High Desert Gold Reports Drilling Results from the Gold Springs Project at Grey Eagle, Including 20 Metres Averaging 2.8 g/t Gold Equivalent (AuEq(i))
Published : July 10, 2013
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 10, 2013) - High Desert Gold Corporation (News - Market indicators)(OTCQX:HDGCF) ("HDG" or the "Company") is pleased to report that it has now completed 34 reverse circulation drill holes in the 2013 Gold Springs drill program. The latest series of 22 holes were drilled in the Grey Eagle Zone on the Nevada side of the project. The first 6 of this latest series of holes are reported here.

The best results were obtained from GE13-05, the hole furthest to the SW, drilling the extension to the Grey Eagle mineralized zone:

20 metres averaging 2.84 g/t AuEq*
within
61 metres averaging 1.07 g/t AuEq*
(hole ends in mineralization)
 *(AuEq) calculations reflect gross metal content using a metal price ratio of 57.14 Au/Ag and have not been adjusted for metallurgical recoveries.

"This strong set of results continues to grow the mineralized zone at Grey Eagle and includes excellent grades. These results together with the earlier reported strong results from the Jumbo Zone in Utah continue to demonstrate that Gold Springs has the potential to host a significant gold deposit in two very mining friendly jurisdictions, Nevada and Utah," stated President and CEO, Ralph Fitch. "There are 18 areas of outcropping gold mineralization at Gold Springs, and to date we have demonstrated NI 43-101 Inferred resources at the two areas on which we have done substantial drilling. We are pleased that these mineralized zones continue to expand. We have also demonstrated excellent gold extractions in initial metallurgical tests and note that much of the drilled mineralization outcrops on the surface, making access to potential mining much cheaper."

The set of holes reported here were drilled along the 200 metre NE-SW block between GE-12-02 where the Company intersected 21 m of 5.6 g/t gold and 32.4 g/t silver in 2012 (See HDG-PR 12-14 dated August 16, 2012). Since the best hole in this set of results, GE-13-05, is the hole drilled furthest to the SW the mineralized zone is open to potential expansion in this direction.

The following table lists results from the first six holes from the latest series of holes in the 2013 drill program and demonstrates the importance of this developing zone.

Grey Eagle

Drill Hole Azimuth Dip from
(m)
to
(m)
length
(m)
gold
(g/t)
silver
(g/t)
AuEq*
(g/t)
 
                   
GE-13-01 120 -45 80.8 82.3 1.5 2.32 13.90 2.56 highest 1.5m interval
GE-13-01     76.2 93.0 16.8 0.85 13.49 1.17  
GE-13-01     44.2 93.0 48.8 0.42 6.45 0.53  
GE-13-01 and GE-13-02 are from the same collar    
GE-13-02 120 -65 59.4 61.0 1.5 2.26 15.40 2.53 highest 1.5m interval
GE-13-02     41.1 99.1 57.9 0.81 10.18 0.99  
GE-13-02     30.5 102.1 71.6 0.68 8.50 0.83  
                   
GE-13-03 120 -45 71.6 73.2 1.5 3.01 20.10 3.36 highest 1.5m interval
GE-13-03     57.9 76.2 18.3 0.89 6.68 1.01  
GE-13-03     57.9 79.2 21.3 0.84 6.59 0.96  
GE-13-03     57.9 106.7 48.8 0.67 7.59 0.80  
GE-13-03     54.9 112.8 57.9 0.59 6.83 0.71  
GE-13-03 and GE-13-04 are from the same collar      
  120 -65 56.4 57.9 1.5 2.28 7.30 2.41 highest 1.5m interval
GE-13-04     47.2 64.0 16.8 0.84 5.24 0.93  
GE-13-04     44.2 68.6 24.4 0.63 4.11 0.70  
GE-13-04     44.2 123.4 79.2 0.31 4.49 0.38  
                   
