Comprehensive and detailed sampling of the country rock (phyllites) has been completed. The significant finding is that gold mineralization is distributed in the host rock containing quartz veinlets, occasionally represented as a quartz stockwork or breccia, and is not restricted solely to the mineralized quartz veins, as previously believed. Previously unreleased results from trench LC11-TR-26, as example, returned 18.0 metres averaging 3.40 g/t gold and 7.0 g/t silver in the country rock.
Other highlights from trenching completed in country rock:
- INT11-TR-01 2.0 metres averaging 26.89 g/t gold and 35.7 g/t silver and 2.0 metres averaging 9.76 g/t gold and 8.95 g/t silver- INT11-TR-02 9.0 metres averaging 4.16 g/t gold and 4.4 g /t silver- INT11-TR-03 4.0 metres averaging 2.70 g/t gold and 1.5 g/t silver and 2.0 metres averaging 10.76 g/t gold and 12.5 g/t silver vertical samples returned gold values in a range from 1.02 to 3.15 g/t gold- INT11-TR-04 1.0 metre averaging 4.52 g/t gold and 0.9 g/t silver- LC11-TR-15 vertical sample returned 2.0 metres of 62.96 g/t gold and 19.2 g/t silver and vertical sample returned 2.0 metres of 3.53 g/t gold and 7.8 g/t silver- LC11-TR-16: 1.0 metres of 3.16 g/t gold and 4.1 g/t silver five vertical samples, 1.0 metre wide, each averaging 7.49 g/t gold and 6.9 g/t silver--------------------------------------------------------------------------- Table 1 - 2012 EXPLORATION PIT SAMPLES--------------------------------------------------------------------------- Sample Width Sample Au AgExploration Pit # (m) type Rock type (g/t) (g/t)---------------------------------------------------------------------------EP-INT11-TR-03 174109 1.00 Dip Heavy sulphide 21.18 22.4 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174110 1.00 Dip Heavy sulphide 20.06 34.3 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174111 1.00 Dip Heavy sulphide 17.77 42.6 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174112 1.00 Dip Heavy sulphide 0.31 0.5 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174113 1.00 Dip Heavy sulphide 0.26 1.0 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174114 1.00 Dip Heavy sulphide 13.97 10.0 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174115 1.00 Dip Heavy sulphide 20.50 22.9 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174116 1.00 Dip Heavy sulphide 6.22 11.3 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174117 1.50 Dip Heavy sulphide 8.08 10.2 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174118 2.00 True Heavy sulphide 9.34 14.6 Thickness mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174119 2.00 True Heavy sulphide 22.34 22.2 Thickness mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174120 2.00 True Heavy sulphide 14.92 20.5 Thickness mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174122 1.50 True Heavy sulphide 0.90 4.3 Thickness mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174123 1.50 True Heavy sulphide 32.52 41.1 Thickness mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174124 1.50 Strike Heavy sulphide 4.28 2.3 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174125 1.50 Strike Heavy sulphide 16.38 18.3 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174126 2.00 Strike Heavy sulphide 11.48 4.7 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174127 2.00 Strike Heavy sulphide 15.30 17.2 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174128 2.00 Strike Heavy sulphide 5.71 21.0 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174129 2.00 Strike Heavy sulphide 30.88 29.5 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174130 1.5 Strike Heavy sulphide 11.83 21.8 mineralized quartz vein---------------------------------------------------------------------------EP-INT11-TR-03 174131 1.5 Strike Heavy sulphide 15.57 17.7 mineralized quartz vein---------------------------------------------------------------------------EP-LC11-TR-10 72738 1.00 Dip Phyllites 0.12 1.1---------------------------------------------------------------------------EP-LC11-TR-10 72739 1.00 Dip Qtz vein with 57.30 36.5 sulphides, galena, aspy, py---------------------------------------------------------------------------EP-LC11-TR-10 72740 1.00 Dip Qtz vein with 90.50 58.5 sulphides, galena, aspy, py---------------------------------------------------------------------------EP-LC11-TR-10 72741 1.50 Dip Qtz vein with 4.53 15.4 sulphides, galena, aspy, py---------------------------------------------------------------------------EP-LC11-TR-10 72742 1.50 True Qtz vein with 2.47 10.9 Thickness sulphides, galena, aspy, py---------------------------------------------------------------------------EP-LC11-TR-10 72743 1.70 True Qtz vein with 2.12 4.7 Thickness sulphides, galena, aspy, py---------------------------------------------------------------------------EP-LC11-TR-10 72744 1.70 True Qtz vein with 3.00 4.2 Thickness sulphides, galena, aspy, py---------------------------------------------------------------------------EP-LC11-TR-10 72745 2.00 