Golden Touch Obtains Drill Intersections of Up to 5.27 g/t Pt-Over Three Meters From the First Round of Drilling on Its Plati...
February 13 2012 - 8:00AM
Marketwired Canada
Golden Touch Resources Corp. ("Golden Touch" or the "Company") (TSX
VENTURE:GOT)(FRANKFURT:0GT) is pleased to announce that drill intersections of
up to 5.27 grams/tonne (g/t) platinum (Pt) over three meters and up to 2.06 g/t
Pt over four meters have been obtained in the first round of drilling in the
Company's Platinum Project (PEL1376) in north-eastern Albania.
Intervals above 1.0 g/t Pt have been obtained in Holes 1, 2, 3 and 4. Widespread
low grade Pt anomalism of up to 0.30 g/t over 15.0 meters has also been obtained
from all five holes.
Five holes were drilled in the first round drilling program for a total of
480.65 meters. All of these holes tested the Bregu I Bibes Prospect, down-dip
from where channel sampling of trenches excavated in an outcrop, located zones
of 1.5 g/t Pt over 14.0 meters, 1.9 g/t Pt over 11.0 meters and 2.1 g/t Pt over
5 meters.
A total of 496 drill core samples (one metre intervals) were prepared and
despatched for assay. Samples were analysed for platinum group elements
(platinum and palladium), gold and chromite (Cr2O3).
Results are encouraging with 8 intersections (ranging in length from 1.0 to 4.0
meters) in excess of 1.0 g/t Pt developed within thick widespread intersections
(up to 15.0 meters) of low grade Pt over 0.25 g/t. Of particular encouragement
are intersections of 5.27 g/t Pt over three meters in Hole BB-4 (including an
interval of 1.0m @ 7.60 g/t Pt) and 2.06 g/t Pt over four meters in Hole BB-3.
Intersections with over 0.25 g/t Pt and/or 0.25 g/t palladium (Pd), together
with chromite content, are as follows;
HOLE BB-1
11.0m (3.0-14.0m) @ 0.48 g/t Pt and 1.93% Cr2O3
(including 1.0m (11.0-12.0m) @ 2.69 g/t Pt and 9.0% Cr2O3)
12.2m (36.8-49.0m) @ 0.31 g/t Pt and 1.09% Cr2O3
2.0m (101.0-103.0m) @ 0.25 g/t Pd and 0.06% Cr2O3
2.0m (111.0-113.0m) @ 0.36 g/t Pt and 1.23% Cr2O3
HOLE BB-2
4.0m (12.0-16.0m) @ 1.09 g/t Pt and 2.56% Cr2O3
(including 1.0m (13.0-14.0m) @ 1.98 g/t Pt and 4.18% Cr2O3)
1.0m (19.0-20.0m) @ 3.13 g/t Pt, 0.26 g/t Pd and 8.83% Cr2O3
1.0m (21.0-22.0m) @ 2.15 g/t Pt and 4.59% Cr2O3
14.0m (41.0- 55.0m) @ 0.28 g/t Pt and 2.03% Cr2O3
15.0m (71.0-86.0m) @ 0.30 g/t Pt and 0.94% Cr2O3
1.0m (92.0-93.0m) @ 0.28 g/t Pt and 1.04% Cr2O3
HOLE BB-3
4.0m (5.0-9.0m) @ 2.06 g/t Pt and 2.41% Cr2O3
(incuding 1.0m (8.0-9.0m) @ 3.29 g/t Pt and 3.67% Cr2O3)
3.0m (18.-21.0m) @ 1.09 g/t Pt and 1.82% Cr2O3
(incuding 1.0m (19.0-20.0m) @ 1.75 g/t Pt and 3.67% Cr2O3)
5.0m (42.0-47.0m) @ 0.50 g/t Pt and 1.82% Cr2O3
(including 1.0m (44.0-45.0m) @ 1.47g/t Pt and 4.00% Cr2O3)
6.0m (60.0-66.0m) @ 0.25 g/t Pt and 0.88% Cr2O3
HOLE BB-4
3.0m (40.0-43.0m) @ 5.27 g/t Pt, 0.30 g/t Pd and 26.72% Cr2O3
(including 1.0m (41.0-42.00m) @ 7.60 g/t Pt, 0.35% Pd and 38.7% Cr2O3)
1.0m (39.0-40.0m) @ 0.32 g/t Pt and 0.78% Cr2O3
1.20m (63.0-64.2m) @ 0.26 g/t Pt and 1.07% Cr2O3
HOLE BB-5
3.0m (18.0-21.0m) @ 0.35 g/t Pt and 1.36% Cr2O3
1.0m (60.0-61.0m) @ 0.75 g/t Pt and 2.94% Cr2O3
9.0m (88.0-97.0m) @ 0.28 g/t Pt and 1.01% Cr2O3
(including 1.0m (91.0-92.0m) @ 0.55 g/t Pt and 1.75% Cr2O3)
1.0m (102.0-103.0m) @ 0.45 g/t Pt and 2.10% Cr2O3
In general, the lower levels of platinum are associated with low percentages of
chromite, in the order of up to 1 to 2%, whereas the higher platinum levels are
associated with high percentages of chromite up to 38.7%.
Although some intervals of low core recovery were encountered, this has
potentially only affected one zone of 4.0m @ 1.09 g/t Pt over the interval 12.0
to 16.0 meters in Hole BB-2 where recovery totalled only 50%. Full recovery over
this interval may well have returned an average Pt assay of more or less that
the amount actually recorded. The top of Hole BB-2 may be drilled again in
another round of drilling to check the impact of the low recovery on Pt grade.
In summary, the first round drilling program has generated encouragement in that
it has confirmed the presence of significant platinum mineralization developed
within a broad halo of low grade mineralization.
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
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