GOLD Reach Reviews Ootsa Exploration Targets with Similarities to New Nadina Explorations Sivler Queen Deposit
GOLD REACH REVIEWS OOTSA EXPLORATION TARGETS WITH SIMILARITIES
TO NEW NADINA EXPLORATIONS SIVLER QUEEN DEPOSIT
November 14, 2017 , Vancouver, British Columbia - Gold Reach Resources Ltd. (the
“Company” or “Gold Reach”) (TSX -V:GRV) is pleased to provide a summary of exploration
targets on the Company’s Ootsa Project that have similar characteristics as New Nadina
Explorations Ltd. (New Nadina, TSX-V: NNA) Silver Queen deposit.
Recent drilling success by New Nadina at the Silver Queen deposit, loc ated 40 kilometres
northeast of the Ootsa Property, has prompted the Company to review the kno wn silver vein
targets at Ootsa. Portions of the Ootsa property have similar geology as the Silver Queen
deposit, and are considered prospective for the same sty le of mineralization. Both properties
contain zones of porphyry style mineralization with peripheral and locally overprinting high -
grade vein mineralization. The average width of the historically mined veins at Silver Queen
range from 0.9 to 1.2 metres with local zones to 4.6 metres. Silver Queen mineralization consists
dominantly of quartz and carbonate with sphalerite galena and chalcopyrite.
High grade precious-base metal veins are widespread on Gold Reach’s Ootsa property and have
been intersected in drill ing at the Seel and Ox deposits, and occur peripheral to the main
porphyries at the Captain Mine and the Damascus Silver Vein. A map of the Ootsa Property
showing the location of the Seel Cu-Au porphyry deposits, the Ox Cu-Mo porphyry deposit, and
other mineralized zones and exploration targets is available here (Ootsa Property Map ). The
Captain Mine, located west of the Seel Deposits, contains two underground adits which follow a
high-grade quartz-carbonate vein with galena, sphalerite, and pyrite that is up to 3 metres wide.
One of the adits extends about 100 metres into the hillside and remains in good condition. A
grab sample of sulfide rich material collected from the adit by Gold Reach in 2013 returned 2220
g/t Ag (65 ounces per tonne), 9.2% Pb, and 0.27% Cu. Other mineralized veins are known to
occur immediately east and west of the Captain Mine. The Captain Mine occurs within a large
and highly altered zone containing Bulkley Suit e rocks that have intruded into Kasalka Group
volcanic rocks, an identical geological setting as the Silver Queen deposit. The zone has never
been drilled or systematically explored and it remains an excellent target for high grade silver
mineralization.
Photographs of the Captain Mine and silver-base metal mineralization from other zone on the
Ootsa property are available here (Ootsa Photos of Silver Mineralization ) and in the photo
gallery on our website at www.goldreachresources.com.
A second high grade silver-base metal vein target at Ootsa occurs at the Damascus Vein, located
east of the Seel Deposits. Damascus contains a quartz-carbonate base-metal vein system 0.9 to
3.8 metres wide that has been drilled to a depth of around 100 metres and remains open at
depth. The z one contains a historic resource of 196,000 tonnes grading 411 g/t Ag and 7%
combined Pb + Zn.
This resource is historical and is not compliant with NI 43 -101. It was estimated for Lansdowne Oil and Minerals in a 1984
company report titled “Review of 198 2-83 Exploration Lean -To and Panther Groups of Mineral Claims Tahtsa Lake Area
Omineca Mining Division BC”. The historical estimate was done using a cross sectional method based on drill holes and
additional drilling is required to verify the historical e stimate. A qualified person has not done sufficient work to classify the
historical estimate as current mineral resources or mineral reserves and Gold Reach is not treating the historical estimate a s
current mineral resources or mineral reserves.
The Damascus Vein is localized along the Damascus Fault, a structure that has been traced for 4
kilometres in a north -south direction and makes a very prominent linear structure on
geophysical resistivity surveys marking the contact between resistive and condu ctive rocks .
Most of the Damascus Fault structure remains untested by drilling. Select historic drill holes
from Damascus are shown in the table below.
Select drill intercepts from the Damascus Zone.
