High River cuts 10 m of 39.4 g/t Au at Bissa Hill
2006-01-10 19:40 ET - News Release
Mr. Don Whalen reports
HIGH RIVER GOLD ENCOUNTERS ADDITIONAL POSITIVE INTERCEPTS FROM ITS BISSA GOLD PROJECT IN BURKINA FASO
High River Gold Mines Ltd. is providing assay results from an additional 14 drill holes and 14 trenches at Bissa Southwest, the Bissa Hill deposit south extension and the Bissa-Gonglou corridor of the company's Bissa project in Burkina Faso. The results reported today, from its nearly completed 33,500-metre drilling program, confirm the potential for outlining a significant gold resource sufficient to support a mining operation.
Highlights include:
* high-grade gold mineralization intersected at the Bissa Hill deposit south extension with three significant zones in one hole: 39.4 grams per tonne over 10 metres, 5.5 g/t over 11.5 metres, 12.2 g/t over 27.1 metres;
* mineralized zones 2 and 3 of Bissa Southwest extended down dip and down plunge: 10.6 g/t over seven metres in Zone 2, 11.7 g/t over 5.4 metres in Zone 2, 5.9 g/t over 10.1 metres in Zone 2, 16.3 g/t over eight metres in Zone 3; and
* gold mineralization extended to near surface at Zone 51 of the Bissa-Gonglou corridor with significant trenching results of: 1.5 g/t over 14.1 metres, 2.1 g/t over 10.8 metres, 5.0 g/t over 9.6 metres.
Bissa Hill deposit south extension
High River completed two additional core holes (337 metres) and two trenches (155.8 metres) on the southwestern zone of the Bissa Hill deposit south extension. The known high-grade zone was further extended down dip with core hole ZK05-054, drilled behind RC ZBR-189 (20 metres grading 17.0 g/t gold from 82 metres) on Section 8740E, which returned three significant gold intersections: 39.4 g/t over 10 metres from 53 metres, 5.5 g/t over 11.5 metres from 76 metres, and 12.2 g/t over 27.1 metres from 93.1 metres. The three intersections include very high gold grade intervals ranging from 40.9 g/t to 276.5 g/t as shown in the highlights table. The results also suggest the presence of two new potentially significant gold zones to the north of the target zone. Follow-up diamond drilling on these zones is planned for January.
The Bissa Hill deposit south extension is the southwest continuation of the Bissa Hill deposit, which currently contains a measured and indicated resource of approximately 150,000 ounces of gold (81,980 ounces in the measured category and 65,270 ounces in the indicated category). The gold mineralization in the south extension zone is hosted in a mafic schist unit, which forms the footwall of the Bissa Hill deposit. Since mid-September, High River completed 12 trenches (877 metres), 19 reverse-circulation holes (2,220 metres) and two core holes (337 metres) on this zone that has a strike length of approximately 1.5 kilometres. Refer to the company's announcements on Nov. 23, 2005, and Dec. 1, 2005, for more details.
BISSA HILL DEPOSIT SOUTH EXTENSION
Hole From To Gold
No. (m) (m) (g/t)
DDH ZK05-054 53.0 63.0 39.38
Incl. 58.0 59.0 15.10
Incl. 59.0 59.9 143.27
Incl. 59.9 60.5 80.93
Incl. 60.5 61.2 276.50
76.0 87.5 5.48
Incl. 83.0 84.0 19.67
Incl. 84.0 84.6 40.90
93.1 120.2 12.23
Incl. 94.3 95.2 17.21
Incl. 95.2 96.0 11.20
Incl. 96.0 97.4 27.80
Incl. 99.0 100.5 163.12
DDH ZK05-055 No significant results
Trench 8657E No significant results
Trench 8677E No significant results
Bissa Southwest
Assay results from a further nine core holes (1,618 metres) and two trenches (145 metres) returned encouraging intersections over significant widths at Bissa Southwest, located 700 metres southwest of the Bissa Hill deposit.
At Zone 2, core hole ZK05-050, testing the down-dip extension of a previously reported intersection of 12 metres grading 6.0 g/t (DDH ZK05-036) on Section 9180E, returned 8.4 g/t over 3.7 metres from 104 metres and 11.7 g/t over 5.4 metres from 111.9 metres. Core holes ZK05-048 and 049 on Section 9220N, drilled down dip from the previously reported intercept of 2.5 g/t over 11.8 metres (DDH ZK05-041), returned 5.9 g/t over 10.1 metres from 124.9 metres, and 10.6 g/t over seven metres from 136 metres, respectively. Core hole ZK05-057, drilled down dip from DDH ZK05-035, returned 3.6 g/t over 8.2 metres from 150 metres, confirming continuity of the mineralized zone.
