Drill Tracker Weekly: Gold Reach Expands Copper-Moly-Gold Mineralization at Ox Porphyry

Drill Tracker Weekly is not exclusive to Resource Investing News and is published with permission from Mackie Research Capital Corporation. It highlights drilling results in context with our database of over 10,000 drilling and trenching results. The purpose of this report is to highlight drilling and trenching results that stand out from the pack and compare them to their peer group. This report does not constitute initiation of coverage or a recommendation.

Gold Reach Resources (TSXV:GRV)

Price: $1.11

Market cap: $35 million

Cash estimate: $2.9 million

Project: Ootsa

Country: Canada

Ownership: 100 percent

Resource: 67.7 Mt @ 0.21% Cu, 0.015% Mo, 0.17 g/t Au indicated; 463 Mt @ 0.17% Cu, 0.1 g/t Au, 0.02% Mo, 1.87 g/t Ag inferred

Project status: Advanced exploration

Catalysts: Additional drilling — resource update

• Drilling on the Ox deposit four kilometres to the north-northeast of the Company’s West Seel deposit continues to outline near-surface copper-gold-molybdenum porphyry mineralization.

• Hole Ox13-78 intersected 225.6 metres grading 0.30% Cu, 0.032% Mo, 0.05 g/t Au, and 1.73 g/t Ag (0.48% Cu equivalent) starting at a depth of 8.7 metres. An additional hole (Ox13-77) starting at a depth of 14 metres intersected 148.2 metres of 0.35% Cu, 0.033% Mo, 0.07 g/t Au and 1.82 g/t Ag (0.55% Cu equivalent).

• The Ootsa Project, while typical of many low grade British Columbia porphyry deposits, has some advantages over many current development projects. The key issue is the number of holes that are very near surface thus creating a situation that may provide opportunities for a low-strip, near surface starter pit that could potentially reduce the up-front capital cost of the project (Note: no economic studies have been completed by the Company). The second advantage is the higher than average grade of potential by-product molybdenum.

• The Company has outlined a total indicated resource of 67.7 million tonnes grading 0.21% Cu, 0.015% Mo, and 0.17 g/t Au with an additional 463 million tonnes of inferred resource at 0.17% Cu, 0.10 g/t Au and 0.02% Mo (0.2% CuEq cut-off).

DISCLOSURES

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