Company News Alert
Golden Hope Mines Completes Its 2010 Diamond Drill Campaign (ccnm)
TORONTO, ONTARIO--(Marketwire - December 21, 2010) - Golden Hope Mines Limited (TSX VENTURE:GNH)(OTCQX:GOLHF) is pleased to announce that it has completed its 2010 diamond drill campaign on the Bellechasse Gold Belt in south eastern Quebec. On December 17th, the company completed 6 diamond drill holes for a total of 1,414 metres at Laval's Mountain, approximately 9.2 kilometres north of Bellechasse-Timmins and within the Bellechasse Belt.
During the 2010 exploration campaign, Golden Hope set out to test Geochemical anomalies along the Bellechasse Belt. The goal of the campaign was two-fold; to extend the gold bearing mineralized zones at the Bellechasse-Timmins gold deposit and to prove the existence of a new gold bearing mineralized belt in south eastern Quebec. The Company's management is pleased to report that both goals were achieved as work progressed at a pace that was above expectations.
The company successfully intersected a Gold bearing structure at Beland, 6.2 kilometres south of the Bellechasse-Timmins deposit. The 6 holes or approximately 1,400 metres at Laval's Mountain would extend the Gold bearing area by approximately 9.2 kilometres to the north. Another drill ready target approximately 6 kilometres to the North, Sugar Bush, is drill ready and will be explored further in the 2011 diamond drill campaign.
The 2010 diamond drill campaign consisted of a total of 66 holes or approximately 16,000 metres. The location of the holes is as follows:
| Location |
Number of Holes |
Number of Meters |
| Bellechasse-Timmins |
57 |
13,991 |
| Beland |
3 |
633 |
| Laval's Mountain |
6 |
1,414 |
| Total |
66 |
16,038 |
Of the 66 diamond drill holes, 16 holes had visible gold and 55 holes had confirmed mineralization. At the Snow White zone, hosted within the 88 Diorite, a total of 20 holes were completed, 17 of which hit mineralization and 10 of which contained visible gold. There are currently a total of 37 holes for which results have not been reported on. The company expects to report the results of these holes when they are received and interpreted.
In addition to the diamond drill program, the company also completed a significant amount of area mapping at the Bellechasse Gold Belt. Approximately 180 square kilometres were mapped. Approximately 1,429 soil samples were sent to Activation Laboratories in Ancaster Ontario for Soil Gas Hydrocarbon analysis. Approximately 1,100 of those samples were in the direct vicinity of the Bellechasse-Timmins deposit. Please see the map link below or go to http://goldenhopemines.com/_resources/maps/timmins_geochem_dec_20_2010.pdf
The drill has been moved back to Bellechasse-Timmins in preparation for hole BD2010-150. The hole has been collared and the drill crew is expected to return on January 11, 2011.
Frank Candido, President of Golden Hope Mines states: "We would like to thank our sub-contractors and field team for making 2010 the most successful exploration campaign to date. With the funds raised on December 17th at an almost 60% premium over the previous day's closing price, Golden Hope is well poised to deliver the first ever gold resource estimate to south eastern Quebec. We look forward to resuming our diamond drill campaign on January 11th, 2011."
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.
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