TSX VENTURE: GNH
Pink Sheets: GOLHF
MONTREAL, April 11, 2012 /CNW/ - Golden Hope Mines (TSX VENTURE: GNH)(Pink Sheets: GOLHF) is pleased to announce drill results from the Champagne Deposit in the Appalachian Fold Belt of Southeastern Quebec. The shallow drilling intersected massive sulphides. Highlights include 11.74 metres of 1.23 g/t Au and 8.16 metres of 1.15 g/t Au with associated base metal values. Results for drill holes CD2011-06 to CD2011-09 are presented in the Table below.
*Drill holes CD2011-01 to CD2011-05 intersect the marker horizon but did not intersect significant mineralization. Lengths are core length.
"We are very pleased with these near surface drill results. Our company now has two different types of deposits close to one another within the Bellechasse Belt that we will continue to explore and define. Results from this series of preliminary holes suggest a great potential for multiple deposits in Southeastern Quebec", states Frank Candido, President, Golden Hope Mines Limited.
The Champagne target is a partially explored base metal and gold occurrence that lies within the Company's Bellechasse Belt claims 3.5 kilometres north of the Bellechasse-Timmins Gold Deposit. Previous work on Champagne outlined a historic estimate of 250,000 tonnes of massive and disseminated sulphides averaging 2.4 g/t gold, 19.7 g/t silver, 2.7% zinc, 0.40% copper and 0.45% lead (Paradis, Bossé and Gauthier, 1995 Report from the Centre Geoscientifique de Quebec referencing Bergman-1954). A qualified person has not done sufficient work to classify the historical estimate as current mineral resource nor is Golden Hope treating the historical estimate as current mineral resource.
The report can be read on the company's web site at http://www.goldenhopemines.com/exploration/champagne_zone/.
Drill holes CD2011-01 to CD2011-05 of the 2011 campaign were designed to test the Champagne horizon near surface for extensions of the known deposit between the previously explored massive sulphides (Bergman, 1954) and the sulphide mineralization intersected by Arcadia Nickel in 1955 in hole S-14 and S-15 as well as by Golden Hope in hole 9112A completed in 1991 in the same area approximately 600 metres to the southwest. Holes CD2011-6 to CD2011-9 tested the southwestern end of the previously known sulphide body.
These results support the previously reported historical results. They also suggest that the known deposit can potentially be expanded on strike as the confirmation holes were drilled on the southwestern end of the known mineralization.
Champagne is a massive and disseminated sulphide occurrence carrying potentially economically interesting values in base and precious metals. It remains open on strike to the northeast and to depth. Further drilling is planned to provide data on grade and volume of the mineralization.
The company's claims include approximately 10 kilometers of the stratigraphic horizon near the base of the Beauceville Formation that hosts the Champagne occurrence. The Champagne occurrence lies on the north limb of a synclinal fold. An additional 20 kilometers of the horizon is exposed within the company's claims that cover the south limb of the syncline.
Golden Hope is also planning further drilling to upgrade and verify the historical estimate as a current mineral resource.
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 Mines Limited 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 the 88 Diorite. The company is also looking to develop the Champagne zone, a partially explored base metal and gold deposit that lies within the Company's Bellechasse Belt claims. A recently completed VTEM survey may identify other similar targets along the horizon. The company is also working to develop other targets within its claim blocks including the FSG gold and base metal target, Chute du Bras, the LG showing, Moose Cliff, and Talon. For further information on Golden Hope Mines Limited please visit www.goldenhopemines.com.
For further information:
Investor Relations USA:
American Capital Ventures
Richard Hull: 305-918-7000