VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/08/11 -- Gold Finder (the "Company") ("Gold Finder") (TSX VENTURE: GFN) is pleased to announce that it has intersected significant high grade gold mineralization from its recently completed Phase 3 diamond drilling program at the Golden Rose Property.
The drilling program, which consisted of 625 m in 2 diamond drill holes, tested a chargeability anomaly identified from a recently completed down hole induced polarization survey.
Diamond drill hole GR11-43 is located 25 m south of GR10-42. It was drilled at an azimuth of 180 degrees and dip of -50 degrees. Diamond drill hole GR11-44 is located 20 m east of GR10-42 and was drilled at an azimuth of 180 degrees and dip of -50 degrees. GR10-42 was previously drilled at an azimuth of 180 degrees and dip of -50 degrees.
Final assay results for both drill holes are provided below. Results correlate well with earlier reported drill holes, for example, drill hole GR10-42 returned 5.10 m averaging 15.62 gpt Au and 2.60 m averaging 70.05 gpt Au including 0.30 m of 543.0 gpt Au (see press release dated January 13th, 2011). Note that the lengths reported are drill intersected core lengths and do not represent true widths.
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Hole Number From (m) To (m) Length (m) Au (g/t)
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GR11-43 159.00 163.50 4.5 19.76
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including 159.00 162.00 3.0 29.05
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184.35 185.25 0.9 45.00
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GR11-44 211.80 213.00 1.2 9.85
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216.00 217.60 1.6 5.89
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246.00 247.50 1.5 7.83
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262.50 265.50 3.0 3.16
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including 264.00 265.50 1.5 4.45
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Gold Finder has implemented a QA/QC program which includes the insertion of standards and blanks to ensure lab integrity. After being logged, samples of half core were transported by GFN personnel to ALS Chemex's processing facility located in Sudbury, Ontario.
CEO David Greenway said: "Gold Finder continues to intersect significant results with its latest drill programs. We will continue to evaluate the gold system at Golden Rose. We are also excited about the target to the south of the current drilling that represents a second unit of iron formation with an associated historical chargeability anomaly that remain to be tested. The recent geophysical results completed by Gold Finder have proved to correlate well with gold mineralization."
ABOUT GOLD FINDER EXPLORATIONS LTD.
Gold Finder Explorations Ltd. is a Canadian resource company, currently trading on the TSX Venture Exchange under the symbol GFN.V, focused on growth through targeting advanced exploration projects. Gold Finder currently holds an interest in two mineral projects being the Golden Rose project located at Emerald Lake, Northern Ontario and the Crescent Mine located in the Silver Lake area of the State of Idaho. For more information about the Company, please visit: www.goldfinder.ca.
Joerg Kleinboeck, V.P. Exploration for Gold Finder Explorations, is the designated qualified person responsible for the preparation of this news release.
On behalf of the board of Directors,
David Greenway, President and CEO
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Acqua Capital Group
John Bevilacqua
1-604-721-3000
info@acquacapitalgroup.com
