For those who dont want to link... The NewsGolden Hope Mines Announces Results From Ascot Vein Channel Samples
Marketwire
GOLDEN HOPE MINES LIMITED
December 19, 2007 - 06:00:03 AM
Golden Hope Mines Announces Results From Ascot Vein Channel Samples
TORONTO, ONTARIO--(Marketwire - Dec. 19, 2007) - Golden Hope Mines Ltd. (TSX
VENTURE:GNH)(PINK SHEETS:GOLHF) is pleased to announce results of channel
sampling of the Ascot vein on the company's Bellechasse property.
A total of 68 preliminary samples were collected from seven trenches across
the Ascot vein, which is part of the large Timmins gold deposit (see maps at
home page of www.goldenhopemines.com). Sample weights ranged from
approximately seven to 37 kg, for a total of 1,473 kg. Each sample was
crushed, quartered, and four cuts of one kg each were sent for standard fire
assay at Eastern Analytical Limited of Springdale, Newfoundland.
Individual assays ranged from 0 to 34 g/t, while the weighted average gold
content for those of the 68 samples taken from within the vein range from
mineralized background (more than 150 ppb) to a maximum of 4.38 g/t.
"This portion of our exploration program continues to deliver good results and
shows promising mineralization," said Louis Hoel, President of Golden Hope
Mines.
"These results suggest the gold distribution in the Ascot vein is similar to
that of the Timmins 1 zone, which demands two to five-tonne bulk samples in
order to yield reliable estimators. Our database of new and historical results
shows a continuous improvement in grades when the sample taken is larger. The
optimized sample size for the Timmins deposit appears to be approximately one
to two cubic metres giving an approximate sample weight of three to six
tonnes.
"Results to date from the 2007 exploration program have confirmed a much
larger Timmins deposit than was previously known. In addition, we continue to
develop a better understanding of the deposit, part of which is attributable
to the company's capabilities. Not only is our sampling facility fully
equipped, but we also have the technical expertise to uncover the true wealth
of this great deposit."
A large-diameter drilling program was recently completed on the Ascot zone.
Nine shallow holes were completed for a total of 305 metres, and a total of
268 samples were collected. The samples are being processed in the Golden Hope
Mines facility and forwarded to Eastern Analytical for assay.
During the first quarter of 2008, Golden Hope Mines expects assay results from
the large number of samples that were taken from the Ascot Vein, Timmins 1,
and the new, larger Timmins 2 (ref. news release 7/12/ 07).
James E. Tilsley, P.Eng is acting as the qualified person (QP) for Golden Hope
Mines Ltd. in compliance with National Instrument 43-101 and has reviewed the
technical contents of this release.
About Golden Hope
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, silver and base metal projects suitable for
underground and/or open-pit mining. The company's two areas of interest are
located in Quebec, Canada and Maine, U.S. The Bellechasse gold project in
Quebec includes the Timmins and Ascot gold zones, the Coucou volcanic target
and a number of newly claimed serpentinite geological formations. For further
information on Golden Hope, visit www.goldenhopemines.com.
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of
historical facts, that address future production, reserve potential,
exploration drilling, exploitation activities and events or developments that
the company expects are forward-looking statements. Although the company
believes the expectations expressed in such statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results or developments may differ materially from those in the
statements. Factors that could cause actual results to differ materially from
those in forward-looking statements. These include market prices, exploitation
and exploration successes, continued availability of capital and financing,
and general economic, market or business conditions. Investors are cautioned
that any such statements are not guarantees of future performance and actual
results or developments may differ materially from those projected in the
forward-looking statements. For more information on the company, investors
should review registered filings at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Golden Hope Mines Ltd. Louis Hoel President (416) 362-4673 (416) 864-0175
(FAX) Email: info@goldenhopemines.com Website: www.goldenhopemines.com
Barnes McInerney Inc. John Vincic Executive Vice President, Investor
Relations (416) 367-5000 ext. 249 (416) 367-5390 (FAX) Email:
jvincic@barnesmcinerney.com