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Golden Reign Resources Ltd.
Summary
| Project: | San Albino | |
|---|---|---|
| Deposit: | San Albino - Central Pit | |
| Location: | Nicaragua | |
| Commodities: | Gold-Silver | |
| Date: | 10/17/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-10-2016: Golden Reign Resources Ltd. announces an Exploration/Drilling Update report for its San Albino - Central Pit deposit at the San Albino project. Drilling results incl. 2.0m @ 7.09g/t Au, 12.2g/t Ag at the Central Pit. Golden Reign Resources Ltd | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: John M. Kowalchuk (Internal) | |
| ABSTRACT: | Golden Reign Resources Ltd. (TSX-V: GRR)(the "Company" or “Golden Reign”) is pleased to report results from grade-control drilling and the 2016 trenching program within the Central Pit (Arras zone) of its San AlbinoMurra Gold Property (the “Property”), located in Nueva Segovia, Nicaragua. In all, Golden Reign drilled 101 reverse circulation (RC) drill holes within the Central Pit, and excavated five trenches and nine exploration pits. The Company completed 104 RC drill holes totalling 1,659 metres within the Central Pit of its San Albino Gold Deposit. The holes were spaced approximately 10 metres apart and drilled to a vertical depth ranging from 10 to 40 metres. The grade-control drill program was designed to provide in-fill data and test the continuity of mineralization between previously excavated trenches. The down-dip extension of the mineralized zone was initially exposed in trench AR13-TR-07 over true-width intervals ranging from 1.4 to 4.0 metres (see news release dated October 8, 2013). An exploration pit excavated at this trench exposed some exceptionally high-grade material, including 103.06 g/t (3 oz/ton) gold and 123.4 g/t (3.6 oz/ton) silver over 3.3 metres of true-width. Four additional trenches – AR13-TR-16, 17, 18 & 19 – were then excavated, all of which were oriented along strike, bisected AR13-TR-07, and intersected the mineralized zone. | |
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