Global Hunter drills 168.7 m of 0.059% Mo, 0.116 g/t Re
2009-02-02 11:30 ET - News Release
Mr. Rod Husband reports
GLOBAL HUNTER HITS 169 METERS OF 0.059% MOLYBDENUM; NEAR SURFACE MO INTERSECTIONS SUPPORT GEO-MODEL IN WIDTH AND GRADE
Global Hunter Corp. is releasing the results from the first four diamond holes drilled on its Rabbit South project, located in the Quesnel trough in British Columbia.
Highlights include:
14 diamond drill holes completed;
Assay results from two holes include hole RS-D-08-123, 168.70 metres of 0.059 per cent molybdenum (Mo) and 0.116 gram per tonne (g/t) rhenium (Re), and hole RS-D-08-127, 105.0 metres of 0.042 per cent Mo and 0.092 g/t Re;
Assay results are pending for the remaining 10 holes.
Drill hole From (m) To (m) Length (m) Mo (%) Re (g/t)
RS-D-08-123 11.30 180.00 168.70 0.059 0.116
including 11.30 104.00 92.70 0.069 0.131
RS-D-08-124 results still pending
RS-D-08-125 22.00 240.00 218.00 0.023 0.036
including 128.00 198.00 70.00 0.032 0.049
RL-D-08-126 13.00 61.00 48.00 0.039 0.077
RL-D-08-127 13.00 118.00 105.00 0.042 0.078
including 13.00 77.00 64.00 0.050 0.092
and 95.70 118.00 22.30 0.054 0.100
"We are very excited to be moving the Rabbit South molybdenum project along with our drill program; we continue to verify historical drilling and are looking forward to explore the higher-grade section of the deposit with our next drill program. Our belief remains that Rabbit South has the potential to become a strategic asset, considering it is located in a prolific mining area with substantial history," said Rod Husband, president of Global Hunter.
All assays were done by EcoTech Laboratory Ltd. in Kamloops, B.C. The laboratory is ISO 9001-2000 certified and is a division of the Alex Stewart Group. For complete details on the assay procedures, please refer to the company's news release in Stockwatch dated Sept. 17, 2008. The remaining results are currently being reviewed and undergoing quality assurance/quality control (QA/QC) analysis, and will be released once this process is complete.
About Rabbit South
The property consists of 1,900 hectares near Kamloops, B.C., a town with a deep history of mining. Rabbit South is strategically located in the southern end of the Quesnel trough, a rich geological belt that stretches throughout the centre of British Columbia, from Elk Valley to Kemess mine. The Quesnel trough hosts several major ore deposits, including the Highland Valley copper mine (B.C.'s largest porphyry copper mine), 25 kilometres southwest of Rabbit South, and Afton mine (B.C.'s richest porphyry copper mine), 12 kilometres northeast of the property. Access to the property is available year-round by highways and logging roads.
The molybdenum mineralization at Roper Lake was discovered in 1959, by Kennco Exploration (Western) Ltd. and was first drilled by Dominic Lake Mining Co. Ltd. in 1967, before being explored further between 1979 and 1981, by Cominco Ltd. Global Hunter optioned the property in January, 2004, and has since completed three drill programs in 2005, 2007 and 2008.
Previous operators drilled a portion of the Rabbit South property extensively and established the existence of a large body of molybdenum mineralization. Historical work included 104 holes, of which 79 were percussion holes (6,009 metres) and 25 were diamond drill holes (2,968 metres). Near-surface mineralization was intersected in 44 of these drill holes, but mineralization at depth was not fully explored.
The mineralized zone is horseshoe shaped, and hosted by a molybdenite-bearing quartz vein stockwork in quartz monzonite porphyry intrusion from surface to the low-angle thrust fault that defines the contact with the underlying Nicola Group andesite and andesite tuffs.
Global Hunter is systematically confirming the historical results, as well as defining the low-angle, northerly dipping thrust fault that is the lower limit of mineralization. The fault extends from approximately 100 metres deep in the south to over 400 metres deep in the northern end of the mineralized zone.
The contents of this news release, including the technical information contained herein, was reviewed by Mr. Husband, PGeo, a qualified person as defined by National Instrument 43-101.
We seek Safe Harbor.
