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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Hidefield Gld | LSE:HIF | London | Ordinary Share | GB0003644506 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.475 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
Don Nicolas Update HIDEFIELD GOLD PLC DON NICOLAS GOLD PROJECT PHASE III DRILLING COMPLETED SIGNIFICANT GOLD MINERALIZATION REPORTED IN ADDITIONAL PHASE III DRILLING RESULTS Hidefield Gold Plc (AIM: HIF) ("Hidefield" or the "Company"), the gold company with advanced projects in Argentina, Brazil and Alaska, is pleased to provide the following update on progress and the latest drilling results from the recently completed Phase III drilling programme at the Don Nicolas gold project in Santa Cruz Province, Argentina. Recent received assay results include eight holes on the Sulfuro and Reyna veins in the LaPaloma sector of the Don Nicolas project, nine holes on the Coyote vein systems in the Martinetas sector and an initial seven holes on the Trofeo vein in the Microondas sector. Gold mineralization was intercepted in all project areas with highlights including an 11.60 metre interval (7.5 metre true thickness) averaging 5.51 grammes per tonne ("gpt") gold (3.38 gpt with high values cut to 34.30 gpt) and 43.10 gpt silver from S-D08-53 on the Sulfuro vein and an average of 11.57 gpt gold (5.07 gpt cut) across 27.00 metres (20 metres true thickness) in CYS-D08-11, over a wide interval of multiple veining in the footwall of the Coyote Sur vein. On the Sulfuro vein at La Paloma, five drill holes, totaling 1,129 metres, tested the open south plunge of the South ore-shoot. Four of the holes, S-D08-51, 52 and 54, 55, encountered 1-2 metre vein intervals with low grade gold-silver mineralization and appear to delimit the ore-shoot down its south plunge. The wide vein interval in S-D08-53 represents one of the deepest penetrations on the Sulfuro vein, at about 200 metres vertical depth, and suggests possible steepening of the ore-shoot to a near vertical plunge. The Reyna vein, located approximately 1km west of the Sulfuro vein at LaPaloma, is interpreted as its offset extension across the Molino fault. Three initial holes were drilled at Reyna with R-D08-03 intercepting 5.85 metres (4.8 metres true thickness) averaging 2.05 gpt gold including 9.25 gpt gold along 0.80 metres. Nine additional drill holes have been completed on the Coyote Sur and Coyote Norte vein systems in the Martinetas sector of the project area. Drill holes CYS-D08-11 to 13 intercepted multiple gold-bearing veins at shallow depths in the hangwall of the Coyote Sur vein including 27 metres (20 metres true thickness) averaging 11.57 gpt gold (5.07 gpt cut) but only low grade mineralization in the main vein down its west plunge. CYS-D08-14 and 15 contain shallow vein intercepts, including 1.92 metres (1.50 metres true thickness) grading 7.39 gpt gold in CYS-D08-15, which extend the vein and oreshoot 40 metres east of earlier drill holes. Four holes were also completed at Coyote Norte with the most significant mineralization occurring within multiple hangwall veins in CYN-D08-21 across 23.21 metres (approximately 12 metres true thickness) averaging 8.70 gpt gold (4.64 gpt cut) and 30.55 gpt silver. Except for CYN-D08-20, which contains 1.15 metres grading 28.77 gpt gold (20.51 gpt cut) and 98.17 gpt silver, intercepts on the main Coyote Norte vein contain low grade mineralization. The Microondas vein field is located approximately 8km southwest of Martinetas. Previous work at Microondas, carried out by Yamana in the 1990's, outlined a number of gold-bearing veins including the Trofeo zone, an anastomosing zone of veining and silicified breccia traceable along a northeasterly strike for 500 