High River (HRG.TO) 2 good hits: 14m@35.2g/t, 14.2m2@6.9g/t
Thu Feb 23, 2006
Further Positive Drill Results From High River Gold'S Bissa Project Drilling Programme Now Completed
Toronto, February 23, 2006 -- High River Gold Mines Ltd. ("High River" or the "Company") is pleased to report additional results from its 31,500 metre drilling programme on the Bissa project in Burkina Faso. Assay results were received from 10 diamond drill holes and one trench completed at Bissa Southwest and Bissa Hill deposit south extension to extend the known gold mineralization. Because of the success of this campaign, the Company has engaged SRK Consulting Engineers and Scientists to conduct an independent resource estimate for the project, which is expected to be completed by the end of the first quarter of 2006.
High River is very encouraged with the results at Bissa and is planning to start an aggressive drilling programme on high priority targets located within 10 to 15 kilometres of the Bissa project.
Highlights include:
- High-grade gold zone extended along strike at Bissa Hill deposit
south extension with three significant intersections in one hole:
35.2 g/t over 14 m
3.5 g/t over 15 m
4.0 g/t over 24.6 m
- Gold mineralization extended to near-surface and down-dip to
approximately 100 m vertical at Zone 3 of Bissa Southwest:
2.1 g/t over 20 m
6.9 g/t over 14.2 m
Bissa Hill Deposit South Extension
High River drilled six step-out core holes (901.5 m) on the high-grade southwestern zone of the Bissa Hill deposit south extension. Of these holes, ZK06-63 (section 8780E) drilled 40 metres east of the last fence drilled, returned three significant gold intersections: 35.2 g/t over 14 m from 69 m, 3.5 g/t over 15 m from 89 m, and 4.0 g/t over 24.6 m from 107.5 m. Hole ZK06-62, drilled above ZK06-63, intersected the zone near the top of the plunge with 1.1 g/t over 14.2 m from 90.8 m. Another fence of two core holes, drilled a further 40 metres to the east (section 8820E), returned 10 m averaging 0.97 g/t from the deeper hole ZK06-65 and lesser gold values in hole ZK06-64, which defined the up-dip extent of the zone. On the next fence (section 8860E), a further 40 metres to the east, core hole ZK06-66 returned 2.1 g/t over 9.4 m from 147 m and the deeper hole ZK06-67 returned several intersections with grades up to 11.2 g/t over narrow widths.
The high-grade mineralized zone now extends for 300 metres along strike (between sections 8500E and 8800E) plunging 30 degrees to the northeast and remains open down-dip. Drill results have confirmed the continuity and high-grade nature of the zone to a vertical depth of 85 metres.
To date, High River has completed 15 core holes (2,247 m), 19 RC holes (2,220 m) and 12 trenches (1,012 m) at the Bissa Hill deposit south extension. Prior to High River, Jilbey Gold Exploration Ltd. ("Jilbey") had drilled 16 core holes (2,058 m), 36 RC holes (3,589 m), and excavated one 1 trench (200 m).
Bissa Hill Deposit South Extension Highlights
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Hole No. From (m) To (m) Interval (m) Gold (g/t)
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DDH ZK06-062 90.75 105 14.25 1.10
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DDH ZK06-063 69.0 83.0 14.0 35.19
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Including 69.0 70.0 1.0 228.78
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Including 70.0 71.0 1.0 212.88
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Including 71.0 72.0 1.0 8.63
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Including 72.0 73.0 1.0 22.02
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Including 73.0 77.0 4.0 3.52
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Including 77.0 83.0 6.0 0.62
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89.0 104.0 15.0 3.48
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Including 94.5 95.0 0.5 22.60
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Including 96.0 97.0 1.0 17.80
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107.5 132.1 24.6 4.04
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Including 113.0 114.0 1.0 38.90
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Including 116.0 117.0 1.0 17.80
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Including 126.0 127.0 1.0 13.00
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DDH ZK06-064 No significant Assays
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DDH ZK06-065 No significant Assays
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DDH ZK06-066 137.6 147.0 9.4 2.15
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DDH ZK06-067 No significant Assays
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Note: Assays reported are uncut. All values above 10 g/t in the
composite are reported in the table. True width is estimated to be 60% of the drilled length.
Bissa Southwest
The Bissa Southwest area, located immediately north of the Bissa Hill deposit south extension and 700 metres southwest of the Bissa Hill deposit is composed of four subparallel gold zones hosted primarily by the argillaceous sediments of an easterly plunging syncline. Four diamond drill holes (495.5 m) tested the up-dip and down-dip projections of Zone 3 (3 holes) and Zone 4.
