GNH: TSX Venture
VANCOUVER, May 18 /CNW/ - Golden Hope Mines (TSXV: GNH) (OTCQX:GOLHF) is
pleased to report assay results from its 2011 winter gold exploration
campaign on the Bellechasse gold belt in south eastern Quebec.
From November 16, 2010 to February 8, 2011 Golden Hope Mines Limited
completed 11 holes totaling 3454.5 meters to further evaluate the Ascot
/ Road, T1 and T2 zones.
Significant intersections include;
1.40 g/t Au over 25.0 metres in hole BD2011-154 (T2A Zone)
1.14 g/t Au over 22.0 metres in hole BD2011-156 (T1 NE Extension Zone)
These holes and results have provided the company with very important
additional technical information indicating;
The possible significant northeast extension of the T1 Zone, currently
the company's largest mineralized zone, potentially significantly
expanding the tonnage of the T1 Zone.
Mineralization shows continuity to depths of approximately 300 metres on
T2A; approximately 280 metres on T2B; and approximately 360 metres on
the possible northeast extension of the T1 Zone.
T2A Zone mineralization is confirmed along strike for approximately 400
metres; true thickness ranges from 0.3m to 14.7 metres and averages
approximately 4 metres.
T2B Zone shows mineralized true thickness from 0.47 metres to 15.5
metres for an average true width of approximately 4 metres.
All three zones remain open on strike to the northeast, to the
southwest, and to depth.
"The drill results continue to extend the known mineralized zones both
on strike and to depth, therefore contributing significantly to the
tonnage potential of the deposit. We will look to further define these
known zones while simultaneously expanding upon them through
exploration drilling as they remain open on strike to the northeast,
southwest and to depth." stated Frank Candido, President, Golden Hope
The company continues to be encouraged by the results of diamond
drilling while bearing in mind that the primary distribution of gold in
these quartz-filled breccias and the small size of samples possible
(about 2kg/m of core) contribute strongly to assay distributions which
are not reliable estimators of the true concentration of gold. Our
experience to date suggests a serious underestimation of the average
grade by sampling diamond drill cores as compared to results from large
(5 to 10 tonnes) samples of the breccias taken from surface exposures.
Combined Historical Diamond Drill Data
The company calculated the simple average of 3292 assays of diamond
drill cores from the T1 Zone, most of which were from the upper 75 to
100 metres of the breccia. The simple average is 0.99 g/t Au, while the
5 -10 tonne samples, depending on the limits used, indicate an average
of 2.5 to 2.8 g/t Au for the surface exposure of the breccia. Many of
these core samples were taken during past exploration programs (pre
2007). Core size, preparation for assay and assaying procedures varied
from one program to the other and may have influenced this average.
272 diamond drill core samples from within the T2A Zone returned a
simple average of 1.85 g/t Au while 217 diamond drill core samples from
within the T2B Zone returned a simple average of 1.45 g/t Au. Most of
these core samples were taken by the current technical team, are
generally of equal length, were subjected to total pulp metallic
assaying treatment and, although too small for the primary distribution
of metal, provide a more consistent database.
Winter 2011 Diamond Drill Data
Near the bottoms of holes BD2011-152, 155 and 156, approximately 350 to
380 metres below surface, a zone of quartz veining in diorite with
visible gold was intersected along strike from the T1 Zone. The zone
ranged from a thickness of 0.47 metres in hole BD2011-152 (visible gold
which assayed <0.07 g/t Au) to a maximum thickness of 10.34 metres in
hole BD2011-156 which assayed 1.14 g/t Au over a core length of 22.0
metres. The company believes that this could be a significant extension
to the T1 Zone, currently the largest tonnage zone.
The T2A Zone was intersected in holes BD2010-146, BD2011-152, 153, 154,
and 156 with estimated true thickness ranging from 0.47 metres to a
maximum of 11.75 metres in hole BD2011-154 which assayed 1.40 g/t Au
over a core length of 25.0 metres).
The T2B Zone was intersected in holes BD2010-146, BD2011-152, 153, 154,
155 and 156 with estimated true thickness ranging from 0.47 metres to a
maximum of 9.10 metres in hole BD2010-146 which assayed 0.42 g/t Au
over a core length of 16.0 metres.
