Golden Touch to Commence Drilling on Its North East Albanian Platinum Project
15 11월 2011 - 11:30PM
Marketwired
Golden Touch Resources Corp. ("Golden Touch" or the "Company") (TSX
VENTURE:GOT)(FRANKFURT:0GT) is pleased to announce that the Company
will immediately commence a first round diamond drilling program to
evaluate the potential of its platinum project in North Eastern
Albania.
The start of drilling has been held up for the past few weeks
awaiting the renewal of Exploration Permit EP 1376, which covers
the Company's platinum prospect.
EP 1376 has now been renewed under the recently introduced new
Mining Laws of Albania. Under the new law exploration permits are
granted for up to three, one year periods, the annual renewal being
subject to a review of the exploration activity undertaken. The EP
1376 renewal document suggests, that the Company has already met
the expenditure commitments required for this project.
The upcoming platinum drilling program will evaluate ultramafic
rocks in which zones of anomalous platinum group elements (PGE) and
chromite mineralisation are known to occur.
Surface sampling of three separate and parallel trenches by the
Company over an area of outcrop within EP 1376 (known as Bregu I
Bibes) returned the following significant platinum
intersections:
-- 14m @ 1.5 g/t Pt
-- 11m @ 1.9 g/t Pt
-- 5m @ 2.1 g/t Pt
Mineralogical work carried out by ALS Mineralogy on samples from
the trenches showed that platinum (Pt) comprises around 80% of the
all the platinum group elements (PGE's), with lesser amounts of
palladium (Pd) and traces of rhodium (Rh), ruthenium (Ru), iridium
(Ir) and osmium (Os) also occurring.
Grab samples indicate that up to 27% chromite (Cr2O3) are
associated with the PGE's.
The first round drilling will start by evaluating the area down
dip of the trench intersections at Bregu I Bibes and then gradually
evaluate an area extending north east from the Bregu I Bibes,
towards a second anomalous platinum outcrop at Pode. The area of
interest has a strike length of approximately 1 kilometre.
To view the map associated with this press release, please
visit: http://media3.marketwire.com/docs/got-1115-map.jpg.
The area of interest was investigated by the Albanian Geological
Survey in the 1980's. Despite the fact that considerable drilling
was undertaken at that time, and that there are unconfirmed reports
of mineralisation up to 27 g/t Pt being encountered, unfortunately
the location of many of the assays and holes cannot be verified,
and there is no core remaining for independent evaluation. As a
result, the historical work does not meet NI 43-101 standards,
requiring the upcoming drilling program to evaluate the commercial
potential of the project from scratch.
The first five drill holes will focused on evaluating the area
down dip from the anomalous trench results recorded by the Company
at the Bregu I Bibes outcrop.
Golden Touch will use the same contractor for the first round
platinum drilling, as recently completed the drilling at the
Company's gold project. The Company has been impressed with the
quality and professionalism of the work undertaken by this
contractor.
The drilling contractor has already commenced mobilising to site
and is expected to begin drilling very soon, with the objective of
completing the first round before the onset of winter weather.
Golden Touch will report the results of the drilling as they are
received.
Robert Murdoch, Chairman of Golden Touch Resources, a Fellow of
the Australasian Institute of Mining and Metallurgy and 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
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.
Contacts: Golden Touch Resources Corp. Rob
Murdochrob@goldentouchresources.com Golden Touch Resources Corp.
Tom Corcoran Corporate Development (604)
248-5175tom@goldentouchresources.comwww.goldentouchresources.com
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