Before major exploration projects can begin, a number of factors must be determined. A site inspection or a preliminary assessment provides crucial information about a site and its surrounding area. The Board of Directors of Gold Reach Resources Ltd (GRV:CA) , a mineral exploration and development company, has come to a decision to move forward with a key safety inspection for a project that could greatly increase the company’s economic potential.
The Canadian-based company announced today that their Board of Directors has approved a Preliminary Assessment (PEA) of its Ootsa Project. With Gold Reach possessing 100% interest in the Ootsa property, the company plans to start the PEA immediately, which will determine if the property has little to no threat to human health and the environment. The PEA is projected to be completed by Q2 of 2016.
The Ootsa Property, 67,937 hectares located in the Omineca Mining Division of British Columbia, contains three known porphyry deposits, along with zones of high grade silver and base metal. The PEA of the Ootsa Project, located on the south side of Tahtsa Reach, will utilize the existing Huckleberry facility, emphasizing 100m tonnes of 0.4% cueq material averaging 0.5% cueq with a 1.4 to 1.0 strip ratio.
Gold Reach Expands its Reach
"I am very excited about the Company going into development, and the commencement of a PEA," commented Mr. Dwayne Melrose, Gold Reach President and CEO. "This milestone event will illustrate the economic potential of the Ootsa project to the investment community. It is going to be an exciting time in the Company's future."
This announcement follows a number of positive updates from the company. A $512,500 non-brokered private placement was completed this past July. Also, in January, the company announced a number of highlights from their final 2014 Exploration Summary, including verification of a higher grade core in the West Seel deposit.
The continued success of Gold Reach Resources can be traced to its unique corporate structure. With management owning 22% of the company, along with family and friends having a 50% stake in the company, Gold Reach will continue to make decisions that allow the company to thrive, and likely continue to make milestone discoveries.
For more information about Gold Reach Resources, visit www.goldreachresources.com.
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