Open Gold Corp.

Open Gold Corp.

March 18, 2011 09:00 ET

Open Gold Announces Drilling Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2011) - Open Gold Corp. (formerly Range Capital Corp.) (TSX VENTURE:OPG)(FRANKFURT:5OG) ("Open Gold" or the "Company") is pleased to announce the completion of the initial program of diamond drilling at its Eholt project located near Grand Forks, British Columbia. A total of 1,919 meters were drilled in 8 holes in this program, 6 to test the Dead Honda and 2 at the Senator showings. All core samples have now been prepared and submitted to Acme labs in Vancouver for analysis. The drill has been demobilized from the property pending assay results.

Holes EH 11-01 thru 03 and EH 11-06 thru EH 11-08 were drilled in the Dead Honda zone, where historic drilling has returned significant copper-gold intercepts associated with garnet+pyroxene+chlorite skarn alteration of Triassic Brooklyn Formation sedimentary rocks. Each of the holes in this year's program were drilled toward the southwest to test for a possible northeast oriented trend to skarn mineralization encountered in prior drilling. All holes intercepted intervals of strong garnet+pyroxene+chlorite skarn alteration and localized chalcopyrite mineralization.

Holes EH 11-04 and EH 11-05 were drilled at the Senator Showing to test gold and copper bearing massive sulfide lenses exposed in historic mine workings. Both holes collared in pyrite+/-chalcopyrite bearing chert of the Triassic Knob Hill formation, before entering Eocene age Coryell intrusive rocks.

Further drilling at the Dead Honda will depend on results on samples submitted for assay, which will be reported shortly.

The just completed program partially tested only two of the six priority targets previously identified on the property.

James S. (Jim) Kermeen, M.Sc., P.Eng., is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.


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