The Intermediate Area
) has a strike length of 1,000 metres and is located approximately 2 kilometres south of the Company's San Albino Gold Deposit and 500 metres south of the San Pablo Area, for which trenching and exploration pit results were released on January 24, 2012. Golden Reign plans to conduct additional work, with the aim of geologically connecting the San Pablo and Intermediate areas.
Continued exploration of the Intermediate Area in 2012 included the excavation of two exploration pits. This work was a follow-up to the comprehensive trenching program completed in 2011 that consisted of 13 trenches across 417 metres.
Intermediate Area Exploration Findings include:
Intermediate Area Exploration Results include:
- High-grade, near-surface quartz vein structure traced strike length of 1,000 metres, open in both directions and down-dip
- Second discovery of heavily mineralized sulphide masses (bodies) intercalcated with quartz veins, with the first situated only 500 metres to the north in the San Pablo Area
- High-grade gold mineralization is distributed in the country rock, not restricted solely to the mineralized quartz veins
- High-grade, near-surface mineralization includes 5.3 metres of 48.28 g/t gold and 21.0 g/t silver intersected in trench LC11-TR-10, which includes 2.0 metres of 118.91 g/t gold and 40.2 g/t silver
- 5 samples from mineralized sulphide masses within exploration pit EP-INT11-TR-03 returned an average of 15.93 g/t gold and 20.3 g/t silver over a true thickness of 1.8 metres
- Continuous sampling of the host rock (phyllites) in trenches returned high-grade gold mineralization:
- LC11-TR-26 returned 18.0 metres of 3.40 g/t gold and 7.0 g/t silver
- LC11-TR-15 returned 2.0 metres (vertical sample) of 62.96 g/t gold and 19.2 g/t silver