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Golden Hope Mines Resumes its 2010 Drilling
Campaign
GNH: TSX/V
GOLHF: PINK SHEETS
July 12, 2010
Toronto,
Ontario-Marketwire, July 12, 2010--Golden Hope Mines Limited is pleased to
announce that diamond drilling on its properties in the Bellechasse Belt of
Southeastern Quebec has resumed following a short summer break for the Forage
Mercier Inc. crews.
The 2010 diamond
drilling campaign began on April 13. On June 30, 5232.5 metres were completed
on the Bellechasse-Timmins deposit. An additional 633 metres was drilled on
the Beland 2009 Anomaly which lies 6.2km southwest of the Bellechasse-Timmins
deposit. A total of 5865.5 metres in 27 holes were drilled prior to the
summer break. Core logging, sawing, and sampling are in progress, with assay
results expected shortly.
Based on information
from the work completed to date, 3285 metres of additional drilling in 15
holes is planned for the next four to five weeks. Nine of these holes are
spotted to test extensions of recently discovered zones on the
Bellechasse-Timmins deposit. The map showing the location of these holes can
be examined on the company�s web site at www.goldenhopemines.com/userfiles/file/Presentation2010.pdf.
In addition, three holes are planned on each of the Sugar Bush and Laval's
Mountain gold indicator soil gas hydrocarbon anomalies.
Drilling requirements
are reviewed on an on-going basis. Additions to the currently scheduled
drilling can be expected as the program progresses.
The
Bellechasse-Timmins deposit includes the previously known Ascot, T1 and T2A
and T2B zones with at least eight more parallel quartz-filled gold-bearing
brecciated zones in diorite either intersected in drill holes, exposed at
surface, or both. The area explored to date is slightly more than 600m wide.
Mineralization has been traced by diamond drilling from the southwestern
outcrop of the T1 Zone approximately 900m to the northeast on the extension
of the Ascot/Road Zone and remains open both to the northeast and to the
southwest.
The T1 zone is exposed
on surface for about 110m and measures up to 50m across strike. The deepest
diamond drill intersection is 300m below surface and shows mineralization
visually identical to that bulk sampled at surface.
The T2A and T2b zones
are up to 30m wide, have been followed for over 300m along strike and
intersected by diamond drilling as much as 250m below surface.
The T1 zone is estimated
to give at least 11,000 tonnes per vertical metre and the T2A and T2B zones
together account for approximately 8,000 tonnes per vertical metre.
Data on the Ascot/Road
Zone structure suggests 5600 tonnes per vertical metre for the 400 metre
portion drilled. The zone remains open to the northeast.
Diamond drilling is
adding to the number of new zones. T1-type, T2-type, and Ascot-type bodies
are indicated, and will be defined as the drilling program progresses.
This drilling has
indicated extensions to the known mineralization and located new zones in
previously unexplored ground. Data have accumulated rapidly, greatly
assisting understanding of the deposit.
The mineralization
currently being investigated is classified as as:
T1-type: Auriferous quartz filling
brecciated diorite in plug-like protrusions from the intrusive.
T2-type: Auriferous quartz filling
elongated breccia zones in the body of the intrusive, or in ridge-like
apotheosis on the back of the diorites.
Ascot-type: Auriferous quartz in
disorganized to massive quartz veins in the volcanic rocks that were intruded
by the diorites, probably located above T2-type zones in the intrusive.
The
Bellechasse Belt continues to give great encouragement.
The Beland 2009
Anomaly,
6,200 metres southwest of the Bellechasse-Timmins deposit, was tested by
three diamond drill holes to investigate the cause of a strong soil gas
hydrocarbon response for gold.
The apparent cause of
the SGH anomaly is a 9m thick zone of quartz veining which shows traces of
galena and sphalerite throughout, with fine visible gold at 193.7m in DDH
BB-02. This and two other intersections are being processed. The structures
tested are tentatively classed as Ascot-type.
Further drilling at
Beland will be considered when sampling results are available.
Laval's Mountain SGH gold indicator anomaly lies
9.25km northeast of the Bellechasse-Timmins deposit. The Sugar Bush SGH gold indicator
anomaly is located 5.3km northeast of the Bellechasse-Timmins deposit. The
original Beland prospect lies within the company's Bellechasse Belt claim
group a little more than 1km southwest of the Beland 2009 Anomaly.
Prospecting has shown indication of auriferous mineralization occurring along
a strike distance of about 17 kilometres within this part of the company's
claims in the Beauce-Bellchasse region.
Other
Environments Encountered within Our Claim Group
Ultrabasic
Environment
Geological mapping,
prospecting, geochemical surveying, and geophysical studies continue on
company mineral claims located within approximately 110km of the belt of
serpentinites and ultrabasic intrusives from north of St-Fabien to Riviere
Cinq near Chute du Bras west of the Chaudi�re River.
Geophysical surveying of
the copper-nickel prospect at Talon is completed. Geochemical surveying and
geological mapping will be completed shortly.
Diamond drilling of a
SHG response on Crown Land near St-Luc for both base metals and gold is
scheduled as soon as necessary permits are obtained.
Prospecting and
geological mapping in the Chute du Bras ultrabasic intrusive continues to
follow up auriferous mineralization discovered in the fall of 2009.
Volcanic
Environments
Field work continues to
confirm the widespread occurrence of predominantly volcanic and
volcanoclastic rocks in the Bellechasse area. Geological mapping of the FSG
area is almost completed. Geological mapping and prospecting of the large
base metal and gold SGH anomaly suggests diamond drilling is required to
determine the source of both the gold and base metal responses.
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 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 Quebec, Canada. The Bellechasse
gold project in Southeastern Quebec includes the Timmins 1, Timmins 2 and
Ascot gold zones, the new FSG volcanic environment targets and a number of
recently claimed ultra basic/serpentine bodies. For further information on
Golden Hope Mines Limited please visit www.goldenhopemines.com.
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.
For more
information, please contact:
Golden Hope Mines Limited
Frank Candido
President, Director
514-750-8218
416-864-0175 (FAX)
fcandido@goldenhopemines.com
or info@goldenhopemines.com
www.goldenhopemines.com
or
Paradox Public Relations
Corporate Communications
1-866-460-0408
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