True Qtz vein with 2.50 4.5 Thickness sulphides, galena, aspy, py---------------------------------------------------------------------------EP-LC11-TR-10 72746 1.20 True Qtz vein with 2.53 6.9 Thickness sulphides, galena, aspy, py---------------------------------------------------------------------------EP-LC11-TR-10 72747 2.00 Strike Qtz vein with 1.53 2.9 sulphides, galena, aspy, py---------------------------------------------------------------------------EP-LC11-TR-10 72748 1.60 Strike Qtz vein with 14.10 11.4 sulphides, galena, aspy, py---------------------------------------------------------------------------EP-LC11-TR-10 72749 1.50 Strike Qtz vein with 3.45 11.4 sulphides, galena, aspy, py---------------------------------------------------------------------------EP-LC11-TR-10 72750 1.20 Strike Qtz vein with 122.40 greater sulphides, galena, than aspy, py 100.0------------------------------------------------------------------------------------------------------------------------------------------------------ Table 2 - 2011-2012 INTERMEDIATE TRENCH RESULTS--------------------------------------------------------------------------- Sample Width Sample Au AgTrench # # (m) type Rock type (g/t) (g/t)---------------------------------------------------------------------------INT11-TR-01 173124 1.00 Floor Weathered 1.00 0.9 phyllites with qtz lences---------------------------------------------------------------------------INT11-TR-01 173133 0.60 Floor Qtz vein with 22.08 29.5 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-01 173134 0.60 Floor Qtz vein with 12.35 14.1 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-01 173135 1.00 Floor Qtz vein with 47.90 67.6 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-01 173136 1.00 Floor Qtz vein with 26.84 36.6 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-01 173139 1.00 Floor Weathered 28.16 41.0 phyllites with qtz fragments---------------------------------------------------------------------------INT11-TR-01 173140 1.00 Floor Weathered 25.62 30.4 phyllites with qtz fragments---------------------------------------------------------------------------INT11-TR-01 173142 1.00 Floor Weathered 11.15 10.0 phyllites with qtz fragments---------------------------------------------------------------------------INT11-TR-01 173143 1.00 Floor Weathered 8.36 7.9 phyllites with qtz fragments---------------------------------------------------------------------------INT11-TR-01 173148 1.00 Vertical Weathered 2.12 3.8 phyllites with qtz fragments---------------------------------------------------------------------------INT11-TR-01 172471 1.00 Vertical Weathered 21.39 54.6 phyllites with qtz fragments---------------------------------------------------------------------------INT11-TR-01 172472 0.60 Vertical Weathered 1.45 3.4 phyllites with qtz fragments---------------------------------------------------------------------------INT11-TR-01 172473 1.00 Vertical Weathered 7.03 7.6 phyllites with qtz fragments---------------------------------------------------------------------------INT11-TR-02 172489 1.00 Floor Soil with qtz 2.18 3.4 bolders---------------------------------------------------------------------------INT11-TR-02 172490 1.00 Floor Soil with qtz 2.94 0.3 bolders---------------------------------------------------------------------------INT11-TR-02 172491 1.00 Floor Soil with qtz 1.02 1.0 bolders---------------------------------------------------------------------------INT11-TR-02 172492 1.00 Floor Phyllites with qtz 1.20 1.2 veinlets---------------------------------------------------------------------------INT11-TR-02 172493 1.00 Floor Phyllites with qtz 1.13 1.3 veinlets---------------------------------------------------------------------------INT11-TR-02 172494 1.00 Floor Phyllites with qtz 13.01 8.2 veinlets---------------------------------------------------------------------------INT11-TR-02 172495 1.00 Floor Phyllites with qtz 7.54 6.7 veinlets---------------------------------------------------------------------------INT11-TR-02 172496 1.00 Floor Phyllites with qtz 5.95 15.8 veinlets---------------------------------------------------------------------------INT11-TR-02 172506 1.00 Floor Phyllites with qtz 2.43 1.3 veinlets---------------------------------------------------------------------------INT11-TR-02 172507 1.00 Floor Qtz vein with 4.30 5.5 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-02 172508 1.00 Floor Qtz vein with 16.03 13.1 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-02 172509 1.00 Floor Qtz vein with 13.98 11.8 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-02 172510 1.00 Floor Qtz vein with 10.46 9.2 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-02 172511 1.00 Strike Qtz vein with 17.11 19.7 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-02 172512 1.00 Strike Qtz vein with 11.98 15.3 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-02 172513 1.00 Strike Qtz vein with 29.68 19.5 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-02 172517 1.00 Floor