VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2007) - Molycor Gold Corp. (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FRANKFURT:M1V) and Goldrea Resources Corp. (TSX VENTURE:GOR)(PINK SHEET:GORAF)(FRANKFURT:G0J) are pleased to announce results from the diamond drill program carried out on the Crowrea Molybdenum project, located 15 km south of the past producing Brenda copper/moly open pit mine.
The drill program consisted of 10 holes totaling 712 meters (2338 feet) to identify along near surface, the northwest striking, north east dipping dyke structure which is now extended 100 meters beyond the "Noranda showing" for a total length of over 650 meters with intersections containing mineralization thus far. The dyke is open to the northwest.
Significant assays are as follows:
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Hole # Meters Feet Mo%
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DDH 07-01 1.21-1.37 4-4.5 0.148
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16.4-17.0 54-56 1.00
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30.7-31.4 101-103 0.412
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33.5-34.1 110-112 0.046
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44.5-45.1 146-148 0.152
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DDH 07-03 20.4-21 67-69 1.11
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DDH 07-05 50.6-53.6 166-176 0.148
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Due to pinching and swelling of the mineralization contained within the dyke, 4 holes were weakly or not mineralized but did identify the width and consistency of the dyke strike length. Two holes missed their intended target, one angled toward another possible fault and one targeted the opposing side of the dyke. Additional core splitting and assaying is planned.
During geological reconnaissance rock sampling while on the property, the field geologists discovered a significant pyrite outcropping in an area beyond previously explored area within the property. This outcropping has been identified as a possible pyrite halo, which typically borders larger porphyry type deposits.
This grab sample assayed 3.14% per tonne zinc and 6.9 grams/tonne silver. Further examination of this new discovery is currently underway.
Assays were conducted by Echo Tech Laboratories, located in Kamloops, B.C. This news release was reviewed by Dick Addison, P. Eng., a qualified person recognized under NI 43-101.
On Behalf of Management
Edward Lee, President and Director
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This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein 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 expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
FOR FURTHER INFORMATION PLEASE CONTACT:
Molycor Gold Corp.or
Edward Lee
President and Director
(604) 531-9639
Email: info@molycor.com
Website: www.molycor.com
Goldrea Resources Corp.
Larry Reaugh
President and CEO
(604) 531-9639
(604) 531-9634 (FAX)
Email: info@goldrea.com
Website: www.goldrea.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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