Goldrich Stakes Thazzik Mountain, Alaska
SPOKANE, WA - Sep 19, 2011 - Goldrich Mining Company (OTCBB: GRMC) (the "Company") reports it has expanded its Chandalar, Alaska gold project mining claims block and staked a new gold property of similar size, geology and discovery potential at nearby Thazzik Mountain. The new acquisitions more than doubled the Company's land holdings in Alaska from approximately 17,560 to 48,440 acres.
Goldrich expanded its Chandalar mining claims based on recent exploration results and a historical United States Geological Survey (U.S.G.S.) reconnaissance aeromagnetic survey. The survey shows all known gold prospects in the Chandalar district are associated with a large, northeast-trending, magnetic high. As a result, the Company located new mining claims covering 5,280 acres, completing the Company's coverage of this northeast mineral trend. With the new acquisition, the Company's total land area at Chandalar increased to approximately 22,840 acres.
The archived U.S.G.S. geophysical and geochemical data also provided a basis for staking a new and separate 25,600-acre block of state mining claims known as Thazzik Mountain, located about 30 miles southeast of Chandalar. Records show the U.S.G.S. reconnaissance sampling identified geochemically anomalous gold, arsenic and antimony associated with a large positive aeromagnetic anomaly similar to that associated with the Chandalar district. Geologically, Thazzik Mountain lies within the same schist belt as Chandalar on the south flank of the Brooks Range. Fieldwork has identified a multitude of quartz-bearing structures, including sheeted quartz veinlets. The Company has taken approximately 100 reconnaissance samples for geochemical analyses and is awaiting the results.