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Golden Hope Mines Announces Additional Gold Results from Bellechasse-Timmins
By Joel Scanlon
Golden Hope Mines, a mineral exploration company, has reported additional results from the 2011 drilling program conducted at Bellechasse-Timmins, located in Southeast Quebec. The company has encountered positive results from the holes BD2011-174, 175, 176 and 177.
The company intersected 10.18 g/t gold over 5 m, 7.37 g/t gold over 7 m, 3.08 g/t gold over 25 m and 2.01 g/t gold over 32 m in hole BD2011-174, 2.59 g/t gold over 7 m, 2.00 g/t gold over 7 m in hole BD2011-175, 35.60 g/t gold over 1 m and 1.69 g/t gold over 27 m in hole BD2011-176, 2.94 g/t gold over 2 m, 2.16 g/t gold over 4 m and 1.68 g/t gold over 7 m in hole BD2011-177.
According to Golden Hope Mines’ President, Frank Candido, these significant drilling results have validated the extensive mineralization located at Bellechasse-Timmins. The company is delighted with the amount of significant data and continues to collect, as the company moves close to the resource estimate’s primary objective at Bellechasse-Timmins.
The company prepared and tested the samples at SGS Minerals Services, based in Ontario. The samples were analyzed for gold on one half of the core samples and FAI525 fire assay was conducted.
Source: http://www.goldenhopemines.com/
Discussion The drill results released today have extended the potential drill tested strike by 200 metres to the south of known mineralization at the Friday zone. The grades remain consistent with previously released drill holes and help to confirm our potential ounce estimate of 1.5 million ounces at Friday-Petsite. Overall, these results help to build towards our total estimate of 2.7 million potential ounces. We view this as a positive development for the Idaho Gold project and in particular the Friday zone as it continues to demonstrate that mineralization could extend further south. We are anticipating assays from the current drilling in the coming weeks as results for only 25% of the holes drilled to-date have been released. Using a probability-weighted calculation, we currently estimate that Premium Exploration has potential for 2.7 million ounces of gold. We maintain our Strong Buy recommendation and our 12 month price target $1.70 per share.
http://www.goldenhopemines.com/_resources/presentations/GNH_Presentation_Feb_20_2012.pdf
SGS supports a plan for an extensive exploration program of the Bellechasse Belt: potential to produce other gold discoveries within the Belt. Summer-Fall 2011: Two drills running, a first for GNH and the region of southeastern Quebec. 2011 Drilling: 15,000 meters in 47 holes Assays for 24 holes are pending 2012 Drilling: Approximately 3,000 meters in 6 holes
http://money.cnn.com/2012/02/03/pf/states_currencies/
NEW YORK (CNNMoney) -- A growing number of states are seeking shiny new currencies made of silver and gold.
Worried that the Federal Reserve and the U.S. dollar are on the brink of collapse, lawmakers from 13 states, including Minnesota, Tennessee, Iowa, South Carolina and Georgia, are seeking approval from their state governments to either issue their own alternative currency or explore it as an option. Just three years ago, only three states had similar proposals in place.
Funny money: 11 local currencies
Of all the state proposals circulating right now, Republican-controlled states including South Carolina, Georgia, Idaho and Indiana have the best chance of passing their proposed bills this year, said American Principles Project's Danker. If just one or two states implement an alternative currency, it could have a Domino effect, he said.