High Desert Gold Corporation Joins the OTCQX in the U.S.
February 24 2011 - 7:30AM
Marketwired
High Desert Gold Corporation (TSX VENTURE: HDG) (OTCQX: HDGCF)
("HDG" or the "Company") is pleased to announce that the Company's
common shares have commenced trading on the OTCQX, the top tier of
the broker-dealer quotation services operated by OTC Markets Inc.,
using the ticker symbol, HDGCF. HDG's common shares continue to
trade on the TSX.V under the symbol, HDG.
Ralph Fitch, President and CEO of the Company, stated "That with
OTCQX we expect that U.S. investors will be better served now that
they have an alternative trading platform for our common shares. We
believe that our U.S. investors will now have easier access through
their regulated broker-dealers and will be more comfortable with
their trading transactions knowing that the Company is trading on
OTCQX. This also provides an opportunity for potential new
shareholders to become familiar with a developing gold exploration
company focused on several exciting new projects with potential for
discoveries such as our Gold Springs target in Nevada and San
Antonio Gold Project in Sonora Mexico, both of which we believe
have substantial potential."
Berenbaum Weinshienk PC will serve as HDG's Principal American
Liaison ("PAL") on OTCQX and will be responsible for providing
guidance on OTCQX requirements and compliance with U.S. securities
law.
The following are summary descriptions of the Company's primary
properties that include information that has been previously
released:
Gold Springs (straddles the Utah-Nevada border):
Eighteen drill targets exhibiting greater than one gram per
tonne gold at surface have been identified at the Gold Springs
property and a second round of drilling is planned for this spring
as soon as the snow clears. In 2010, rock geochemistry results were
obtained (examples shown in following table) which were followed by
drilling that demonstrated thick intercepts with gold grades
similar to gold grades publicly announced by such companies as
Kinross Gold Corporation (Round Mountain Mine) and Goldcorp Inc.
(Marigold Mine) which are operating mines in the same region as the
Gold Springs property.
Rock Geochemistry examples previously reported in HDG PR10-18,
Oct. 27, 2010:
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Sample Number Sample Type Gold g/t Silver g/t
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42161 Rock chip 99.5 143.6
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8984 Rock chip 12.0 42.3
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8071 Rock chip 6.08 88.2
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53655 Rock chip 6.27 93.4
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Drill results examples previously reported in HDG PR10-14, Aug.
19, 2010:
-- Completed 11-hole RC drill program in 2010 - results include significant
thicknesses of typical "heap leach" grade mineralization:
-- J-10-3 includes 97.5 m @ 0.63 g/t Au Eq (gold equivalent)
-- Includes intervals totaling 49 metres of greater than 1g/t Au Eq
-- J-10-4 includes 169.16 m @ 0.6 g/t Au Eq
-- Includes intervals totaling 48 metres of greater than 1g/t Au Eq
-- Gold eq based on $1,000/oz Au and $16/oz Ag. Intercepts represent
approximate true thicknesses
San Antonio Gold Project (Sonora, Mexico):
Rock chip sample results showing high grade gold values were
obtained in 2010 (examples shown in following table) and the
Company is presently drilling the project with the first results
expected in March 2011.
Rock chip geochemistry examples previously reported in HDG
PR10-10, May 19, 2010:
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Sample Sample Gold Silver
Number type/length Sample Description (gpt) (gpt)
----------------------------------------------------------------------------
Silicified siltstones with
73897 7.6m chip stringer quartz veins 3.5 22.3
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Skarn, massive black silica with
73900 Grab magnetite 7.14 46.8
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73949 2.1m chip Massive silicified sandstone 3.66 119
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73950 0.9m chip Hematite stained clay 2.57 27.7
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Fault zone, gouge+ limestone rock
73951 0.6m chip fragments 1.82 14.0
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73952 3.1m chip Gossan 1.71 9.6
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Silicified sandstone with thin
73953 0.9m chip quartz veinlets 6.94 31.6
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White vuggy quartz vein with rock
73954 1.22m chip fragments 100 70.5
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73955 0.9m chip Hematite stained quartz vein 8.3 491
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73956 Grab Open spaced white quartz 14.05 81.1
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Open spaced quartz within arkosic
122449 1.52m chip sandstone 12.45 142
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arkosic sandstone
122450 2.74m chip silicification+clay alteration 2.36 6.04
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122451 4.57m chip Silicified arkosic sandstone 2.11 12.25
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122452 2.1m chip Silicified arkosic sandstone 1.65 11.85
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Silicified arkosic sandstone with
122453 2.44m chip rare quartz vein 22.3 46.5
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Massive silicified arkosic
122454 2.44m chip sandstone 23.7 25.2
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Massive silicified arkosic
122455 2.44m chip sandstone 21.3 113
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Massive silicified arkosic
122456 2.13m chip sandstone 44.1 160
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122457 3.66m chip Clay altered arkosic sandstone 2.41 44.2
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122458 2.74m chip Clay altered arkosic sandstone 3.44 16.65
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Silicified limestone with quartz
122460 2.44m chip veinlets 1.315 6.37
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Silicified limestone with quartz
122463 2.44m chip veinlets 3.82 3.42
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122464 2.44m chip Gossan 3.87 18.05
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Silicified limestone with quartz
122465 2.44m chip veinlets 3.45 14.75
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ABOUT HIGH DESERT GOLD
The Company is a mineral exploration company that acquires and
explores mineral properties, primarily gold, copper and silver, in
North America. The major properties held by HDG are the Gold
Springs gold project situated along the border between Utah and
Nevada and the San Antonio project in Sonora, Mexico. The Company
recently completed a financing for gross proceeds of Cdn$3.0
million and has already initiated a drilling program at San Antonio
and will commence drilling in early spring at Gold Springs.
To learn more about High Desert Gold Corporation, please visit
the website: www.hdggold.com.
Certain statements contained herein constitute "forward-looking
statements". Forward-looking statements look into the future and
provide an opinion as to the effect of certain events and trends on
the business. Forward-looking statements may include words such as
"expect", "believe", "potential", "planned", "will", "developing"
and similar expressions. Information concerning the previous
exploration of the Gold Springs and San Antonio property may be
considered forward-looking statements, as such information
constitutes a prediction of what mineralization might be found to
be present if and when a project is actually developed. These
forward-looking statements are based on current expectations and
entail various risks and uncertainties. Actual results may
materially differ from expectations, if known and unknown risks or
uncertainties affect our business, or if our estimates or
assumptions prove inaccurate. Factors that could cause results or
events to differ materially from current expectations expressed or
implied by the forward-looking statements, include, but are not
limited to, availability of sufficient financing to fund planned or
further required work in a timely manner and on acceptable terms,
availability of equipment; equipment malfunctions; changes in
project parameters as plans continue to be refined and other risks
more fully described in the Company's Management Discussion &
Analysis of Financial Position and Results of Operations, which is
available on SEDAR at www.sedar.com and www.otcmarkets.com where
continuous disclosure documents can be viewed. Readers are
cautioned not to place undue reliance on the forward-looking
statements contained in this press release. Except as required by
law, HDG assumes no obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or any other reason.
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.
Contacts: High Desert Gold Corporation Richard Doran Executive
Vice President, Investor Relations (303) 584-0608 (303) 758-2063
(FAX) rdoran@hdggold.com www.hdggold.com
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