Golden Hope Mines: Drill Update and Drill Extension
GNH: TSX Venture
TORONTO, Aug. 19, 2011 /PRNewswire/ – Golden Hope Mines (TSXV: GNH)(OTCQX: GOLHF) – Golden Hope Mines Limited is pleased to report an update on its
Summer 2011 diamond drill campaign in Southeastern Quebec, Canada. The
initial program is for 6 holes or approximately 2800 metres.
SGS Canada-Geostat, independent technical advisors to Golden Hope and in
close co-operation with the GNH technical team, designed this drilling
program to verify past results and to further test the two main zones
explored to date; the T1 and T2 zones to depth.
The company has completed 4 of the 6 initial holes and is currently
drilling its 5(th) hole. A table of the holes and the depth of the holes is presented
___________________________________________________________ |Hole |Depth | |________________|__________________________________________| |BD2011-157 |467 metres | |________________|__________________________________________| |BD2011-158 |499 metres | |________________|__________________________________________| |BD2011-159 |450 metres | |________________|__________________________________________| |BD2011-160 |573 metres | |________________|__________________________________________| |BD2011-161 |315 metres (August 17th), planned for 436m| |________________|__________________________________________| |BD2011-162 |planned for 428 metres | |________________|__________________________________________| |Total (to date) |2304 metres | |________________|__________________________________________|
The core from the drill holes undergo a detailed geological and
structural logging procedure which are then cut and sampled. The
samples are then sent to the laboratory where sample preparation
specific for the gold mineralization at Bellechasse-Timmins is
completed prior to being assayed.
Of the holes completed to date, Hole BD2011-157 has been logged, cut and
sent out for assaying to SGS Minerals Services in Toronto, Ontario.
A map of the proposed drill holes is available on the company’s web site
Golden Hope Mines is pleased to announce that it has extended its
diamond drill campaign by an additional 2000 metres. Golden Hope will
continue to use the services of Forages Mercier of Val D’or Quebec.
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.
This release includes certain statements that may be deemed
“forward-looking statements”. All statements in this release, other
than statements of historical facts, that address future production,
reserve potential, exploration drilling, exploitation activities and
events or developments that the company expects are forward-looking
statements. Although the company believes the expectations expressed in
such statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results or
developments may differ materially from those in the statements.
Various factors could cause actual results to differ materially from
those in forward-looking statements. These include market prices,
exploitation and exploration successes, continued availability of
capital and financing, and general economic, market or business
conditions. Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments may
differ materially from those projected in the forward-looking
statements. For more information on the company, investors should
review Golden Hope’s registered filings at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
About SGS Canada-Geostat:
SGS has over 25 years of experience in providing the mining industry
with computer-assisted ore reserve estimation services using mainly
geo-statistical techniques. SGS is known globally as the expert in ore
body modeling and reserve evaluation. SGS utilizes the disciplines of
geology, statistics, and mining engineering to provide its clients with
accurate and timely reserve and modeling solutions.
SGS is a pioneer in computer-based ore body modeling and resource
estimation, providing these services since 1981. SGS has provided
modeling and resource estimation solutions to companies involved in the
mining of gold and precious metals, base metals, iron ore, coal,
uranium, diamonds and industrial minerals.
SGS produces independent qualification reports for companies worldwide
including due diligence audits, technical reports, property evaluation,
prefeasibility studies and certification of reserves.
About Golden Hope Mines Limited:
Golden Hope is a mineral exploration company that seeks to grow
shareholder value through the acquisition, exploration and development
of potentially large-scale gold and base metal projects suitable for
underground and/or open-pit mining. The company’s focus is in
southeastern Quebec, Canada. The company’s claim blocks lie within an
area that extends approximately 100 kilometres along the Appalachians
of southern Quebec from near Ste-Lucie-de-Beauregard to about 16
kilometres southwest of Beauceville. The Bellechasse-Timmins gold
deposit lies 5 kilometres southeast of St-Magloire within the
Bellechasse Belt an approximately 18 kilometre long mineralized area.
The Bellechasse-Timmins gold deposit includes the T1, T2A, T2B,
Ascot/Road gold zones, and eight known parallel gold-bearing breccias
in the adjoining 88 Diorite. The company is also working to develop
other targets within its claim blocks including the FSG gold and base
metal target, the St-Luc (Roux) target, Chute du Bras, the LG showing,
Moose Cliff, and Talon. For further information on Golden Hope Mines
Limited please visit www.goldenhopemines.com.
Public Relations Canada: Paradox Public Relations
Investor Relations USA: American Capital Ventures
Richard Hull: 305-918-7000
SOURCE Golden Hope Mines Limited