Drilling Report
October 03 2006 - 3:00AM
UK Regulatory
HIDEFIELD GOLD PLC
ADDITIONAL HIGH GRADE GOLD RESULTS REPORTED AT EAST SANTA CRUZ, ARGENTINA
PHASE 2 DRILLING PROGRAMME COMMENCES
Hidefield Gold plc ("Hidefield" or the "Company", HIF:AIM) is pleased to report
the latest drill results including high grade gold mineralization intercepted
in the Coyote Sur vein system at the Company's Martinetas property in East
Santa Cruz, Argentina where another substantial drilling programme has now
commenced.
Three core holes at Coyote Sur on the Martinetas property had intercepts with
values up to 7.96 gpt gold along 12.7 metres (4.58 gpt with high grade
intervals cut to 34.3 gpt) in CYS-D06-01 and 38.21 gpt gold along 2.05 metres
(9.24 gpt with high grade intervals cut to 34.3 gpt) in CYS-D06-02. A further
nine holes on the Cerro Oro and Armadillo vein systems, also located in the
Martinetas sector of the project area, all intercepted gold mineralization in
multiple veins. Following suspension of drilling for the winter months, the
second phase of the programme totaling 8,000 metres resumed in late September.
The Coyote Sur vein system consists of a wide zone of multiple veining
traceable in trenches and limited drilling for a strike length of about 100
metres and to a depth of 50 metres. It is open in both strike directions and at
depth. Following are significant drill results at Coyote Sur from the recent
programme:
Drill Hole From (m) To (m) Thickness (m) gpt Au gpt Ag
CYS-D06-01 22.40 35.10 12.7 7.96 5.60
or 12.7 4.58 (cut) 5.60
including
24.10 24.50 0.40 77.10 48.10
and
26.55 28.15 1.60 17.91 18.90
and
33.27 34.45 1.18 16.74 1.46
46.00 48.00 2.00 2.60 2.25
53.90 55.15 1.25 2.87 7.15
57.56 59.50 1.94 3.69 16.73
CYS-D06-02 22.55 25.55 3.00 3.09 6.02
including
22.55 23.00 0.45 16.45 20.60
27.60 28.85 1.25 15.72 3.72
or 1.25 12.70 (cut) 3.72
34.75 36.80 2.05 38.21 23.43
or 2.05 9.24 (cut) 23.43
including
35.15 35.60 0.45 166.25 90.95
45.00 45.50 0.50 4.18 12.40
50.50 51.00 0.50 4.73 72.70
73.50 74.30 0.80 41.52 70.20
or 0.80 18.77 (cut) 70.20
CYS-D06-03 18.40 19.40 1.00 15.40 6.40
or 1.00 14.08 (cut) 6.40
37.00 38.00 1.00 1.26 14.10
Note: Intervals represent 70-80% of true thicknesses
The Cerro Oro zone consists of multiple, sub parallel veins, with individual
thicknesses ranging from 0.50 to 1.50 metres, located immediately south of
Coyote Sur. The zone is traceable over a collective strike length of 200 metres
and to a maximum depth of about 150 metres. All four drill holes in the current
programme contained significant mineralization with values to 7.78 gpt gold and
27.5 gpt silver along 1.55 metres including 18.70 gpt gold along 0.45 metres.
The Armadillo vein system is located 1.5km southwest of Cerro Oro. The vein has
a strike length of 175 metres and has been tested to a depth of 75 metres. Five
holes in the current programme had vein intercepts with values up to 7.90 gpt
gold and 16.19 gpt silver along 2.45 metres. The zone is open to depth.
Drilling resumed at East Santa Cruz on 20 September. The programme, comprising
8,000 metres in approximately 70 drill holes, is focused on resource
delineation within the Sulfuro and Arco Iris veins in the La Paloma sector of
the project and the Coyote Norte, Coyote Sur, Cerro Oro and Armadillo veins at
Martinetas. Initial metallurgical test work, engineering and environmental
studies in preparation for an economic scoping study to assess potential mine
development at the project site are also being undertaken in the current
programme. The economic scoping study is expected to commence before the end of
the year.
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 in past work. The current
programme is testing only a small part of the identified vein systems within
the license area.
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
Ken Judge + 44 77 33 001 002
Paul Ensor + 44 20 7590 5503
Hanson Westhouse LLP
Tim Feather + 44 113 246 2610
END
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