TSX-V Symbol: GOT
Frankfurt: 0GT
VANCOUVER,
April 27 /PRNewswire/ - Golden
Touch Resources Corp. ("Golden Touch" or the "Company") (TSX-V
Symbol: GOT; Frankfurt: 0GT) is
pleased to announce the expansion of its current drill program at
the Company's Rubik gold project in Albania.
The Rubik gold project covers 68 km2 and is situated
about 100 kilometers north of the Albanian capital, Tirana.
In March Golden Touch commenced a 2,000 meter verification
diamond drilling program in the Gjazuj Area, located towards the
northern end of the project area. At Gjazuj previous
drilling and recent surface trenching has defined significant gold
grades over a strike distance of 1300 meters.
To date six holes have been completed for approximately 600
meters. Several new trenches have also been sampled along the
breccia zone. The company's geologists are encouraged by the
geology encountered and an initial batch of samples has been
shipped to ALS Laboratory in Romania for analysis. ALS is an ISO
Certified Facility.
Mr. Aly B. Mawji,
President of Golden Touch stated:
"We are very pleased with the progress to date on the current drill
program and as a result the company now plans to expand the 2011
drill program to around 4,000 meters. We will continue to
drill test new targets and define the Gjazuj deposit."
Golden Touch's
principal assets are the three 100-per-cent-owned Albanian
Exploration Projects, totalling approximately 140 sq. km, located
in Northern Albania. The Company's subsidiary has already
spent in excess of US$5 million on
exploration within the permit areas, which has resulted in the
outlining of significant gold, platinum group elements (PGE) and
chromite mineralization.
Golden Touch has filed an updated
National Instrument 43-101 ("NI 43-101") compliant technical report
dated effective February 18, 2011 and
revised effective March 13, 2011 (the
"1124 Report") on the Livadheza Gold Project (EC 1124) prepared by
Ian Mathinson, Bsc (Hons Geol),
MAusIMM, with the TSX-V which is posted under the Company's
profile on SEDAR at www.sedar.com. Golden Touch is presently completing NI 43-101
compliant reports on the three other ECs and expects to file the
reports on SEDAR when complete.
The following is a summary of information contained in the NI
43-101 - EC1124 Report:
Exploration for gold has located near surface
gold mineralization within a major regional structural breccia zone
that can be defined over a strike length of 20 km. Along this
strike interval geochemical surface soil sampling has defined a
number of gold in soil anomalies over approximately ten kilometers
of the strike. One anomaly (Gjazuj) coincides with an area
previously drill tested in the 1980's for "sulphide bearing
silica"(silica). The silica was used as a flux material for a
copper smelter. The other nine kilometers remains untested.
The sulphide bearing silica (silica) occurs as
pods within the breccias which dips northwards at around 30
degrees. The silica located in each hole was selectively sampled
and assayed for a range of elements, of which only gold was found
to be present in significant quantities.
The results of 157 diamond holes, ranging in
diameter 74-146 mm, have been verified and compiled into a data
base of historical information. Most of the holes were drilled on a
40 m x 40 m grid (some areas 20m x 20m) over a length of 700 meters
along the strike of the breccia, with scattered holes out to a
length of 1,300 meters.
| From these holes 246 separate assays (average down
hole interval one meter), have been compiled by Jab Albania into a
data base and evaluated. The best gold bearing down hole intervals
being: Hole |
Intercept downhole (M) |
Intercept thickness (m) |
Grade ( g/t Au) |
| 415 |
59-65.9 |
6.9 |
9.5 |
| 64 |
26.5 - 34.5 |
8.0 |
7.2 |
| 224 |
48-53.5 |
5.5 |
10.4 |
| 26a |
41.5 - 43.5 |
2 |
21.8 |
| 62 |
55-59.6 |
4.6 |
6.4 |
| 224 |
44-44.8 |
0.8 |
29.4 |
| 540 |
45-46.8 |
1.8 |
10.25 |
| 274 |
56-56.6 |
0.6 |
23.7 |
The gold mineralization is open in both
directions along strike, as well as to depth. The prospective
breccia zone dips at about 30 degrees to the north beneath a thin
layer of colluvium.
High grade gold mineralization occurs in at
least four areas, each of which could reflect a mineralized pipe,
originally fed from depth, that have been developed within major
structural dilation zones within the breccia.
Recent surface sampling has indicated that gold
occurs not only in the silica pods but elsewhere in the breccias.
The geological logs suggest that this breccia may average 10 meters
in width.
Jab Albania has
completed a trench over the previously only known outcrop on the
property, which has defined mineralization in excess of 6 meters in
width with an average gold grade of 6.3 g/t Au.
More recently, a new outcrop was discovered during drill rig
access cutting where silica is limited to narrow veinlets and the
alteration is mainly "chloride" alteration a channel sample was
completed and defined mineralization in excess of 9 meters with an
average gold grade of 3.3 g/t Au.
Golden Touch is
of the view that the evaluation of the prospective breccia zone
within any drill hole is incomplete and hence there is potential
for the current drilling program and the planned extension to the
program, to locate additional gold mineralization even within the
section drilled.
Robert Murdoch,
Chairman of Golden Touch and a
qualified person under the meaning of Canadian National Instrument
43-101, is responsible for the technical content of this news
release.
On Behalf of the Board of Directors
Golden Touch Resources Corp.
"Aly B. Mawji",
President
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
SOURCE Golden Touch Resources Corp.