The previous owner Falconbride outlined a $250,000,000 resource on this property 15 years ago, this drilling should update this resource to 43101 standards.
Golden Arch Commences Drilling at Wakefield Lakes Zinc Project, Sask.
March 11, 2008 Vancouver, BC – (TSX.V: GAI) – Les Kjosness, President is pleased to announce the first phase of the 2008 drilling program, expected to be 7000 feet, has begun at the Company’s Wakefield Lakes zinc property. The ‘Company’ plans to drill at seven sites with one to five drill holes per site during this spring program. Phase two of the program is planned to start in the fall of 2008 to follow up on drilling results.
The Wakefield Lakes property is located approximately 300 kms northeast of La Ronge, Saskatchewan, 15 kms east of the Saskatchewan all weather road #905. A new all-weather road #995 is scheduled to be built by the Saskatchewan Government through the mineral claims held by Golden Arch providing yearround property access. Previous drilling by Falconbridge indicates the possibility of a high-grade core of mineralization grading greater than 5% zinc. The Wakefield Zone is approximately eight km long and is generally unexplored. However, a limited detailed drilling program on the George Lake Zone is the basis of an historically published resource of 2.9 million tons at 3.67% zinc and 0.53% lead, using a 2% zinc cut-off. As the resource estimate was completed prior to the implementation of National instrument 43-101 and the Company has not done the work necessary to verify the classification of the resource or reserve, it should not be relied upon or considered a defined resource according to NI 43 101.
The Company’s goals are to verify the results attained by Falconbridge; begin to extend the known George Lake deposit, which is open in all directions, and to supply data for the completion of an NI 43-101 report. Exploration drilling is also scheduled on at least two other target areas on the same trend that were indicated by previous drilling.
On behalf of the Board,
“Les Kjosness”
President & Director
The Company’s exploration program is under the supervision of R.D. Somerville, P. Eng., and a Qualified Person under National Instrument
43-101. Mr. Somerville is Vice President and COO of Golden Arch
Resources Ltd. Golden Arch Resources Ltd. is a metals, oil, and gas
and exploration company based in Vancouver, BC,
Canada. Its principal assets are the Mildred Peak copper/gold/silver
property located in Arizona, the Wakefield Lakes zinc project in Saskatchewan and the Abbott/Wagner silver/lead/zinc property in British Columbia