At Zone 3 on Section 9260N, core hole ZK05-052 returned 1.9 g/t over 7.9 metres from 114.1 metres and core hole ZK05-053 cut 16.3 g/t over eight metres from 81 metres, 2.9 g/t over 7.2 metres from 102.8 metres and 2.8 g/t over seven metres from 113 metres. Core hole ZK05-051, drilled on new fence 9306E, cut a series of significant gold intersections with 9.33 g/t over two metres from 99 metres, 5.1 g/t over 4.3 metres from 105.9 metres, and a 47-metre interval grading 1.3 g/t from 144 metres along the hole. Follow-up drilling and trenching will continue in January.
At Zone 4, results from DDH ZK05-061, drilled down dip from a previous intercept of 51 metres grading 1.0 g/t (RC ZBR-139) on Section 9220N, confirmed continuity of the gold mineralization with an interval of 64 metres grading 0.9 g/t from 22 metres, and additional gold intersections of 1.1 g/t over 11 metres from 99 metres and 2.0 g/t over 13.6 metres from 172 metres. Trench TR-9057E(N) cut a 25-metre zone averaging approximately one g/t. Thus far, drilling results from Bissa Southwest Zone 4 have given less than one g/t values over wide intervals, which could potentially provide feed for a low-cost heap-leach operation.
BISSA SOUTHWEST HIGHLIGHTS
Hole From To Gold
No. (m) (m) (g/t)
Zone 2
DDH ZK05-048 109.0 112.0 3.68
124.9 135.0 5.89
Incl. 126.0 126.4 28.60
Incl. 127.0 128.0 10.00
Incl. 129.15 130.2 22.30
DDH ZK05-049 136.0 143.0 10.64
Incl. 138.0 139.2 30.40
Incl. 141.0 142.0 10.50
Incl. 142.0 142.7 14.20
DDH ZK05-050 104.0 107.7 8.38
Incl. 104.45 105.0 18.80
Incl. 106.0 106.4 13.50
Incl. 107.0 107.7 19.60
111.9 117.3 11.71
Incl. 111.9 113.0 26.60
Incl. 113.0 114.1 17.23
DDH ZK05-056 No significant results
DDH ZK05-057 150.0 158.2 3.56
Incl. 153.0 154.0 14.52
Zone 3
DDH ZK05-051 99.0 101.0 9.33
Incl. 99.0 100.0 18.05
105.9 110.2 5.15
Incl. 106.5 107.35 11.20
Incl. 109.7 110.2 20.60
144.0 191.0 1.30
Incl. 144.0 152.0 1.76
Incl. 156.0 166.0 1.64
Incl. 171.0 191.0 1.13
DDH ZK05-052 114.1 122.0 1.87
DDH ZK05-053 81.0 89.0 16.33
Incl. 82.0 83.0 12.47
Incl. 83.0 84.0 60.80
Incl. 84.0 85.0 30.09
Incl. 88.0 89.0 22.90
102.8 110.0 2.92
113.0 120.0 2.84
Zone 4
DDH ZK05-061 22.0 86.0 0.94
Incl. 22.0 41.0 0.85
Incl. 44.0 69.0 1.01
Incl. 72.5 86.0 1.25
99.0 110.0 1.06
172.0 185.55 1.96
Trench 9057E(N) 52.0 61.0 1.44
64.0 77.0 0.91
Trench 9217E(N) No significant results
To date, High River has completed 20 core holes (3,489 metres), 20 RC holes (2,338 metres) and five trenches (285 metres) at Bissa Southwest. High River has defined five subparallel gold zones, 100 to 150 metres apart, trending northeasterly and dipping 30 to 40 degrees to the northwest. Geological interpretation of the data indicates that gold mineralization is localized at the hinge zones of parasitic folds (zones 0 to 4), forming a moderately northeasterly plunging syncline. All five subparallel zones remain open down plunge to the northeast and have been drilled to depths ranging from 34 metres at Zone 0 to depths of 140 metres at Zone 2. Gold mineralization occurs primarily in altered, pyrite-bearing argillites and occasionally siltstones, and in the underlying massive sandstones with zones of grey cryptocrystalline quartz veining and strong silicification. Oxidation occurs to depths between 50 and 75 metres. Drilling and trenching will continue in January on the best zones.
Bissa-Gonglou corridor
High River received assays from an additional three core holes (418 metres) and eight trenches (1,025 metres) on Zone 51 of the Bissa-Gonglou corridor, located immediately southwest of Bissa Southwest and the Bissa Hill deposit south extension.
