• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Hidalgo Mining International (Pink Sheets: HMIT) Announces Exploration of Tudor Gold Project in Conjunction With Subury Resources Inc.

Posted on: Tuesday, 17 July 2007, 15:03 CDT

PAHRUMP, Nev., July 17 /PRNewswire-FirstCall/ -- John Darrah, President and Majority shareholder announced today that the Company will be assisting it's subsidiary, Subury Resources, Inc., in their exploration endeavor located in Ontario, Canada.

Robert Silverman, President of Subury Resources Inc. announced plans to undertake Exploration of the Tudor Gold Project, Ontario, Canada. Geologist Robert Dillman has laid out a four phase program that will be implemented over four years to explore the extent of gold mineralization contained in the Main Zone and Vardy-Homestake Zone on the Tudor Property. The total cost of the program over the four years is estimated at CDN$5,000,000.

The bulk of the program will focus on defining the extent of gold mineralization in the Main Zone which forms the largest gold deposit on the property. Gold mineralization in the Main Zone has been traced over 3 km's by surface trenching and drilling. The goal of exploration of the Main Zone will be to determine tonnage and grade of the gold deposit by definition drilling and bulk sampling.

Exploration of the Vardy Zone-Homestake Zone will focus on definition of several high-grade gold occurrences using surface trenching and exploratory drilling. The First Stage of the program will include surface trenching and a 13 hole - 1600 metre drill program.

Selected sites of gold mineralization in both gold zones will be stripped of overburden and systematically sampled using a rock saw, to get more information on the nature of and continuity of the gold mineralization. The drill program will test continuity of gold mineralization under trenches and adjacent to historic drill holes in a 1.2 kilometre section of the Main Zone.

Funding has been made available for reservation of drilling equipment and for stripping of overburden and systematical sampling. Activity will commence this summer, and extend thorough the fall.

CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. These expectations and assumptions are subject to risks and uncertainty, which could affect Hidalgo Mining Internationals' future plans. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Hidalgo Mining International to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks detailed in Hidalgo Mining Internationals' periodic report filings with the Securities and Exchange Commission. Hidalgo Mining International undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in Hidalgo Mining Internationals' expectations.

Contact: Investor Relations for Hidalgo Mining International Veronica D. Dunford, 310-729-1223 hidalgo@clientservicesint.com

Hidalgo Mining International

CONTACT: Veronica D. Dunford, Investor Relations, +1-310-729-1223,hidalgo@clientservicesint.com, for Hidalgo Mining International

Source: PRNewswire-FirstCall

More News in this Category