TSX VENTURE: GNH
Pink Sheets: GOLHF
MONTREAL, Feb. 8, 2012 /CNW/ - Golden Hope Mines (TSX VENTURE: GNH)(Pink Sheets: GOLHF) - Golden Hope Mines Limited is pleased to announce further significant results from its Fall 2011 Drill Campaign in southeastern, Quebec. The company received results from 6 holes including BD2011-168 to BD2011-173.
Result highlights from the 6 latest holes are presented in the table below.
|Hole Number||From (m)||To (m)||Length (m)||Au (g/t)|
The lengths are core length and the assays are uncut.
Hole BD2011-171 intersected 33 metres of 4.39 g/t Au of Gold near surface including 4 metres of 2.21g/t Au and 9 metres of 14.54 g/t Au. Hole BD2011-170 intersected 91 metres of 1.07 g/t Au including 10 metres of 2.47g/t Au and 7 metres of 4.25 g/t Au. Holes BD2011-168 and 169 did not return significant assay results.
BD2011-170 and 171 were drilled on sections where past assay results at T1 needed further confirmation. BD2011-169, 172 and 173 were drilled with the purpose of testing the extension of the mineralized envelope of T2 to the northeast. Although hole 169 did not return any significant values, it helped to better understand the structure. Holes 172 and 173 confirmed mineralization at depth. This area of the property will require further work.
"Once again, we are extremely pleased with these latest drill results. The near surface significant gold values are most encouraging. These results continue to provide us with valuable information in our continued effort to define this very exciting gold deposit in Southeastern Quebec" states Frank Candido, President, Golden Hope Mines Limited.
Golden Hope is also pleased to provide its shareholders with a newly taken photograph from a recent drill core (figure 1) which shows visible gold (VG) in hole BD2012-184 at approximately 251 metres depth. This hole is currently being logged and in queue for sampling and analysis. This hole was drilled to the southeast from a collar location 50m northwest of hole BD2011-162 on the same section line. BD2011-162 returned 112 metres of 1.33g/t as reported in the December 6, 2011 press release which can be viewed here: http://cnw.ca/VjBM
Since the beginning of the 2011 drill campaign in southeastern, Quebec, Gold Hope has already reported assay results on 17 holes (7361 metres) at Bellechasse-Timmins. The company still has 10 holes (5748 metres) which remain outstanding from its 2011 drill campaign at Bellechasse-Timmins. In addition to this, the company has drilled approximately 2400 metres in 5 holes at Bellechasse-Timmins as part of its winter 2012 campaign. This campaign is currently in progress. All holes will be reported to the market when data are received and interpreted.
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 as defined by National Instrument 43-101 and have reviewed and approved 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 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, Chute du Bras, the LG showing, Moose Cliff, and Talon. For further information on Golden Hope Mines Limited please visit www.goldenhopemines.com.
Image with caption: "Visible Gold (VG) in hole BD2012-184 at approximately 251 metres depth at Bellechasse-Timmins, Quebec. (CNW Group/Golden Hope Mines Limited)". Image available at: http://photos.newswire.ca/images/download/20120208_C2377_PHOTO_EN_9793.jpg
For further information:
Investor Relations USA:
American Capital Ventures
Richard Hull: 305-918-7000