Blue River Resources Ltd.
Blue River Resources Ltd.
- ISIN: CA09605D1015
- Land: .
Nachricht vom 12.07.2017 | 09:15
Blue River Resources Ltd.: Diamond Drilling at Okalla West Gold Target Has Commenced
DGAP-News: Blue River Resources Ltd. / Key word(s): Miscellaneous
Vancouver, British Columbia--(Newsfile Corp. - July 12, 2017) - Blue River Resources Ltd. (TSXV: BXR ) (OTC Pink: BRVRF) (FSE: 0BL) ('Blue River') announces that diamond drilling at the Okalla West gold target, within the 150 km2 Banlung Exploration Tenement, Cambodia, has commenced. The program is being conducted in co-operation with Angkor Gold Corp.
Phase 1 drilling is planned to consist of up to a total of 500 metres. The holes are intended to determine the orientation, width and frequency of mineralized structures and confirm the style and intensity of country rock alteration.
Gold values from trenching in the drill area resulted in grades of up to 11.5 g /t gold. Previous surface sampling detailed gold mineralization over a 4 km2 area. Gold mineralization occurs in two distinct layers, a near-surface, 2 meter thick, laterite-hosted layer about .5 to 1.0 meters below surface ( see News Release dated January 18 2017 ) and in bedrock approximately 7 to 10 meters deep.
The target to be drilled is 600 metres in length from north to south and about 300 metres east to west and is open in all directions. A phase 2 drill program is planned to follow phase 1, after analysis of the results of the phase 1 drilling.
The Okalla West prospect is situated within a 27-square-kilometre intrusive complex on the Banlung property, and the drill program is expected to provide a better understanding of potential mineralization within this zone.
Previous exploration has indicated that gold mineralization in the bedrock is in an altered and faulted diorite similar to Emerald Minerals' Okvau gold deposit located approximately 80 kilometres to the south. The Okvau deposit current resource measures approximately 1 million ounces gold.
Technical information contained in this news release was reviewed by Jonathan Soper, P. Eng., a qualified person as defined under National Instrument 43-101. Mr Soper has reviewed and approved the scientific and technical disclosure in this news release.
About Angkor Gold Corp.
Angkor Gold is a public company listed on the TSX Venture Exchange and is a leading mineral explorer in Cambodia with a large land package and a first-mover advantage building strong relationships with all levels of government and stakeholders.
About Blue River Resources Ltd.
Under an agreement with Angkor, Blue River Resources has the right to participate initially in up to a 50-per-cent interest of the Banlung exploration license from Angkor Gold after the completion of a total investment of $3.5-million (U.S.) in exploration expenditures over a four-year period. Blue River may then exercise its option on an additional 20-per-cent interest of the Banlung tenement through the commission and completion of a bankable feasibility study on the property or portion thereof.
Blue River Resources Ltd. also has a 100% interest in two mineral properties in the Quesnel Trough Copper Belt, The Castle Copper Project near the Copper Mountain Mine, Princeton, BC and the Mazama Copper Deposit, Okanogan County, WA.
Neither 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.
ON BEHALF OF THE BOARD
Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/27910
|Company:||Blue River Resources Ltd.|
|End of News||DGAP News Service|
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