Spokane, WA - July 6, 2011 - Goldrich Mining Company (OTCBB: GRMC) (the "Company") announces it has begun a diamond-core drilling program at its Chandalar gold property in Alaska. The drilling program, which began last week, will test multiple targets with 25 to 30 angle holes averaging 500 feet, with some up to 750 feet.
Drilling will explore an established northeast trend of gold mineralization more than five miles long and a half a mile wide. Gold mineralization occurs where a series of northwest striking shear zones cut a northeast structural feature (folding). Gold with strong arsenic mineralization along this corridor is hosted within the broad shears and their enclosing metamorphic stratigraphy. The mineralized meta-sediments are black graphitic phyllites and chloritic schists, within the black phyllites exists peripheral to the gold mineralization, yielding a strong, northeast trending magnetic halo more than five miles long.
Dick Walters, a geologist and director of the Company, remarked: "I believe Chandalar displays characteristics of sediment-hosted orogenic gold mineralization prospective for world-class gold deposits. The distribution, composition and structure of pre-metamorphic organic and sulfide rich metalliferous black shales are manifested by a metamorphic equivalent at Chandalar known as the Mikado Phyllite. The Mikado Phyllite is unique to the Chandalar property, is hundreds of feet thick, and presents a Carlin-type opportunity for Goldrich."