The Prospector News

Gold Reach acquires another high grade gold silver prospect at Ootsa

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Gold Reach acquires another high grade gold silver prospect at Ootsa

 

 

 

 

 

Gold Reach Resources Ltd. (TSX-V:GRV) is pleased to announce the acquisition of the high grade Troitsa Peak gold-silver prospect near the south side of the Ootsa property, roughly 6.5 kilometres south of the Seel deposit. The Troitsa Peak prospect occurs internal to the Company’s large land holdings on the 100% owned Ootsa property in British Columbia.

 

 

At Troitsa Peak Gold Reach has acquired 940.7 hectares in 7 claims by staking.  An additional 211.26 hectare claim has been acquired in a purchase agreement with vendor Richard Billingsley. Under the terms of the agreement Gold Reach will purchase the claim for total consideration of $5000 and 10,000 shares of the Company.  The Vendor will retain a 1% net smelter return royalty on the claims, 50% of the royalty (0.5% NSR) can be bought back by the Company for $500,000.  The agreement is subject to exchange approval.

 

 

Historic assessment reports on the Troitsa Peak area report epithermal style mineralization in veins and stockwork zones with strong historic gold and silver values over a large area.  Historic surface grab samples have returned values such as 41 g/t gold and 9238 g/t silver, 5.9 g/t gold and 4120 g/t silver, 36.5 g/t gold and 825.6 g/t silver, and 11.4 g/t gold and 2614.4 g/t silver.  A grab sample from a historic trench returned 3.9 g/t gold and 2356 g/t silver and thin veins of quartz-chalcopyrite-sphalerite returned values up to 44.7 g/t gold and 2683.2 g/t silver.  Gold Reach has not yet visited or sampled the prospect and none of the historic results have been confirmed by the Company and they should not be relied upon.

 

 

Dr. Shane Ebert, President of the Company stated, “The Troitsa Peak claims contain the highest historic gold and silver values of any known prospect on the large Ootsa claim block, and mineralization occurs within a very large area, extending at least 2 kilometres by 4 kilometres. The area shows good potential for both high grade bonanza style epithermal veins and lower grade bulk tonnage targets.  The claims are only 3.5 kilometres from the nearest road and establishing access will be key to efficiently and thoroughly exploring the zone.  The acquisition of the Troitsa Peak prospect fits within the Company’s strategic plan for the Ootsa property which includes acquiring and evaluating all high potential exploration targets in the district.”

 

 

With the recent addition of the Troitsa Peak claims the Ootsa property is now 71,828 hectares in size and contains 6 large precious metal prospects with excellent exploration potential, in addition to the established porphyry Cu-Au-Mo-Ag resources at the Ox, East Seel, and West Seel deposits.

 

About Gold Reach Resources

 

The Ootsa property is an advanced stage exploration project containing the East Seel, West Seel and Ox porphyry systems all with NI 43-101 compliant resources.  The Company has completed 144,673 metres of core drilling on the property to date, with 9,795 metres completed during 2014.   In total the Ootsa property contains compliant pit constrained resources totaling 1.25 billion pounds copper equivalent in the measured and indicated categories (consisting of 0.7 billion lbs. of Cu, 0.65 million ounces of Au, 66 million lbs. of Mo, and 11.4 million ounces of Ag) and 1.66 billion pounds copper equivalent in the inferred category (consisting of 0.9 billion lbs. of Cu, 0.8 million ounces of Au, 104 million lbs. of Mo, and 16 million ounces of Ag), using a 0.2% copper equivalent cut off.

 

Posted November 24, 2014

Share this news article

MORE or "UNCATEGORIZED"


VIZSLA SILVER AGREES TO ACQUIRE NEWLY CONSOLIDATED PAST-PRODUCING SILVER DISTRICT IN THE EMERGING SILVER-GOLD-RICH PANUCO - SAN DIMAS CORRIDOR IN MEXICO

Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) i... READ MORE

March 28, 2024

Additional Drill Results Highlighted by Hole D-380 in Block 6 at Oko West, Intersecting 39.7 m Grading 5.27 g/t Au Including 2.8 m @ 14.18 g/t Au and 13.0 m Grading 10.50 g/t Au

Reunion Gold Corporation (TSX-V: RGD) (OTCQX: RGDFF) is pleased t... READ MORE

March 28, 2024

STLLR Gold’s Tower Gold Project Infill Drilling Continues to Confirm Mineralization at the Jonpol Deposit

STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) announces ... READ MORE

March 28, 2024

Hudbay Provides Annual Reserve and Resource Update and Production Outlook

Consolidated copper production is expected to average 153,000i to... READ MORE

March 28, 2024

Aya Gold & Silver: Record 2023 Production, Revenue and Operating Cash Flow

Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) is pleased t... READ MORE

March 28, 2024

Copyright 2024 The Prospector News