VANCOUVER, BRITISH COLUMBIA -- 11/10/09 --
Larry W. Reaugh President and Chief Executive Officer of Goldrea Resources Corp. (TSX VENTURE: GOR)(PINK SHEETS: GORAF)(FRANKFURT: GOJ) and Chairman and Chief Executive Officer of Molycor Gold Corp. (TSX VENTURE: MOR)(PINK SHEETS: MLYFF)(FRANKFURT: M1V) is pleased to announce that trenching and drilling of 10 reverse circulation holes entailing approximately 2,000 meters has commenced on the Flap gold project located approximately 45 km northwest of Kelowna, BC.
The 10 holes will be drilled on the Flap stockwork gold zone measuring 300 x 200 meters (885 ft x 666 ft). Earlier drilling and trenching by Rea Gold Corp. returned up to 76.73 grams/tonne Au (2.25 opt Au) over 1 meter (3.3 ft) in diamond drilling and 17.8 - 25.6 grams Au/t (0.5 - 0.75 opt Au) in chip samples from the surface (reported by Gary Medford PhD/Rea Gold Corp. ("Rea") Feb 18, 1989). The diamond drill program by Rea was biased negatively due to the nugget effect in the mineralization. Subsequent surface trenching by the Molycor/Goldrea Joint Venture returned up to 3.10 g/t (0.091 opt Au) over 6 meters (19.7 ft). The Company expects larger diameter reverse circulation drill holes will better define the distribution of gold in the system and may partially reduce the nugget effect allowing the companies to better evaluate the gold bearing stockwork.
The property is a 50/50 joint venture between Goldrea Resources Corp. and Molycor Gold Corp.
The program is being supervised by Norm Tribe, P.Eng and results will be reported when they are received.
This news release was reviewed by Norm Tribe P.Eng., a qualified person recognized under NI 43-101.
On Behalf of Management
Larry W. Reaugh, President and Chief Executive Officer
This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Goldrea Resources Corp. / Molycor Gold Corp.
Larry W. Reaugh
President and Chief Executive Officer
604-531-9639
604-531-9634 (FAX)
info@goldrea.com / info@molycor.com
www.goldrea.com / www.molycor.com
