Golden Hope Mines Ltd. (GOLHF: OTC Link) | Golden Hope Mines: Drill Update and Drill Extension

GNH: TSX Venture
GOLHF: OTCQX

TORONTOAug. 19, 2011 /CNW/ – Golden Hope Mines (TSXV: GNH)(OTCQX: GOLHF) – Golden Hope Mines Limited is pleased to report an update on its Summer 2011 diamond drill campaign in Southeastern QuebecCanada. The initial program is for 6 holes or approximately 2800 metres.

SGS Canada-Geostat, independent technical advisors to Golden Hope and in close co-operation with the GNH technical team, designed this drilling program to verify past results and to further test the two main zones explored to date; the T1 and T2 zones to depth.

The company has completed 4 of the 6 initial holes and is currently drilling its 5th hole. A table of the holes and the depth of the holes is presented below.

The core from the drill holes undergo a detailed geological and structural logging procedure which are then cut and sampled. The samples are then sent to the laboratory where sample preparation specific for the gold mineralization at Bellechasse-Timmins is completed prior to being assayed.

Of the holes completed to date, Hole BD2011-157 has been logged, cut and sent out for assaying to SGS Minerals Services in Toronto, Ontario.

A map of the proposed drill holes is available on the company’s web site at http://www.goldenhopemines.com/exploration/bellechase_timmins_gold/

Golden Hope Mines is pleased to announce that it has extended its diamond drill campaign by an additional 2000 metres. Golden Hope will continue to use the services of Forages Mercier of Val D’or Quebec.

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.

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. Various factors 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 Golden Hope’s registered filings at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About SGS Canada-Geostat:

SGS has over 25 years of experience in providing the mining industry with computer-assisted ore reserve estimation services using mainly geo-statistical techniques. SGS is known globally as the expert in ore body modeling and reserve evaluation. SGS utilizes the disciplines of geology, statistics, and mining engineering to provide its clients with accurate and timely reserve and modeling solutions.

SGS is a pioneer in computer-based ore body modeling and resource estimation, providing these services since 1981. SGS has provided modeling and resource estimation solutions to companies involved in the mining of gold and precious metals, base metals, iron ore, coal, uranium, diamonds and industrial minerals.

SGS produces independent qualification reports for companies worldwide including due diligence audits, technical reports, property evaluation, prefeasibility studies and certification of reserves.

About Golden Hope Mines Limited:

Golden Hope is a mineral exploration company that seeks to grow shareholder value through the acquisition, exploration and development of potentially large-scale gold and base metal projects suitable for underground and/or open-pit mining. The company’s focus is in southeastern QuebecCanada. The company’s claim blocks lie within an area that extends approximately 100 kilometres along the Appalachians of southern Quebec from near Ste-Lucie-de-Beauregard to about 16 kilometres southwest of Beauceville. The Bellechasse-Timmins gold deposit lies 5 kilometres southeast of St-Magloire within the Bellechasse Belt an approximately 18 kilometre long mineralized area. The Bellechasse-Timmins gold deposit includes the T1, T2A, T2B, Ascot/Road gold zones, and eight known parallel gold-bearing breccias in the adjoining 88 Diorite. The company is also working to develop other targets within its claim blocks including the FSG gold and base metal target, the St-Luc (Roux) target, Chute du Bras, the LG showing, Moose Cliff, and Talon. For further information on Golden Hope Mines Limited please visit www.goldenhopemines.com

 

 

For further information:

Golden Hope Mines Limited

Frank Candido
: President, Director

514-750-8218
416-864-0175 (FAX)
fcandido@goldenhopemines.com
info@goldenhopemines.com
www.goldenhopemines.com

or

Public Relations Canada:
Paradox Public Relations

Corporate Communications

1-866-460-0408

or


Investor Relations USA:
American Capital Ventures

Richard Hull:
305-918-7000

Article source: http://www.otcmarkets.com/stock/GOLHF/news?id=34479

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