ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

HBY

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:HBY TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Hunter Bay Minerals Completes Infill Soil Sampling at Puma Prospect, Sela Creek

13/11/2013 12:30pm

Marketwired Canada


Hunter Bay Minerals plc ("Hunter Bay") (TSX VENTURE:HBY) is pleased to announce
the results of the 2013 soil sampling program at Puma Prospect, Sela Creek
(Figure 1). The results display significant gold exploration potential over a
strike length of greater than 3 kilometers (Figures 2 and 3).


The 2013 soil sampling program at Puma was designed to follow-up and infill a
gold in soil anomaly identified from the 2011 soil sampling program. The 2011
soil sampling program identified a 2.3 km long northwest-southeast trending
anomaly located on a series of low ridges at the center of artisanal alluvial
workings. Follow up work in 2013 has defined gold in soil anomaly over 3 km long
and open along strike, between 200 and 400 meters wide. The infill program shows
the gold in soil anomaly to be consistently strong, assaying greater than 100
ppb gold over a strike length of 2 kilometers at the center of the anomaly
(Figure 2).


The Puma gold in soil anomaly is located on a series of northwest-southeast
trending low ridges, which lie at the inferred contact between a metavolcanic
unit and schist (Figure 3). Hunter Bay considers this to be significant as the
prospect has a similar magnetic signature, inferred geology and size potential
to the Jons Pit prospect. 


Artisanal miners have opened a number of shallow open pits on the sides and tops
of the low ridges at the center of the gold in soil anomaly at Puma, targeting
saprolite. These workings have exposed saprolite in some areas however Hunter
Bay has only been able to take three channel samples in one abandoned pit.
Significant intercepts were previously reported as 9.0 m @ 2.66 g/t gold
including 2.0 m @ 7.19 g/t gold (CH027) and 6.0 m @ 3.93 g/t gold (CH036).


The 2011 soil sampling comprised samples collected from lines spaced 200 meters
apart, with 100 meters between samples. The 2013 follow-up program comprised a
total of 389 samples collected over an area of 3 by 1.3 km. Lines were spaced
100 m apart, with 25 m between samples. No samples were collected in areas of
alluvial cover or in areas of artisanal workings. 


Samples were collected from the lower 50 centimeters of 2 meter deep hand auger
holes. This allowed samples to be collected from the upper part of the C-horizon
in saprolitic host rock.


The gold anomaly at the Puma Prospect is considered highly significant in that
it occurs within an area of extensive alluvial workings and represents a
potential hard-rock source area of alluvial gold. Moreover, the
northwest-southeast trend of the anomaly is consistent with other known
mineralized zones within the Jons Pit-Stranger-Cambior trend, a structural
orientation that appears to exert a fundamental control on mineralization at
Sela Creek.


Follow up work is planned to better test the size potential at Puma Prospect
through a ground magnetic survey over the gold in soil anomaly to define targets
for mechanical trenching. Channel sampling of artisanal pits is also planned.


Assay Procedure

Sample preparation and gold fire assay was carried out by The Assay Office
(Suriname), Paramaribo, Suriname. The laboratory is not certified. The Assay
Office includes routine Canadian Certified Reference Materials (CCRM), in-house
standards and blank samples with each sample submission. Hunter Bay inserts its
own routine QAQC samples, including gold certified reference material and blank
material which are routinely checked. Hunter Bay ensures that chain-of-custody
is maintained at all times from point of collection to delivery to the assay
laboratory.


Andrew Tunningley, MAusIMM (CP), a director of Hunter Bay, is a Qualified Person
as defined in National instrument 43-101 - Standards of Disclosure for Mineral
Projects is responsible for the work program on the Sela Creek Project. Mr.
Tunningley has supervised and approved all technical information contained in
this news release.


About Hunter Bay

Hunter Bay is engaged in the acquisition, exploration and development of mineral
resource properties located in South America and Canada. Hunter Bay's lead
project is the Sela Creek Project, located in Suriname, in which Hunter Bay has
an option to acquire up to an eighty percent (80%) interest. Hunter Bay also
owns a one-hundred percent (100%) interest in the Great Bear Lake Properties
located in the eastern side of Great Bear Lake, NWT, Canada.


Forward-Looking Statements

Information set forth in this news release contains forward-looking statements
that are based on assumptions as of the date of this news release. These
statements reflect management's current estimates, beliefs, intentions and
expectations. They are not guarantees of future performance. Hunter Bay cautions
that all forward looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many of which are
beyond Hunter Bay's control. Such factors include, among other things: risks and
uncertainties relating to Hunter Bay's ability to implement the follow up
exploration program on the Puma prospect, Hunter Bay's limited operating
history; the need to comply with environmental and governmental regulations; and
potential defects in title to Hunter Bay's properties. Accordingly, actual and
future events, conditions and results may differ materially form the estimates,
beliefs, intentions and expectations expressed or implied in the forward looking
information. Except as required under applicable securities legislation, Hunter
Bay undertakes no obligation to publicly update or revise forward-looking
information.


NEITHER 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.


To see Figures 1-3, please visit the following link:
http://media3.marketwire.com/docs/910979i.pdf. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Hunter Bay Minerals plc.
Nico Civelli
CEO and Director
(+44) 207-127-9125
invest@niconsult.ch

1 Year Chart

1 Year  Chart

1 Month Chart

1 Month  Chart