Golden Hope announces Additional Gold Assays from its
Bellechasse-Timmins Gold Deposit
TSX VENTURE: GNH
Pink Sheets: GOLHF
MONTREAL, Jan. 17, 2013 /CNW/ - Golden Hope Mines (TSX VENTURE: GNH)(Pink
Sheets: GOLHF) - Golden Hope Mines Limited is pleased to
announce the latest results from the 2012 drill campaign on the
Bellechasse-Timmins Gold Deposit in southeastern Quebec. The drill holes confirm and improve
the confidence of its resource and further extend mineralised zones
(88 Zones) at surface.
The company is pleased to present the following table of
highlights from eight holes.
Hole Number |
From |
To |
Length (m) |
Au (g/t) |
BD2012-137d |
481 |
497 |
16 |
1.66 |
Including |
494 |
495 |
1 |
9.86 |
BD2012-154d |
339 |
340 |
1 |
1.48 |
BD2012-195 |
9 |
11 |
2 |
0.87 |
BD2012-195 |
188 |
278 |
90 |
0.59 |
Including |
188 |
208 |
20 |
1.21 |
Including |
215 |
222 |
7 |
1.03 |
Including |
232 |
238 |
6 |
1.03 |
Including |
271 |
273 |
2 |
2.57 |
BD2012-195 * |
336 |
337 |
1 |
144.0 |
BD2012-196 |
74 |
87 |
13 |
0.71 |
BD2012-197 |
67 |
68 |
1 |
1.13 |
BD2012-197 |
98 |
99 |
1 |
2.09 |
BD2012-198 |
109 |
114 |
5 |
0.31 |
BD2012-199 |
143 |
153 |
10 |
0.64 |
Including |
146 |
147 |
1 |
4.30 |
BD2012-200 |
191 |
201 |
10 |
0.66 |
Including |
191 |
192 |
1 |
2.68 |
Including |
199 |
200 |
1 |
1.82 |
Table 1: Highlights from Bellechasse-Timmins
holes; length are core lengths and results are not
capped.
*= previously reported in the November 7, 2012 news release
(nr_2012_11_07.pdf).
"We are very pleased with these latest results as they not only
confirm the previous results announced on the Bellechasse-Timmins
gold deposit but also extend the 88 zones near surface" states
Frank Candido, President, Golden
Hope Mines Limited.
Of the 21 holes drilled in the fall 2012 drill campaign, eleven
(11) were drilled in the Bellechasse-Timmins gold deposit and ten
(10) on other targets on the Bellechasse-Timmins claims block which
are still pending.
Drilling on the Bellechasse-Timmins gold deposit area aimed at
improving confidence in the resource model; to better define the
mineralized structures and to extend the 88 zones to the east close
to surface. Holes BD2012-137d and BD2012-154d were extensions of
the existing holes, BD2012-195 was a new hole, while holes
BD2012-196 through 200 were all near surface holes drilled to
extend the 88 zones.
- Holes BD2012-137d and 154d both cut mineralized diorites and
improved confidence in the resource estimate. Hole BD2012-137d
confirmed the previously interpreted mineralized zone with a
horizontal true width of 14 meters. Hole BD2012-154d tested the
extension of the Ascot mineralization down to 305 meters
depth.
- Hole BD2012-195 was drilled two sections to the northwest of
the "magic core" in hole BD2011-167 which yielded 6140 g/t gold
over 1 meter. The hole confirmed the mineralized envelope and
tested the lateral extent of the "jewellery zone" of the 167 holes
(BD2011-167, BD2011-167a and BD2012-167b). The 90 meter long
interval grading 0.59g/t Au confirming the presence of the
mineralized envelope. Its steep and somewhat oblique drilling
angle explains the 90 meter long interval; on section and it
matches the 55 meter intervals of the 167 holes (
http://www.goldenhopemines.com/_resources/news_releases/nr_2012_03_05.pdf)
. The high grade, 144g/t Au, result from 336 to 337 meters is
interpreted as the lateral extension of the original "magic core"
of BD2011-167. Further drilling will be required to better
define its orientation and extent.
