VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/05/13 -- Golden Reign Resources Ltd. (TSX VENTURE: GRR) (the "Company" or "Golden Reign") is pleased to provide additional results from the Intermediate Area in the Southern District of its San Albino-Murra Property (the "Property") located in Nueva Segovia, Nicaragua.
The Intermediate Area has a strike length of 1,000 metres and is located approximately 2 kilometres south of the Company's San Albino Gold Deposit and 500 metres south of the San Pablo Area, for which trenching and exploration pit results were released on January 24, 2012. Golden Reign plans to conduct additional work, with the aim of geologically connecting the San Pablo and Intermediate areas.
Continued exploration of the Intermediate Area in 2012 included the excavation of two exploration pits. This work was a follow-up to the comprehensive trenching program completed in 2011 that consisted of 13 trenches across 417 metres.
Intermediate Area Exploration Findings include:
-- High-grade, near-surface quartz vein structure traced strike length of 1,000 metres, open in both directions and down-dip-- Second discovery of heavily mineralized sulphide masses (bodies) intercalcated with quartz veins, with the first situated only 500 metres to the north in the San Pablo Area-- High-grade gold mineralization is distributed in the country rock, not restricted solely to the mineralized quartz veins
Intermediate Area Exploration Results include:
-- High-grade, near-surface mineralization includes 5.3 metres of 48.28 g/t gold and 21.0 g/t silver intersected in trench LC11-TR-10, which includes 2.0 metres of 118.91 g/t gold and 40.2 g/t silver-- 5 samples from mineralized sulphide masses within exploration pit EP- INT11-TR-03 returned an average of 15.93 g/t gold and 20.3 g/t silver over a true thickness of 1.8 metres-- Continuous sampling of the host rock (phyllites) in trenches returned high-grade gold mineralization: -- LC11-TR-26 returned 18.0 metres of 3.40 g/t gold and 7.0 g/t silver -- LC11-TR-15 returned 2.0 metres (vertical sample) of 62.96 g/t gold and 19.2 g/t silver
Intermediate 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 INT11-TR-03 and LC11-TR-10. Pit samples collected along the strike and dip of the veins returned values ranging from 0.26 g/t to 30.88 g/t gold and 1.53 g/t to 122.40 g/t gold for pits EP-INT11-TR-03 and EP-LC11-TR-10, respectively.
Golden Reign also tested the true thickness of the veins, which returned 1.80 metres averaging 15.93 g/t gold and 1.62 metres averaging 2.52 g/t gold for trenches INT11-TR-03 and LC11-TR-10, respectively.
The exploration pit at INT11-TR-03 exposed a structurally controlled, heavily mineralized sulphide mass (body) intercalated with quartz veins with similar mineralization. This marks the second discovery of mineralized sulphide masses; the prior discovery was at exploration pit SP11-TR-02 within the San Pablo Zone, situated 500 metres north. The sulphide masses in both areas carry significant gold values and are very similar in style of mineralization. Additional exploration work will be conducted to test the Company's theory that these are conjoined and represent one continuous heavily mineralized sulphide mass system.