GE-13-05 120 -45 138.7 140.2 1.5 8.57 23.00 8.98 highest 1.5m interval
GE-13-05     132.6 144.8 12.2 3.64 27.53 4.12  
GE-13-05     129.5 149.4 19.8 2.49 19.78 2.84  
GE-13-05     88.4 149.4 61.0 0.92 8.67 1.07 Hole ended in mineralization
GE-13-05 and GE-13-06 are from the same collar      
                   
GE-13-06 120 -65 135.6 137.1 1.5 4.98 24.40 5.40 highest 1.5m interval
GE-13-06     128.0 140.2 12.2 1.74 21.64 2.12  
GE-13-06     125.0 153.9 29.0 0.91 12.81 1.13  
GE-13-06     102.1 153.9 51.8 0.58 8.28 0.73  
GE-13-06     102.1 175.3 73.2 0.43 6.45 0.55  

(The true width of these intercepts is not known but is believed to be between 80-95% of the length.)

*(AuEq) calculations reflect gross metal content using a metal price ratio of 57.14 Au/Ag and have not been adjusted for metallurgical recoveries.

The first 12 holes of the 2013 drilling program were drilled in the Jumbo Trend on the Utah side of the project. Nine of those holes are reported in the Company's press release dated June 5, 2013 (See HDG PR13-15).

Gold Springs is an 82/18 Joint Venture with Pilot Gold Inc. in which HDG holds an 82% interest and is the operator of the Joint Venture.

Detailed maps of the target areas in both Utah and Nevada can be found on the Company's website at http://www.hdggold.com/goldsprings.html.

The total inferred resource recently reported at Gold Springs is 415,254 AuEq*. This is a combination of resources estimated at the Jumbo and Grey Eagle targets as shown in the following tables:

The Gold Springs Inferred Resource Estimate as of March 28, 2013**:

    Gold Silver (AuEq*)
Cut-off Grade
(AuEq* g/t)
Tonnes Grade
(g/t)
Troy
Ounces
Grade
(g/t)
Troy
Ounces
Grade
(g/t)
Troy Ounces
0.3 g/t 19,373,085 0.48 301,756 10.4 6,476,149 0.67 415,254
0.6 g/t 7,401,016 0.81 193,145 14.4 3,422,896 1.06 253,119

Jumbo Target Inferred Resource Estimate

Cut-off Grade
(AuEq* g/t)
  Gold Silver (AuEq*)
  Tonnes Grade
(g/t)
Troy
Ounces
Grade
(g/t)
Troy
Ounces
Grade
(g/t)
Troy Ounces
0.3 g/t 16,473,441 0.45 239,275 11.0 5,843,533 0.65 341,683
0.6 g/t 6,334,657 0.74 151,118 15.0 3,058,804 1.01 204,713

Grey Eagle Target Inferred Resource Estimate

Cut-off Grade
(AuEq* g/t)
  Gold Silver (AuEq*)
  Tonnes Grade
(g/t)
Troy
Ounces
Grade
(g/t)
Troy
Ounces
Grade
(g/t)
Troy Ounces
0.3 g/t 2,899,643 0.67 62,482 6.8 632,617 0.79 73,570
0.6 g/t 1,066,359 1.23 42,027 10.6 364,092 1.41 48,406

Source: (HDG PR13-07, March 28, 2013)

*(AuEq) calculations reflect gross metal content using a metal price ratio of 57.14 Au/Ag and have not been adjusted for metallurgical recoveries.

**The qualified person who prepared the technical information regarding the resource estimate was Dr. A. Armitage, P.Geol., of GeoVector Management Inc., who is independent of the Company. Mineral resources that are not mineral reserves do not have to demonstrate economic viability, A block model was constructed using 5-metre by 10-metre by 10-metre blocks in the x, y and z directions respectively. Grades for gold and silver were interpolated into the blocks by the inverse distance squared method using a minimum of two and maximum of 10 composites to generate block grades. The Company is not aware of any environmental, permitting, legal, title, taxation, socio-political or other issues which would materially affect the resource estimate. For more details regarding this resource estimation, please see the Technical Report filed on SEDAR on May 9, 2013 and on the Gold Springs page at www.hdggold.com.

