Click here to close now.




















Welcome!

Microsoft Cloud Authors: Elizabeth White, Adine Deford, the Editor, Michael Krems, Xenia von Wedel

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
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps 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 opportunity. Submit your speaking proposal today!
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on demos and comprehensive walkthroughs.
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so they don't have to be replaced and are instantly converted to become smart, connected devices.
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts, GM of Platform at FinancialForce.com, will discuss the value of business applications on wearable ...
The 3rd International WebRTC Summit, to be held Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 15th International Cloud Expo, 6th International Big Data Expo, 3rd International DevOps Summit and 2nd Internet of @ThingsExpo. WebRTC (Web-based Real-Time Communication) is an open source project supported by Google, Mozilla and Opera that aims to enable bro...
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing these ideas and some early experiments performed in the Kurento open source software community in areas ...
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th 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 an...
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.