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Canadian Gold Hunter Announces Summer Drilling Starts at Assean Lake Gold Project in Manitoba
Jul 13, 2004 - 04:10 ET
FOR FURTHER INFORMATION PLEASE CONTACT:
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jul 13, 2004) - Canadian Gold Hunter Corp. (the "Company") is pleased to announce the start of the summer drilling program at the Assean Lake gold project. The Assean Lake project covers an area of 10,000 hectares, and is located in north-central Manitoba, approximately 120 kilometres northwest of Thompson.
Approximately 4,000 metres of drilling is scheduled to follow up on the successful results received from the winter program. A total of 4,237 metres were drilled in a 25-hole program in the winter program which resulted in the significant expansion of the high-grade Hunt Zone to the west and at depth. Mineralization at the Hunt Zone remains open in both directions and the plunge of the high-grade core is flattening to the west, which means that the zone could possibly be intercepted at shallower depths than originally anticipated.
The gold intercepts from the winter program were the best ever encountered on the Hunt Zone, including a 2.94 metre interval at 38.6 g/t gold. Significant visible gold was noted in all of the intercepts. In addition, a second high-grade zone (Hunt B) was intersected some 40-45 metres below (to the north of) the Hunt Zone.
The Hunt Zone is a shear-hosted deposit which has been traced by drilling for 600 metres along strike and to a depth of over 300 metres. The Hunt Zone is exhibiting excellent continuity and will be further tested in the current program both on strike and at depth.
The project is a joint venture between Canadian Gold Hunter (60%) and Rare Earth Metals Corp. (40%).
ON BEHALF OF THE BOARD
Richard J. Bailes, President
Canadian Gold Hunter Corp.
(604) 689-4250 (FAX)