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Goldrush Resources hits 3.16 g/t gold over 12 metres at Ronguen deposit

Published: 08:43 31 Jul 2012 EDT

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Goldrush Resources (CVE:GOD) Tuesday unveiled assay results from 13 trenches totalling 1,283.3 linear metres completed in early 2012 on its Ronguen gold deposit in Burkina Faso, West Africa.

The Canadian mineral explorer is focused on gold exploration in West Africa, where the company has discovered, and is currently expanding and defining the Ronguen gold deposit.

The trenching program was designed to complement a 10,140 metre fill-in drilling program, which included 18 core and 98 reverse circulation drill holes on the Ronguen deposit.

Notable core hole results reported Tuesday include 1.91 grams per tonne (g/t) gold over 24 metres, including 3.16 g/t gold over 12 metres in trench KGRTR11-1185E, and 1.81 g/t gold over 18 metres in trench KGRTR11-1105E.

In addition, 1.21 g/t gold over 17.3 metres and 1.66 g/t gold over 11 metres was returned in trench KGRTR11-1265E (S), and 1.04 g/t gold over 16 metres was returned in trench KGRTR11-785E.

Goldrush said most trenches were located on the eastern grid of the Ronguen main zone, except for trenches KGRTR11-720E and KGRTR11-785E which were located on the western grid.

Trenches KGRTR11-1465E and KGRTR11-1265E were located near the current northeast corner of the identified mineralization of the Ronguen main zone and contained only anomalous values, said the company.

The company noted that the latest trenching results were received too late for inclusion in its updated resource estimate, released at the end of May, but will be included in the project database for future estimates.

Goldrush said it continues to gather baseline environmental and social data for a feasibility study of Ronguen, and is preparing plans for a fall exploration program to explore several high priority exploration targets near the deposit.

The company noted that additional mineralization targets are located on the potential extension of the south zone, in the main zone and underexplored areas of potential on its Kongoussi 1 and Tikare permits – where the Ronguen deposit is located.

In May, the company released an updated resource estimate of 8,847 million tonnes at a grade of 1.22 g/t gold, or 332,000 ounces of measured and indicated, and an inferred resource of 890,000 tonnes at a grade of 1.85 g/t gold or 52,000 ounces.

The company has stated that the next step at Ronguen will be to expand the size of the resource, with a target of 1 million plus ounces.

Ronguen is located 100 kilometres north of the capital city of Ouagadougou, 45 kilometres east of Cluff Gold’s (LON:CLF) (TSE:CFG) Kalsaka heap leach gold mine and 10 kilometres northwest of High River Gold’s (TSE:HRG) Bissa gold mine, which is currently in development.

The deposit is close to paved highways and the Lac Bam water supply and is within three kilometres of the southern boundary of the regional centre of Kongoussi, which has an approximate population of 45,000.

Aside from Ronguen, Goldrush also holds the 244-square-kilometre Ouavousse permit in central Burkina Faso, which is located around 80 kilometres south of High River’s Taparko gold mine.

In March, the miner announced results from initial drilling on seven previously-identified gold-bearing areas on the permit, uncovering an open mineralized structure over a strike length of 160 metres.

The company has said that the two permit areas in Burkina Faso that hold the most promise is the Pompoi permit - located just two kilometres from the eastern border of the Yaramoko permit held by Roxgold (CVE:ROG) and Riverstone Resources (CVE:RVS) - and the 56 square kilometre Midebdo permit, which is five kilometres to the east of Ampella Mining's (ASX:AMX) Konkera deposit.

Goldrush's strategy is to explore its host of early-stage Burkina Faso permits, with the hope that they will turn out as successful as Ronguen.

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