The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
GRV: TSX-V
Chairman: Conrad Swanson
President: Shane Ebert
Advisor: Alvin Jackson
Advisor: Brad Aelicks
Gold Reach Resources Sept. 5 reported a new and strategic copper gold molybdenum discovery on its 47,559-hectare (117,518 acres) Ootsa property located adjacent to the Huckleberry copper-gold-molybdenum mine south of Smithers, B.C. Ootsa is an advanced exploration project containing the Seel and Ox porphyry systems, both with NI 43-101-compliant resource estimates open for expansion, and a zone of high grade silver and base metal veins at Damascus.
In May 2013 Gold Reach resumed drilling and exploration activities at the Ootsa Project, focusing on defining and expanding near-surface higher grade zones of mineralization and testing new targets.
As of Aug. 29, the 2013 program had drilled more than 14,000 meters in 85-plus holes at the Ox deposit, and drilling was ongoing.
A core zone of higher grade mineralization at Ox has now been delineated over a length of 850 meters with widths of 100 to 150 meters and to depths of 100 to 250 meters.
The company recently added the discovery of the West Seel Porphyry where drill hole S12-118 encountered 128 meters grading 1.01 percent copper-equivalent, consisting of 0.43 percent copper, 0.33 grams per metric ton gold, 0.076 percent molybdenum and 4.76 g/t silver within a much larger interval of 537 meters grading 0.65 percent copper-equivalent, consisting of 0.27 percent copper, 0.19 g/t gold, 0.055 percent moly, and 2.69 g/t silver.
Gold Reach is also conducting an ongoing surface exploration program focused on mapping, prospecting, and rock, soil, and stream silt sampling at Ootsa.
The junior initiated an induced polarization geophysical surveying program in September.
Cash and short-term deposits: C$1.6 million (June 30, 2013)
Working capital: C$1.6 million
(June 30, 2013; raised additional C$925,000 as of Sept. 3, 2013)
Market capitalization: C$32.3million (Sept. 27, 2013)
88-700 West Georgia Street, PO Box 10351
Vancouver, BC, Canada V7Y 1G5
Tel: 604-718-5454 Fax: 604-646-2054
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