GNH: TSX Venture
TORONTO, Sept. 28, 2011 /PRNewswire/ - Golden Hope Mines (TSXV: GNH) (OTCQX: GOLHF) is pleased to provide an exploration update on its summer 2011 diamond drill campaign in Southeastern Quebec, Canada. The initial program was for 6 holes or approximately 2800 metres and was subsequently extended by 2 holes for a total of approximately 4100 metres. The company had contracted Forages Mercier of Val D'Or, Quebec for 4800 metres.
SGS Canada Inc.-Geostat, independent technical advisors to Golden Hope and in close co-operation with the GNH technical team, designed the initial drill program to verify past results and to further test the T1, T2 and 88 zones to depth.
The company has completed the 8 initial holes. A table of the holes and the depth of the holes is presented below.
|Hole ID||Drill Length (m)||Zone|
Hole BD2011-157 has been assayed and results were released to the market on September 12, 2011. Holes BD2011-158 and 159 have been cut and sent out for assaying to SGS Minerals Services in Toronto, Ontario. The remaining holes are currently being logged. Samples are being cut and will be sent for assaying as each hole is completed.
The company will announce its results as they are received from the assay laboratory, compiled and interpreted.
A map of the completed drill holes is available on the company's web site at http://goldenhopemines.com/exploration/bellechase_timmins_gold/results/campaign_summer_2011/
While the company waits for the results from the initial 8 holes, Golden Hope is pleased to announce that drilling has begun on the Champagne Zone. The Champagne Zone is located approximately 3.5 kms north of Bellechasse-Timmins and located within the Bellechasse Belt.
In a continued effort to identify, explore and define new targets along the Bellechasse Belt, Golden Hope has selected the Champagne Zone as its next high priority target. GNH along with SGS Geostat believes that the Bellechasse Belt holds great potential for many significant deposits. The Belt has largely gone un-explored with the exception of the Bellechasse-Timmins Zone. For example, on June 23, 2010, the company was successful in confirming the existence of the Beland Zone, approximately 6.2 km south of the Bellechasse-Timmins Zone and within the Bellechasse Belt. A copy of that press release can be viewed on the company's web site at http://goldenhopemines.com/_resources/news_releases/Beland%20PR%20Final.pdf.
The Champagne Target is a partially explored base metal and gold deposit that lies within the Company's Bellechasse Belt claims. Previous work outlined a non-43-101 compliant historic estimate of 250,000 tonnes of massive and disseminated sulphides averaging 2.7% zinc, 2.4g/t gold, 0.40% copper, 0.45% lead, and 19.7g/t silver (Paradis, Bossé and Gauthier, 1995 Report from the Centre Geoscientifique de Quebec referencing Bergman-1954).
A qualified person has not done sufficient work to classify the historical estimate as current mineral resource or mineral reserve and should not be relied upon and therefore Golden Hope is not treating the historical estimate as current mineral resource or mineral reserve. A copy of the report can be found on the company's web site at http://goldenhopemines.com/exploration/champagne_zone/.
The mineralized zone is open down-dip and along strike to both the northeast and the southwest. The potential mineralization is described as lying near the base of the Beauceville Formation in a stratigraphic horizon that extends northeast-southwest through the region. The current exploration program is designed to investigate approximately 4km of this horizon within the Bellechasse Belt claims held by the Company. Diamond drilling is already in progress.
The potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
The Champagne drill program currently calls for 7 holes or approximately 1200 metres. A map of the location of the Champagne Zone is available on the company's web site at http://goldenhopemines.com/exploration/champagne_zone/.
Golden Hope Mines is also pleased to announce that it has extended its diamond drill campaign by an additional 2000 metres to accommodate the Champagne drilling. Golden Hope will continue to use the services of Forages Mercier of Val D'Or Quebec.
James E. Tilsley, P.Eng is acting as the qualified person (QP) for Golden Hope in compliance with National Instrument 43-101 and has reviewed the technical contents of this release.
This news release contains certain forward-looking information as defined in applicable securities laws (referred to herein as "forward-looking statements"). Specifically, this news release contains forward-looking statements regarding the drill results being incremental to current potential. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Golden Hope's ability to predict or control and may cause Golden Hope's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. Golden Hope undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.
About Golden Hope Mines Limited:
Golden Hope is a mineral exploration company that seeks to grow shareholder value through the acquisition, exploration and development of potentially large-scale gold and base metal projects suitable for underground and/or open-pit mining. The company's focus is in southeastern Quebec, Canada. The company's claim blocks lie within an area that extends approximately 100 kilometres along the Appalachians of southern Quebec from near Ste-Lucie-de-Beauregard to about 16 kilometres southwest of Beauceville. The Bellechasse-Timmins gold deposit lies 5 kilometres southeast of St-Magloire within the Bellechasse Belt an approximately 18 kilometre long mineralized area. The Bellechasse-Timmins gold deposit includes the T1, T2A, T2B, Ascot/Road gold zones, and eight known parallel gold-bearing breccias in the adjoining 88 Diorite. The company is also working to develop other targets within its claim blocks including the FSG gold and base metal target, the St-Luc (Roux) target, Chute du Bras, the LG showing, Moose Cliff, and Talon. For further information on Golden Hope Mines Limited please visit www.goldenhopemines.com.
Public Relations Canada: Paradox Public Relations
Investor Relations USA:
American Capital Ventures
Richard Hull: 305-918-700
SOURCE Golden Hope Mines Limited