Post by Franko10 ™ on Mar 9, 2006 14:19:57 GMT -5
Golden Arch Completes Mildred Peak, Arizona Acquisition
09:51 EST Thursday, March 09, 2006
GAI: TSX Venture GARCF: O.T.C
VANCOUVER, March 9 /PRNewswire-FirstCall/ - The Board of Directors of Golden Arch Resources Ltd. is pleased to announce that it has completed the transaction with Altar Resources of Arizona whereby the Company is now the 100% owner of the Mildred Peak, gold/silver/copper property previously held under a lease agreement with Altar.
Title is in the name of Golden Arch Resources Ltd.'s wholly owned subsidiary, Golden Arch Metals, Inc., a Nevada corporation licensed to do business and hold mineral titles in the State of Arizona. The lease agreement was executed in March 2002 and the Company fulfilled its exploration commitments by March 31, 2005. Altar continues to hold a royalty interest of the lessor of $20,000 per annum, a 1% NSR or a 20% NPR both before and following commencement of commercial production.
The Mildred Peak property is comprised of both State and Federal mineral claims located approximately 105 km's South of Tucson, Arizona and encompasses approximately 3,800 hectares. Golden Arch has recently completed Phase I of a planned multi-phase diamond (core) drilling program initially designed to test two of the fifteen targets identified previously through surface geology and mapping, trenching, geophysics. Results of all previous work are available on the Company's website.
The Phase I results were particularly encouraging and we direct readers to our news releases of November 24, 2005 and January 24, 2006. The November release deals with the Jupiter zone and the January, the Amado zone. The Company's geologist is compiling the Amado results and, we anticipate being able to report on these by March 31, 2006.
Phase II will test any possible extensions to mineralized zones uncovered in Phase I and includes initial drilling on the Bonnie zone.
On behalf of the Board of Directors
"Les Kjosness"
President and Director
The Company's exploration program is under the supervision of R.D. Somerville, P. Eng., 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 asset is the Mildred Peak Copper, Gold and Silver property located in Arizona, USA acquired in 2001.
"The TSX Venture Exchange assumes no responsibility for the accuracy of
this Release and neither approves nor disapproves thereof."
Suite 928 - 470 Granville St., Vancouver, B.C. V6C 1V5
Tel: (604) 681-8222: Fax (604) 681-8282
info@goldenarchresources.com
SOURCE Golden Arch Resources Ltd.
For further information: Suite 928 - 470 Granville St., Vancouver, B.C. V6C 1V5, Tel: (604) 681-8222, Fax (604) 681-8282, info@goldenarchresources.com
09:51 EST Thursday, March 09, 2006
GAI: TSX Venture GARCF: O.T.C
VANCOUVER, March 9 /PRNewswire-FirstCall/ - The Board of Directors of Golden Arch Resources Ltd. is pleased to announce that it has completed the transaction with Altar Resources of Arizona whereby the Company is now the 100% owner of the Mildred Peak, gold/silver/copper property previously held under a lease agreement with Altar.
Title is in the name of Golden Arch Resources Ltd.'s wholly owned subsidiary, Golden Arch Metals, Inc., a Nevada corporation licensed to do business and hold mineral titles in the State of Arizona. The lease agreement was executed in March 2002 and the Company fulfilled its exploration commitments by March 31, 2005. Altar continues to hold a royalty interest of the lessor of $20,000 per annum, a 1% NSR or a 20% NPR both before and following commencement of commercial production.
The Mildred Peak property is comprised of both State and Federal mineral claims located approximately 105 km's South of Tucson, Arizona and encompasses approximately 3,800 hectares. Golden Arch has recently completed Phase I of a planned multi-phase diamond (core) drilling program initially designed to test two of the fifteen targets identified previously through surface geology and mapping, trenching, geophysics. Results of all previous work are available on the Company's website.
The Phase I results were particularly encouraging and we direct readers to our news releases of November 24, 2005 and January 24, 2006. The November release deals with the Jupiter zone and the January, the Amado zone. The Company's geologist is compiling the Amado results and, we anticipate being able to report on these by March 31, 2006.
Phase II will test any possible extensions to mineralized zones uncovered in Phase I and includes initial drilling on the Bonnie zone.
On behalf of the Board of Directors
"Les Kjosness"
President and Director
The Company's exploration program is under the supervision of R.D. Somerville, P. Eng., 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 asset is the Mildred Peak Copper, Gold and Silver property located in Arizona, USA acquired in 2001.
"The TSX Venture Exchange assumes no responsibility for the accuracy of
this Release and neither approves nor disapproves thereof."
Suite 928 - 470 Granville St., Vancouver, B.C. V6C 1V5
Tel: (604) 681-8222: Fax (604) 681-8282
info@goldenarchresources.com
SOURCE Golden Arch Resources Ltd.
For further information: Suite 928 - 470 Granville St., Vancouver, B.C. V6C 1V5, Tel: (604) 681-8222, Fax (604) 681-8282, info@goldenarchresources.com