- BD2012-196, 197, 198, 199 and 200 were drilled at the eastern
extension of the 88 Zones at shallow depths to extend its
mineralized surface to the east and to depth. BD2012-196 and
197 intersected the mineralized envelope below BD2012-188 and 193
respectively. Holes BD2012-198 and 199 were drilled on
section 70 metres away and encountered the mineralized envelope
that extended the 88 Zones eastward. The drill was then moved south
along the same section and hole BD2012-200 intersected the same
envelope down dip.
- Holes BD2012-201, 202 and 203 were drilled 500 meters southwest
of the Bellechasse-Timmins gold deposit to test targets however
there were no significant results.
- Samples for Au were prepared and analyzed at Actlabs in
Ancaster, Ontario. Analysis for
gold was done on one half of core samples following Fire Assay
Gravimetric method including a specific sample preparation. For
QA-QC purposes, blanks were introduced by GNH prior to shipping and
in addition ActLabs introduced standards and blanks in the sequence
during sample preparation.
Claude Duplessis, Eng and Claude Bisaillon, Eng. are qualified
persons (QP) in compliance with National Instrument 43-101 and have
reviewed the technical contents of this press release.
About Golden Hope Mines Limited:
Golden Hope Mines Limited 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 the 88 Diorite. The company is also
looking to develop the Champagne zone, a partially explored base
metal and gold deposit that lies within the Company's Bellechasse
Belt claims. A recently completed VTEM survey may identify other
similar targets along the horizon. The company is also working to
develop other targets within its claim blocks including the FSG
gold and base metal target, Chute du Bras, the LG showing, Moose
Cliff, and Talon. For further information on Golden Hope Mines
Limited please visit www.goldenhopemines.com.
Statements Regarding Forward-Looking
Information: Information set forth in this news release
by Golden Hope Mines Ltd. may contain forward-looking
information within the meaning of Canadian securities laws.
Forward-looking information includes statements that relate to
future, not past, events. In this context, forward-looking
information often addresses the Company's expected future business
and financial performance, and often contains words such as
"anticipate", "believe", "plan", "estimate", "expect" and "intend",
statements that an action or event "may", "might", "could",
"should" or "will" be taken or occur, or other similar expressions
(including negative and grammatical variations). Such information
includes plans, timing and expectations for updates of the
Company's resource estimate; expectations regarding the Company's
planned exploration activities and budget; the timing for receipt
of drilling and assay results; and plans for further exploration
and drilling at Bellechasse-Timmins and Champagne/VMS and other
targets along the Bellechasse Belt. By their nature,
forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause the Company's
actual results, performance or achievements, or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking information. Such factors include, among others,
the following risks: the risks associated with any outstanding
litigation; risks associated with exploration activities and
project development; timing of and unexpected events regarding the
receipt and interpretation of drilling and assay results; delays in
the preparation of resource estimate updates; the need for
additional financing; operational risks associated with mineral
exploration; fluctuations in gold and other commodity prices; title
matters; technical and permitting issues; environmental liability
claims; insurance matters; reliance on key personnel; the potential
for conflicts of interest among certain officers, directors or
promoters with certain other projects; the absence of dividends;
competition; dilution; the volatility of our common share price and
volume; the impact of taxation; and general economic conditions.
Forward-looking information is based on management's beliefs,
estimates and opinions on the date hereof and the Company
undertakes no obligation to update any forward-looking information
if these beliefs, estimates and opinions or other circumstances
should change. Investors are cautioned against attributing undue
certainty to forward-looking information.
Any historical mineral quantities set forth
herein are, unless otherwise indicated, not compliant with National
Instrument 43-101.
SOURCE Golden Hope Mines Limited