Hole Zone Width (m)* Ag g/t Au g/t Pb% Zn%
DM-21 Damascus 3.8 1228.6 0.31 7.32 5.67
DM-23 Damascus 1.5 230.7 0.66 3.92 3.35
DM-37 Damascus 0.9 1244.1 0.9 6.33 9.74
DM-46 Damascus 2.6 271.2 0.15 3.48 2.12
DM-41 Damascus 1.1 340.6 1.24 3.32 6.24
*Width refers to drill hole intercepts, the true width of the veins have not been estimated. The drill results are historic in nature
and are reported in a 1982 Assessment Report. The results have not been verified by Gold Reach.
A kilometre scale zone of strong clay alteration with a coincident lead in soil anomaly occurs
within inferred Kasalka Group volcanic rocks and porphyritic intrusions at the East Damascus
Target. This zone represents a large under explored area with poten tial for Silver Queen style
mineralization.
Plans for 2018
The Ootsa property contains numerous drill ready exploration targets along with targets that
require surface work prior to drill testing. There are high priority Cu -Au porphyry drill targets
surrounding the Seel Deposits, in addition to untested silver vein targets. The large zone of
highly altered rocks at the Captain Mine has not seen systematic exploration and has never been
drill tested. Gold Reach has never drilled the Damascus Vein which has not been explored at
depth. Gold Reach is in the process of apply ing for exploration permits for the Ootsa project
including the Captain Mine and Damascus areas. Proposed exploration w ould inclu de re -
establishing historic road access to Captain , completing mapping and surface sampling,
conducting geophysical surveys, and drill testing.
Plans for a 2018 exploration program at Ootsa will be announced once they are finalized and
permitting is in place.
About Gold Reach Resources
Gold Reach Resources owns a 100% interest in the Ootsa Property, an advanced stage
exploration project containing the East Seel, West Seel and Ox porphyry deposits located
adjacent to the open pit Huckleberry copper mine. The property contains NI 43 -101 compliant
resources of 224 million tonnes in the Measured and Indicated categories with contained metals
of 1.1 billion pounds of copper and 1 million ounces of gold as summarized in the table below.
Ootsa Project Pit Constrained Mineral Resource Estimate at $8.50/t NSR Cut-off Value
Category Tonnes
(‘000’s)
CuEq
%
Cu
%
Au
g/t
Mo
%
Ag
g/t
CuEq
M lbs
Cu
M lbs
Au
K oz
Mo
M lbs
Ag
K oz
Measured 187,148 0.38 0.23 0.15 0.021 2.8 1,568 934 916 85 17,089
Indicated 37,041 0.35 0.21 0.12 0.023 2.8 286 175 146 19 3,368
M&I 224,189 0.37 0.22 0.15 0.021 2.8 1,854 1,109 1,062 104 20,457
On February 9, 2016, the Company announced a positive Preliminary Economic Assessment
(PEA) for the Ootsa Property with potential for low capital cost, low risk and rapid pay back
utilizing existing infrastructure in the district with a contract mining and toll milling scenario.
The study recommends that Gold Reach continue to advance the Ootsa Project with extended
and advanced technical studies with t he intention of moving the project toward a production
decision.
The current technical report supporting the resource statement and PEA is available on SEDAR or the Company’s website at
www.goldreachresources.com and has an effective date of January 2016. The resource estimate uses $8.50 per tonne NSR cut -
off value. Mineral resources are not mineral reserves and by definition do not demonstrate economic viability. There is no
certainty that all or any part of the mineral resource will be converted into mineral reserves. A ‘Measured Mineral Resource’ is
that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are so we ll
established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic
parameters, to support production planning and evaluation of the economic viability of the deposit. An ‘Indicated Mineral
Resource’ is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics
can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic paramet ers,
to support mine planning and evaluation of the economic viability of the deposit. Copper Equivalent (CuEq) calculations are
based on base case metal price (US$3/lb Cu, US$1260/oz Au, US$10.30/lb Mo, and US$17/oz Ag) and process recovery
assumptions, and take into account smelter payable rates and refining costs. M&I = measured and indicated.
Dr. Shane Ebert P.Geo. , 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 and Chief Executive Officer
For Further information, please contact:
Telephone: 604-718-5454
Toll Free: 888-500-4587
Email: [email protected]
http://goldreachresources.com
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This News Release contains forward -looking statements, which relate to future events. In some cases, you can
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level of activity, performance or achievements to be materially di fferent from any future results, levels of activity,
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risks may include, among others, that the Offering will not complete, actual results of the C ompany's exploration
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and any assumptions upon which they are based, are made in good faith and reflect the Company's current
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