Welcome!

Microsoft Cloud Authors: Andreas Grabner, Stackify Blog, Liz McMillan, David H Deans, Automic Blog

News Feed Item

Golden Reign Outlines High-Grade Initial Resource of 95,000 Indicated Gold Equivalent Ounces and 805,000 Inferred Gold Equivalent Ounces at San Albino Mine Area, Nicaragua

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/20/12 -- Golden Reign Resources Ltd. (TSX VENTURE:GRR) (the "Company" or "Golden Reign") is pleased to announce an initial mineral resource estimate from the first 15 months of drilling completed the San Albino Mine area of its San Albino-Murra Property (the "Property"), Nicaragua.

Highlights:


--  Indicated resources of 95,000 ounces gold equivalent at 8.47 g/t
    contained in 348,000 tonnes using 0.5 g/t open pit and 1.5 g/t
    underground gold equivalent cut-offs 
--  Inferred resources of 805,000 ounces gold equivalent at 7.43 g/t
    contained in 3,371,000 tonnes using 0.5 g/t open pit and 1.5 g/t
    underground gold equivalent cut-offs 
--  Mineral resources are at shallow depth, within approximately 300 metres
    from surface 
--  Potential to add resources through additional in-fill and step-out
    drilling. An Exploration Target beyond the resource estimate (along
    strike and down dip) has been identified with an estimated 3 to 5
    million tonnes at a grade between 6 to 10 grams gold equivalent per
    tonne. The potential quantity and grade of the Exploration Target is
    conceptual in nature, there has been insufficient exploration to define
    a mineral resource, and it is uncertain if further exploration will
    result in discovery of a mineral resource

Only 0.6 square kilometres of the 2 square kilometre San Albino Mine area has been drill tested. All mineralized zones remain open at depth and along strike in both directions.

Golden Reign is very encouraged by this initial resource calculation, which provides a cornerstone from which it can grow, adding additional potential resources in the San Albino Mine area and from numerous regional targets currently being assessed within its much larger 138 square kilometre land package.

Since first optioning the Property on June 26, 2009, the Company has made rapid progress, drilling 15 out of the 36 months (41%) spent working on the project. In addition, Golden Reign has successfully:


--  earned an initial 80% interest in and to the Property approximately 1.5
    years in advance 
--  acquired the remaining 20% interest in and to the Property 
--  outlined an initial resource calculation via exploration drilling in an
    area substantially untested by prior drilling or other modern
    exploration techniques.

Resources


----------------------------------------------------------------------------
       Cut-off                                                        
         grade                                                              
          (g/t Classifi-              Au      Au    Ag      Ag  AuEq    AuEq
         AuEq)  cation      Tonnes (g/t)  ounces (g/t)  ounces (g/t)  ounces
----------------------------------------------------------------------------
Open-      0.5 Indicated   247,000  9.00  71,000  10.8  86,000  9.18  73,000
 pittable  0.5 Inferred    682,000  8.25 181,000  10.7 234,000  8.42 185,000
Under-     1.5 Indicated   101,000  6.59  21,000   9.7  31,000  6.76  22,000
 ground    1.5 Inferred  2,689,000  7.00 605,000  10.6 912,000  7.17 620,000
----------------------------------------------------------------------------
Mineral Resource Estimate Notes and Parameters:                             
 1. Mineral Resource estimates are based upon an October 31, 2012 two year  
    trailing average gold price of US$1,592 per ounce, a 95% recovery rate, 
    bulk density of 2.8 t/m3, open-pit mining costs of US$3 per tonne, pit  
    slopes of 45 degrees, underground mining costs of US$48 per tonne,      
    milling costs of US$20 per tonne, and general and administrative costs  
    of US$5 per tonne;                                                      
 2. Mineral Resources are not Mineral Reserves and do not have demonstrated 
    economic viability.There is no certainty that all or any part of the    
    Mineral Resources estimated will be converted into Mineral Reserves;    
 3. The estimate of Mineral Resources may be materially affected by         
    environmental, permitting, legal, title, taxation, socio-political,     
    marketing, or other relevant issues, although the Company is not aware  
    of any such issues;                                                     
 4. The quantity and grade of reported Inferred resources in this estimation
    are uncertain in nature and there has been insufficient exploration to  
    define these Inferred resources as an Indicated or Measured mineral     
    resource and it is uncertain if further exploration will result in      
    upgrading them to an Indicated or Measured mineral resource category.   
 5. Gold Equivalent was calculated on the basis of 1 gram gold = 60 grams   
    silver.                                                                 

