TORONTO, Jan. 25, 2012 /CNW/ - Hudson River Minerals Ltd. ("Hudson River") (TSX-V:HRM) is pleased to announce it has received the assay results from the recent drill program on its Forge Lake gold property located 32 km northeast of Wawa, Ontario and 14 km south of the Richmont Mines Island Gold Mine and Mill.
Of the seventeen (17) diamond drillholes completed, sixteen (16) holes intersected anomalous gold. Total meterage was 1,399 m. Highlights of the drilling include:
- 16.5 g/t Au over 0.5 m in HR-FL-04
- 4.70 g/t Au over 1.5 m in HR-FL-09
- 4.10 g/t Au over 1.5 m in HR-FL-10 within 0.95 g/t Au over 13.0 m
- 4.56 g/t Au over 3.3 m in HR-FL-12 within 1.99 g/t Au over 9.1 m
- 4.03 g/t Au over 3.0 m in HR-FL-15 within 1.93 g/t Au ove 7.5 m
- 4.35 g/t Au over 3.9 m in HR-FL-16 within 3.25 g/t Au over 12.7 m
Drilling was concentrated in two areas of the property. Eleven (11) holes were drilled through the East Zone to test for higher-grade mineralization and thicker intersections within the presence of a major deformation zone. Holes HR-FL-04, HR-FL-15 and HR-FL-16 tested this zone. Six (6) holes were drilled through the Main Zone to test for the presence of gold in two thick deformation zones. HR-FL-09, HR-FL-10 and HR-FL-12 are representative of the Main Zone.
Within the Main Zone the best gold assays come from within the major quartz vein located near the base of the deformation zone. Lower grade sections (e.g. up to 0.89 g/t Au) are common and occur throughout the deformation zone but are not always continuous. For example, hole HR-FL-12 grades 4.56 g/t Au over 3.3 m within the major quartz vein and grades 1.99 g/t Au over 9.1 m within a thicker interval of the deformation zone that includes the major quartz vein.
Within the East Zone the gold assays are more continuous throughout the quartz vein system within the deformation zone (e.g. 3.25 g/t Au over 12.7 m in hole HR-FL-16) but the thickness of these quartz veins can vary rapidly over a short distance (e.g. from 3 to 12 m over 20 m).
The assay results for all holes are summarized in Table One. A previous press release (dated December 14th 2011) listed the collar coordinates, dip and azimuth and length of all holes. All assays were by fire assay with Atomic Absorption (AA) finish and were completed by ALS Canada. The lab also completed a thorough quality control program including analyzing duplicates, blanks and standards. All checks were within acceptable limits. The intersected widths are not true widths, which would be approximately 75 to 85% of the intersected widths based on the estimated dip of the mineralization of -30o to -45o below the horizontal.
The Forge Lake property contains a historic resource of 170,000 tons that had been defined by Regnery Metals in 1940 and later reported by AMC in 1979. No grade was reported for this resource although 8,000 tons were mined in the early 1940s with a reported grade of 9.5 g/t Au. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources, therefore, Hudson River is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
Hudson River has completed a high resolution airborne magnetic survey over the Forge Lake, Otter Pond and Hawk Junction properties and is currently designing a spring exploration program at Forge Lake that will test for a continuation of the intersection in HR-FL-16 further to the west (where it was intersected by HR-FL-15) and east and down-dip of HR-FL-12 where the zone is open in both directions. The drilling on this program was confined to the upper 80-110 m of surface and several historic intersections at greater depth remain to be tested. The airborne survey will help in establishing geologic contacts and structures across the three projects in advance of further ground work, including additional sampling of known surface showings and possible ground geophysical surveys, scheduled for 2012.
Hudson River has also identified a series of surface showings located 400-500 m south of the Forge Lake Main and East Zones that produced assay values near 1 oz/t Au within quartz veins and that will be the subject of further investigation in 2012.
Alan Aubut P.Geo. (ON) is a Qualified Person in accordance with Canadian regulatory requirements as defined in NI 43-101 and has reviewed the drill logs from this current exploration program and also reviewed and approved the technical content of this press release.
Table One. Gold assay results from Forge Lake drill program (NSA - No Significant Assays).
About Hudson River Minerals Ltd.
Hudson River is focused on the discovery of precious metals and base metals. The management team identifies underexplored areas that have historical intersections of economic minerals and has experience exploring in areas with little geologic outcrop and that rely heavily on geophysical technologies for discovery. For more details on Hudson River visit www.sedar.com or www.hudsonriverminerals.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.
This document may contain forward-looking statements relating to Hudson River's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Hudson River's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Hudson River disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
For further information:
Stephen J. Balch, President and CEO
David Ellis, Investor Relations