Mr. Harold Smith reports:
Currie Rose Resources (TSX VENTURE: CUI) is very pleased to
provide the following exploration and corporate update:
Mabale Hills Gold Project
Currie Rose has intersected near-surface gold mineralization
along a strike length of 300 metres in its first-ever drill program
at Sisu River, one of several prospective properties at its
260-square kilometre Mabale Hills Project in the prolific Lake
Victoria Greenstone Belt of northwest Tanzania.
Drill hole MBMR-01 returned three metres grading 9.89 g/t Au
(including one metre of 28.25 g/t Au) while MBMR-013 intersected 11
g/t Au over three metres (including one metre of 21.25 g/t Au). Six
holes in the 2,587-metre reverse circulation (RC) drill program
encountered significant gold mineralization while an additional 12
holes also intersected mineralization (low grade). Based on these
results, the company has contracted Layne Drilling Tanzania for a
major follow-up drill program this spring utilizing a multi-purpose
rig (diamond drilling and RC). Currie Rose is also immediately
proceeding with a satellite imagery analysis of the Sisu River
anomaly which will include a potassium alteration interpretation. A
deep penetrating IP survey will also be conducted as soon as
weather conditions permit.
"We have outlined a significant near-surface expression at Sisu
River with a zone that is open both to the north and the south and
at depth," states Michael Griffiths, Currie Rose's consulting
geologist. "We've also discovered at least two parallel zones of
low grade material suggesting multiple shear zones. Most of the 26
holes were drilled to vertical depths of only 85 to 95 metres. Our
goal in Phase 2 will be to drill underneath the encouraging
intercepts we found in Phase 1 for the potential of wider zones and
higher grade material at vertical depths between 100 and 150
metres. We're optimistic because other deposits in Tanzania show
similar near-surface expressions."
Sisu River is approximately six kilometres northeast of Currie
Rose's Mwamazengo Property where over 6,000 metres of drilling by
the Company has confirmed the presence of a mineralized zone that
is continuous for 240 metres along strike and down dip from the
surface to approximately 200 metres and remains open at depth.
Notable high-grade intercepts from different holes include 12
metres grading 9.11 g/t Au, 31 metres grading 5.97 g/t Au, 34
metres grading 3.60 g/t Au, and 63 metres grading 2.59 g/t Au. The
Company is reviewing all of its exploration data regarding
Mwamazengo and will be utilizing enhanced geophysical techniques in
order to gain a better understanding of this robust mineralized
system in preparation for a new drill program this spring.
Only a small portion of the large Mabale Hills Project has been
systematically explored. The Company believes the area has strong
exploration upside and expects to define a series of promising new
regional targets in the near future. Mabale Hills has similar
geological characteristics to the multi-million ounce Geita Gold
Mine, approximately 65 kilometres to the northeast, where gold is
found in shear zones within banded iron formations.
Sekenke Gold Project
The Sekenke Gold Project, approximately 200 kilometres from
Mabale Hills at the southeastern end of the Lake Victoria
Greenstone Belt, will be a major focus of Currie Rose's exploration
efforts this year. A 5,000 metre Phase 1 drill program will
commence this spring at Sekenke, a land package that covers nearly
300 square kilometres and surrounds and runs in between two past
producing historic high-grade mines. The Phase 1 drill program,
using a multi-purpose rig, will test the highest priority targets
derived from an extensive ground-based and airborne geophysical
program as well as satellite imagery.
Currie Rose has already identified a highly prospective
structure (12 km x 800 metres) within a shear zone on the margins
of a large granite intrusion that hosts numerous quartz reefs of
the same type and even larger than those that developed at the
nearby historic mines.
Scadding Gold Property
The Company is pleased to report that an 8,000 metre Phase 2
drill program is scheduled to commence tomorrow, January 11, at its
Scadding Gold Mine Property near Sudbury, Ontario. Trueclaim
Exploration, the operator, is absorbing the entire cost of this
program as part of its option to earn a 51% interest in the
Scadding Project. A promising Phase 1 drill program produced
multiple high-grade gold intercepts across significant lengths in
holes throughout the five zones identified to date at this former
producing mine, including 12.9 g/t Au over 19 metres in
TRM-10-07.
Phase 2 drilling at Scadding will target areas of chlorite
breccia, the host rock for the gold mineralization, and is designed
to confirm zone to zone continuity of mineralization. In addition,
previous underground workings where high grades were recovered will
be explored to test the potential for a significant extension of
this mineralized system at depth.
Corporate Developments
Due to the exercising of warrants, Currie Rose's working capital
has increased to $2 million. This provides the company with ample
resources to complete a major exploration program in Tanzania over
the coming months which is warranted due to the very encouraging
early stage results to date at the Mabale Hills and Sekenke
Projects.
"We hold a very large and strategic land position in the Lake
Victoria Greenstone Belt, a proven gold producing region with
several significant deposits and operating mines in close proximity
to our properties," explains Harold Smith, Currie Rose President
and CEO. "2011 is going to be our busiest year ever for exploration
as we will be working vigorously to unlock the value of our
projects. We are in a prolific area of Tanzania where of course
there are also additional opportunities and potential synergies
that we are examining. In that regard our focus is on advanced
situations and if they have the potential to enhance shareholder
value, we will pursue them."
Drill result highlights from Sisu River and detailed geological
information concerning its Tanzanian and Scadding gold properties
are available at the company's web site, www.CurrieRose.com.
BY ORDER OF THE BOARD OF DIRECTORS OF CURRIE ROSE RESOURCES
INC.
Harold Smith, President
Notes:
1. All Assay values are uncut.
2. As there is insufficient data to calculate true widths, drill
intercept lengths only are reported.
3. A Quality Assurance/Quality Control program is part of the
drilling program on the Mabale Hills Project. This program includes
chain of custody protocol as well as systematic submittals of
standards, duplicates and blank samples into the flow of samples
produced by the drilling.
4. A description of the geology, sampling procedures, and the
Company's laboratory Quality Assurance / Quality Control procedures
are as described in the Company's National Instrument 43-101
Technical Report filed on March 21, 2005. This report is available
at www.sedar.com.
5. Samples are prepared and analysed at ALS Laboratories -
Mwanza, Tanzania.
The Qualified Person for the release of this exploration
information is Michael Griffiths AusIMM, Director of Currie Rose
Resources Inc. and Executive Director of Chalice Gold Mines
Limited.
"This news release includes certain forward-looking statements
or information. All statements other than statements of historical
fact included in this release, including, without limitation,
statements relating to the potential mineralization and geological
merits of the and properties and other future plans, objectives or
expectations of the Company are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company's plans or expectations
include risks relating to the actual results of current exploration
activities, fluctuating gold prices, possibility of equipment
breakdowns and delays, exploration cost overruns, availability of
capital and financing, general economic, market or business
conditions, regulatory changes, timeliness of government or
regulatory approvals and other risks detailed herein and from time
to time in the filings made by the Company with securities
regulators. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise
except as otherwise required by applicable securities
legislation."
Contacts: Currie Rose Resources Inc. Harold Smith President
(905) 688-9115 www.CurrieRose.com
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