The San Albino resource model consists of three flatly dipping, high grade, narrow vein systems over a strike length of 850 metres, down dip extension of 925 metres, with a minimum true width of one metre and average true width of 2.6 metres. Grade capping varied from no capping to 100 g/t depending on the vein system. All silver assays were capped at 100 g/t. Inverse distance cubed grade interpolation was on 2m x 2m x 6m blocks utilizing Gemcom. 166 of 201 drill holes and trenches on the Property were utilized in the resource estimate calculation.

The resource estimate was completed by P & E Mining Consultants Inc. ("P&E") of Brampton, Ontario, Canada. P&E prepared a mineral resource estimate for the San Albino Mine area in accordance with the Canadian Securities Administrators ("CSA") National Instrument 43-101 ("NI 43-101") and resources have been estimated using the Canadian institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.

The Mineral Resource estimates in this news release were prepared by Eugene Puritch, P.Eng. and Antoine Yassa, P.Geo. of P&E, each an independent qualified person, as defined by NI 43-101. Mr. Puritch has reviewed and approved the contents of this news release.

An independent NI 43-101 compliant technical report relating to the initial Mineral Resource estimate for the San Albino Mine area will be filed on SEDAR within 45 days of this news release.

Quality Assurance

The Company's rigorous QA/QC program utilizes best industry practices, involving insertion of appropriate standards, blanks and field duplicates. All drill holes were sampled on at most a 1.0 metre interval within the mineralized zones, with drill core split on site and one half then being transported to the Inspectorate America Corporation ("Inspectorate"), a certified USA based laboratory (UKAS, NAMAS, STERLAB, ISO 17025), preparation facility in Managua. The samples were then transferred to Inspectorate's analytical laboratory in Richmond, British Columbia, Canada. Duplicate samples were also sent to Acme Analytical Laboratories Ltd. in Vancouver, British Columbia, Canada, for comparative analysis. Gold and silver analyses were carried out by fire assay. In addition, for samples assaying greater than 1 g/t gold, check assays were also carried out by the metallic screen method to verify high-grade sample assays obtained by fire assay and to minimize gold nugget effect.

Golden Reign's 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. Both properties are held 100% by the Company, with no NSR ("Net Smelter Royalty") other than that payable to the Nicaraguan government pursuant to existing mining laws.

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

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
SYS-CON Events announced today that Datanami has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datanami is a communication channel dedicated to providing insight, analysis and up-to-the-minute information about emerging trends and solutions in Big Data. The publication sheds light on all cutting-edge technologies including networking, storage and applications, and the...
SYS-CON Events announced today that EnterpriseTech has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. EnterpriseTech is a professional resource for news and intelligence covering the migration of high-end technologies into the enterprise and business-IT industry, with a special focus on high-tech solutions in new product development, workload management, increased effi...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
SYS-CON Events announced today that Ayehu will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara California. Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infras...
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
In this presentation, Striim CTO and founder Steve Wilkes will discuss practical strategies for counteracting fraud and cyberattacks by leveraging real-time streaming analytics. In his session at @ThingsExpo, Steve Wilkes, Founder and Chief Technology Officer at Striim, will provide a detailed look into leveraging streaming data management to correlate events in real time, and identify potential breaches across IoT and non-IoT systems throughout the enterprise. Strategies for processing massive ...
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organi...
SYS-CON Events announced today that Cloud Academy named "Bronze Sponsor" of 21st International Cloud Expo which will take place October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara, CA. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud com...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...
SYS-CON Events announced today that TMC has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo and Big Data at Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Global buyers rely on TMC’s content-driven marketplaces to make purchase decisions and navigate markets. Learn how we can help you reach your marketing goals.
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
"MobiDev is a Ukraine-based software development company. We do mobile development, and we're specialists in that. But we do full stack software development for entrepreneurs, for emerging companies, and for enterprise ventures," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists looked at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deliver...
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 21st Int\ernational Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to focus on the core of their ...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), provided an overview of various initiatives to certify the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldwide re...