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Gold Reach Resources Ltd. (GRV:CA)
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Gold Reach Resources (TSX-V: GRV) is a well funded Canadian-based mineral exploration and development company focused on advancing its large Ootsa Cu-Au porphyry deposit in British Columbia, Canada.
Ootsa Property
Highlights
- Large Cu-Au porphyry system strategically located adjacent to the Huckleberry Mine
- Road accessible and close to infrastructure
- A new discovery at West Seel contains higher grade mineralization that is open for expansion The last hole drilled in 2011 encountered 566.7 m grading 0.51% Cu Eq and ended in mineralization
- Multiple deposits identified, all showing good potential for significant expansion
- 2012 Exploration will focus on expanding the higher grade West Seel zone
Introduction
Gold Reach Resources owns a 100% interest in the 22,056 hectare Ootsa Property located in the Omineca Mining Division of north-west British Columbia. The Project is 120 kilometres by gravel road from the town of Houston and is located on the south side of Tahtsa Reach. The claims contain a network of all-weather logging roads providing excellent road access throughout the claim block. The center of the Ootsa Property is 8 kilometres southeast of the operating Huckleberry Porphyry Cu-Mo Mine which is owned by a consortium of Japanese companies and Imperial Metals Corporation.
Location of the Ootsa Property
The Ootsa property contains 3 known mineralized deposits, the Seel deposit, the Ox deposit, and the Damascus Silver Vein. In 2011 a new zone of mineralization was discovered on the west side of the Seel deposit and this zone is termed West Seel. The Seel deposit contains porphyry Cu-Au and porphyry Cu-Au-Mo-Ag mineralization, the Ox deposit contains porphyry Cu-Mo mineralization, and the Damascus Silver Vein contains silver and base metals.
Known mineralized deposits on the Ootsa Property and the adjacent Huckleberry Mine.
The Ootsa property contains moderate to gentle topography and the porphyry deposits on the claims are being explored as near-surface open-pit targets. Both the Seel and Ox deposits contain NI 43-101 compliant resources, and both show excellent potential for significant resource expansion with further exploration.
Current NI 43-101 compliant resources
| Seel Porphyry Indicated and Inferred Resources at 0.2% Cu Eq Cut off | ||||||
|---|---|---|---|---|---|---|
| Category | Tonnes | Grade > Cut-off | ||||
| Cu (%) | Au (g/t) | Mo (%) | Ag (g/t) | CuEq (%) | ||
| Indicated | 28,130,000 | 0.22 | 0.21 | 0.007 | 1.10 | 0.40 |
| Inferred | 214,780,000 | 0.17 | 0.13 | 0.017 | 2.17 | 0.33 |
Ox Porphyry Inferred Resources at $20 US Eq Cut off
| Category | Tonnes | Grade > Cut-off | ||||
|---|---|---|---|---|---|---|
| Cu (%) | Au (g/t) | Mo (%) | Ag (g/t) | CuEq (%) | ||
| Inferred | 16,130,000 | 0.30 | - | 0.04 | - | 0.46 |
Contained metals
Ootsa Property Contained Metals
| Deposit | Category | |||||
|---|---|---|---|---|---|---|
| Cu lbs | Au oz | Mo lbs | Ag oz | CuEq lbs | ||
| Seel | Indicated | 136,435,275 | 189,924 | 4,341,122 | 994,841 | 248,064,137 |
| Seel | Inferred | 804,965,039 | 897,694 | 80,496,504 | 14,984,582 | 1,562,579,193 |
| Ox | Inferred | 106,681,689 | 14,224,225 | 163,578,589 | ||
Exploration Summary
2012 Exploration Plans for the Ootsa Project British Columbia
Gold Reach is planning a $5 million dollar exploration program at the Ootsa Property in 2012. This program will commence in May and continue to at least October and will be run out of the company’s exploration camp that is set up on the Ootsa Property. The proposed 2012 exploration program is fully permitted and contractors and staffing are in place.
The 2012 exploration program will include:
- A minimum of 20,000 metres of diamond drilling
- Advanced metallurgical studies
- Lidar (detailed surface topography) and high resolution air photographs
- Trenching of priority exploration targets
- Mapping, prospecting, and soil sampling
- Additional Induced Polarization geophysical surveying
Full Force Diamond Drilling Ltd. has been awarded the drilling contract and will utilize 2 diamond core rigs that will operate 24 hours a day.
Drilling will initially focus on delineating the West Seel deposit which was discovered near the end of the 2011 drilling program. The last hole drilled during the 2011 drilling program at West Seel returned 566.7 metres grading 0.54% Cu Eq and the hole ended in mineralization. The cross section below through the West Seel deposit shows holes S11-98 and S11-100. The large mineralized zone intersected by these holes remains open up dip, at depth, and to the southwest. A series of proposed holes (dashed lines) spaced roughly 100 metres apart are illustrated on the section below, and are designed to trace the mineralized zone to surface, extend the mineralized zone to depth, and determine the southwest extent of mineralization. The majority of drilling during the 2012 exploration program will focus on the West Seel deposit.
Cross section through the West Seel deposit showing a few of the proposed holes for 2012.
The zone of higher grade mineralization at West Seel is illustrated in the Figure below. Grades above 0.5% Cu Eq. are shown in red and purple. The higher grade zone remains open for expansion to the west, south, north, between existing holes, and up dip toward surface. The figure below indicates a trend of increasing grade with depth. Once the boundaries of the zone have been defined at least 2 deep holes, over 1000 m deep, will be drilled into the zone to see if the observed trend of increasing grades with depth continues.
3D-Voxel model looking north showing Cu Eq. grades from the drill hole database. The large zone of higher grade mineralization on the bottom left (red and purple) is the recently discovered West Seel zone which remains open for expansion.
Some drilling is being planned at the nearby Ox porphyry to see if the Ox resource can be expanded to the northwest and to depth, and some drilling is allocated to test new targets on the Ootsa claim block.
The 2012 Ootsa exploration program will also include a substantial surface exploration program including property scale mapping and surface sampling, soil sampling, trenching, and induced polarization geophysics.
GRV:CA
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