|By Marketwired .||
|January 24, 2013 02:57 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/24/13 -- Gold Reach Resources Ltd. (TSX VENTURE:GRV) (Gold Reach and/or the Company) is pleased to announce that it has signed a Letter of Understanding (LOU) with the Cheslatta Carrier Nation for exploration at the company's 100% owned Ootsa Property located adjacent to the producing Huckleberry Mine south of Smithers, British Columbia. The results of 3 holes drilled into a large geophysical anomaly located 4.5 km NE of the Seel deposit are also reported.
Letter of Understanding
The Letter of Understanding outlines the terms for a respectful and cooperative business relationship between Gold Reach and the Cheslatta Carrier Nation while exploration is conducted at the Ootsa Property. The formal agreement is a critical step in securing access to the area and removing project risk for the Company and at the same time defines significant opportunities for the Cheslatta Nation.
Dr. Shane Ebert, President of Gold Reach, stated, "We are very pleased to have formalized the great working relationship that exists between the Company and the Cheslatta Carrier Nation. Since 2011 Cheslatta personnel have been a key part of our exploration team at Ootsa and their tremendous efforts have helped us advance the project in a timely and cost effective manner. The ongoing support of the Cheslatta Carrier Nation is a major milestone for our project moving forward."
Chief Richard Peters of the Cheslatta Nation, stated, "The Cheslatta Nation has had an excellent working relationship with Gold Reach for 3 years now and we are gearing up for another very productive year. We welcome Gold Reach into our territory and look forward to working with Gold Reach to advance the Ootsa Project."
Final Three Drill Holes
Assay results for 3 holes (holes OxE-1, 2, and 3) testing a large induced polarization geophysical anomaly located 4.5 kilometres northeast of the Seel deposit have been received. Hole OxE12-1 tested the southern part of the geophysical anomaly and was oriented toward the south at a dip of -50 degrees and drilled to a total depth of 536.4 metres. Hole OxE12-2 was drilled from the same pad as OxE12-1 and oriented toward the northwest at a dip of -50 degrees and drilled to a total depth of 518.2 metres. Hole OxE12-3 was located on the west side of the geophysical anomaly and drilled toward the east at a dip of -50 degrees and to a total depth of 527.3 metres.
All 3 holes encountered intense clay alteration containing 2 to 7% pyrite over their entire lengths, demonstrating the area contains a very large zone of strong hydrothermal alteration. The abundant pyrite encountered accounts for the strong geophysical response. All 3 holes encountered significant geochemical anomalies. OxE12-1 encountered 31.8 metres grading 3.56 g/t silver from 12.2 to 44 metres depth and 25.2 metres grading 0.40% zinc with elevated antimony, silver, arsenic, manganese and gold from 35.8 to 61 metres depth. The highest gold value from the hole was a 2 metre interval grading 0.44 g/t gold from 75 to 77 metres depth. Hole OxE12-2 returned 76 metres grading 0.24% zinc and 0.19% manganese along with elevated gold and locally silver, antimony, arsenic, bismuth, and copper, from 49 to 125 metres depth. The highest gold value from the hole was a 2 metre interval grading 0.18 g/t gold from 343 to 345 metres depth. Hole OxE12-3 encountered patchy zinc, silver, gold, and bismuth anomalies in the upper 100 metres of the hole. The hole ended in 1.3 metres grading 0.30 g/t gold at 526 to 527.3 metres depth.
The widespread and intense clay alteration and anomalous values of zinc, lead, silver, gold, antimony and arsenic are interpreted to potentially represent a large zone of alteration proximal to or overlying a porphyry system. This interpretation is consistent with the geologic setting in which rocks in this area are down dropped along a major fault. The large alteration zone could be prospective for narrow high grade base metal-silver (and/or gold) veins, such as the veins at the Damascus zone 3 kilometres to the south. The large alteration zone warrants further exploration and the Company is planning a detailed 3D induced polarization survey over the area, combined with a structural analyses. This would be followed by drill testing some of the major faults that pass through the anomaly targeting high grade precious metal veins. The potential for porphyry style mineralization at depth will also be evaluated.
Updated resource estimates for the Seel-West Seel and Ox deposits are underway. All of our recent news releases can be viewed on the Company's website at http://goldreachresources.com/news/2013/.
For further information please see our website at http://goldreachresources.com.
Mineral Exploration Roundup
Gold Reach will display core from the Seel deposit at the Core Shack during the 2013 Mineral Exploration Roundup, on Thursday January 31st between 10am and 5pm, at the Westin Bayshore, Vancouver.
About Gold Reach Resources
Gold Reach Resources Ltd. has made an important new and strategic Copper Gold Molybdenum discovery on its 100% held Ootsa Property located adjacent to the 16,000 tonne per day Huckleberry Mine currently producing Cu Au and Mo in central BC.
Gold Reach's Ootsa property is an advanced stage exploration project containing the Seel and Ox porphyry systems both with compliant resource estimates (details below) wide open for expansion. The Company has recently added the discovery of the West Seel Porphyry where drill hole S12-118 encountered 128 metres grading 1.01% Cu Eq. consisting of 0.43% Cu, 0.33 g/t Au, 0.076% Mo and 4.76 g/t Ag within a much larger interval of 537 metres grading 0.65% Cu Eq. consisting of 0.27% Cu, 0.19 g/t Au, 0.055% Mo, and 2.69 g/t Ag.
