Post by Franko10 ™ on Feb 22, 2005 20:52:27 GMT -5
GOLDEN ARCH RESOURCES LTD.
#928 – 470 Granville Street, Vancouver, BC V6C 1V5
Phone: (604) 681-8222 Fax: (604) 681-8282
Exemption 12g3 - 2(b)
SEC File # 82-659
GAI: TSX Venture
GARCF: O.T.C
#928 – 470 Granville Street, Vancouver, BC V6C 1V5
Phone: (604) 681-8222 Fax: (604) 681-8282
Exemption 12g3 - 2(b)
SEC File # 82-659
GAI: TSX Venture
GARCF: O.T.C
Placeritos Agreement Signed
and Submitted to TSX for Approval
August 26, 2003 – Golden Arch Resources Ltd. (GAI –TSX V) and United Bolero
Development Corp. (UNB-TSX V) are pleased to announce the final agreement has been completed whereby United Bolero Development can earn a 51% interest in the Placeritos (Southern Gold) Project on the Company’s Mildred Peak Property, Pima County, Arizona.
The terms of the agreement, previously announced in Golden Arch’s news release of
March 27, 2003, provide for the payments of cash and stock, and the financing of work
programs as follows:
www.sedar.com/csfsprod/data39/filings/00567326/00000001/a%3A%5CAug26.pdf
Hand trenching, undertaken in the spring of 2003, by Golden Arch, has indicated two very significant zones in the Amado Area, the Michelle and the Rachel Zones. Eleven hand trenches have been dug on the strike of the Michelle Zone. The (trench-length) weighted average of eight of these trenches was 0.335 oz/t Au (11 g/T Au) over a strike length of approximately 95 meters. The average width of the significant mineralized section in the eight trenches is 8.25 meters. All of the trenches dug on the Rachel zone were anomalous in gold. The best results of the trenching in this area returned a trench length of 16 meters of 5.8g Au/T (0.169 oz Au/t). Both zones need to be mechanically trenched or stripped to confirm the hand trenching and to confirm strike and dip of the zones, prior to commencing a drilling program. The initial exploration program, scheduled to proceed this fall, will include mechanical trenching, geological mapping, sampling and diamond drilling to further develop the Michelle and Rachel zones, as well as at least two other strong rock chip geochemical anomalies further south on the Placeritos property. Golden Arch Resources is the Operator on the project. The agreement is subject to regulatory approval.
The 2003 sampling program on the Mildred Peak Property took place under the direction and supervision of Mr. R. Somerville, P.Eng., a Qualified Person under the meaning of National Policy Instrument 43-101. Mr. Somerville is aware of and approves the content of this News Release.
On behalf of the Board of Directors of Golden Arch Resources Ltd.
“Les Kjosness”<br>President