Goldrush Resources (V.GOD) bumps 25% on Pompoi permit renewal

Gaalen Engen Gaalen Engen, Stockhouse.com
0 Comments| February 28, 2014


Goldrush Resources (TSX-V:GOD, StockForum), a Vancouver-based junior mineral resource exploration firm engaged in the exploration for gold, announced today that the company received a three-year renewal of its Pompoi exploration permit from the Ministry of Mines, Quarries and Energy of Burkina Faso.

 

According to the news release, the 232 square kilometre permit is located in the west central Burkina Faso, covering a part of the Hounde greenstone belt and bracketed by Endeavour Mining's (TSX:EDV, StockForum) Vindaloo deposit to the south, Roxgold's (TSX-V:ROG, StockForum) 55 Zone deposit to the west and SEMAFO's (TSX:SMF, StockForum) Mana deposits to the west and northwest.

 

It went on to note that Burkina Faso has hosted nine new gold mines hit production since 2007 with fourteen recent significant gold discoveries being made during that time and the country is one of Africa's most stable democracies.

 

Goldrush president and CEO, Len Brownlie, commented, “Recent drilling successes by both Roxgold and SEMAFO on structures located immediately west of and adjacent to the Company's Pompoi permit underscore the prospectivity of the Pompoi permit and confirm the advantageous location of this permit.”

 

He then concluded, “While Goldrush remains focused on developing its flagship Ronguen Gold Deposit, we consider Pompoi an excellent target for near term exploration successes.”

 

Goldrush Resources was in the news recently when the company provided a corporate update in the middle of November.

 

Shares jumped 25.00% on the news to $0.025 per share.

 

Currently there are 167.2m outstanding shares with a market cap of $4.2 million.


Tags: GOLD

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