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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 |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
HIDEFIELD GOLD PLC PHASE III DRILLING PROGRAMME UPDATE ON ECONOMIC SCOPING STUDY Hidefield Gold Plc (AIM:HIF) ("Hidefield" or the "Company"), the gold company with advanced projects in Argentina, Brazil and Alaska, is pleased to announce that it has contracted Major Drilling Group International Inc. to carry out an 8,000 metre Phase III drilling programme at its Don Nicolás gold project in Santa Cruz Province, Argentina. The programme will commence shortly with the mobilisation of the drill rig to the site and is expected to continue until the end of the year. The principal objective of the Phase III programme is continued resource definition and expansion drilling. It will also include limited infill drilling within the Sulfuro vein in the La Paloma sector of the project area and within the high grade Coyote Norte and Coyote Sur veins and the Cerro Oro multiple vein system, in the Martinetas area (see announcement of 29 August 2007). The Sulfuro vein contains approximately 65 per cent. of the current Don Nicolás gold resource and remains open along strike and at depth. The outlined Coyote ore shoots are delimited along strike but remain open at depth. The mineralization in the Cerro Oro ore-shoots is less well defined but remains open in all directions. The Phase III drilling programme will also include initial drill holes testing the Trofeo and Goleta prospects, respectively located 10 kilometres southwest and 5 kilometres north of Martinetas. Limited drilling by earlier operators at Trofeo has outlined gold mineralization in a wide vein zone traceable for 250 metres along strike and to a depth of 125 metres. Past holes include vein intercepts up to 6.56 grammes per tonne ("gpt") gold along 10 metres. The zone is open in both strike directions and at depth. Goleta is interpreted as a flat lying tabular body in which past drill holes intercepted mineralization grading up to 21 gpt gold across 8 metres and 1.6 gpt gold across 14 metres. The Economic Scoping Study, being carried out by Independent Engineers Australia Pty Ltd, is scheduled for completion in late October or early November 2007 and the Company has also engaged local consulting groups to commence baseline environmental studies, required in connection with eventual mine permitting, and hydrogeologic investigations for the sighting of process and domestic water sources. John Prochnau BSc (Mining Engineering), MSc (Geology), Hidefield's Chief Executive Officer, has reviewed and approved the content of this announcement. 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 Nicolás 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 + 44 773 300 1002 Ken Judge, Chairman + 44 20 7590 5503 Investor Relations Paul Ensor Hanson Westhouse Limited (Nomad) + 44 113 246 2610 Tim Feather / Matthew Johnson Landsbanki Securities (UK) Ltd (Broker) + 44 20 7426 9000 Tom Hulme END
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