Goldrush Resources - Let the real RUSH begin - NOW
The company made significant progress in 2011/2012.
A new 43101 complaint resource will host double or triple the ounces from the initial one in 2008. Goldrush increased the size of their flagship project Ronguen in all dimensions. They uncovered new high grade zones, like the north zone with 3.9g/t over 10m. They just drilled their best hole with 8.7g/t over 23m at fill in drilling to increase the initial resource which is 249koz of 5.9mt at 1.3g/t. The mineralization begins at surface. The Ronguen deposit hosts shallow gold, but they tested the depth as well and drilled 11.5g/t over 4.8m at a vertical depth of 110m. They extended the strike length to nearly 2.000m. The widths vary between 10 and 100m+. The initial resource was calculated in 2008 with nearly 19.000m drilled to a maximum depth of 80m. By now they completed over 45.000m of drilling on Ronguen. I think the ounces will at least double to triple by end of Q1/12. Be prepared for a major spike in sp and market capitalization, which is very low. They have 165m shares outstanding on a fully diluted basis. At 0.14 CAD GOD is valued only 23m and on top of that there are millions of warrants out of the money due in a few weeks. That could lower the share amount substantially and decrease the value further. The treasury is filled with 1-2m. Warrants due shortly would bringt 4.7m if exercised. The managament is experienced in finding ounces. They were part of a second wave exploration rush in Burkina Faso from Canada and Australia. They are industry awarded guys with extensive knowledge in exploration and making discoveries especially in Burkina.
Thats just the introduction, they have 12 permits adjacent to big deposits, such as Yaramoko, Mana, Konkera, Kunche, Inata and many more. They have probably the best landpackage to explore and a team of 45 geological workers to do so.
Best regards.
