VANCOUVER, Sept. 25 /PRNewswire-FirstCall/ -- Golden Peaks Resources Ltd. (TSX: GL) announces new results from the T-11 zone, La Fortuna project, Chubut province, Argentina. High grade gold mineralization was intersected in holes LF-92, LF-98 and LF-105 (Table 1) which were drilled on section with the discovery hole LF-11 (5.72 g/t gold over 38.00 meters). Additional drill results from the T-11 and other zones are pending.
------------------------------------------------------------------------- Table 1 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Hole # From To Width Au g/t Note ------------------------------------------------------------------------- LF-11(x) 3.00 41.00 38.00 5.72 ------------------------------------------------------------------------- incl 19.50 29.80 10.30 10.90 ------------------------------------------------------------------------- incl 23.35 28.50 5.15 18.34 ------------------------------------------------------------------------- incl 33.53 39.55 6.02 10.08 ------------------------------------------------------------------------- ------------------------------------------------------------------------- LF-92(xx) 93.00 134.00 41.00 1.7 50 m under LF-11 intersection ------------------------------------------------------------------------- incl 105.70 112.00 6.30 8.10 ------------------------------------------------------------------------- incl 107.70 112.00 4.30 11.17 ------------------------------------------------------------------------- ------------------------------------------------------------------------- LF-98(xx) 82.00 102.00 20.00 2.68 30m under LF92 intersection ------------------------------------------------------------------------- incl 85.00 89.00 4.00 4.00 ------------------------------------------------------------------------- and 99.00 102.00 3.00 7.12 ------------------------------------------------------------------------- ------------------------------------------------------------------------- LF-105(xx) 83.50 138.50 55.00 2.45 40m under LF-98 intersection ------------------------------------------------------------------------- incl 83.50 91.00 7.50 3.65 ------------------------------------------------------------------------- incl 87.50 91.00 3.50 7.02 ------------------------------------------------------------------------- incl 89.50 91.00 1.50 12.66 ------------------------------------------------------------------------- ------------------------------------------------------------------------- incl 105.50 110.00 4.50 8.44 ------------------------------------------------------------------------- incl 105.50 107.50 2.00 15.14 ------------------------------------------------------------------------- ------------------------------------------------------------------------- incl 124.00 138.00 14.00 3.80 ------------------------------------------------------------------------- incl 131.50 138.00 6.50 5.66 ------------------------------------------------------------------------- incl 135.00 138.00 3.00 8.66 ------------------------------------------------------------------------- ------------------------------------------------------------------------- LF-107(xx) 160.00 171.00 11.00 0.10 70m under LF-105 intersection ------------------------------------------------------------------------- (x) Previously released (Reference: News Release of February 16, 2006). (xx) Drill hole data for the holes reflect down hole core lengths. True widths cannot be reliably estimated at this time.
Says Chairman Scott Emerson, "The gold intersections in holes LF-11, LF-92, LF-98 and LF-105 are very impressive. Drill testing for extensions of this mineralization to the southeast will be a priority in the up coming round of drilling."
The high grade mineralization in this section has been traced from surface to a vertical depth of approximately 160 meters. The mineralization is open at depth and on strike to the southeast for a minimum of 250 meters. Hole LF-107 is interpreted to have undercut the plunge of the mineralization at a vertical depth of approximately 190 meters.
The broad zone of gold mineralization in LF-105 includes five separate high grade zones characterized by carbonate-quartz veining and/or strong pyrite veining. Similar high grade zones of veining are present in the other holes. These high grade zones are developed in wide zones of strong prophylitic alteration, tectonic milling and sulphidation and indicate multi-phase development of the gold mineralization.
The mineralization is close to surface as the hill slope is relatively narrow. The T-11 zone is curvilinear in the vertical and horizontal planes and additional high grade shoots can be expected.
The style of mineralization in the G and T-11 zones is similar. These zones are approximately 800 meters apart and on either side of the Valley Fault and may be rooted in the fault.
The drill contractor is Connors Argentina S.A. Split/sawn core samples are assayed by Alex Stewart (Assayers) Argentina S.A., a certified ISO 9002 laboratory. In accordance with the Company's QC/QA policy all high grade samples are being check assayed at a different laboratory.
This press release has been reviewed and approved by Dr. Kieran Downes, P.Geo., President of Golden Peaks Resources Ltd. and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration programs are being carried out.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
CONTACT: Media Information, contact: Scott Emerson, Chairman and Director,
