Drilling Report
September 12 2006 - 3:00AM
UK Regulatory
ADDITIONAL HIGH GRADE GOLD REPORTED AT EAST SANTA CRUZ, ARGENTINA
Hidefield Gold plc ("Hidefield" or the "Company", AIM:HIF) is pleased to report
additional high grade gold mineralisation intercepted in drill holes at the
Company's East Santa Cruz gold project, Argentina. Six of the first seven holes
on the Coyote Norte vein in the Martinetas sector of the project area have
significant vein intercepts including 12.23 grammes per tonne gold over 2.0
metres in CYN-06-01. Five of the initial seven holes, totaling 866 metres, on
the Arco Iris vein in the La Paloma sector of the project 35km northwest of
Martinetas had significant vein intercepts and include 8.66 grammes per tonne
gold over 3.30 metres in A-D06-4.
The Coyote Norte vein occurs within a swarm of steeply-dipping, west to
northwest-striking veins in the Martinetas sector of the project area. The
principal Coyote Norte vein has been traced in trenches for about 500 metres
but drilled for only 200 metres along strike and to a maximum depth of 75
metres; it remains open in both strike directions and at depth. Well
mineralized but narrow veins averaging 0.50 to 1.0 metres thickness with grades
up to 23.20 grammes per tonne gold occur in its immediate hanging wall and
footwall.
Following are significant results of the Coyote Norte drill holes.
Drill Hole From (m) To (m) Thickness gpt gpt Vein
(m)
Au Ag
CYN-D06-01 46.10 46.80 0.70 3.79 22.8 Unnamed
54.90 56.90 2.00 12.23 37.91 Coyote Norte
Including
55.35 55.75 0.40 37.10 69.10
CYN-D06-03 25.80 26.74 0.94 7.61 13.65 Unnamed
Including
25.80 26.20 0.40 16.55 26.60
36.40 37.15 0.75 3.52 8.7 Unnamed
49.55 49.20 4.65 5.11 13.96 Coyote Norte
Including
46.50 47.90 1.40 12.45 41.29
66.20 66.60 0.40 4.37 8.90 Unnamed
CYN-D06-04 7.18 7.60 0.42 23.20 5.80 Unnamed
46.50 47.00 0.50 4.97 5.25 Unnamed
50.95 53.15 2.20 11.14 16.34 Coyote Norte
Including
51.40 51.85 0.45 32.80 36.70
55.09 55.80 0.71 2.79 4.40 Unnamed
CYN-D06-05 11.73 12.14 0.41 15.30 28.40 Unnamed
23.31 23.71 0.40 9.08 35.50 Unnamed
38.76 39.16 0.40 14.45 32.40 Unnamed
80.70 81.30 0.60 5.31 3.70 Unnamed
95.65 96.05 0.40 0.48 10.45 Coyote Norte
CYN-D06-06 8.65 10.88 2.23 1.58 1.70 Unnamed
40.78 42.85 2.07 10.87 51.96 Coyote Norte
Including
41.20 41.80 0.60 22.30 57.60
CYN-D06-07 57.45 58.43 0.98 2.51 17.70 Coyote Norte
Notes:
Drill intercepts in Coyote Norte holes represent approximately 70-80 percent of
true thicknesses.
The Arco Iris vein has been traced in trenches for over a kilometre but tested
by drilling for only 350 metres. The vein remains open along both strike
directions and in part below a depth of about 50 metres.
Following is a summary of significant vein intercepts in the Arco Iris drill
holes.
Drill Hole From (m) To (m) Interval (m) gpt gpt
Au Ag
A-D06-02 63.75 65.50 1.75 2.31 1.92
A-D06-03 29.90 34.35 4.45 1.76 2.24
Including
30.90 32.90 2.00 3.07 1.70
100.35 102.0 1.65 2.04 3.41
105.50 108.65 3.15 3.21 16.94
A-D06-04 38.10 41.40 3.30 8.66 6.11
Including
38.10 39.20 1.10 21.49 13.21
78.60 84.10 5.50 7.26 5.85
Including
80.55 82.30 1.75 17.14 12.77
A-D06-06 40.25 44.90 4.65 8.07 8.29
Including
41.10 42.84 1.74 19.45 17.95
A-D06-07 44.00 45.50 1.50 2.19 4.83
Note: Drill intercepts represent near true thicknesses.
Three holes, totaling 365 metres, were also drilled on the Violeta vein, and
one for 89 metres on the Princessa vein, at La Paloma. All the holes had
multiple vein intercepts containing anomalous gold mineralisation with values
up to 3.05 grammes per tonne gold over 0.50 metres in Violeta Hole V-D06-03.
Drill results from thirteen holes on the Sulfuro vein, also in the La Paloma
area, were reported in announcements of 28th June and 28th July, 2006.
Results of core holes completed on the Coyote Sur, Cerro Oro and Armadillo vein
systems, located just south of Coyote Norte veins in the Martinetas sector,
will be reported as received and evaluated over the next several weeks.
The East Santa Cruz gold project comprises twenty exploration and development
licences, totaling 127,000 hectares, on which extensive gold-bearing,
epithermal vein systems have been identified. The Company's current drilling
programme, temporarily suspended during the southern winter months, is focused
on resource delineation within the La Paloma and Martinetas licence areas where
limited work by past operators had outlined significant gold mineralization in
trenches and shallow drill holes.
Activities planned for the field programme schedule to resume in September will
include further resource definition drilling and evaluation of less developed,
but equally prospective, parts of the large property.
John Prochnau BSc (Mining Engineering), MSc (Geology), Hidefield's Chief
Executive Officer, has reviewed and approved the content of this announcement.
Editor's Note:
About Hidefield
Hidefield is a gold company with a focus on the acquisition and development of
highly prospective projects in North and South America. The Company has a
diverse portfolio of projects, those of which in South America are directly
held as are the projects in Alaska, while those in Canada, Nevada and Arizona
are held in independent, self-funded associate companies.
Hidefield's substantial direct gold project interests are principally in
Argentina where the Company is actively exploring the advanced stage East Santa
Cruz gold project in Santa Cruz Province and operates in joint venture with
Minera Sud Argentina S.A. with which it is currently exploring a number of gold
exploration licenses in the Patagonian provinces of Santa Cruz, Chubut, and Rio
Negro. In Brazil the Company is focused on the evaluation of the advanced stage
Cata Preta gold project near the historic city of Ouro Preto in the productive
Quadrilatero Ferrifero region of Minas Gerais state.
In Alaska Hidefield has a 60% interest in the Golden Zone and South Estelle
mineral projects and an option to earn up to 100% interest, subject to a 2.5%
NSR, by making a series of staged cash, share and property expenditures. The
Golden Zone property is located 240 km north of Anchorage and contains a
measured and indicated resource of approximately 253,000 ounces of gold,
1,180,000 ounces of silver and 6,114,000 pounds of copper. The South Estelle
property is located approximately 175 km northwest of Anchorage and 230 km
southwest of the Golden Zone project and adjoins Kennecott's Whistler
copper-gold property.
For more information on Hidefield go to www.hidefieldgold.com
For further information on this release, please contact:
Hidefield Gold plc + 44 77 33 001 002
Ken Judge + 44 20 7590 5503
Paul Ensor
Hanson Westhouse LLP + 44 113 246 2610
Tim Feather
END
Hidefield Gold (LSE:HIF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Hidefield Gold (LSE:HIF)
Historical Stock Chart
From Jul 2023 to Jul 2024
