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Golden Reign Resources Ltd.
Summary
| Project: | San Albino | |
|---|---|---|
| Deposit: | San Albino - West Pit | |
| Location: | Nicaragua | |
| Commodities: | Gold-Silver | |
| Date: | 9/8/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 8-9-2016: Golden Reign Resources Ltd. announces an Exploration/Drilling Update report for its San Albino - West Pit deposit at the San Albino project. Drilling results incl. 4.0m @ 37.70g/t Au, 57.7g/t Ag. Golden Reign Resources Ltd. (TSX-V: GRR) (the "Co | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: John M. Kowalchuk (Not stated) | |
| ABSTRACT: | Golden Reign Resources Ltd. (TSX-V: GRR) (the "Company" or “Golden Reign”) is pleased to report partial results from grade-control drilling within the proposed West Pit on its wholly-owned San Albino Gold Deposit located in Nueva Segovia, Nicaragua. Further results will be reported in due course. Several drill holes intersected high-grade mineralization. The Company completed 1,581 metres of Reverse Circulation (RC) drilling at San Albino’s West Pit. The program was designed to define the grade and distribution of mineralization, confirming grade continuity within the area proposed for exploitation during the first stage of open-pit mining. As a result of the drilling, along with additional exploration work, the Phase I open-pit plan is being expanded. Results from RC holes have previously been verified with diamond drill holes. Initial plans considered the development of two smaller pits – situated roughly 39 metres apart – representing the first 6 to 12 months of planned open-pit mining activity. In addition to testing the pits vertically to an approximate depth of 20 metres, the grade-control drill program successfully tested the area between the two modelled pits and extended the pit boundaries (see Figure 1). Golden Reign’s geologists are now confident that the two smaller pits can be merged into one larger pit. Prior to 2016, this area had been tested by only one diamond drill hole and four trenches. | |
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