Video Summary:
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Confirmed Continuity & Expanded Trends: Our initial fieldwork and assay results at Great Northern have extended the Simms Ridge Trend by 550 metres, demonstrating continuous mineralization and open-ended potential for further growth
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Data-Driven Approach: We're using systematic exploration, including upcoming soil sampling, ground geophysics, and a resumed VTEM survey, to refine multiple drill targets for 2025
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Strategic Positioning: With the property fully consolidated, we are poised to discover new mineralized zones and significantly enhance the project's potential resource base as we move toward more aggressive drilling campaigns
Vancouver, British Columbia--(Newsfile Corp. - December 16, 2024) - Gold Hunter Resources Inc. (CSE: HUNT) (FSE: 6RH) (OTC Pink: GHREF) ("Gold Hunter" or the "Company"), a junior exploration company with a premier district-scale gold project in Newfoundland, is pleased to announce initial assay results from its Phase 1 exploration program at the Great Northern Project. These results confirm known mineralization trends and expand upon them, including the Simms Ridge area, confirming continuity across previously unexplored gaps and increasing the strike length of the Simms Ridge Trend by 550 metres to a total of approximately 1,400 metres.
Highlights:
- High-Grade Assay Results: A peak gold assay of 7.27 g/t Au from an outcrop surface sample located at the south end of the Simms Ridge Trend, confirms mineralization continuity. Ten additional samples returned values exceeding 1.0 g/t Au, reinforcing the potential to upgrade these mineralized trends through systematic exploration.
- Simms Ridge Trend Expansion: New rock outcrop and float samples collected over a 120 metre strike length have extended the Simms Ridge Trend by 550 metres, increasing its total length from 950 metres to approximately 1,400 metres. This expansion bridges previously unexplored gaps and underscores the project's capacity for rapid growth in known mineralized corridors.
Phase 1 Exploration Advancements
The ongoing Phase 1 program validates the presence of continuous mineralization within historically underexplored areas, supporting Gold Hunter's strategy of building a strong foundation for future drilling.
- VTEM Airborne Survey Update: Winter conditions have temporarily paused Geotech's VTEM ("Versatile Time Domain Electromagnetic") airborne survey, with 43% of the planned lines flown. The survey will resume in the new year, adding critical geophysical insights to support drill targeting and ground geophysical surveys planned for 2025.
Assay Results and Exploration Impact
The Phase 1 exploration program focused on the extension and expansion of mineralized trends associated with the Doucers Valley Fault, as well as verifying historic targets. Early assay results have yielded encouraging gold values, demonstrating that mineralization is continuous and remains open along strike in areas recently explored:
- 7.27 g/t Au from an outcrop sample of quartz veining, with 10% chalcopyrite, 10% pyrite, and 2% galena at UTM coordinates 506773E, 5508436N (south end of the Simms Ridge Trend).
- 4.29 g/t Au from a float sample of quartz vein with 30% coarse-grained pyrite clusters at UTM coordinates 506736E, 5508324N (Simms Ridge).
- 4.10 g/t Au from a 50x50cm quartz boulder containing 25% coarse-grained pyrite at UTM coordinates 504313E, 5506951N (verifying historic rock samples from the Browning West area).
By bridging previously untested gaps, these results emphasize the potential of the more than 18 recognized mineralized trends across the expansive Great Northern Project. The Company intends to leverage ongoing exploration, soil sampling, ground geophysics (including magnetic and IP surveys), and 2025 drilling to further test these growing targets.
Map: Simms Ridge Trend highlighting recent surface assay results.
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Map: Browning and Thor Deposit Area on the Great Northern Project highlighting recent surface assay results.
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VTEM Airborne Survey Progress
Seasonal low cloud cover, typical for this time of year, has temporarily paused Geotech's helicopter-based VTEM survey. To date, 1,191 line-km (43%) of the planned 2,788 line-km have been completed, focusing on underexplored areas with limited historical data.
"Despite seasonal challenges, the partial VTEM coverage already provides valuable data to refine our target pipeline," said Sean Kingsley, President and CEO. "We look forward to recommencing the survey in the new year, integrating the results with ongoing prospecting, historic core review, and eventual ground-based geophysics to pinpoint high-priority drill targets for 2025."
