Replies to post #490 on Golden Hope Mines Ltd (GNH)

[GuruTrader]

golhf is .073 x .088 5K vol

huge news out this am!!!

GOLHF NEWS OUT THIS MORNING

Golden Hope Announces up to 9.3g/t Assay Results; Receives Positive Identification of Other Timmins-Type Targets


9:14 AM ET, January 29, 2009


TORONTO, ONTARIO, Jan 29, 2009 (Marketwire via COMTEX) -- Golden Hope Mines Limited (GNH)(PINK SHEETS:GOLHF) is pleased to announce results of the 2008 diamond drill program on the Timmins gold deposit.

Result highlights include:
8 meters 3.48 g/t Au average
4 meters of 3.42 g/t Au average
4 meters of 2.317 g/t Au average
2 meter of 2.26 g/t Au average

Hole BD 2008-92, the deepest hole drilled into the Timmins 2 zone, in addition to 4.35g/t in a six meter core section beginning at 130m returned 1.36 g/t Au over one meter of core at 300m demonstrating that mineralization is open at depth. More complete results are published in the table below as well as on our website. Cross sections of the Timmins 2 mineralized zones are also posted on our website.

The 2008 program allowed our technical team to better define the geology and structure of the Timmins gold deposit adjacent to previous positive drill results obtained during the 2007 diamond drilling program.

We now have two mineralized intrusives: Timmins 1 which is the historical deposit found in 1952 and Timmins II which was uncovered by GNH in 2007 and partially defined by diamond drilling in 2008.

Both mineralized intrusives contain horizontal (flats) and vertical to steeply dipping auriferous quartz veins. Gold is present in small clusters of nuggets. Both in T1 and T2, the vertical to steeply veins, are traceable over significant distances (metres) and returned higher assay results. In the 2008 drill program, a vein system dipping southeast at approximately 70 degrees has been traced down-dip sub-parallel to the southeast intrusive contact.

During the 2008 program, GNH also completed a geochemical soil survey on a target with Timmins-style mineralization. Our team is compiling and interpreting the results, which are proving very encouraging.

Stripping/drilling, mapping and sampling of this prospect will be part of the 2009 exploration program.

Two additional areas favourable for hosting Timmins-like deposits have been identified from the efforts of the past two years and warrant similar geochemical sampling with detailed follow-up investigations.

GNH systematically reprocesses positive drill samples with total pulp metallic preparation in order to lessen the nugget effect.

James E. Tilsley, P.Eng. is acting as the qualified person (QP) for Golden Hope Mines Ltd. in compliance with National Instrument 43-101 and has reviewed the technical contents of this release.

About Golden Hope Mines Ltd.

Golden Hope Mines Limited is a mineral exploration company that seeks to grow shareholder value through the acquisition, exploration and development of potentially large-scale gold, silver and base metal projects suitable for underground and/or open-pit mining. The company's two areas of interest are located in Quebec, Canada and Maine, U.S.A. The Bellechasse gold project in Quebec includes the Timmins and Ascot gold zones, the Coucou volcanic target and a number of newly claimed serpentinite geological formations. For further information on Golden Hope, visit www.goldenhopemines.com.

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the company expects are forward-looking statements. Although the company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. Factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the company, investors should review registered filings at www.sedar.com.

SOURCE: GOLDEN HOPE MINES LIMITED

Golden Hope Mines Limited
Louis HoelPresident
[phone]
[phone] (FAX)
Email: [e-mail]
Website: www.goldenhopemines.com

[GuruTrader]

still early...