Developing Bellechasse-Timmins Gold Deposit
New Discovery Resulting in a 20KM Mineralized Gold Belt
Message: News out on drilling and blasting
| November 24, 2008 |
| Golden Hope Mines Drills Second Target at Riviere des Plantes Project; Begins Bulk Sampling on Timmins 2 |
| TORONTO, ONTARIO--(Marketwire - Nov. 24, 2008) - GOLDEN HOPE MINES LTD. (TSX VENTURE:GNH)(PINK SHEETS:GOLHF): Golden Hope Mines announces the transfer of its diamond drill rig to its second target on the Riviere des Plantes Claims and continued testing of its Timmins 2 deposit by bulk sampling. Riviere des Plantes Drilling began on Monday November 24th to test the second of Golden Hope's ultrabasic targets in the Beauce area of Quebec. The Riviere des Plantes property covers one of a series of ultrabasic intrusions occurring along a northeast to southwest trend extending from north of the Bellechasse Gold Belt, southwest to include parts of the historic Beauce alluvial gold camp. Alluvial workings in the Riviere des Plantes drainage produced an unknown quantity of gold and platinum. The drill target is a structure obliquely cross-cutting the serpentinite. The structure contains extensive silicification of the serpentinite and crosscutting quartz veining. The silicification was identified in the 1950's but has no recorded testing for gold. Timmins Gold Deposit: The Company has also started its bulk sampling program on previously unexposed quartz veining near the west end of the Timmins 2 structure. The area being tested is the surface extension of mineralization intersected by diamond drill holes BD 2008 79 to BD 2008 89 that were completed during the summer of 2008. Trenching has exposed quartz veining similar to the veining in the Timmins 1 deposit. Drilling, blasting, and collecting 200+ kg samples per 2 metres intervals across the approximately 26 metres width of the structure should be underway this week. The nature of the gold mineralization in the Timmins zones requires large samples to provide reliable data for grade estimation. The +200 kg samples will be crushed, split and +20 mesh gold recovered at our facility in St. Magloire. Multiple splits of the -20 mesh fractions will be sent to Eastern Analytical for standard fire assay. Results will be released when available. This is an important part of the program to define this gold deposit. Timmins 2 was uncovered during our 2007 exploration program. The resulting information could greatly expand the total size of this body while identifying higher grade sections. T 1 Diamond Drill Core sampling: Under recommendation from its field managers, GNH will take approximately 350 samples from diamond drill core collected during the 2007 diamond drill program on Timmins 1. Although large samples are required to determine tenor in this deposit, the diamond drill core assays will better define the geometries of gold bearing vein systems at surface and how the vein systems continue with depth. Results will be released when available. About Golden Hope Mines Ltd. Golden Hope Mines Limited is a mineral exploration company that seeks to grow shareholder value through the acquisition, exploration and development of potentially large-scale gold, silver and base metal projects suitable for underground and/or open-pit mining. The company's two areas of interest are located in Quebec, Canada and Maine, U.S.A. The Bellechasse gold project in Quebec includes the Timmins and Ascot gold zones, the Coucou volcanic target and a number of newly claimed serpentinite geological formations. For further information on Golden Hope, visit www.goldenhopemines.com. Forward-Looking Information 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. Factors that 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 registered filings at www.sedar.com. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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