Golden Touch Resources Corp. ("Golden Touch" or the "Company") (TSX
VENTURE:GOT)(FRANKFURT:0GT) is pleased to announce that the Company's Gold
Project tenement (Prospecting and Exploration Licence 1124 - "PEL 1124"),
together with Chromite Project tenement (Prospecting and Exploration Licence
1375 - "PEL 1375") have now been renewed for 12 months under the new Albanian
Mining Law. 


PEL 1376 covering the platinum project was renewed in November and drilling is
underway on that tenement. 


The renewals have taken longer than expected due to the implementation of a new
Mining Law in Albania that has been considerably delayed by internal government
processes. However, Golden Touch is of the view that the renewals under the new
law provide the Company with a much higher level of security of title going
forward through the exploration phase to mining. 


The renewal of PEL 1124, covering the Rubik Gold Project, allows the Company to
start the planning of its 2012 exploration program with confidence. Exploration
activity undertaken by the Company within PEL 1124 in 2011 has substantially
improved both the potential and geological understanding of the Project. The
work included a 26 hole diamond drilling program, which was completed in
September and a program of geological mapping and geophysical traversing, still
in progress. 


The drilling outlined significant gold mineralisation within nine steeply
dipping, stacked, shear zones hosted by greenstone volcanic rocks at a locality
known as the Gjazuj Prospect (an area of 400 meters x 200 meters). The drilling
intersected 27 separate intervals of gold mineralisation above a cut off of 0.5
grams/tonne gold (g/t Au). The highest assay over a one meter interval was 39
g/t Au. The best intersection was 3 meters @ 14.8 g/t Au. The 27 intersections
averaged 4 meters @ 2.7 g/t Au. 


The results of the geophysical program obtained thus far indicate that there are
a number of encouraging resistivity and chargeability anomalies and that the
program will provide some very interesting drill targets for 2012. The
geological surface mapping program combined with logging of drill core has
already located a number of outcropping shear zones and resulted in the
development of a new and more prospective geological model. 


PEL 1375 covers the northern half of the Company's North East Albanian Chromite
Project. The Company is awaiting the renewal of PEL 1125 over the southern half
of the chromite project, expected shortly. The Company is currently evaluating
the options for the funding of the further exploration and development of this
project. 


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
Goliath Resources (TSXV:GOT)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Goliath Resources Charts.
Goliath Resources (TSXV:GOT)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Goliath Resources Charts.