High Desert Gold Corporation Continues to Generate Promising Gold Results at the Gold Springs Project on the Nevada-Utah Border
Date : 01/10/2011 @ 8:30AM
Source : MarketWire
High Desert Gold Corporation Continues to Generate Promising Gold Results at the Gold Springs Project on the Nevada-Utah Border
High Desert Gold Corporation ("HDG" or the "Company") (TSX VENTURE: HDG)(PINK SHEETS: HDGCF) announces results from rock chip and soil sampling programs from several of the developing gold targets at the Gold Springs Project in Nevada and Utah. The Company has now delineated 16 gold targets that warrant drilling, and the Phase 2 drill program will be initiated in the spring of this year.
Exploration continues to discover high-grade gold targets at the Gold Springs project. Two new target areas have been defined, the Camp Bell and Homestead areas. At Camp Bell, a float sample in a mostly covered area assayed 145 gpt gold and 148 gpt silver. At Homestead, anomalous rock samples have been collected over widths of up to 10 metres with the highest assay of 8 gpt gold coming from a grab sample.
Further sampling within previously identified target areas continues to generate very encouraging results. The latest rock chip sampling returned numerous assays greater than 5 gpt gold. Selected results from Camp Bell, Homestead and additional target areas are listed below:
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Gold Silver
Target Area Sample # Sample Type Sample Description gpt gpt
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Banded quartz-
Gray Eagle 8089 Grab adularia vein 13.852 27.8
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Banded quartz-
Gray Eagle 8084 1 metre chip calcite vein 7.783 18.1
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Banded quartz-
Gray Eagle 8090 1 metre chip calcite vein 1.406 11.9
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Stockwork veined
Gray Eagle 8095 1 metre chip Andesite 1.297 35.3
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1.2 Banded quartz-
Gray Eagle 8098 metre chip adularia vein 2.366 15.3
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Quartz-
Gray Eagle 8097 1 metre chip adularia vein 0.929 11.2
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Stockwork veined
Gray Eagle 8086 3 metre chip Andesite 0.717 5.8
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Banded quartz-
Gray Eagle 8094 4 metre chip adularia vein 0.834 6.9
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Banded quartz-
Keno 8073 Grab calcite 3.772 27.65
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Banded quartz-
Keno 52962 Grab calcite 1.144 1.5
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Iris 53003 2 metre chip Massive quartz vein 1.003 6.4
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Banded quartz-
Iris 8075 Grab adularia vein 5.383 40.14
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Horseshoe Mix quartz vein and
Extension 52951 3 metre chip silicified latite 1.398 2.3
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Horseshoe Stockwork veined and
Extension 8049 1 metre chip brecciated Andesite 4.046 3.31
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Horseshoe Banded quartz-
Extension 8070 Grab calcite vein 7.954 13.37
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Silica Hill
Extension 53699 Grab Silicified Breccia 4.32 32.2
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Silica Hill 0.8
Extension 33058 metre chip Quartz Adularia Vein 1.934 41.8
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Silica Hill
Extension 53698 Grab Silicified Breccia 6.206 38.7
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Silica Hill 0.5
Extension 33008 metre chip Sheeted Vein 1.851 25.1
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Banded quartz-
adularia vein and
Silica Hill 1.2 brecciated Andesite
Extension 33066 metre chip wall rock 6.069 80.4
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Silica replacing
0.4 alcite w/ pockets
Silica Hill 33167 metre chip of Hematite 21.429 90.4
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Banded quartz-
Tin Can 33092 Grab adularia vein 29.349 44.5
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Banded quartz-
adularia-calcite
Tin Can 33095 Grab vein 3.703 18.6
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Banded quartz-
adularia vein with
Tin Can 33099 Grab fluorite 2.674 2.8
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Highly silicified
Camp Bell volcanic w/ quarts-
(New Target) 33161 Area of Float adularia 145.683 148.2
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Homestead Banded quartz-
(New Target) 32402 1 metre calcite vein 1.294 4.3
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Homestead 32403 & Sheeted quartz veins
(New Target) 32404 8 metres in andesite 0.17 1.5
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Homestead Sheeted quartz veins
(New Target) 32405 10 metre chip in andesite 0.219 2.5
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Homestead Banded quartz-
(New Target) 32407 Grab adularia vein 8.435 8.9
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These new sample results will be combined with earlier work to better define drill targets for the Phase 2 drill program planned for the spring of this year. Exploration continues to identify numerous silicified structural zones surrounded by stockwork veins and breccias. These structures have been followed for distances of up to 1.5 kilometres with stockwork veining and breccia zones extending over widths of up to 400 metres.
Management is increasingly confident, based on these results, that the Gold Springs project hosts broad areas of gold mineralization as well as individual high-grade quartz adularia veins which can assay greater than one ounce per tonne gold. The very encouraging surface geochemistry and geology have led to the development of new drill targets in areas that have not been previously tested.
The new Camp Bell target is located 3,000 metres southwest of the Silica Hill target in an area dominated by post-mineral cover. The material sampled that assayed 145.68 gpt gold was from a broad area of float that is believed to be locally derived. This discovery supports management's expectation that there are zones of mineralization that will be discovered under the extensive areas of post-mineral cover. The Homestead target area is a newly discovered zone that displays sheeted and stockwork veins over an area extending 500 metres along strike before going under cover, with widths of up to 400 metres.
HDG also completed a soil sampling program over a portion of the claim block in order to better define the size and continuity of some of the high priority target areas. A total of 697 samples were collected on a 100x50 metre grid over the northern portion of the property. Gold values obtained from the soil samples ranged from a low of below detection to a high of 1.302 gpt gold. Three large areas of anomalous soil geochemistry were defined; they measured 950x1500 metres, 400x800 metres and 580x650 metres, respectively. These latest positive results will assist with the process of defining new drill targets.
HDG has submitted a new Notice of Intent to the US Bureau of Land Management for a Phase 2 drill program which will be initiated in the spring of 2011 as soon as snow conditions allow.
Assays were performed in Reno, Nevada by Inspectorate Laboratories, an ISO 9001:2000 Certified laboratory. Gold was analyzed by fire assay of a 30 gram sample with an AA finish.
The Gold Springs property is under option from Fronteer Gold Inc. High Desert Gold Corporation can earn a 60% interest over a five-year period by spending US$1 million on exploration and paying Fronteer Gold US$160,000.
The Qualified Person on the Gold Springs project is Randall Moore, EVP Exploration and a certified professional geologist. He has reviewed the content of this press release.
Please see High Desert Gold Corporation's website, www.hdggold.com, for maps and drill hole locations.
Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include the planned exploration programs, drill targets as well as statements including words such as "promising," developing," "will," "plans," "intends," "anticipates," "should," "estimates," "expects," "believes," "indicates," "suggests," "potential," "interpretation," "process" and similar expressions. Information concerning the interpretation of rock chip and soil samples may be considered forward-looking statements, as such information constitutes a prediction of what mineralization might be found to be present if and when a project is actually developed. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, the availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined and further exploration results are obtained; receipt of necessary BLM approval for the planned drill program and other risks more fully described in the Company's Management Discussion & Analysis of Financial Position and Results of Operations, which is available on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, HDG assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
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.
Contacts:
High Desert Gold Corporation
Richard Doran
Executive Vice President
(303) 584-0606
(303) 758-2063 (FAX)
rdoran@hdggold.com
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