Holes BD2010-146 through 148 and holes BD2011-152 through 156 were
completed to intersect the mineralized T2A and T2B zones at depth and
to test for a northeasterly extension of the T1 Zone. Holes BD2010-146,
147 and 148 were drilled to test for the northeastern extension of the
Holes BD2011-152 to 156 were completed to test the down dip extension of
the T2A and T2B zones. Visible gold was observed in holes BD2010-146,
BD2011-152, 153, 154, 155 and 156 with multiple occurrences in holes
BD2011-152, 153 and 154.
Holes BD2010-149, 150 and BD2011-151 were completed to test the down dip
and southwesterly extension of the Ascot/Road Zone. Approximately 25.0
metres down dip from the mineralization in hole BD2010-98, hole
BD2010-149 intersected the Ascot/Road (0.40 g/t Au over a core length
of 20.0 metres - estimated thickness of 11.4 metres). Holes BD2010-150
and BD2011-151 did not intersect the zone.
In December 2010, Golden Hope Mines Limited also completed 6 wild cat
exploration holes totaling 1414.0 meters to test the Laval's Mountain
The diamond drill holes intersected a thick sequence of dark grey
shales, siltstones, sandstones and local conglomerates that are
interpreted to be the Beauceville Formation that were intruded by
dioritic rocks. A total of 1002 samples were sent to Activation
Laboratories to be analyzed for Au and a multi element scan for 48
Anomalous Au (to 38 ppb) and Zn (to 627 ppm) were intersected in the
Beauceville formation rocks. The areas with anomalous Au and Zn
generally appear to correlate with the SGH anomalies locations but it
is unclear at this time whether these low values for Au and Zn are the
cause of the anomalies or whether there is more significant
mineralization at depth.
The company will continue to explore the area around Laval's mountain as
well as a number of other established targets along the Bellechasse
Belt. To date the company has been focused on the main mineralized area
around Bellechasse-Timmins while it has already identified another
mineralized area 6.2 kilometres to the south known as the Beland Zone.
It is the company's belief that the Bellechasse Belt may host a number
of mineralized zones similar to Bellechasse-Timmins within the
approximately 18 kilometres of claims that the company currently holds
in the Bellechasse Belt.
A table with the complete results and cross sections as well as a table
of the simple and length weighted averages of the diamond drill core is
posted on the company web site at http://www.goldenhopemines.com/exploration/bellechase_timmins_gold/results/ or a copy of the tables and or cross sections may be obtained by
contacting the company at 514-750-8128.
The company uses Activation Laboratories Limited in Ancaster Ontario for
all assays. Actlabs is accredited to the international standard of ISO
17025 for gold analysis. All of the drill core samples sent to the
Actlabs undergo initial Fire Assay treatment. Due to the presence of
visible gold, any initial results over a selected threshold Au are
re-assayed using total pulp metallic treatment. The Golden Hope
procedure requires crushing, pulverizing and sieving the entire sample
of approximately two kilograms. This company protocol can lead to
delays in both receiving and reporting assay results.
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 release. Mr. Tilsley is a
consultant to Golden Hope Mines.
About Golden Hope Mines Limited:
Golden Hope 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 Quebec,
Canada. The Bellechasse gold project in Southeastern Quebec includes
the T1, T2 and Ascot/Road gold zones, the eight known parallel
gold-bearing breccias of the adjoining 88 Diorite, and the new FSG
volcanic environment targets and a number of recently claimed ultra
basic/serpentine bodies. For further information on Golden Hope Mines
Limited please visit www.goldenhopemines.com.
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address future production,
reserve potential, exploration drilling, exploitation activities and
events or developments that the company expects are forward-looking
statements. Although the company believes the expectations expressed in
such statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results or
developments may differ materially from those in the statements.
Various factors could cause actual results to differ materially from
those in forward-looking statements. These include market prices,
exploitation and exploration successes, continued availability of
capital and financing, and general economic, market or business
conditions. Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments may
differ materially from those projected in the forward-looking
statements. For more information on the company, investors should
review Golden Hope's registered filings at www.sedar.com.
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.
SOURCE Golden Hope Mines Limited
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