metres. Past drill holes intercepted up to 10.0 metres averaging 5.56 gpt gold at Trofeo. Seven drill holes, MIC-D08-1 to 7 totaling 891 metres, were drilled at Trofeo in the current campaign. All contain significant gold mineralization with intercepts up to 5.19 gpt gold along 2.27 metres on the Trofeo vein in MIC-D08-05 and 6.33 gpt gold along 1.58 metres in a hangwall vein in MIC-D08-04. The Phase III drill campaign consisting of 60 holes totaling 7,367 metres, was completed in April. All cores have been logged, sampled and sent for analysis and we expect to have full results including eight additional holes on the Sulfuro and Rocio veins at LaPaloma, and five holes on the Cerro Oro and Calafate vein systems at Martinetas during July. Current project activities include prospecting, geologic mapping, sampling and general evaluation of partially explored vein systems outside the main resource areas at LaPaloma and Martinetas where past drilling has been concentrated. Assay results for the holes in the Phase III drilling programme reported in this release are appended to this announcement and can also be viewed on the Company's website. John Prochnau BSc (Mining Engineering), MSc (Geology), Hidefield's Chief Executive Officer, has reviewed and approved the content of this announcement. Commenting Kenneth Judge, Chairman said "We have now concluded our Phase III programme and look forward to the receipt of the balance of our assay results and thereafter being able to confirm that our drilling programme has added important additional resources at the Don Nicolas project." 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. In South America and Alaska the projects are directly held by Hidefield, while those projects 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 Don Nicolas gold project in Santa Cruz Province with a mineral resource estimate, prepared in compliance with JORC reporting standards, of 1,214,000 tonnes at 7.7 gpt gold containing 301,600 ounces of gold using a high grade cut of 90 gpt gold (383,400 ounces of gold at 9.8 gpt without high grade cut off). The Company is exploring an extensive portfolio of gold exploration licences in the Patagonian provinces of Santa Cruz and Chubut, Argentina while in Brazil the Company's activities are 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 per cent. interest in the Golden Zone and South Estelle mineral projects and an option to earn up to 100 per cent. interest, subject to a 2.5 per cent. 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, now in a joint venture with International Tower Hill Mines Ltd, 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, Chairman + 44 773 300 1002 Investor Relations Paul Ensor + 44 20 7976 2889 Jon Bey + 1 866 689 2599 Hanson Westhouse Limited (Nomad) + 44 113 246 2610 Tim Feather / Matthew Johnson Landsbanki Securities (UK) Ltd (Broker) + 44 20 7426 9000 Tom Hulme APPENDIX DON NICOLÁS PHASE III MARTINETAS - COYOTE SUR DRILL HOLES Drill Hole From (m) To (m) Interval (m) gpt Au gpt Ag Vein CYS-D08-11 11.00 38.00 27.00 11.57 5.96 HW Vein Zone (5.07) incl. 11.00 16.00 5.00 13.45 4.24 incl. 11.00 12.00 1.00 31.95 8.00 and 28.25 38.00 9.75 23.70 10.42 (5.68) incl. 35.00 36.00 1.00 210.00 64.40 (34.30) 92.15 93.00 0.85 1.18 7.40 Coyote Sur CYS-D08-12 23.95 25.90 1.95 7.56 4.94 HW Vein incl. 23.95 24.35 0.40 22.10 20.80 33.17 36.08 2.91 6.89 18.18 HW Vein incl. 33.17 34.00 0.83 20.23 59.60 39.86 40.72 0.86 15.18 8.49 HW Vein 47.50 48.00 0.50 21.80 21.30 HW Vein 80.40 84.00 3.60 0.30 3.93 Coyote Sur CYS-D08-13 27.35 28.35 1.00 5.86 5.20 HW Vein 36.77 39.50 2.73 4.13 7.52 HW Vein incl. 38.04 38.80 0.76 11.75 11.70 43.54 48.20 4.66 2.96 47.91 HW Vein incl. 45.25 46.30 1.05 7.14 100.66 118.88 119.38 0.50 0.91 7.30 Coyote Sur 139.42 