The Qualified Person on the Gold Springs property is Randall Moore, Executive Vice President of Exploration of High Desert Gold Corporation and he has reviewed and approved the content of this press release.

Assays were performed in Reno, Nevada by Inspectorate Laboratories, an ISO 9001:2000 Certified laboratory. Gold was analyzed by fire assay of a 30 gram sample with an ICP finish. All other elements were analyzed by the 50-4A-UT method.

ABOUT HIGH DESERT GOLD

The Company is a mineral exploration company that acquires and explores mineral properties, primarily gold, copper and silver, in North America. The major properties held by HDG are the Gold Springs gold project situated along the border between Utah and Nevada where it is the managing partner with an 82% controlling interest and the San Antonio project in Sonora, Mexico. The Company also has an interest in the Canasta Dorada property in Sonora, Mexico, through its 26.8% equity interest in Highvista Gold Inc. There has been insufficient exploration to define a property-wide mineral resource at Gold Springs and it is uncertain if further exploration will result in the targets at Gold Springs being delineated as a mineral resource.

Forward-looking Statements

Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "continue", "grow", "demonstrate", "expand", "appears", "believed", "will", "target", "expected", "potential" and similar expressions. Information concerning mineral resource estimates and the interpretation of drill results may also be considered forward-looking statements as such information constitutes a prediction of what mineralization might be found to be present if and when a mining project is actually developed. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, possible variations in mineral resources, grade, metal prices; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; regulatory, environmental and other risks of the mining industry more fully described in the Company's Management Discussion & Analysis of Financial Position and Results of Operations, which is available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the availability of equipment and qualified personnel to advance the Gold Springs project; execution of the Company's existing plans and further exploration and development programs for Gold Springs, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs.

Readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release. Except as required by law, HDG assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this news release describe the Company's expectations as of July 10, 2013.

Inferred Resources

This news release uses the term 'inferred resources' which is recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), however, such term is not a defined term under SEC Industry Guide 7 and is not normally permitted to be used in reports and registration statements filed with the United States Securities and Exchange Commission. Investors are cautioned not to assume that any part or all of the 'inferred resources' will be upgraded or converted into 'indicated resources' or 'reserves' as defined under NI 43-101. In addition, 'inferred resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. Under Canadian rules, estimates of inferred resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for a preliminary economic assessment as defined under NI 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.

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.



High Desert Gold Corporation
Richard Doran
Executive Vice President
(303) 584-0608
(303) 758-2063 (FAX)
www.hdggold.com
Data and Statistics for these countries : Mexico | All
Gold and Silver Prices for these countries : Mexico | All

High Desert Gold Corp.

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High Desert Gold is a gold exploration company based in Canada.

High Desert Gold holds various exploration projects in Mexico.

Its main exploration properties are ARTILLERY PEAK GOLD and GOLD LAKE PROPERTY in USA and GOLD SPRINGS, CANASTA DORADA, SAN ANTONIO PROPERTY and BATAMOTE in Mexico.

High Desert Gold is listed in Canada. Its market capitalisation is CA$ 6.3 millions as of today (US$ 5.9 millions, € 4.3 millions).

Its stock quote reached its highest recent level on March 11, 2011 at CA$ 0.73, and its lowest recent point on October 18, 2013 at CA$ 0.04.

High Desert Gold has 78 285 000 shares outstanding.