Qtz vein with 32.87 51.5 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-02 172518 1.00 Vertical Phyllites with qtz 3.99 2.9 veinlets---------------------------------------------------------------------------INT11-TR-02 172519 1.00 Vertical Phyllites with qtz 2.81 6.4 veinlets---------------------------------------------------------------------------INT11-TR-03 172524 1.00 Floor Soil with qtz 1.06 3.8 bolders---------------------------------------------------------------------------INT11-TR-03 172531 1.00 Floor Phyllites with qtz 5.78 2.7 veinlets---------------------------------------------------------------------------INT11-TR-03 172532 1.00 Floor Phyllites with qtz 1.47 1.1 veinlets---------------------------------------------------------------------------INT11-TR-03 172533 1.00 Floor Phyllites with qtz 2.45 1.1 veinlets---------------------------------------------------------------------------INT11-TR-03 172534 1.00 Floor Phyllites with qtz 1.10 1.0 veinlets---------------------------------------------------------------------------INT11-TR-03 172535 1.00 Floor Qtz vein with 17.33 9.7 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-03 172536 1.00 Floor Qtz vein with 89.79 41.2 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-03 172537 1.00 Floor Qtz vein with 15.78 20.2 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-03 172538 1.00 Floor Qtz vein with 2.76 3.5 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-03 172539 1.00 Floor Qtz vein with 1.00 1.6 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-03 172540 1.00 Floor Phyllites with qtz 1.58 3.5 veinlets---------------------------------------------------------------------------INT11-TR-03 172541 1.00 Floor Phyllites with qtz 19.93 21.5 veinlets---------------------------------------------------------------------------INT11-TR-03 172542 1.00 Floor Qtz vein with 56.26 19.9 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-03 172543 1.00 Floor Qtz vein with 1.52 3.6 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-03 172547 1.00 Strike Qtz vein with 31.03 32.7 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-03 172548 1.00 Strike Qtz vein with 42.35 less sulphides, galena, than 0.1 aspy, py---------------------------------------------------------------------------INT11-TR-03 172549 1.00 Strike Qtz vein with 2.08 12.3 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-03 172550 1.00 Strike Qtz vein with 5.38 4.4 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-03 172552 1.00 Vertical Qtz vein with 5.35 5.1 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-03 172553 0.50 Vertical Phyllites with qtz 3.15 5.1 veinlets---------------------------------------------------------------------------INT11-TR-03 172554 1.00 Vertical Phyllites with qtz 1.77 1.1 veinlets---------------------------------------------------------------------------INT11-TR-03 172555 0.50 Vertical Phyllites with qtz 1.06 1.5 veinlets---------------------------------------------------------------------------INT11-TR-03 172558 1.50 Vertical Phyllites with qtz 1.02 0.6 veinlets---------------------------------------------------------------------------INT11-TR-04 172565 1.00 Floor Phyllites with qtz 4.52 0.9 veinlets---------------------------------------------------------------------------INT11-TR-04 172580 1.00 Floor Qtz vein with 2.39 1.8 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-04 172581 1.00 Floor Qtz vein with 3.82 16.3 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-04 172586 1.00 Strike Qtz vein with 2.02 6.5 sulphides, galena, aspy, py---------------------------------------------------------------------------INT11-TR-04 172587 1.00 Strike Qtz vein with 2.66 4.5 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-10 59610 1.00 Floor Qtz vein with 3.47 15.6 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-10 59611 1.00 Floor Qtz vein with 4.16 4.0 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-10 59612 1.00 Floor Qtz vein with 106.42 15.9 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-10 59613 1.00 Floor Qtz vein with 131.39 64.5 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-10 59614 1.3 Floor Qtz vein with 8.04 8.6 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-10 59615 1.00 Strike Qtz vein with 8.10 4.7 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-10 59616 1.00 Strike Qtz vein with 1.99 5.5 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-10 59617 1.00 Strike Qtz vein with 98.92 66.4 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-14 59627 1.00 Floor Qtz vein with 2.25 0.3 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-15 59665 1.00 Floor Qtz vein with 2.00 less sulphides, galena, than 0.1 aspy, py---------------------------------------------------------------------------LC11-TR-15 59666 1.00 Floor Qtz vein with 2.47 1.2 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-15 13 2.00 Vertical Phyllites with qtz 62.96 19.2 veinlets---------------------------------------------------------------------------LC11-TR-15 