TSX VENTURE: GNH
Pink Sheets: GOLHF
MONTREAL, March 19, 2012 /CNW/ - Golden Hope Mines (TSX VENTURE: GNH)(Pink Sheets: GOLHF) - Golden Hope Mines Limited is pleased to announce further significant results from its 2011 drill campaign in southeastern, Quebec. The company is pleased to present the following highlights from holes BD2011-178, 179 and 180.
|Hole Number||From||To|| Length
|Hole Number||From||To|| Length
Table 1: Result highlights from BD2011-178 to 180
Hole BD2011-178 intersected 48 metres of 0.48 g/t Au including 5 metres of 0.73 g/t Au and also intersected 63 metres of 0.51 g/t Au including 7 metres of 1.45 g/t Au and 7 metres of 1.62 g/t Au. Hole BD2011-179 intersected 29 metres of 1.33 g/t Au including 5 metres of 2.13 g/t Au and 10 metres 2.08 g/t Au. Hole BD2011-179 also intersected 33 metres of 1.05 g/t Au including 8 metres of 2.80 g/t Au. Hole BD2011-180 intersected 58 metres of 0.85 g/t Au including 9 metres of 1.68 g/t Au and 6 metres of 3.22 g/t Au. Hole BD2011-180 also intersected 41 metres of 0.62 g/t Au including 12 metres of 1.03 g/t Au.
"We are very pleased with the drill data generated so far from the 2011 campaign. The near surface significant results are also extremely encouraging. These latest results will continue to contribute to the calculation of our first resource estimate. Our team in Ste Justine is working diligently to process the core for assaying as quickly as possible" states Frank Candido, President, Golden Hope Mines.
Bellechasse-Timmins Exploration Update:
There are currently 5 holes at the SGS Labs in Toronto (BD2011-181, 182, and BD2012-183,184, and 185).
There are also 10 holes or approximately 3300 metres of drill core that are in different stages of being logged, cut and prepared for shipping to the lab at our St-Magloire facility. These holes include BD2012-186, 187, 188, 189, 190, 191, 192, 193, 194 and Béland 05).
The drill crew has left the property as the company is taking a small break from drilling to catch up to the data generated to date and focus on processing the core currently outstanding for assaying. The near term plan includes the publication of the company's first resource estimate as well as preparing an extensive Spring 2012 drill campaign at Bellechasse-Timmins and throughout our property in southeastern, Quebec.
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. SGS introduced standards and blanks in the sequence.
Claude Duplessis, Eng and Claude Bisaillon, Eng. are qualified persons (QP) in compliance with National Instrument 43-101 and have reviewed the technical contents of this press release.
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