. All three holes intersected the mineralized structure consisting of quartz veining hosted in a deformed, silicified granodiorite with pyritized vein selvages. At 650 metres north of Kooligri South, RC hole OUKR11-030 intersected 1.09 g/t Au over 3 metres, with quartz veining hosted in a strongly deformed sericitized schist. Previous rock sampling (two samples) from this Kooligri North site had produced a best value of 1.58 g Au/t, while seven samples from Kooligri South had returned a high value of 9.77 g Au/t.

The remaining 26 exploration holes drilled on six additional orpailleur (artisanal mining) sites (Ouavousse North, Ouavousse South, OTR 1, Poessin 1, Poessin 2 and Poessin 3) intersected generally short, lower grade sections from areas which had been quite substantially pitted by the orpailleurs.

Assay Results

Significant intersections are noted above and in the following table:

HOLE ID X-WGS84 Y-WGS84 Target Azimuth Total
Depth
From To Interval Au
(m ) (m ) (m ) (m ) g/t
OUOR11-001 767621 1417348 OUAVOUSSE S 5 133 13 14 1 0.72
and 40 41 1 0.8
and 85 87 2 8.67
and 92 93 1 0.69
OUOR11-004 767562 1417459 OUAVOUSSE S 185 91 50 51 1 0.68
and 59 60 1 1.08
OUOR11-006 768757 1417821 OTR 1 325 81 54 58 4 1.07
OUOR11-009 767764 1417681 OUAVOUSSE N 5 127 44 46 2 1.13
and 57 58 1 1.53
and 88 89 1 0.58
OUOR11-011 767692 1417694 OUAVOUSSE N 5 110 19 20 1 1.01
and 51 52 1 0.95
OUOR11-013 767536 1417688 OUVOUSSE N 5 97 49 50 1 1.73
OUPR11-018 761321 1420045 POESSIN-2 340 110 40 41 1 3.34
OUPR11-023 761011 1420224 POESSIN-3 340 80 12 13 1 0.52
and 16 18 2 0.88
OUPR11-024 760936 1420195 POESSIN-3 340 80 13 16 3 0.97
OUPR11-025 760869 1420148 POESSIN-3 340 80 21 24 3 1.14
OUKR11-027 761287 1425093 KOOLIGRI S 165 102 63 64 1 1.08
and 69 70 1 0.9
OUKR11-028 761362 1425131 KOOLIGRI S 165 100 82 83 1 2.78
and 91 92 1 0.83
OUKR11-029 761440 1425142 KOOLIGRI S 165 97 74 79 5 5.01
including 77 78 1 20.1
and 84 89 5 0.78
OUKR11-030 761458 1425823 KOOLIGRI N 165 80 23 26 3 1.09

All holes were drilled at an inclination of -60 degrees. True widths are unknown at this time. A total of 2,820 metres were drilled in the 30 RC holes which were continuously sampled at one metre intervals for assaying.

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 11.5% of the total samples submitted.

The RC drilling was contracted to Forages Technic-Eau/Burkina sarl based in Ouagadougou, Burkina Faso.

Mr. Driffield Cameron, P. Geo., Vice President, Exploration 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.

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.

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

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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