Welcome!

Microsoft Cloud Authors: John Basso, Liz McMillan, Pat Romanski, Elizabeth White, Mihai Corbuleac

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
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
“delaPlex Software provides software outsourcing services. We have a hybrid model where we have onshore developers and project managers that we can place anywhere in the U.S. or in Europe,” explained Manish Sachdeva, CEO at delaPlex Software, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
With 15% of enterprises adopting a hybrid IT strategy, you need to set a plan to integrate hybrid cloud throughout your infrastructure. In his session at 18th Cloud Expo, Steven Dreher, Director of Solutions Architecture at Green House Data, discussed how to plan for shifting resource requirements, overcome challenges, and implement hybrid IT alongside your existing data center assets. Highlights included anticipating workload, cost and resource calculations, integrating services on both sides...
"We are a well-established player in the application life cycle management market and we also have a very strong version control product," stated Flint Brenton, CEO of CollabNet,, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.