The Company is well financed with over $2.26 million dollars in the treasury and holds a 2% NSR covering 23,000 hectares of mining claims located adjacent to the Blackwater Gold deposit in central British Columbia.
All drill core is logged, photographed, and cut in half with a diamond saw. Half of the core is bagged and sent to SGS Mineral Services for analysis (which is an ISO 9001 and ISO/IEC 17025 certified lab), while the other half is archived and stored on site for verification and reference purposes. Gold is assayed by standard fire assay methods with 34 additional elements analyzed by Induced Coupled Plasma (ICP) utilizing a 4-acid digestion. Duplicate samples, blanks, and certified standards are included with every sample batch and then checked to ensure proper quality assurance and quality control.
Dr. Shane Ebert, P.Geo., President of the Company, is the Qualified Person for the Ootsa project as defined by National Instrument 43-101 and has approved the technical disclosure contained in this news release.
Shane Ebert, President/Director
Safe Harbour Statement: The Company relies upon litigation protection for "forward-looking statements". The Company undertakes no obligation to update these forward- looking statements in the managements beliefs, estimates obligations or other factors should change.
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.
Containers are all the rage among developers and web companies, but they also represent two very substantial benefits to larger organizations. First, they have the potential to dramatically accelerate the application lifecycle from software builds and testing to deployment and upgrades. Second they represent the first truly hybrid-approach to consuming infrastructure, allowing organizations to run the same workloads on any cloud, virtual machine or physical server. Together, they represent a ver...
Oct. 13, 2015 02:45 PM EDT Reads: 241
This week, the team assembled in NYC for @Cloud Expo 2015 and @ThingsExpo 2015. For the past four years, this has been a must-attend event for MetraTech. We were happy to once again join industry visionaries, colleagues, customers and even competitors to share and explore the ways in which the Internet of Things (IoT) will impact our industry. Over the course of the show, we discussed the types of challenges we will collectively need to solve to capitalize on the opportunity IoT presents.
Oct. 13, 2015 02:30 PM EDT
DevOps Summit, taking place at the Santa Clara Convention Center in Santa Clara, CA, and Javits Center in New York City, 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 widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait...
Oct. 13, 2015 02:30 PM EDT Reads: 189
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands. Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction....
Oct. 13, 2015 02:15 PM EDT Reads: 357
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Oct. 13, 2015 02:00 PM EDT Reads: 1,339
DevOps and Continuous Delivery software provider XebiaLabs has announced it has been selected to join the Amazon Web Services (AWS) DevOps Competency partner program. The program is designed to highlight software vendors like XebiaLabs who have demonstrated technical expertise and proven customer success in DevOps and specialized solution areas like Continuous Delivery. DevOps Competency Partners provide solutions to, or have deep experience working with AWS users and other businesses to help t...
Oct. 13, 2015 02:00 PM EDT Reads: 296
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?
Oct. 13, 2015 02:00 PM EDT Reads: 108
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...
Oct. 13, 2015 02:00 PM EDT Reads: 194
As operational failure becomes more acceptable to discuss within the software industry, the necessity for holding constructive, actionable postmortems increases. But most of what we know about postmortems from "pop culture" isn't actually relevant for the software systems we work on and within. In his session at DevOps Summit, J. Paul Reed will look at postmortem pitfalls, techniques, and tools you'll be able to take back to your own environment so they will be able to lay the foundations for h...
Oct. 13, 2015 01:45 PM EDT Reads: 221
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in high-performance, high-efficiency server, storage technology and green computing, 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. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology is a premier provider of advanced server Building Block Solutions® for Data ...
Oct. 13, 2015 01:45 PM EDT Reads: 222
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Oct. 13, 2015 01:00 PM EDT Reads: 342
DevOps has often been described in terms of CAMS: Culture, Automation, Measuring, Sharing. While we’ve seen a lot of focus on the “A” and even on the “M”, there are very few examples of why the “C" is equally important in the DevOps equation. In her session at @DevOps Summit, Lori MacVittie, of F5 Networks, will explore HTTP/1 and HTTP/2 along with Microservices to illustrate why a collaborative culture between Dev, Ops, and the Network is critical to ensuring success.
Oct. 13, 2015 01:00 PM EDT Reads: 258
The IoT market is on track to hit $7.1 trillion in 2020. The reality is that only a handful of companies are ready for this massive demand. There are a lot of barriers, paint points, traps, and hidden roadblocks. How can we deal with these issues and challenges? The paradigm has changed. Old-style ad-hoc trial-and-error ways will certainly lead you to the dead end. What is mandatory is an overarching and adaptive approach to effectively handle the rapid changes and exponential growth.
Oct. 13, 2015 01:00 PM EDT Reads: 338
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 in...
Oct. 13, 2015 01:00 PM EDT Reads: 219
The enterprise is being consumerized, and the consumer is being enterprised. Moore's Law does not matter anymore, the future belongs to business virtualization powered by invisible service architecture, powered by hyperscale and hyperconvergence, and facilitated by vertical streaming and horizontal scaling and consolidation. Both buyers and sellers want instant results, and from paperwork to paperless to mindless is the ultimate goal for any seamless transaction. The sweetest sweet spot in innov...
Oct. 13, 2015 12:00 PM EDT Reads: 310