Golden Touch Is About to Conclude a Successful First Phase of Drilling on Its Gold Project in Albania
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/17/11 -- Golden Touch Resources Corp. ("Golden Touch" or the "Company") (TSX VENTURE:GOT)(FRANKFURT:0GT) is pleased to announce the Company has nearly completed the first phase of drilling on its gold project in Albania. The Company has completed 21 holes to their targeted depth and has only 2 more holes planned to complete the first stage of drilling.
The assay results of the first 8 holes drilled to their targeted depth have been received and the results from 5 of the holes are considered highly significant. Over 1000 samples for a further 8 holes have been sent to ALS Laboratories in Romania for assaying. The samples from the remaining 5 holes completed to date are currently being prepared for assaying.
The first phase of drilling is evaluating an area where previous drilling and surface sampling located significant grades of gold mineralisation. The gold mineralisation occurs within a broad tectonic shear zone hosted by mafic volcanics.
The drill assays from 5 holes has successfully defined a gold mineralisation envelope, over a strike length of about 100 metres with an average downhole intercept of 28 metres at a grade of 1.67 g/t gold (Au). The mineralisation is open both along strike and to depth.
The results suggest a concentration of gold grades both near the top and the base of the envelope.
The results at the top of the envelope are as follows:
Hole 5: 9 metres @ 5.1 g/t Au from 63 to 71 metres;
Hole 8: 7 metres @ 4.0 g/t Au from 47 to 51 metres;
Hole 10: 2 metres @ 8.0 g/t Au from 40 to 42 metres;
Hole 11: 6 metres @ 7.0 g/t Au from 24 to 30 metres;
Hole 12: 8 metres @ 2.3 g/t Au from 39 to 47 metres.
Average intersection at the top of the envelope: 6.4 metres @ 4.7 g/t Au.
The results at the base of the envelope are as follows:
Hole 5: 4 metres @ 3.2 g/t Au from 90 to 94 metres;
Hole 8: 4 metres @ 5.5 g/t Au from 60 to 64 metres;
Hole 10: 3 metres @ 2.2 g/t Au from 62 to 65 metres;
Hole 11: 5 metres @ 0.8 g/t Au from 49 to 54 metres;
Hole 12: 14 metres @ 1.5 g/t Au from 55 to 69 metres.
Average intersection at the base of the footwall: 6.0 metres @ 2.2 g/t Au.
The President of Golden Touch Mr. Rob Murdoch stated that "The smooth progress of drilling at Gjazuj is a credit to the professionalism of the Albanian drilling contractor and geologists involved. Certainly the results to date are highly encouraging and once the assaying of the remaining holes have been received and evaluated, we will commence a second phase of drilling."
Further background information on the gold project can be obtained from a National Instrument 43-101 ("NI 43-101") compliant technical report on the Livadheza Gold Project (EC 1124) prepared by Ian Mathison, Bsc (Hons Geol), MAusIMM, as posted under the Company's profile on SEDAR at www.sedar.com.
Robert Murdoch, 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.
Rob Murdoch, Chairman and President
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