Argentina Mining Play

[Ed Monton]

Golden Peaks hits 18.34 g/t Au in 5.15 m at La Fortuna


2006-01-20 11:27 ET - News Release

Mr. Scott Emerson reports

LA FORTUNA YIELDS HIGH GRADE DRILL RESULTS

Golden Peaks Resources Ltd. has made a significant discovery from its continuing diamond drilling program on the La Fortuna project in Patagonia, Argentina. Seven holes drilled on the T11 zone intersected high-grade gold mineralization within broad zones of shallow, moderate-grade gold mineralization. Assays are awaited for LF-9.

 
  
 Hole     Gold  Intersec-   From     To 
          (g/t)   tion (m)    (m)    (m) 
   
 LF-7     3.65      50.00   4.00  54.00 
 incl.    6.70      23.50  18.50  42.00 
 incl.   11.66       6.00  23.00  29.00 
 incl.   10.68       7.70  31.30  39.00 
    
 LF-9                    assays awaited 
   
 LF-8     3.62      23.00   9.00  32.00 
 incl.    7.24       6.00   9.00  15.00 
   
 LF-10    2.00      59.85  20.70  80.56 
 incl.    5.13      17.30  20.70  38.00 
 incl.   10.58       8.30  20.70  29.00 
 incl.    8.88       1.90  52.10  54.00 
   
 LF-11    5.72      38.00   3.00  41.00 
 incl.   10.90      10.30  19.50  29.80 
 incl.   18.34       5.15  23.35  28.50 
 incl.   10.08       6.02  33.53  39.55 
   
 LF-12    3.30      13.00   7.00  20.00 
 incl.    6.42       3.65   7.00  10.65 
   
 LF-13    3.97      23.90  59.00  82.90 
 incl.    6.64      13.50  66.00  79.50 
 incl.    9.84       4.00  66.50  70.50