GNH: TSX Venture
TORONTO, Sept. 28, 2011 /CNW/ - Golden Hope Mines (TSXV: GNH) (OTCQX: GOLHF) is pleased to provide an exploration update on its summer 2011 diamond
drill campaign in Southeastern Quebec, Canada. The initial program was
for 6 holes or approximately 2800 metres and was subsequently extended
by 2 holes for a total of approximately 4100 metres. The company had
contracted Forages Mercier of Val D'Or, Quebec for 4800 metres.
SGS Canada Inc.-Geostat, independent technical advisors to Golden Hope
and in close co-operation with the GNH technical team, designed the
initial drill program to verify past results and to further test the
T1, T2 and 88 zones to depth.
The company has completed the 8 initial holes. A table of the holes and
the depth of the holes is presented below.
Hole BD2011-157 has been assayed and results were released to the market
on September 12, 2011. Holes BD2011-158 and 159 have been cut and sent
out for assaying to SGS Minerals Services in Toronto, Ontario. The
remaining holes are currently being logged. Samples are being cut and
will be sent for assaying as each hole is completed.
The company will announce its results as they are received from the
assay laboratory, compiled and interpreted.
A map of the completed drill holes is available on the company's web
site at http://goldenhopemines.com/exploration/bellechase_timmins_gold/results/campaign_summer_2011/
While the company waits for the results from the initial 8 holes, Golden
Hope is pleased to announce that drilling has begun on the Champagne
Zone. The Champagne Zone is located approximately 3.5 kms north of
Bellechasse-Timmins and located within the Bellechasse Belt.
In a continued effort to identify, explore and define new targets along
the Bellechasse Belt, Golden Hope has selected the Champagne Zone as
its next high priority target. GNH along with SGS Geostat believes that
the Bellechasse Belt holds great potential for many significant
deposits. The Belt has largely gone un-explored with the exception of
the Bellechasse-Timmins Zone. For example, on June 23, 2010, the
company was successful in confirming the existence of the Beland Zone,
approximately 6.2 km south of the Bellechasse-Timmins Zone and within
the Bellechasse Belt. A copy of that press release can be viewed on the
company's web site at http://goldenhopemines.com/_resources/news_releases/Beland%20PR%20Final.pdf.
The Champagne Target is a partially explored base metal and gold deposit
that lies within the Company's Bellechasse Belt claims. Previous work
outlined a non-43-101 compliant historic estimate of 250,000 tonnes of
massive and disseminated sulphides averaging 2.7% zinc, 2.4g/t gold,
0.40% copper, 0.45% lead, and 19.7g/t silver (Paradis, Bossé and
Gauthier, 1995 Report from the Centre Geoscientifique de Quebec
A qualified person has not done sufficient work to classify the
historical estimate as current mineral resource or mineral reserve and
should not be relied upon and therefore Golden Hope is not treating the
historical estimate as current mineral resource or mineral reserve. A
copy of the report can be found on the company's web site at http://goldenhopemines.com/exploration/champagne_zone/.
The mineralized zone is open down-dip and along strike to both the
northeast and the southwest. The potential mineralization is described
as lying near the base of the Beauceville Formation in a stratigraphic
horizon that extends northeast-southwest through the region. The
current exploration program is designed to investigate approximately
4km of this horizon within the Bellechasse Belt claims held by the
Company. Diamond drilling is already in progress.
The potential quantity and grade is conceptual in nature. There has been
insufficient exploration to define a mineral resource and it is
uncertain if further exploration will result in the target being
delineated as a mineral resource.
The Champagne drill program currently calls for 7 holes or approximately
1200 metres. A map of the location of the Champagne Zone is available
on the company's web site at http://goldenhopemines.com/exploration/champagne_zone/.
Golden Hope Mines is also pleased to announce that it has extended its
diamond drill campaign by an additional 2000 metres to accommodate the
Champagne drilling. Golden Hope will continue to use the services of
Forages Mercier of Val D'Or Quebec.
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.
This news release contains certain forward-looking information as
defined in applicable securities laws (referred to herein as
"forward-looking statements"). Specifically, this news release contains
forward-looking statements regarding the drill results being
incremental to current potential. Forward-looking statements involve
known and unknown risks, uncertainties and other factors which are
beyond Golden Hope's ability to predict or control and may cause Golden
Hope's actual results, performance or achievements to be materially
different from any of its future results, performance or achievements
expressed or implied by forward-looking statements. Accordingly,
readers should not place undue reliance on forward-looking statements.
Golden Hope undertakes no obligation to update publicly or otherwise
revise any forward-looking statements contained herein whether as a
result of new information or future events or otherwise, except as may
be required by law.
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
southeastern Quebec, Canada. The company's claim blocks lie within an
area that extends approximately 100 kilometres along the Appalachians
of southern Quebec from near Ste-Lucie-de-Beauregard to about 16
kilometres southwest of Beauceville. The Bellechasse-Timmins gold
deposit lies 5 kilometres southeast of St-Magloire within the
Bellechasse Belt an approximately 18 kilometre long mineralized area.
The Bellechasse-Timmins gold deposit includes the T1, T2A, T2B,
Ascot/Road gold zones, and eight known parallel gold-bearing breccias
in the adjoining 88 Diorite. The company is also working to develop
other targets within its claim blocks including the FSG gold and base
metal target, the St-Luc (Roux) target, Chute du Bras, the LG showing,
Moose Cliff, and Talon. For further information on Golden Hope Mines
Limited please visit www.goldenhopemines.com.
SOURCE Golden Hope Mines Limited
For further information:
Golden Hope Mines Limited
: President, Director
Public Relations Canada: Paradox Public Relations
Investor Relations USA:
American Capital Ventures