Global Hunter Reports Increased Molybdenum Grade From Twinned Hole at Rabbit South
Global Hunter Corp. (TSX VENTURE: BOB) (“Global Hunter” or the “Company”) is pleased to announce the results from the first 91.8 metres of core drilled in hole RS-D-08-123 averaging 0.070 percent molybdenum and 0.13 grams per tonne rhenium. The molybdenum grade is 8.3 percent higher than the grade from the same interval in twinned hole RS-D-80-56. None of the previous operators analyzed for rhenium. The hole intersected porphyritic quartz monzonite with molybdenite bearing quartz veins and disseminated molybdenite from surface to 170.0 metres followed by a Thrust Fault to 193.0 metres and andesite to end of the hole at 212.9 metres. Additional results are pending.
———————————————————————– – From To Length Mo Re Drill hole Northing Easting (m) (m) (m) (%) (g/t) ———————————————————————— RS-D-08-123 5,605,841.0 666,639.1 0 11.3 11.3 overburden ———————————————————————— RS-D-08-123 11.3 104.0 91.8 0.070 0.13 ————————————————————————
To date a total of 135 holes have been drilled on the property including 76 in the higher molybdenum grade Eastern Zone of molybdenum mineralization. The current program of 14 drill holes has been designed to more accurately define the depth extent of mineralization in certain areas where previous drill holes ended in mineralization and establish sufficient confidence in the historic data to be included in a National Instrument 43-101 compliant resource estimate later this year. Drilling is expected to be complete towards the end of September 2008.
Commenting on the positive initial result, Rod Husband, the president and director of Global Hunter, said, “The encouraging molybdenum result of the first hole coupled with rhenium grades similar to other porphyry molybdenum deposits is very exciting and adds additional value and potential to the Rabbit South project. We look forward to the rest of the results from the program.”
Rhenium is found together with other metals and range from 0.002 to 0.2 percent in molybdenum and is commercially only recovered as a by-product from molybdenite concentrates. It is a rare and valuable metal that currently trades at approximately US$12,100 per kilogram and is used for catalysts (in unleaded gasoline), electronic devices, thermocouples, temperature controls, heating elements, rhenium-molybdenum alloys and coatings.
SAMPLE HANDLING AND PREPARATION
A summary of sample preparation and method of molybdenum and rhenium analysis is herewith presented. The drill core is placed in wooden boxes by employees of Foraco, who have instructions not to allow anybody but the Company’s geological/technical staff to inspect or handle the core boxes. Core boxes are numbered by the drillers at the drill, and wooden blocks with marked depth are placed at the end of each run. The core is collected daily by the Company’s employees and transported to a warehouse in Kamloops, British Columbia for logging and sampling.
The core is logged and marked in two metres length for sampling and split longitudinal in half with a mechanical core splitter. One half is placed in individual heavy-duty plastic sample bags. The sample tag (a unique five-digit sample number) assigned to the sample and included in the bag and the bag is sealed. The other half of the core is returned to the core boxes for storage and a sample tag is stapled to the core box at the beginning of each sample.
The Company has designed a QA/QC program with two commercial molybdenum-copper certified standards from CDN Resource Laboratories Ltd. inserted at a rate of five every 100 samples. In addition a coarse blank is inserted at irregular frequency following obvious higher-grade mineralization for quality control of sample preparation. For characterization of the homogeneity of the mineralization duplicate quarter core samples are collected at a frequency of 4 every 100 by longitudinal split of the half core. Both quarter core samples are assigned a separate five-digit sample number.
All samples are submitted to EcoTech Laboratory Ltd. (“EcoTech”) in Kamloops, British Columbia, The laboratory is ISO 9001-2000 Certified and a division of the Alex Stewart Group. The samples are initially crushed to 70 percent of minus 10 mesh, split using a standard Jones riffle splitter to a nominal 250 grams sample and pulverized to 95 percent of minus 150 mesh. From this material 0.5 gram is submitted for multi-element mass spectrometer Induced Couple Plasma analysis including molybdenum and rhenium. Higher-grade molybdenum samples are re-analyzed for molybdenum with a 0.001 percent detection limit. EcoTech have its own QA/QC program with re-analysis of every 10 pulp, collection of a second split every 35 samples, and insertion of commercial standards.
The core stored in the Company’s warehouse in Kamloops has 24 hours a day security company service.
Global Hunter’s Exploration Manager, Tor Bruland, M. Sc., P.Geo. (B.C.), designed the drilling program, and has reviewed and approved the technical information in this news release. The diamond drilling is supervised by project manager, Donald G. Allen, M.A.Sc., P. Eng. (B.C.). Both are the Qualified Persons as defined by National Instrument 43-101.
ABOUT RABBIT SOUTH
The property consists of 1,900 hectares located near Kamloops, British Columbia, 30 kilometers North East of the Highland Valley copper mine, and is accessible year round by highways and logging roads.
The molybdenum mineralization at Roper Lake was discovered in 1959 by Kennco Exploration (Western) Ltd. and was first drilled by Dominic Lake Mining Co. Ltd. in 1967 before being explored further between 1979 and 1981 by Cominco Ltd. Global Hunter optioned the property in January 2004 and has since completed two drill programs in 2005 and 2007.
On Behalf of the Board of Directors
GLOBAL HUNTER CORP.
Rod Husband, P.Geo. (B.C.), President
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Global Hunter Corp. Investor Relations (604) 681-4653 or 1-866-282-8398 (604) 683-6557 (FAX) Email: email@example.com Website: www.globalhunter.ca
SOURCE: Global Hunter Corp.