Spokane, WA - May 7, 2014 - Goldrich Mining Company (OTCBB: GRMC) (“Goldrich” or the “Company”) is pleased to announce results from advanced petrologic studies of drill core samples from the Company’s 100% owned Chandalar gold property in Alaska. The new data refines the orogenic model that has historically guided exploration at Chandalar and offers a fresh approach to future exploration.
Goldrich directors and geologists Dr. Mike Rasmussen and Charles Bigelow concurred that, “The studies are important for exploration as the pegmatite textures in outcrop and drilling and the radiogenic activity from accessory minerals associated with pegmatite-veins indicate proximity to intrusive-related mineralization and may provide Goldrich a highly useful tool for gold mineralization discovery.”
The petrologic study involved detailed microprobe examination of samples taken from veins in the Chandalar gold system that exhibit characteristics of pegmatite, an igneous rock deposited during emplacement of a granitic intrusive body. All of the samples contain numerous accessory minerals that commonly derive from magma or late stage magmatic fluids, including monazite, thorite and xenotime. Some of the accessory minerals co-precipitated with gold, indicating that late intrusive stage hydrothermal fluids migrated upward along shear zones within which the lode gold mineralization is emplaced. Importantly, radiogenic activity is associated with the accessory mineral suite.
Rasmussen and Bigelow further noted, “ We anticipate rigorous follow-up rock sampling and radiogenic surveys will result in more effective selection of high-priority drill sites, an important factor considering the expansive size of the Chandalar gold system.”