Dallas, Texas (June 30, 2011) – StockGuru focuses on Greenwood Gold Resources Inc. (OTCBB-GGRI) as it announces an update on its Summer Mining Property located in the Quesnel Trough Area in British Columbia. The Summer Property has become the Company’s main focus of exploration, as the Quesnel Trough has produced extremely promising results in this Gold producing region, especially copper-gold alkalic porphyry deposits. Greenwood Gold Resources Inc. closed on July 29, 2011, at $0.0532 trading on volume of roughly 70 million shares.
The Quesnel Trough is an elongated package of distinctive rocks that stretches from southern to northern British Colombia. This belt is highly prospective for copper-gold alkalic porphyry deposits and is the location of many operating mines and mines in development. Historical production from alkalic porphyry deposits in the main five mining areas in the Quesnel Trough totals about 3.5 billion pounds of copper and 4.7 million ounces of gold.
It is the focus of the vast majority of copper-gold porphyry exploration in the province. Many companies, from junior exploration companies through to majors such as Gold Fields and Xstrata, are actively exploring the favorable results associated within this area.
Companies exploring in proximity of the Company’s Summer Property include in part, the following:
GWR Resources has been actively exploring copper-gold porphyry and skarn deposits with a 15,000 meter drill program announced for this field season; Gold Fields is actively exploring the Woodjam JV property and can earn a 70% interest in the Woodjam JV by spending $19 million.
Imperial Metal’s Mount Polley property, to the north of the Summer Property, has been an active producer for many years. At Mount Polley, current reserves are 309 million pounds of copper and 386,000 ounces of gold which, at today’s prices, indicate values of over $1.7 billion.
Historic exploration on the Summer Property has focused primarily on copper-gold alkalic porphyry mineralization. Drilling to date has shown that within the chargeability anomaly intersected 21 m of 0.184% Cu. This demonstrates that rocks within the chargeability have the potential to host porphyry copper mineralization.
Greenwood Gold Resources is looking forward to implementing a complete drill program based on the results of work completed to date, which is more specifically outlined in the latest Technical report which can be found on the corporate website: www.greenwoodgoldresources.com
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Greenwood Gold Resources, Inc. (“GGRI”) is a junior exploration company focused on exploration for gold and other valuable minerals deposits in Canada and US. The company is focused on acquiring, developing and joint venturing with other junior or major gold mining companies with properties within North America. GGRI has developed a set strategy to acquiring gold and other valuable mining properties following several key investment criteria. It will look for assets ranging from grass roots exploration to near production. GGRI will look to have a balanced portfolio of properties across this spectrum so as to maximize returns while also mitigating risk.
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