Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 1, 2012) – Golden Touch Resources Corp. (“Golden Touch” or the “Company”) (TSX VENTURE:GOT)(FRANKFURT:0GT) is pleased to announce that a significant number of high priority drill targets have been identified by induced polarisation geophysical surveys at the Rubik Gold Project (PEL 1124). It is interpreted that high resistivity responses are related to silicified shear zones and shallow intrusves and that high chargeability is related to sulphide mineralization in both shear zones and shallow intrusives.
Drilling in PEL 1124 during 2011 was centred on the Gjazuj Prospect area, an area of stream sediment gold anomalism where the Albanian Government had previously undertaken drilling and small scale mining. The results of GOT’s drilling were very encouraging with nine (9) steeply dipping, gold bearing, greenstone hosted, shear zones (averaging 4.0 metres at 2.7 g/t gold) being intersected. Given there are a further five (5) known stream sediment gold anomalous areas with the PEL 1124 tenement, assessment of these was afforded a high priority. Induced polaraisation (IP) surveying involving resistivity and chargeability measurements was considered to offer the best method of rapid assessment.
IP lines, each orientated N-S, 1 kilometre in length and spaced at 200 metres, were established to cover four (4) of the remaining stream sediment gold anomalies to the east of the drilled area. The program included, IP chargeability and resistivity supplemented by a program of ground magnetic surveying, geological mapping and surface sampling along the survey grid lines. Surveying was undertaken over a total of 26 lines using the poly-pole method as this technique has deeper and stronger signal input. The magnetic traversing was undertaken at 10m intervals. Implementation of the survey was contracted to Turkish company, CFT Engineering Ltd. Co.
The IP survey revealed the presence of very large intrusion-like anomalous bodies with very high IP chargeability responses. It is interpreted that these anomalies are associated with silicified shear zones adjacent to possible major igneous intrusive bodies. Numerous high resistivity and IP chargeability anomalies offer high priority targets for drill testing as the anomalies may reflect areas of locally more abundant quartz and sulphide mineralisation.
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The magnetic results have provided important information regarding lithological boundaries and the structural regime (eg faulting).
The 2012 program will include drill testing of the high priority targets and possibly further IP surveying.
Ken Chapple, President of Golden Touch, a Fellow of the Australian Institute of Geoscientists and hence a qualified person under the meaning of Canadian National Instrument 43-101, is responsible for the technical content of this news release.
On Behalf of the Board of Directors
Golden Touch Resources Corp.
Ken Chapple, President & CEO
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 news release.