140.60 1.18 3.49 17.63 FW Vein CYS-D08-14 41.29 44.00 2.71 3.50 3.73 Coyote Sur 48.17 48.70 0.53 4.70 1.85 FW Vein CYS-D08-15 11.40 12.40 1.00 7.80 1.44 HW Vein 20.88 22.80 1.92 7.39 0.68 Coyote Sur incl. 22.40 22.80 0.40 32.10 0.80 Note: True thicknesses ±75% of core lengths. MARTINETAS-COYOTE NORTE DRILL HOLES Drill Hole From (m) To (m) Internal (m) gpt Au gpt Ag Vein CYN-D08-19 103.45 104.80 1.35 0.64 5.24 Coyote Norte CYN-D08-20 92.10 93.25 1.15 28.77 98.17 Coyote Norte (20.51) 112.00 113.00 1.00 5.48 3.30 FW Vein CYN-D08-21 13.79 37.00 23.21 8.70 30.55 HW Vein Zone (4.64) incl. 23.61 25.70 2.09 71.05 212.77 (13.56) incl. 24.45 25.08 0.63 225.00 474.00 (34.30) 62.14 65.00 2.86 16.92 16.59 HW Vein (14.98) 69.00 70.00 1.00 3.62 2.00 HW Vein 79.00 80.00 1.00 2.50 3.10 HW Vein 83.94 84.50 0.56 16.65 31.20 HW Vein 130.00 132.25 2.25 -0.10 2.28 Coyote Norte CYN-D08-22 38.10 45.35 7.25 3.81 13.74 HW Vein Zone incl. 44.60 45.35 0.75 13.80 16.10 117.00 118.45 1.45 0.35 6.85 Coyote Norte Note: True thicknesses 50-75% of core lengths. Values in brackets cut to 34.30 gpt gold. MICROONDAS DRILL HOLES (TROFEO VEIN) Drill Hole From (m) To (m) Interval (m) gpt Au gpt Ag Vein MIC-08-01 40.35 41.30 0.95 2.62 1.13 HW Vein 95.10 96.80 1.70 2.18 7.18 Trofeo MIC-08-02 81.83 83.14 1.31 4.13 11.26 Trofeo MIC-08-03 40.85 41.85 1.00 0.98 1.50 Trofeo MIC-08-04 58.22 62.60 4.38 2.28 2.85 Trofeo incl. 58.89 60.11 1.22 5.54 4.46 113.30 114.88 1.58 6.33 6.19 FW Vein incl. 114.06 114.46 0.40 21.45 19.50 MIC-08-05 45.10 45.50 0.40 4.45 3.80 HW Vein 60.35 62.62 2.27 5.19 4.27 Trofeo MIC-08-06 60.00 61.00 1.00 0.91 1.30 Trofeo MIC-08-07 107.85 120.50 12.65 1.02 1.26 Trofeo Note: True thicknesses 50-75% of core lengths. SULFURO VEIN - SOUTH ORE SHOOT +-------------------------------------------------------------------+ | Drill Hole | From (m) | To (m) | Thickness (m) | gpt Au | gpt Ag | |------------+----------+--------+---------------+---------+--------| | | | | | | | |------------+----------+--------+---------------+---------+--------| | S-D08-51 | 197.15 | 199.57 | 2.42 | 2.03 | - | |------------+----------+--------+---------------+---------+--------| | | | | | | | |------------+----------+--------+---------------+---------+--------| | S-D08-52 | 112.90 | 115.30 | 2.40 | 1.67 | 5.16 | |------------+----------+--------+---------------+---------+--------| | | | | | | | |------------+----------+--------+---------------+---------+--------| | S-D08-53 | 203.95 | 215.55 | 11.60 | 5.51 | 43.10 | |------------+----------+--------+---------------+---------+--------| | | | | | | | |------------+----------+------------------------+---------+--------| | | | including | | | |------------+----------+------------------------+---------+--------| | | 215.00 | 215.55 | 0.55 | 79.20 | 46.20 | |------------+----------+--------+---------------+---------+--------| | | | | | | | |------------+----------+--------+---------------+---------+--------| | | | | | | | |------------+----------+----------------------------------+--------| | S-D08-54 | | No Significant Values | | |------------+----------+----------------------------------+--------| | | | | | | | |------------+----------+----------------------------------+--------| | S-D08-55 | | No Significant Values | | | | | | | +-------------------------------------------------------------------+ Notes: Values in brackets cut to 34.30 gpt Au True thickness of S-D08-53 approximately 7.5 metres REYNA VEIN Drill Hole From (m) To (m) Thickness (m) gpt Au gpt Ag R-D08-01 23.42 24.00 0.58 0.09 1505.00 R-D08-02 No Significant Values R-D08-03 50.95 56.80 5.85 2.05 4.56 including 56.00 56.80 0.80 9.25 11.70 Notes: True thickness of R-D08-03 approximately 4.8 metres - ---END OF MESSAGE---
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