Ongoing Phase 1 Exploration
To date, the exploration team has collected over 165 rock samples from seven of the 18 known geochemically anomalous trends across the property. Additional assay results are pending, and field teams continue mapping and prospecting. The Company remains focused on refining its geological models, identifying new targets, and rapidly expanding known mineralization to ensure a robust pipeline for the 2025 drilling program. Follow-up work may include soil sampling and ground IP/magnetic surveys at Simms Ridge, Browning West, and other high-priority trends.
Rock samples collected during the program were submitted to Eastern Analytical Limited in Springdale, NL (a 90-minute drive from site), and were assayed via standard 30-gram fire assay and 34-element ICP analysis.
Technical Presentation
Video Link: Technical Consultant David Copeland's In-Depth Presentation of the Great Northern Gold Project at the Mineral Resources Review 2024 Conference and Exhibition: https://youtu.be/d5KKITo5ozk?si=tOQ_sdM7A1ZvqA_Y
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Mr. Copeland's presentation offers insight into the abundance of mineralized trends and the potential scalability at the Great Northern Project. It provides valuable context for the Company's systematic approach to building value through data-driven exploration.
Corporate Update
President and CEO Sean Kingsley has been meeting with investors and stakeholders across Canada and Europe. He recently attended the Deutsche Goldmesse (German Gold Show) conference in Frankfurt, Germany, where he engaged with European investors. A corporate presentation from the well-attended event is posted on Deutsche Goldmesse's YouTube Channel.
Video Link: President & CEO Sean Kingsley's Presentation of Gold Hunter Resources at the Deutsche Goldmesse Conference is available at: https://youtu.be/nYWJtFav8Mo?si=VRU70PQNjvDRiJzj
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Last week, Mr. Kingsley met with investors in Montreal, Toronto, Gatineau, and Ottawa. In Gatineau and Ottawa, he presented at MI3 Communications roadshow events, highlighting the Company's progress and near-term objectives.
"These meetings have been incredibly productive," said Kingsley. "As a fresh story in the market, our systematic approach to establishing continuity and growth potential resonates with investors. We're well-positioned to advance toward more comprehensive drilling campaigns next year."
Image: Slide of photos from the President & CEO on the road presenting in Frankfurt, meeting with Michael Gentile in Montreal, and conducting presentation luncheons in Gatineau, Quebec and Ottawa, Ontario.
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Next Steps
Gold Hunter will integrate the current and pending assay results with VTEM data and recently concluded fieldwork into its continually evolving geological model. This comprehensive dataset will guide drilling plans across multiple targets in 2025. By leveraging geological, geochemical, and geophysical data in tandem, the Company aims to quickly convert new targets into meaningful drill opportunities, further unlocking Great Northern's district-scale potential.
Qualified Person/s:
This news release has been reviewed and approved by David A. Copeland, M.Sc., P.Geo., and Rory Kutluoglu, B.Sc., P.Geo., "Qualified Persons" as defined under NI 43-101 - Standards of Disclosure for Mineral Projects.
About Gold Hunter Resources Inc.
Gold Hunter Resources Inc. is a Canadian mineral exploration company focused on acquiring and exploring precious and base metal projects. With a seasoned technical team and advanced exploration technologies, Gold Hunter is committed to generating significant value within Newfoundland's emerging mining districts.
Following the divestiture of its first consolidated district to FireFly Metals, Gold Hunter assembled the Great Northern Project, extending its exploration strike length by 64% to 40 kilometres. Positioned at the heart of one of Newfoundland's most promising gold regions, the Company remains dedicated to responsible exploration and shareholder value creation through data-driven strategies.
On Behalf of the Board of Directors,
GOLD HUNTER RESOURCES INC.
Sean A. Kingsley
President, CEO, and Director
Neither the CSE nor its Regulation Services Provider (as defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on reasonable assumptions made by Gold Hunter Resources Inc. ("Gold Hunter" or the "Company") as of the date they were made and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by the forward-looking statements.
These factors include, but are not limited to, general business, economic, competitive, political, and social uncertainties; fluctuations in metal prices; the results of exploration activities; changes in project parameters as plans continue to be refined; and other risks inherent in the mining industry. Additionally, while every effort is made to ensure accuracy, the Company's website, investor presentation, and other public materials may not always reflect the most current developments, results, or objectives and should not be relied upon as fully up-to-date representations of the Company's plans or status.
There can be no assurance that such statements will prove accurate, and actual results and future events could differ materially from those anticipated in such statements. Gold Hunter undertakes no obligation to update forward-looking statements, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements.
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