Zone 51 contains a series of subparallel gold zones hosted by mafic schists. Gold occurs with quartz veins and associated alteration (silica, iron carbonate and pyrite with enveloping sericitization) in strong deformation zones. The dips of the gold zones are subvertical to north and locally south.
Previously announced results on the western portion of Zone 51, located 330 metres east of the Gonglou artisanal mining site, indicated the presence of at least two, and possibly four, subparallel zones extending over a strike length of 220 metres. One of two core holes drilled successfully extended the gold mineralization down dip on Section 6300E. Core hole ZK05-059 returned 1.4 g/t over seven metres from 61 metres and 15.2 g/t over 1.45 metres from 84.6 metres, confirming continuity at depth.
Other significant results are from the trenches excavated on the eastern portion of Zone 51: TR-7097E intersected 1.82 g/t over 6.6 metres and 1.47 g/t over 14.1 metres; TR-7177E(N) encountered 2.1 g/t over 10.8 metres; TR-7337E intersected 5.0 g/t over 9.6 metres and 1.82 g/t over 6.4 metres; and TR-7497E cut 3.2 g/t over 8.9 metres and 2.4 g/t over 5.6 metres.
To date, High River has completed 10 core holes (1,434 metres), 66 RC holes (7,742 metres) and 11 trenches (1,163 metres) at Zone 51.
BISSA-GONGLOU CORRIDOR HIGHLIGHTS
Hole No. From To Gold
(m) (m) (g/t)
Zone 51 (west)
DDH ZK05-059 61.0 68.0 1.44
84.55 86.0 15.23
Incl. 84.55 85.0 26.40
Incl. 85.0 86.0 10.20
DDH ZK05-060 No significant results
Zone 51 (east)
DDH ZK05-058 No significant results
Trench 7097E 18.4 25.0 1.82
116.0 130.1 1.47
Trench 7177E(S) 28.6 36.0 1.76
Trench 7177E(N) 31.0 41.8 2.12
Trench 7257E No significant results
Trench 7337E 11.7 21.3 4.97
99.1 105.5 1.82
Trench 7417E 0.2 5.1 2.90
Trench 7497E 27.0 35.9 3.18
Incl. 28.0 29.0 12.36
40.8 46.4 2.35
45.6 46.4 11.07
Trench 7577E No significant results
Trench 8137E No significant results
Trench 8217E 21.0 24.0 3.51
62.6 64.6 9.82
Incl. 62.6 63.7 12.20
Bouly and Liliga targets
High River is advancing preliminary work on two of the five high-priority areas, defined in the compilation work completed in early November, 2005, with a drilling program planned to start in the first quarter of 2006. At Bouly and Liliga, both located within 10 kilometres of the Bissa project, geological mapping at 1:5,000 is near completion, soil sampling on a 100-metre by 100-metre grid, and rock chip sampling have been completed. Assays are pending. Both targets were previously investigated by the Sanmatenga joint venture, which was carried out by Randgold Resources Ltd. from 1993 to 2001 (refer to news in Stockwatch on Nov. 10, 2005, for more details).
Complete tables of results, surface and longitudinal plans and cross-sections for the Bissa project are posted on the company's website.
In mid-September, High River started an exploration program consisting of 10,500 metres core (DDH), 17,000 metres reverse circulation (RC), 6,000 metres rotary air blast (RAB) drilling and 2,500 metres of trenching. Approximately 4,300 metres of the core-drilling program remains to be carried out. After completion of the drilling campaign, the company will commission an independent resource estimate for the project, which is expected to be completed by the end of the first quarter of 2006. By combining the Bissa Hill deposit and its southern extension, Bissa Southwest and part of the Bissa-Gonglou corridor, High River expects to achieve its initial goal of defining a one-million-ounce gold resource amenable to open-pit mining. All zones lie within a 5.5-kilometre strike length on the Sabce shear zone, which has been traced for over 30 kilometres. Five other promising gold target areas that are within 10 to 15 kilometres of the Bissa project have yet to be tested by High River, and offer the potential to host a similar-size resource.
Quality control program
The quality control protocol in place has been designed to meet or exceed the requirements of National Instrument 43-101 of the Canadian securities administrators. This quality control program includes the use of certified standard reference samples, coarse field blank material and duplicate assaying. Driffield Cameron, vice-president, exploration, is the qualified person for High River Gold Mines, supervising the Bissa project. Analytical work is carried out at the independent Abilab Laboratories Ltd. in Bamako, Mali. A 0.5-gram-per-tonne cut-off grade was used for the calculation of composite intervals. The maximum distance of dilution of assay results of less than the cut-off grade included within a composite interval is 2.5 metres.
We seek Safe Harbor.
AI
