Ocean Park Discovers High-Grade Gold-Silver-Copper Zone - The Green Zone - at Golden Range, Alaska
January 12, 2012 - Vancouver, B.C. Ocean Park Ventures Corp. ("Ocean Park" or the "Company") ( TSX.V: OCP) is pleased to announce the discovery of a new high grade gold-silver-copper discovery - the Green zone - at the Golden Range project, south-central Alaska. Separate grab samples have returned up to 126.5 g/t gold, 198.0 g/t silver, and 17.7% copper.
The Green Zone Target - High Grade Gold-Copper-Silver Discovery
The Green Zone is characterized by widespread copper staining of sheared, quartz-arsenopyrite veined quartz-diorite host rocks. 16 of 29 collected grab samples returned over 1 g/t gold, and 7 returned over 10 g/t gold with a high of 126 g/t gold. 90% of the rock samples returned greater than 0.1% copper and 10% returned greater than 1% copper, with a high of 17.7% copper. High silver values are also present in most samples. Significant results are summarized below.
Table 1: Significant rock sample assay results from Green zone target
The discovery will be mapped and geochemically surveyed in advance of drill testing in 2012. The target was discovered during late season exploration, with preliminary mapping across 300 metres of strike, defined by strong copper plus iron oxide gossans. The target remains open for extension in all directions.
Figure 1: Map of highlighted Golden Range Exploration Results
Golden Range Test Drilling Results
Assay results have also been returned from preliminary drill and bedrock trench tests completed in three additional areas at the Golden Range. Gold-silver mineralization was encountered consistent with peripheral zones to the previously reported high grade Notch discovery. Highlights include:
- Corazon target bedrock trench CZ-TR-01 which encountered 7.5 metres of 3.3 g/t gold and 4.6 g/t silver,
- Matador target drill hole GR-11-08, which encountered 2.7 meters grading 681 g/t silver, and
- City target drill hole GR-11-01 which returned 0.7 metres of 6.2 g/t gold and 6.7 g/t silver
Drilling and trenching at the three new targets intersected numerous zones of similar structurally-hosted and veined quartz-arsenopyrite mineralization to that observed in the 100+ metre alteration envelope surrounding the Notch zone. Results indicate these areas are prospective for significant gold-silver mineralization and require follow-up drill testing in 2012. Complete drill intervals and maps of the Golden Range targets are posted to the Company's website at www.oceanparkventures.com.
Test drilling consisting of two to five drill holes into each of the Notch, City, Matador and Corazon targets totalling 2800 metres was completed in 2011. As previously reported, drilling, trenching and surface grab sampling at the Notch intersected a gold mineralized shear zone with over 1 kilometre of mapped strike, returning drill intercepts up to 6.8 metres of 4.49 g/t gold, which will be definition drilled in 2012 (see Ocean Park news release of November 8, 2011).
Mr. Chris Taylor, M.Sc. P.Geo, is Vice President Exploration with Ocean Park and is the Qualified Person as defined by National Instrument 43-101, who supervised the preparation of the above information.
Drill core assay results are evaluated through a Quality Assurance and Quality Control (QAQC) procedure that includes the use of standards with known precious and base metal values, duplicated core intervals and blank samples in order to determine accuracy. Assaying was carried out by ALS Group of Fairbanks, Alaska.
For further information please contact Mr. Paul Matysek, M.Sc. P.Geo, acting President and Chairman or Mr. Chris Taylor, M.Sc. P.Geo, Vice President Exploration at 604-681-0084.
OCEAN PARK VENTURES CORP.
On behalf of the Board
Paul Matysek, Acting President and Chairman
About the Golden Range Project
The Golden Range project is focused on a new and emerging Alaskan gold and copper-gold porphyry belt of deposits with copper and gold mineralization associated with mid-Cretaceous intrusions of similar age to the Pebble deposit to the west and Orange Hill deposit to the east. At present, the Golden Range project controls approximately 232,000 acres of State of Alaska Mining Claims and land leased from Ahtna Corporation. The Golden Range property has good infrastructure as it sits between two major highways, has access to grid power as well as an extensive winter road network making this a unique development setting in Alaska.
About Ocean Park Ventures
Ocean Park is a well-funded Canadian mineral exploration company working in three leading jurisdictions, with active exploration including diamond drilling underway on 3 properties. Ocean Park can earn a 70% interest through its joint venture in the Trapper Gold project, northern British Columbia, where the Company has identified a large gold-copper porphyry complex. The Company can also earn up to a 70% interest through its joint venture in the Chisna Gold project, south-central Alaska, where a 12+ kilometre gold-in-bedrock and soils target has been identified returning results as high as 260 g/t gold, the Golden Range. A 75% interest can be earned through its joint venture in the Adelita Copper- Gold-Silver project, Sonora, Mexico, where a 10+ square kilometer polymetallic soil anomaly having a porphyry signature includes a copper-gold-silver mineralized, drill-tested skarn.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
Posted: January 12, 2012