21 2.00 Vertical Phyllites with qtz 3.53 7.8 veinlets---------------------------------------------------------------------------LC11-TR-16 176149 1.00 Floor Phyllites with qtz 2.93 4.9 veinlets---------------------------------------------------------------------------LC11-TR-16 176150 1.00 Floor Qtz vein with 3.16 4.1 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-16 176151 1.00 Floor Qtz vein with 13.55 9.4 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-16 176152 1.00 Floor Qtz vein with 16.52 21.9 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-16 176153 1.00 Floor Qtz vein with 13.24 7.9 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-16 176155 1.00 Floor Phyllites with qtz 1.66 4.2 veinlets---------------------------------------------------------------------------LC11-TR-16 176156 1.40 Floor Qtz vein with 2.48 3.4 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-16 176176 1.00 vertical Phyllites with qtz 2.37 5.7 veinlets---------------------------------------------------------------------------LC11-TR-16 176178 1.00 vertical Phyllites with qtz 6.30 6.2 veinlets---------------------------------------------------------------------------LC11-TR-16 176179 1.00 vertical Phyllites with qtz 10.82 5.6 veinlets---------------------------------------------------------------------------LC11-TR-16 176180 1.00 vertical Phyllites with qtz 8.42 6.4 veinlets---------------------------------------------------------------------------LC11-TR-16 176181 1.00 vertical Phyllites with qtz 9.56 10.6 veinlets---------------------------------------------------------------------------LC11-TR-16 176185 1.00 Strike Qtz vein with 41.57 47.5 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-16 176186 1.00 Strike Qtz vein with 4.30 8.6 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-16 176187 1.00 Strike Qtz vein with 6.25 5.9 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-26 176220 1.00 Floor Qtz vein with 1.99 0.6 sulphides, galena, aspy, py---------------------------------------------------------------------------LC11-TR-26 176232 2.00 Floor Weathered 1.92 26.3 phyllites with qtz fragments---------------------------------------------------------------------------LC11-TR-26 176233 2.00 Floor Weathered 1.58 3.5 phyllites with qtz fragments---------------------------------------------------------------------------LC11-TR-26 176234 2.00 Floor Weathered 2.97 1.4 phyllites with qtz fragments---------------------------------------------------------------------------LC11-TR-26 176235 2.00 Floor Weathered 7.07 0.55 phyllites with qtz fragments---------------------------------------------------------------------------LC11-TR-26 176236 2.00 Floor Weathered 1.78 4.3 phyllites with qtz fragments---------------------------------------------------------------------------LC11-TR-26 176237 2.00 Floor Weathered 2.14 4.6 phyllites with qtz fragments---------------------------------------------------------------------------LC11-TR-26 176238 2.00 Floor Weathered 2.53 3.8 phyllites with qtz fragments---------------------------------------------------------------------------LC11-TR-26 176239 1.00 Floor Weathered 1.61 3.6 phyllites with qtz fragments---------------------------------------------------------------------------LC11-TR-26 176240 1.00 Floor Weathered 13.13 15.6 phyllites with qtz fragments---------------------------------------------------------------------------LC11-TR-26 176241 1.00 Floor Weathered 1.41 5.3 phyllites with qtz fragments---------------------------------------------------------------------------LC11-TR-26 176242 1.00 Floor Weathered 5.03 12.9 phyllites with qtz fragments---------------------------------------------------------------------------Note: Table 2 provides assay results for samples grading 1.0 g/t gold orgreater.
To view the map accompanying this press release please click on the following link: http://media3.marketwire.com/docs/GRR0205.pdf
Qualified Person
John M. Kowalchuk, P.Geo, a geologist and Company qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release on behalf of the Company.
On behalf of the Board,
Kim Evans, CGA, President & CEO
About Golden Reign:
Golden Reign Resources Ltd. is a publicly listed (TSX VENTURE: GRR) mineral exploration company engaged in exploring the San Albino-Murra Property and the El Jicaro Property, both of which are located in Nueva Segovia, Nicaragua.
The Company's land package comprises 13,771 hectares (138 km2) of highly prospective ground. Hundreds of historical mines and workings exist within the Corona de Oro Gold Belt, which is approximately 3 kilometres wide by 20 kilometres long and spans the entirety of the Company's land package.
For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com.
Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available.
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 release.
Contacts:
Golden Reign Resources Ltd.
Kim Evans, CGA
President & CEO
(604) 685-4655 or Toll Free: 1-888-685-4655
(604) 685-4675 (FAX)
www.goldenreign.com
