ST. CATHARINES, ONTARIO--(Marketwire - Dec. 15, 2011) - Currie Rose Resources Inc. (TSX VENTURE:CUI)(PINKSHEETS:CUIRF) ("Currie" or "the Company") is pleased to provide a corporate update and information on drilling activities at the Mabale Hills and Sekenke Projects situated in the Lake Victoria Greenstone Belt of Tanzania, East Africa.
Mabale Hills Prospect
The Company has now completed an extensive Rotary Air Blast (RAB) drilling program at Sisu River including some drilling at a prospective area approximately two kilometres to the north. Work consisted of 69 RAB holes totalling 1,989 metres to a maximum depth of 40 metres (inclined). To date, results from 44 drill holes have been received from this program but no gold intercepts of significance were encountered despite encouraging visual readings. Results from the remaining 25 holes are pending.
Work completed by Currie during previous exploration at Sekenke identified a number of significant surface anomalies coupled with outcropping quartz veins and coincident artisanal miner pits and minor excavations as well as coincident interpreted satellite zones of alteration. Sekenke is a large land package that covers nearly 300 square kilometres and surrounds and runs in between two past producing historic mines.
A total of 95 RAB holes totalling 2,369 metres to a maximum depth of 40 metres were drilled at Sekenke during the late summer/early fall over various surface anomalies (an area approximately 2,000 metres in length and 1,000 metres wide) that Currie has defined to date. As with Sisu River, holes were drilled "heel to toe" on grid fences to ensure continuous coverage across the anomalies. While results returned no significant intercepts, this limited drill program was the first drilling Currie has undertaken at Sekenke and the Company still considers this property to hold strong discovery potential given the geology and history of the general area.
Currie Rose, which has been a publicly traded company for nearly 40 years, is examining several resource properties of merit in various jurisdictions for a potential project acquisition. The Company has current working capital of $1.1 million with no debt.
"While we have quality assets in Tanzania that do warrant additional exploration - we've established a strong presence there over the last six years - we believe it's time to pursue new opportunities elsewhere around the globe and we have already started that process," explained President and CEO Harold Smith. "We have limited overhead expenses, so our current cash position is more than adequate to fund our needs going into 2012 as we look to expand our project portfolio beyond Tanzania and build shareholder value. The drilling season is short in Tanzania, so that's another consideration. We thank our shareholders for their loyal support and we look forward to an exciting 2012."
The planning, execution and monitoring of quality control programs at the Sisu River project are under the supervision of Michael Griffiths, BSc Dip Ed, FAusIMM, GAICD. Mr. Griffiths, a Currie Rose Director, is the qualified person as defined by National Instrument 43-101. Currie utilizes an industry standard QA/QC protocol with respect to sampling procedures. Blanks and certified reference standards are inserted into the sample stream to monitor laboratory performance and duplicates of pulps and bulk rejects are also used to monitor laboratory performance.
Additional information and public documents about Currie can be viewed at the Company's website www.currierose.com or at www.sedar.com.
BY ORDER OF THE BOARD OF DIRECTORS OF CURRIE ROSE RESOURCES INC.
Harold Smith, President
The technical information in this News Release has been reviewed and approved by Michael Griffiths MAusIMM, a qualified person as defined by National Instrument No. 43-101, and a Director of Currie Rose Resources Inc. and Executive Director of Chalice Gold Mines Limited.
"This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the and properties and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation."
Neither the 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.