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Golden Hope Reports 380.8 Metres of 0.61 g/t Au in T1 Zone from its 2011 Drilling Program at the Timmins-Bellechasse Gold Project in Quebec
TORONTO, Sept. 12, 2011 /PRNewswire via COMTEX/ --
GNH: TSX Venture GOLHF: OTCQX
Golden Hope Mines (TSXV: GNH)(OTCQX: GOLHF) is pleased to announce that it has drilled 380.8 metres grading 0.61 g/t Au (uncut) or 0.55 g/t (cut) on its first completed hole, BD2011-157, of the summer drill campaign on the Bellechasse Gold Belt.
The hole includes the following significant intersections:
Hole Number From(m) To(m) Length(m) g/t (uncut) g/t (cut to 20g/t)
BD2011-157 1.2 69.0 67.8 0.53 0.53
Including 8.0 24.0 16.0 1.01 1.01
Including 58.0 69.0 11.0 1.12 1.12
94.0 123.0 29.0 0.66 0.66
Including 106.0 123.0 17.0 0.83 0.83
177.0 237.0 60.0 0.52 0.52
Including 179.0 188.0 9.0 1.53 1.53
333.0 382.0 49.0 2.53 2.05
Including 333.0 339.0 6.0 10.13 9.07
Including 354.0 358.0 4.0 10.27 6.02
According to preliminary geostatistical analysis of the T1 data, the outliers (2 one meter samples) have been cut to 20 g/t for the calculation of the cut average grade.
The diamond drill hole is located between BD2003-12 and BD2006-50 and was drilled at an azimuth of 139 degrees inclined at 80 degrees and was stopped at 467m depth. See map posted on the Company website at www.goldenhopemines.com/_resources/explorations/summer_2011/cross_section.pdf
"We are extremely pleased with the results of this first hole from the summer drill campaign. We have always believed that the deposit held great potential for mineralization to depth and we believe that this hole, particularly the assay results from the deeper portion of the hole, helps to support that belief in a significant manner" states Frank Candido, President, Golden Hope Mines Limited.
A table of the complete results as well as a cross section has been posted to the company"s web site at www.goldenhopemines.com/exploration/bellechase_timmins_gold/results/campaign_summer_2011/
On May 19th , the Company announced the commencement of its summer drill campaign. The program originally called for an initial 2500 metres in 6 holes. The Company has completed drilling the 6 holes originally proposed. On August 19th the drill campaign was extended by an additional 2000 metres. The drill is currently on the 7th hole of the SGS series (BD2011-163).
Golden Hope Mines Limited retained SGS Canada-Geostat, as independent technical advisors to the Company. SGS designed this drill program to test past results and to further test the T1, T2 and 88 zones to depth.
More precisely, the objectives of the first phase of the program of oriented NQ core drilling are:
1) Identifying and measure mineralized veins structures.
2) Testing extensions of the diorite at depth, which contains the
mineralized veins.
3) Better defining the main mineralized zones to assess grade variability
and select samples for mineralogical and metallurgical tests.
Independent sampling has confirmed mineralization near surface and its extension to depth on the section in question. On that section, the T1 Diorite has been drilled to a vertical depth of about 390 meters.
Samples were prepared and analyzed at SGS Minerals Services of Toronto, Ontario (Don Mills laboratory). Analysis for gold was done on one half of core samples following FAI525 fire assay routine.
Quality Assurance and Quality Control (QA/QC):
SGS introduced standards and blanks in the sequence. These blanks were null and these standards were within acceptable limits (10% of expected value).
SGS"s independent QP"s, Claude Duplessis and Claude Bisaillon are responsible for the first phase of the exploration program as defined by National Instrument 43-101.
James E. Tilsley, P.Eng is acting as the qualified person (QP) for Golden Hope Mines in compliance with National Instrument 43-101 and has reviewed the technical contents of this press release.
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