High Desert Gold’s Reconnaissance Program Locates Strong Gold Mineralization on Its Kinkaid Property, Mineral County, Nevada
VANCOUVER, BRITISH COLUMBIA–(Marketwire – July 2, 2008) – High Desert Gold Corporation (“HDG” or the Company) (TSX:HDG)(TSX:HDG.WT) is pleased to announce that the ongoing North American reconnaissance program has completed the initial evaluation of its wholly owned Kinkaid gold-copper property located approximately 24 kilometers northeast of Hawthorne, Nevada. HDG acquired the property through staking in September of 2007 and now has 260 federal lode claims covering 2,174 hectares.
The Kinkaid property was acquired for its bonanza vein and hot springs potential. Initial reconnaissance identified numerous quartz veins at the surface which have been subsequently sampled with encouraging results.
HDG has collected a total of 171 rock chip samples from the claim block with initial results returning gold grades of up to 28.6 gpt gold from one of the many veins which have been identified. Of the 171 samples collected, 32 have gold assays of greater than 1.0 gpt. Gold mineralization is associated with, and overprinted by, copper mineralization. Select samples have contained up to 15% copper and 67 of the 171 samples contain greater than 1,000 ppm copper.
The following table lists selected rock chip results from the Kinkaid property: ——————————————————————– ——– ______________ Sample__________________________________________Gold__ Copper Sample Number__Length________________________ Description____in gpt____ in % ______________(Metres) ——————————————————————– ——– 121033____________0.2________________________ Quartz Vein______28.6____ 1.47 ——————————————————————– ——– 40809____________ 0.6 argillized and brecciated intrusive______25.6____ 2.92 ——————————————————————– ——– 40813____________ 0.6______ glassy and massive white vein______17.4____0.074 ——————————————————————– ——– 63968____________ 0.2________________________ Quartz vein______9.82____ 3.23 ——————————————————————– ——– 120753____________2.4________________________ Quartz vein______6.72____ 3.11 ——————————————————————– ——– 40819____________ 0.3____________________ 10″ quartz vein______6.52____ 0.04 ——————————————————————– ——– 120725____________1.2__________________________Vein swarm______6.04____ 1.58 ——————————————————————– ——– 120765____________3.0________Calcareous silt clay altered______ 4.6____0.016 ——————————————————————– ——– 120799____________3.0____Shear with brecciated arkose and ____________________________________________vein material______ 4.0____ 1.77 ——————————————————————– ——– 120752____________1.2______Brecciated zone w/ quartz vein ________________________________________________fragments______ 3.6____ 0.73 ——————————————————————– ——– 120800____________0.9________ Sheeted quartz barite veins______3.51____ 2.81 ——————————————————————– ——– 120783____________0.6________________________Garnet Skarn______2.74____ 3.15 ——————————————————————– ——– 120732____________1.5__________ Fractured Calcareous silt______2.28____ 0.01 ——————————————————————– ——– 120704____________2.4 Sheeted thin quartz veins in arkose______2.08____0.073 ——————————————————————– ——– 40803____________ 0.6______________ Stockwork veined Dike______2.09______6.1 ——————————————————————– ——– 120785____________1.2__ Structural zone within moderately ________________________________________altered limestone______ 1.8____ 5.23 ——————————————————————– ——– 120713____________1.8____________________Fractured arkose______1.56____0.001 ——————————————————————– ——– 121701____________2.4______ Portion of 40′ wide structure______1.32____ 0.41 ——————————————————————– ——–
The primary style of mineralization is dominated by epithermal/ mesothermal veins, which can range in thickness from less than one- inch to over 4-feet in true width. Major veins can be traced for distances well over 1-mile along strike, but have limited exposure due to erosion and the presence of post-mineral cover. The major feature of the central portion of the claim block is a large broad anticline where numerous quartz-sulfide-malachite veins occur along the axis. This is the most common vein set and they appear to contain the highest gold and copper grades. Calcareous rich argillites are found within the property and show high grade gold mineralization where cut by structures or veins. These rocks are expected to occur below the crest of the anticline at the down dip projection of the gold-copper veins. This is a similar geologic environment to the Fortitude mine which is located 260 km northeast of Kinkaid. Stockwork quartz veining and hydrothermal brecciation are mapped in the western portion of the project. These exposures are characteristic of hot springs deposits such as at Bodie located just 66 km west in California and Paradise Peak located 63 km northeast of Kinkaid. This area contains elevated arsenic, antimony and mercury as well as gold in chip samples.
The Qualified Person on the Gold Lake property is Randall Moore, Executive VP of Exploration, High Desert Gold Corporation and he has reviewed the content of this press release.
Assays at Kinkaid 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 chip sample results and also geology 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.
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