VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/24/13 -- Golden Reign Resources Ltd. (TSX VENTURE: GRR) (the "Company" or "Golden Reign") is pleased to provide additional results from the San Pablo Zone in the Southern District of its San Albino-Murra Property (the "Property") located in Nueva Segovia, Nicaragua.
San Pablo Exploration Pits
In 2012, two exploration pits (see Table 1 below and attached map) were excavated to expose the mineralized veins intersected by trenching along strike and down dip in trenches SP11-TR-02 and SP11-TR-04. Samples collected across the true thickness of the intersected veins returned values ranging from 3.46 g/t to 28.29 g/t gold and 0.21 g/t to 3.75 g/t gold for trenches SP11-TR-02 and SP11-TR-04, respectively.
The exploration pit at SP11-TR-02 exposed structurally controlled, heavily mineralized sulphide masses (bodies) intercalated with quartz veins. These bodies carry significant gold values ranging from 1.50 g/t to 31.78 g/t gold with gold mineralization appearing to be more uniformly distributed. This is a new style of mineralization, significantly different from the quartz veins mineralization found at other prospects throughout the Property.
Trenching has outlined 4 parallel NE/SW trending structurally controlled mineralized zones (see Table 2 below and attached map) ranging from 300 to 1,500 metres in length, located approximately 1.5 kilometres south of the San Albino Gold Deposit and covering a 2.5 square kilometre area.
The San Pablo Zone, outlined by the most northern set of trenches, has been traced at surface over a strike length of 300 metres and remains open along strike in both directions and down dip. In 2011, a total of 237 samples were collected from 6 trenches (SP11-TR-01 through SP11-TR-06) spaced approximately 50 metres apart (see news releases dated May 2, 2011 and May 19, 2011). Newly excavated Trench SAM12-TR-09 has expanded the dip direction of the mineralized structures by 50 metres.
Highlights from trenching completed to date include:
-- SAM12-TR-09 4.0 metres averaging 5.77 g/t gold and 10.3 g/t silver-- SP11-TR-01 1.0 metre averaging 6.68 g/t gold and 5.2 g/t silver and 1.0 metre averaging 1.11 g/t gold, minor silver-- SP11-TR-02 8.5 metres averaging 8.94 g/t gold and 5.2 g/t silver including 4.5 metres averaging 15.26 g/t gold and 8.6 g/t silver-- SP11-TR-03 6.5 metres averaging 1.80 g/t gold, minor silver including 1.0 metre averaging 6.54 g/t gold and 11.6 g/t silver-- SP11-TR-04 16.0 metres averaging 6.25 g/t gold and 5.1 g/t silver including 9.0 metres averaging 6.51 g/t gold, minor silver and 3.0 metres averaging 13.14 g/t gold and 5.9 g/t silver-- SP11-TR-05 3.0 metres averaging 9.19 g/t gold, minor silver
Significantly, the mineralized zones within all seven trenches consisted of intercalated quartz and schist, not just quartz veins. Gold mineralization, ranging from under 1 g/t to 37.37 g/t gold, occurs not only in mineralized veins but also in the surrounding phyllite. Trench SAM12-TR-09 returned values from 1.66 g/t to 20.41 g/t gold within the quartz vein and 2.85 g/t to 6.48 g/t gold within the host rock (weathered phyllite). Samples collected from weathered wall rock within the trenches returned high gold values, ranging from 1.11 g/t to 20.60 g/t gold. This style of mineralization is the same as that at the San Albino Gold Deposit, where thicker intersections in drill core consist of anastomising quartz veins in schist.