Zone 3 was tested on section 9306E with hole ZK06-69, which returned 2.1 g/t over 20 m from 115 m, extending the zone approximately 35 metres up-dip from ZK05-51, which had returned 1.3 g/t over 47 m, in addition to 9.3 g/t over 2 m and 5.1 g/t over 4.3 m. Hole ZK06-71 located on section 9260E, 46 metres west of ZK06-69, intersected 6.9 g/t over 14.2 m from 142 m, extending the zone 30 metres down-dip from hole ZK05-53, which had returned 2.9 g/t over 7.2 m from 102.8 m and 2.8 g/t over 7 m from 113 m. Hole ZK06-70, drilled on the same section, defined the up-dip extent of the zone returning just over 1.0 g/t over widths of 1 to 3.4 m. Trench ZKTR-9217E returned an intersection of 2.6 g/t over 9.4 m, successfully confirming a 35 metre up-dip extension of the mineralization intersected in RC ZBR-126, which had returned 2.6 g/t over 16 m. Zone 3 remains open along strike to the east and down-plunge.
To date, High River has completed 26 core holes (4,367 m), 20 RC holes (2,338 m) and 5 trenches (285 m) at Bissa Southwest and has defined four subparallel gold zones, 100 to 150 metres apart, trending northeasterly and dipping 30 to 40 degrees to the northwest. The previous campaign by Jilbey included 10 core holes (1,197 m), 28 RC holes (2,750 m), and two trenches (1,060 m).
On Zone 4, core hole ZK06-68 (section 9300E) did not intersect the targeted argillite unit and returned low-grade values in the footwall sandstone.
Bissa Southwest Highlights
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Hole No. From (m) To (m) Interval (m) Gold (g/t)
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Zone 3 DDH ZK06-069 108.0 110.6 2.6 4.13
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115.0 135.0 20.0 2.14
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Including 117.5 118.2 0.7 14.60
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DDH ZK06-070 No significant
Assays
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DDH ZK06-071 142.0 156.25 14.25 6.95
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Including 143.95 145.0 1.05 15.10
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Including 145.0 146.0 1.0 25.00
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Including 150.0 152.0 2.0 10.65
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Including 155.9 156.25 0.35 17.90
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Trench
ZKTR-9217E 30.5 32.7 2.2 5.07
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80.7 90.1 9.4 2.61
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Zone 4 DDH ZK06-068 No significant
Assays
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Note: Assays reported are uncut. All values above 10 g/t in the
composite are reported in the table. True width is estimated to be
90-100% of the drilled length.
Note: Assays reported are uncut. All values above 10 g/t in the composite are reported in the table. True width is estimated to be 90-100% of the drilled length.
High River has now completed a total of 31,311 metres of drilling consisting of 8,561 metres of core (DDH), 17,043 metres of reverse circulation (RC), and 5,707 metres of rotary air blast (RAB) drilling, and 2,580 metres of trenching. The last core hole (165 m) is being completed and assays are pending for an additional nine holes. Prior to the merger, Jilbey had completed 26 core holes (3,256 m), 81 RC holes (7,792 m), 809 RAB holes (31,983 m) and five trenches (1,971 m).
By combining the Bissa Hill deposit and its southern extension, Bissa Southwest and part of the Bissa-Gonglou corridor, High River anticipates achieving its initial goal of defining a one million ounce gold resource. 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.
Complete tables of results, surface and longitudinal plans and cross-sections for the Bissa Project are posted on the Company's website www.hrg.ca/Projects/Exploration/Bissa Group Permits or on the home page under Qwik Access.
Bouly, Liliga and Gougre Targets
Three high priority gold occurrences in the Bissa area are being rapidly advanced to the drill target stage. High River completed geological mapping, soil sampling on a 100 m by 100 m grid, and rock chip sampling at both Bouly and Liliga, located approximately 10 kilometres from the Bissa Hill deposit. Results are being compiled along with past exploration work that included airborne geophysics and limited drilling. At Gougre, approximately 13 kilometres from the Bissa Hill deposit, similar work is being carried out; results of the detailed soil sampling are pending. Previous work completed by Randgold Resources Ltd. and its joint venture partners is detailed in High River Gold's press release dated November 10, 2005.
Quality Control Programme
The Quality Control Protocol ("QC") in place has been designed to meet or exceed the requirements of NI 43-101 of the Canadian Securities Administrators. This QC programme 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 Ltd supervising the Bissa Project. Analytical work is carried out at the independent Abilab Laboratories Ltd. in Bamako, Mali. A 0.5 g/t 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.
About High River
High River is currently constructing two open pit gold mines, the Taparko-Bouroum project in Burkina Faso and the Berezitovy project in Russia. Upon successful commissioning of these two development projects, together with gold production from High River's 85%-owned Russian subsidiary, OJSC Buryatzoloto, High River's annual gold production rate is expected to exceed 300,000 ounces by 2007, establishing the Company as a mid-tier gold producer.
For further information, please contact:
Don Whalen, Executive Chairman or
Laurie Gaborit, VP Investor Relations
High River Gold Mines Ltd.
Tel: (416) 947 1440 • Fax: (416) 360 0010
Email: info@hrg.ca • Web site: www.hrg.ca
AI
