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Re: News Release - Tuesday, August 14, 2007
Golden Oasis Finds New 2.5 km-long Geophysical Anomaly at Lone
Ranch Project
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Vancouver, British Columbia ... Golden Oasis Exploration Corp.
(TSX-V:GOT) is pleased to announce that interpretation of its airborne
geophysical survey flown earlier this year has been completed on its
wholly owned Lone Ranch Project within the Republic graben of
north-central Washington. Results show two 1.5 kilometer long
geophysical anomalies in the central and southern portions of the
project area that correlate well with mapped gold-bearing sulfide
zones. A third, previously unknown anomaly was discovered further
north. This anomaly is much larger (2.5 kilometers long) than those to
the south. Permitting of a drilling program to test all 3 anomalies is
currently in progress.
The Helicopter ElectroMagnetic (HEM) survey covered approximately 36
km2 with 100 m line spacing. It was flown by Fugro Airborne Surveys,
Inc. of Houston, Texas. The target is a sulfide-rich horizon, called an
exhalite, deposited on an ancient seafloor. The only known drilling of
this horizon was conducted by Cyprus Minerals and Kennecott in the late
1980's to early 1990's. Their exploration programs identified gold
associated with semi-massive pyrrhotite and arsenopyrite hosted in the
exhalite. They drilled a total of ten holes into the southern edge of
the southern geophysical anomaly. Some historic drill intercepts
include 3.5 feet (1.1 m) of 0.30 oz/ton (10.3 g/t) gold in one hole and
41.5 feet (12.7 m) averaging 0.053 oz/ton (1.8 g/t) gold in another.
These results are historical and cannot be relied upon. The other two
geophysical anomalies have no drilling.
Interpretation of the HEM survey was done by Frank P. Fritz of Fritz
Geophysics, Loveland, Colorado. His summary report on the Lone Ranch
survey will appear on the Golden Oasis website shortly
(www.goldenoasis.ca). A portion of Frank's summary follows:
"The very low resistivity unit interpreted from the HEM data shows a
close correlation with the known exhalative unit. There is
conservatively five kilometers of strike length of exhalative target
interpreted from the HEM data with "hot spots" suggested by thicker -
lower resistivity areas and the higher magnetic responses."
The interpretation shows an originally continuous exhalite has been
separated by post-mineral faulting into 3 separate zones. The exhalite
trends northerly and dips steeply to the west at the south end of the
project, but flattens to the north. As mentioned above, the northern
HEM anomaly is much larger than the 2 anomalies to the south. These
anomalies have dimensions of 1.5 km by 0.5 km whereas the northern
anomaly has dimensions of 2.5 km by 1.0 km.
Richard Kern (P.Geo), President of Golden Oasis, is the Company's
qualified person on the project as required under NI 43-101and has
prepared the technical information contained in this press release.
Golden Oasis is dedicated to the principles of environmentally sound
mining practices and believes that environmental stewardship and mining
can co-exist. For details on the Company and its properties, see SEDAR
at www.sedar.com and the company website at www.goldenoasis.ca.
ON BEHALF OF THE BOARD
Signed "Robert Eadie"
Robert Eadie, Chief Executive Officer and Director
For further information, please contact: Robert Eadie
Telephone: 1-604-602-4935 / Toll Free: 1-866-602-4935
Facsimile: 1-604-602-4936 / Website: www.goldenoasis.ca
The TSX Venture Exchange has not reviewed nor does it accept
responsibility for the adequacy or accuracy of this press release.
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Copyright (c) 2007 GOLDEN OASIS EXPLORATION CORP. (GOE) All rights
reserved. For more information visit our website at
http://www.goldenoasisexploration.com/ or send
mailto:info@goldenoasisexploration.com
Message sent on Tue Aug 14, 2007 at 8:01:17 AM Pacific Time
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