Golden Hope Mines' Bulk Sample Program at Bellechasse Property Yields High Grade Gold Results
January 30 2008 - 10:26AM
Marketwired Canada
Golden Hope Mines Ltd. (TSX VENTURE:GNH)(PINK SHEETS:GOLHF) today released
preliminary assay results from the fall 2007 bulk sampling program at its
Bellechasse property in the Eastern Townships of Quebec.
A total of 45 consecutive bulk samples were taken, each representing one metre
of trench across the central part of the Timmins 1 mineralized structure. The
initiative was part of a larger program that also included trenching on Timmins
2 and the Ascot Vein (see maps at www.goldenhopemines.com).
To date, the company has received results for 38 of the 45 samples from Timmins
1. Results for 25 of these samples range from 27.029 g/t to 0.948 g/t gold and
are set out in Table 1 on the next two pages of this news release.
Complete data for all 38 Timmins 1 samples are posted at the company's website.
When results for the remaining seven Timmins 1 samples and the samples from
Timmins 2 are returned, they will be released in the same manner.
"The preliminary assays from Timmins 1 are very promising and provide the basis
for further exploration," said Louis Hoel, President and CEO of Golden Hope
Mines. "Our claim group in Bellechasse is rich in targets and offers tremendous
potential for growth."
All 45 samples were crushed so that approximately 95% passed through a 20 mesh
(approximately 850 �) screen. Each sample was progressively riffle split at the
company's onsite sample preparation facility. The procedure provided two
one-kilogram splits per sample for standard fire assay at Eastern Analytical
Limited in Springdale, Newfoundland.
A total of 28 consecutive samples, representing a width of 28 metres, assayed an
average of 4.65g/t gold. The 38 samples for which results are available give an
average grade of 3.56g/t gold.
Table 1. Fire assay results
from Timmins 1 trench at Bellechasse, Quebec
-------------------------------------------------------------------------
Sample # Horizontal Trench Sample Weight 1kg Au Au Avg.
Interval As Received Sample Grade
------------------
Begin (m) End (m) (kg) Splits (ppb) (g/t)
-------------------------------------------------------------------------
74761 2.00 3.00 81.6 74761-40C 1105 1.251
74761-40D 1397
-------------------------------------------------------------------------
74762 3.00 4.00 76.8 74762-40C 2080 1.955
74762-40D 1830
-------------------------------------------------------------------------
74763 4.00 5.00 90.5 74763-40C 3615 2.623
74763-40D 1630
-------------------------------------------------------------------------
74764 5.00 6.00 90.000 74764-40C 2758 3.069
74764-40D 3379
-------------------------------------------------------------------------
74765 6.00 7.00 96.800 74765-40C 4448 2.922
74765-40D 1395
-------------------------------------------------------------------------
74766 7.00 8.00 81.400 74766-40C 585 0.948
74766-40D 1310
-------------------------------------------------------------------------
74768 9.00 10.00 69.900 74768-40C 1073 1.070
74768-40D 1066
-------------------------------------------------------------------------
74774 15.00 16.00 69.400 74774-40C 34669 27.029
74774-40D 19388
-------------------------------------------------------------------------
74775 16.00 17.00 88.2 74775-40C 2210 1.857
74775-40D 1503
-------------------------------------------------------------------------
74776 17.00 18.00 86.200 74776-40C 7060 6.361
74776-40D 5661
-------------------------------------------------------------------------
74777 18.00 19.00 75.300 74777-40C 1093 1.283
74777-40D 1472
-------------------------------------------------------------------------
74778 19.00 20.00 65.2 74778-40C 16570 13.953
74778-40D 11335
-------------------------------------------------------------------------
74779 20.00 21.00 71.5 74779-40C 7943 9.055
74779-40D 10166
-------------------------------------------------------------------------
74781 22.00 23.00 79.3 74781-40C 1346 1.040
74781-40D 734
-------------------------------------------------------------------------
74782 23.00 24.00 72.3 74782-40C 21648 10.851
74782-40D 54
-------------------------------------------------------------------------
74785 26.00 27.00 72.200 74785-40C 11051 9.288
74785-40D 7524
-------------------------------------------------------------------------
74786 27.00 28.00 96.1 74786-40C 20178 20.366
74786-40D 20553
-------------------------------------------------------------------------
74787 28.00 29.00 75.3 74787-40C 4764 4.244
74787-40D 3724
-------------------------------------------------------------------------
74788 29.00 30.00 62 74788-40C 14323 7.711
74788-40D 1098
-------------------------------------------------------------------------
74789 30.00 31.00 79 74789-40C 5503 3.768
74789-40D 2032
-------------------------------------------------------------------------
74790 31.00 32.00 61.1 74790-40C 1490 1.432
74790-40D 1374
-------------------------------------------------------------------------
74791 32.00 33.00 67.8 74791-40C 977 1.248
74791-40D 1519
-------------------------------------------------------------------------
74792 33.00 34.00 75.21 74792-40C 2376 1.571
74792-40D 765
-------------------------------------------------------------------------
74794 35.00 36.00 77.800 74794-40C 793 1.186
74794-40D 1579
-------------------------------------------------------------------------
74795 36.00 37.00 72.8 74795-40C 1129 1.007
74795-40D 884
-------------------------------------------------------------------------
2008 exploration program
Golden Hope Mines expects to pursue an ambitious schedule of exploration
activities in 2008. Current plans call for crews to:
- Explore the Timmins deposit and continue to collect data to permit preparation
of an NI 43-101 report;
- Locate and define additional Timmins-type deposits elsewhere on the
Bellechasse property; and
- Explore the newly staked serpentinite targets on Bellechasse.
"Given the encouraging assay results we have received from Timmins 1 to date, we
believe the potential is there for similar mineralization elsewhere on the
property," said Mr. Hoel.
James E. Tilsley, P.Eng is acting as the qualified person (QP) for Golden Hope
Mines Ltd. in compliance with National Instrument 43-101 and has reviewed the
technical contents of this release.
About Golden Hope
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. 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.
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