Golden Hope Acquires Riviere des Plantes Property as Part of the Bellechasse-Chaudiere Gold Project in Southern Quebec
June 17 2008 - 8:00AM
Marketwired
TORONTO, ONTARIO (PINK SHEETS: GOLHF) is pleased to announce the
acquisition of an additional property as part of the company's
Bellechasse-Chaudiere project in southern Quebec. The Riviere des
Plantes Property is on the strike extension of the serpentinites
identified north of the Bellechasse gold belt and is an extension
into the historic Beauce alluvial gold camp. It is contiguous with
the 1200 claims the company already holds in the area.
The Beauce region of Quebec, Canada is renowned as one of the
earliest placer gold mining area in North America. Several large
nuggets, including two that weighed 56 ounces and 48 ounces
respectively were extracted from oxidized pre-glacial river
gravels. An unknown quantity of gold and platinum was extracted
from the black sand-rich gravels from the lower stretches of
Riviere des Plantes. Placer gold and platinum have also been
extracted from river gravels about 25 Km south of the property at
the junction of the Chaudiere and Liniere Rivers. The bedrock
sources for the gold and platinum placers in the Gilbert,
Chaudiere, Liniere rivers, and the Riviere des Plantes have yet to
be identified.
The Riviere des Plantes property includes twenty two (22) mining
claims totaling approximately 1308 hectares (3,232 acres).
The terms of the agreement consist of:
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Date Cash Payment GNH Shares Property Expenditures
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Upon closing $ 25,000.00 100,000 -
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1st anniversary $ 50,000.00 150,000 $100,000
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2nd anniversary $ 75,000.00 200,000 $150,000
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3RD anniversary - - $250,000
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Total: $150,000 450,000 $500,000
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The property is contiguous to the claims held by Golden Hope
Mines Limited and together cover approximately 90% of a large
serpentinite body with which the known mineralization is
associated. This serpentinite is one of 10 targets staked by Golden
Hope during the last 12 months and is a priority for exploration
during the 2008 program.
Part of the northern half of the property was explored for iron
and industrial minerals during the l880's and 1890's. During that
period several shallow prospect pits were excavated along what
today is now known as the Brompton - Baie Verte Line. At the time
this belt was called the Serpentine Belt. The iron oxide showings
located within St. Charles, St. Gaspard and Range A contain 40-55%
iron, 7-16% titanium and trace to 10% chrome.
Between 1950 and 1955 companies such as Johns Manville Asbestos
Co., Strategic Metals Corp. and Golden Age Mines conducted
exploration work on the property. Diamond drilling completed by
Strategic Metals intersected silicified serpentinite and
pyritiferous black slates in two separate inclined holes. No assays
for precious metals were made on samples from these silicified
intervals. A third drill hole west of the two drill holes noted
above intersected a silicified zone that returned assays of 2 g/t
Au, 46 g/t Ag and 0.10% Cu across 14 meters. (all results are
historical and non NI 43-101 compliant).
In 1986 -1987 Macamic Resources and Aurochs Exploration
conducted exploration work on the northern half of The Riviere des
Plantes property. The drill holes tested the depth extensions of
iron oxide occurrences discovered in the late 1800s. The best drill
intercept returned 28 meters of semi-massive to massive magnetite
with up to five percent pyrite and trace to two percent pyrhotite
and chalcopyrite mineralization. Recorded assays showed anomalous
precious metal values associated with elevated nickel, chrome,
copper and zinc values.
Prospecting by Vendittelli and Gartner in 2001 identified
elevated levels of PGE in the exposed serpentinized ultramafic
rocks on the north side the property (up to 1.3 gm/t Pt in grab
samples).
The property is drill ready with 3 quality IP/resistivity
anomalies in the vicinity of a silicified zone within the melange
where gold has been intersected in drilling. Two other significant
targets were identified on strike on the western grid.
The historical data above continues to demonstrate the
exploration potential of the company's serpentinite targets which
have been identified from Bellechasse to south-west of the
Chaudiere River, a distance of more than 100 kms.
Golden Hope Mines has already begun its field exploration
program in Quebec. A forthcoming news update will describe our 2008
activities in more detail.
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.
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-Chaudiere gold project in
Quebec includes the Timmins and Ascot gold zones, the Coucou
volcanic target and a number of newly claimed serpentinite
bodies.
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.
Contacts: Golden Hope Mines Ltd. Louis Hoel President (416)
365-3509 (416) 864-0175 (FAX) Email: info@goldenhopemines.com
Website: www.goldenhopemines.com
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