News from Champagne zone Golden Hope drills massive sulphides at Champagne including 11.74 metres of 1.23 g/t gold and 8.16 metres of 1.15 g/t gold.
April 11, 2012
Montreal, April 11, 2012 /CNW/ - 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 https://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.