News - Copper Enrichment at Gold Lake
Sep 26, 2008 13:04 ET
High Desert Gold Announces Copper Enrichment at the Gold Lake Property
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2008) - High Desert Gold Corporation ("HDG" or the "Company")(TSX:HDG)(TSX:HDG.WT) is pleased to announce the results from the completed first phase drill program at the copper-gold-molybdenum Gold Lake, New Mexico property.
At Gold Lake in New Mexico, first phase drilling has been completed. The diamond drill program consisted of six holes totaling 2,100 metres. The Company is now in receipt of all assays and is pleased to report excellent results in hole GL-5.
Hole GL-5 intercepted secondary copper enrichment over 12 metres averaging 1.1% copper with 285 gpt of uranium. These results are of particular interest in that GL-5 is the first hole that drills into the induced polarization geophysical anomaly as against the earlier holes which drilled outlying copper or molybdenum or gold surface geochemical targets. The mineralized interval is as follows:
From To length Average Average Average
gold copper uranium
metres metres metres gpt % ppm
30.5 73 42.5 0.104 0.42 89
including
61 73 12 0.016 1.18 285
These intercepts are approximately true width, assuming that the copper enrichment blanket is horizontal.
The Company completed both "SP" and "IP" geophysical surveys over the property. Hole GL-5 is within the southern lobe of the large, approximately two square km, IP anomaly and the much larger 10 square km SP anomaly. Further exploration of this excellent copper intersection will be undertaken by the Company or together with a joint venture partner.
Ralph Fitch President of the Company stated "We have seen weak secondary enrichment in prior holes, but this is the first hole in which we are seeing a well developed enrichment blanket with ore grade copper mineralization."
The best two holes drilled to date are GL-5 shown above and GL-2 (previously reported-HDG PR08-07, May 15, 2008) which also intersected weak secondary enrichment and high molybdenum values. The molybdenum intercept is shown below:
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Drill From To Length Molybdenum Copper
Hole (metres) (metres) (metres) (ppm) (ppm)
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GL-2 3 629 626 155 230
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360 610 250 308 190
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These intercepts are thought to be true width by the Company but with only one drill hole into this molybdenum rich zone this cannot conclusively be demonstrated at this time.
The highest molybdenum value in GL-2 is 963 ppm (0.096%) and the highest copper grade is 0.23%. Interesting values of uranium are found over an 89 metre interval where uranium averaged 44 ppm with the highest value being 280 ppm. Note, this compares to the 42.5 m interval, from 61 to 103.5 metres, in GL-5 that averaged 130 ppm uranium.
Holes GL-3, 4 and 6 included intervals of weak secondary enrichment over approximately 6 metres with grades in the 0.1 to 0.2% copper range.
The Company is presently showing the property to potential joint venture partners.
The Company is a mineral exploration company that acquires and explores mineral properties, primarily gold, copper and silver, in North America. The two major properties held by HDG are the flagship Canasta Dorada gold property in Sonora, Mexico, and the Gold Lake porphyry copper-gold-molybdenum property in New Mexico.
The Qualified Person on the Gold Lake property is Randall Moore, Executive Vice President of Exploration, HDG and he has reviewed the content of this press release.
Assays at Gold Lake were performed by ALS Chemex ("ALS") which is an ISO 9001:2000 certified laboratory. Gold was analyzed by the Au-AA23 method that includes fire assay of a 30 gram sample with an AA finish. All other elements were analyzed by the ME-ICP61 method. Gold assays were performed in the ALS Reno, Nevada laboratory while the other elements were assayed in their Vancouver, B.C. laboratory, both of which are ISO certified.
Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "intends," "anticipates," "should," "estimates," "expects," "believes," "indicates," "targeting," "suggests," "potential," "interpretation" and similar expressions. Information concerning the interpretation of drill results also may be considered forward-looking statements, as such information constitutes a prediction of what mineralization might be found to be present if and when a project is actually developed. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Except as required by law, HDG assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.