TSX VENTURE: GNH
Pink Sheets: GOLHF
MONTREAL, April 11, 2012 /PRNewswire/ - 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.
| Hole |
From |
To |
Length |
Cu |
Zn |
Pb |
Ag |
Au |
| |
(m) |
(m) |
(m) |
(%) |
(%) |
(%) |
(g/t) |
(g/t) |
| CD2011-06 |
39.16 |
50.90 |
11.74 |
0.22 |
1.60 |
0.23 |
11.71 |
1.23 |
| including |
39.16 |
45.03 |
5.87 |
0.27 |
1.39 |
0.20 |
5.60 |
1.28 |
| including |
47.10 |
50.90 |
3.80 |
0.26 |
2.77 |
0.38 |
27.52 |
1.79 |
| |
|
|
|
|
|
|
|
|
| CD2011-07 |
50.00 |
63.30 |
13.30 |
0.04 |
0.24 |
0.03 |
0.29 |
0.04 |
| including |
51.00 |
52.25 |
1.25 |
0.17 |
1.15 |
0.14 |
2.16 |
0.29 |
| including |
63.00 |
63.30 |
0.30 |
0.43 |
0.39 |
0.058 |
3.00 |
0.59 |
| |
|
|
|
|
|
|
|
|
| CD2011-08 |
37.40 |
45.56 |
8.16 |
0.18 |
2.20 |
0.46 |
17.24 |
1.15 |
| including |
37.40 |
38.32 |
0.92 |
0.24 |
3.97 |
0.49 |
8.00 |
0.46 |
| including |
41.00 |
45.56 |
4.56 |
0.29 |
3.56 |
0.77 |
30.14 |
2.02 |
| |
|
|
|
|
|
|
|
|
| CD2011-09 |
53.22 |
54.92 |
1.70 |
0.18 |
1.73 |
0.27 |
14.33 |
1.28 |
*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.
Forward-Looking Information
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.
Golden Hope Mines Limited
Frank Candido
: President, Director
Tel: 514-750-8218
fcandido@goldenhopemines.com
info@goldenhopemines.com
www.goldenhopemines.com
Investor Relations USA:
American Capital Ventures
Richard Hull:
305-918-7000
SOURCE Golden Hope Mines Limited