| Thu Jan 21, 2010 Additional Results - El Jobo/San Albino/Arras/San Lorenzo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Golden Reign Resources Ltd. (the "Company" or "Golden Reign")(TSX-V: GRR) has completed a compilation of data for the area surrounding the historic San Albino Mine on its San Albino-Murra Gold Property (the "Property") located in northern Nicaragua. Further to previously announced results (see release dated December 22, 2009), the Company is pleased to report additional findings from the El Jobo/San Albino/Arras/San Lorenzo area, or northern structural zone within the San Albino District. Golden Reign has recently reported results for the southernmost section of the San Albino District -- the Las Conchitas-San Pablo mineralized structural zone (see releases dated January 14 and 19, 2010). El Jobo/San Albino/Arras/San Lorenzo Mineralized Structural Zone Phase I exploration consisted of sampling and mapping quartz vein outcrops and testing mine dumps at the entrances to old adits. Work to date has defined mineralized structures with several orientations, as a result of a combination of structural controls and multiple mineralizing events. Several exploration targets have been identified and ranked on the basis of exploration data and mineralized structures. The El Jobo/San Albino/Arras/San Lorenzo mineralized structure has been traced over 1,200 metres in strike length, trending northeast-southwest, and is the top priority for further exploration. Mineralized quartz veins within the El Jobo/San Albino/Arras/San Lorenzo structure are hosted by a thick package of graphitic schist which also contains significant gold mineralization. Gold and silver occur within sheeted quartz veins and veinlets containing sulphide mineralization. Pyrite galena, arsenopyrite and minor sphalerite occur as veinlets and small segregations where the total sulphide accounts for only a small percentage of the vein filling. Analysis of assay results has determined that the highest gold and silver grades are found where galena predominates over other sulphides. The more significant sampling results are tabulated below:
Please click here for a map of the of the San Albino-Murra Concession (http://www.goldenreignresources.com/i/front/CONCESSION-1_Revised_web.jpg) Qualified Person John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under NI 43-101) has reviewed the technical information contained in this news release. The trading blackout period, initiated on December 22, 2009, for all insiders, management and consultants of the Company pending the release of all assay results from its Nicaraguan project will cease 24 hours from the dissemination of this release. On behalf of the Board, "Kim Evans" Kim Evans, CGA Director & CFO About Golden Reign: Golden Reign Resources Ltd. is a publicly listed (TSX-V: GRR) mineral exploration company engaged in the business of exploring and developing precious metals and mineral assets in Nicaragua. Under the terms of the option agreement, the Company may acquire an 80% interest in the Property over a four year period by making cash payments totalling US$450,000, issuing 4,000,000 common shares from treasury and incurring aggregate exploration expenditures of US$5,000,000. The San Albino-Murra Property is held by a private Nicaraguan company, Nicoz Resources S.A. ("Nicoz"), under a 25 year mining license expiring February 3, 2027 and covers an area of 8,700 hectares (87 sq km). Nicaragua, a mining-friendly jurisdiction, is situated in the Central American Gold Belt, which extends from Costa Rica in the south to Guatemala in the north. Within this prolific gold belt, estimates of historical production total more than 20 million ounces. For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com. Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
You can view the Next News Releases item: Tue Feb 2, 2010, 2010 Phase II Exploration Program Planned At San Albino-Murra Gold Property You can view the Previous News Releases item: Tue Jan 19, 2010, San Pablo Assay Results You can return to the main News Releases page, or press the Back button on your browser. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
