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Monday, May 16, 2011

Goldsearch Announced


Goldsearch is pleased to announce that a ground induced polarisation (IP) geophysical survey has commenced on the Company’s joint venture properties in Sweden. The 6.6 line kilometre pole-dipole survey will be completed on the Hallëfors and Jugansbo properties in central south Sweden. These properties comprise the Company’s Bergslagen joint venture in which Goldsearch is earning 70% from Toronto-listed Tumi Resources Limited (TSXV: TM). The Bergslagen District hosts a number of historic and current copper, silver and zinc mines, including Sala, Falun, Garpenberg and Zinkgruvan.

The current survey follows on from earlier completed airborne electro magnetic (EM) and gradient array IP surveys, where zones of increased conductivity and chargeability were identified. It is anticipated that the current survey will identify anomalous areas along strike and/or down-dip from areas of historical mining which have been drilled to relatively shallow vertical depths. Drilling by previous explorers at Jugansbo intercepted significant silver, zinc and lead mineralisation; best results include 9.2 metres grading 222 grams per tonne (g/t) silver, 7.48% zinc, 2.27% lead from 81.4 metres down hole and 6.45 metres grading 77 g/t silver, 4.31% zinc and 2.66% lead from 99.25 metres.

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