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2010 Annual Report MD&A
2010 Annual report
2009 Annual Report
2008 Annual Report
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3/30/2012Renews agreement with IR Consultants and grants new incentiv...
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2/21/2013Announces Appointment of New Director
Financials of High Desert Gold Corp.
4/26/2013Files Fiscal 2012 Annual Financial Statements
8/31/2012Q2 2012 MD&A
8/31/2012Q2 2012 Financial Statement
8/31/2012Second Quarter 2012 Financial Statements
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6/28/2011Files First Quarter 2011 Financial Statements
4/28/2011Files Fiscal 2010 Annual Financial Statements
3/31/2011Q1 2011 Financial Report
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8/20/2013(Gold Springs)Reports Continued Drilling Success from the 100% Owned Gold ...
4/16/2013(Gold Springs)Announces: Drilling to Start at Gold Springs and 2013 Explor...
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1/28/2013(Gold Springs)Reports Bottle Roll, Metallurgical Tests on Drill Cuttings f...
10/24/2012(Gold Springs)Reports Results from the Grey Eagle Target at Gold Springs, ...
10/4/2012(Gold Springs)Initiates Second Phase of Drilling at the Gold Springs Proje...
10/4/2012(Gold Springs)Initiates Second Phase of Drilling at the Gold Springs Proje...
8/31/2012(Gold Springs)Intersects 21.4 Metres Grading 5.6 g/t Gold and 32.4 g/t Sil...
5/2/2012(Gold Springs)Drilling in progress at Gold Spings
4/5/2012(Gold Springs)Drilling to start mid-april at Gold Springs
3/19/2012(Gold Springs)Announces the approval from the Nevada BLM for drill plans a...
2/7/2012(Gold Springs)Technical Report confirming Resource Estimate for the Jumbo ...
1/18/2012(Gold Springs)Doscovery of a second major gold target at Gold Springs
12/22/2011(Gold Springs)Resource estimate for the Jumbo Zone at Gold Springs
11/25/2011(Gold Springs)Update on activities at the Gold Spring Project
8/4/2011(San Antonio Property)Discovers new areas of gold/silver on its San Antonio Projec...
7/12/2011(Gold Springs)Pilot Gold announces completion of Gold Springs earn-in opti...
7/12/2011(Gold Springs)Completes Earn-In for 60%-Interest in the Gold Springs Proje...
5/15/2011(San Antonio Property)Reports Drilling Results at San Antonio Gold Project, Sonora...
4/26/2011(Artillery Peak Gold)Announces Positive Gold Results from Trenching Program at Ar...
4/26/2011(Gold Springs)Announces Positive Gold Results from Trenching Program at Ar...
4/13/2011(Gold Springs)Announces 2011 Exploration Program, Including Plans for the ...
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Corporate news of High Desert Gold Corp.
12/10/2013SOUTH AMERICAN SILVER CORP. SHAREHOLDERS APPROVE PLAN OF ARR...
10/22/2013South American Silver Corp. Enters into an Agreement to Acqu...
10/21/2013Enters into Agreement to be Acquired by Well-Financed South ...
9/10/2013(Gold Springs)Drills Its Best Hole in 2013 on the 100% Owned Gold Springs ...
8/2/2013(Gold Springs)Enters Into Agreement to Buy Pilot Gold's Interest in Gold S...
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6/6/2013(Gold Springs)Reports First 2013 Drilling Results from the Gold Springs Pr...
4/8/2013Adopts Advance Notice By-Law
11/7/2012(Gold Springs)Reports Final Results from Trenching at the Grey Eagle Targe...
10/15/2012(Gold Springs)Reports Drilling and Trenching Progress at the Grey Eagle Ta...
8/31/2012(Gold Springs)Discovery of New Gold Zones and Increased Ownership on the G...
4/30/2012Files fiscal 2011 Annual Financial Statements
3/30/2012Renews agreement with IR Consultants and grants new incentiv...
2/22/2012Closes previously announced $4,7 million financing
2/15/2012Increases the size of its current financing to $4,7 millions
10/6/2011Closing of Qualifying Transaction by Highvista
2/24/2011Joins the OTCQX in the U.S.
4/21/2010Management’s Discussion and Analysis of Financial Position a...
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