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MENAFN - ProactiveInvestors - Australia - 21/01/2013

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(MENAFN - ProactiveInvestors - Australia) Goldphyre Resources (ASX:GPH) has intercepted up to 1.57 grams per tonne of gold at its Axford prospect in the Lake Wells project in Western Australia.

The latest results confirm the presence of a large alteration system associated with major Eastern Goldfields deposits.

Drill results from reverse circulation and air core drilling of 43 holes for a total of 3,596 metres confirm the presence of a large alteration system.

Intercepts include 4 metres at 1.28g/t, 20 metres at 0.56 g/t, 4 metres at 1.57 g/t and 20 metres at 0.35 g/t.

Other gold anomalous intervals exceeding 100 parts per billion associated with broad alteration haloes in reverse and aircore drilling was found.

Reconnaissance geochemistry sampling was completed in the north part of the Lake Wells project and rock chips were collected.

The highest soil sample recorded was 16 ppb and further field reconnaissance and rock chip geochemistry is planned for later this month.

Follow up reverse circulation and additional scout aircore drilling with a salt lake accessible drill rig will be planned for the 2013 field season following the collection and receipt of all outstanding assay results.

 






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