Golden Touch Resources Corp TSXV:GOT announced assays from its Rubik Gold Project in Albania. Results include 3 g/t gold over 17 metres (including 4 g/t over 7 metres), 1 g/t over 25 metres (including 8 g/t over 2 metres), 1.3 g/t over 30 metres (including 7 g/t over 6 metres) and 1.7 g/t over 30 metres (including 1.5 g/t over 14 metres).
President Rob Murdoch tells ResourceClips.com, “Basically Golden Touch Resources is a shell in Canada that’s been formed by merging with an Australian company that I started and ran called Jab Resources. Golden Touch holds four exploration permits in Albania on three different projects, one of which is a very nice gold project that we identified in 2009 and 2010. There was some drilling on it; it wasn’t very good drilling but the results were good. So we persevered, and now we’ve raised some money, so we’re charging ahead with the drilling program.
“The gold mineralization is contained within a pretty wide shear zone, 10-plus metres wide; in fact, some of our intersections are up to 30, 30-some metres. But, dipping away to the north, we don’t know yet. There have been a few surprises—it’s deeper in some places than we thought, shallower in other places. But obviously, as most gold-ore bodies are, it’s a bit complex, and we’ve got to sort that out as we go along. But it’s about 30 metres wide, that’s what we’re seeing on the drill intersections.
We’re not real estate people; we’re serious people who’ve put gold mines into production before.—Rob Murdoch
“There are two zones within the shear zone,” Murdoch explains. “There seem to be some very high grades along the hanging wall of the shear and also some high grades on the lower wall of the shear. Or you can bulk the whole lot together. The reason for bulking the whole lot together and having a grade averaging at the moment 1.6 to 1.7 over 30-odd metres is that the gold is associated with sulphides. We’ve done a little bit of preliminary testing which is encouraging. We haven’t finished that work yet. We’ll probably open-pit across the whole width.
“The results we just released confirm the mineralization over about 100 metres, but we obviously need to do much more than that. So we just keep working at it, stepping out and seeing how big this thing is. There are indications from gold and silver anomalies that it goes up to six kilometres along strike. So there’s a fair bit of potential; we’ve got a fair bit of work ahead of us.
“The plan is to drill up a resource and then take a feasibility study and get it into production,” Murdoch says. “I think we should have the resource within about 12 months. At the moment we’re only using one rig, largely because we don’t have an over-abundance of cash. As we get better results we’ll raise more cash, so we can put in more drill rigs and accelerate the project—a typical exploration scenario.
“Of course we’ll take it into production ourselves, why else would you do this?” the Australian laughs. “I know sometimes in Canada people do it the other way, but our typical way is to put it into production. But on the other side of the equation, if someone comes along and offers you a price your shareholders can’t refuse, then obviously you sell. But we’re not real estate people, we’re serious people who’ve put gold mines into production before.
“Most of the time, working in Albania is good,” Murdoch continues. “There’s no problem getting there, there’s no problem getting around. The people are friendly. The cost of operation is relatively low. I suppose our frustration sometimes comes from the bureaucratic side, but you have that everywhere in the world, I think. The local geos we’ve hired are outstanding. They do need a little bit of a push from someone who’s had a bit of worldly experience because a lot of them grew up during the Communist era, so they don’t think outside the box. But once you show them what to do they’ll do it absolutely perfect every time. They’re good. And we’re drilling for only about 100 bucks a metre, so that’s reasonably cheap. We don’t see it as an expensive place to operate.
“As far as we’re considered the infrastructure’s alright,” he adds. “It’s only an hour and a half from the capital. The first hour is on a beautiful highway, the last half hour on bush track. The track will have to be upgraded. There is water, although there’s no power where we are. But the infrastructure’s fine.
“We’ll head off and drill a few holes on our platinum project shortly, because we’ve only got one rig. Our platinum project is also outstanding. While the drill rig’s away we might do some IP and get a better idea of the dimensions of the ore body and where it goes.”
View Company Profile
Golden Touch Resources Corp
by Greg Klein