VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Mar 26, 2004) -
Canadian Gold Hunter Corp. (the "Company") is pleased to report
initial assay results from drilling on the Hunt Zone on the
Company's Assean Lake shear-hosted gold project in north-central
Manitoba. Approximately 3,500 meters have been completed so far
of the planned 4,100-meter program of BQ diamond drilling on the
Hunt Zone and several reconnaissance targets on the north shore
of Assean Lake.
The drill program has significantly extended the high grade Hunt
Zone to depth and to the west. The Zone remains open in both
directions and the plunge of the high-grade core is flattening to
the west, which means that future drilling should intersect the
zone at shallower depths than originally anticipated. In
addition, the current drill program has resolved the geometry of
a deep fault structure allowing for a greater understanding of
the deposit. Please see the attached long section.
Assays for the first four holes in the Hunt Zone are presented in
the table below. True widths are 80% to 85% of the reported
Hole No. Collar Azimuth/Angle Interval Length Gold
(degrees) (m) (m) (g/t)
HT-04-137 1650E/057S 333/-62 252.70-257.60 4.90 1.88
includes 254.60-256.10 1.50 4.35
HT-04-138 1600E/053S 333/-65 259.65-263.40 3.75 7.14
includes 262.00-263.40 1.40 13.48
HT-04-139 1700E/088S 333/-63 284.60-286.70 2.10 0.42
HT-04-143 1600E/100S 333/-65 307.00-312.90 5.90 3.04
Assays are pending on three additional holes, HT-147, 151 and
155, which were drilled to the west and higher in the Hunt Zone
section to further test the extent of the zone. Two final holes,
HT-158 and 161, in progress will conclude the winter program on
the Hunt Zone.
"We are very pleased with the results and look forward to
continued success in expanding the Hunt Zone, commented Richard
Bailes, President of the Company, "The Hunt Zone shows excellent
continuity and has the potential to be a significant new gold
deposit in the prolific Canadian Shield - the most productive
shear-hosted terrain in the world."
The Assean Lake Project is a 60/40 joint venture between Canadian
Gold Hunter and Rare Earth Metals Corp.
Drill results and technical data have been reviewed by Jan
Christoffersen, P.Eng., a Qualified Person pursuant to NI-43-101.
The mineralized drill core intervals are split in the field and
sent to ALS Chemex in Vancouver for analysis. The intervals
containing visible gold are assayed by fire-assay procedure for
metallics gold. This procedure involves pulverizing a one-kg
sample and passing the prepared pulp through a 150 mesh (106
micron) screen. The +150 mesh material is analyzed in its
entirety by fire assay. The -150 mesh material is homogenized and
a 50-gram subsample is assayed by fire assay with gravimetric
finish. The samples from sections that did not contain visible
gold were fused by fire assay and analyzed by atomic absorption
spectroscopy. A series of standards are routinely introduced with
each batch of samples. Quality controls include preparation and
analysis statistics performed to industry standards.
ON BEHALF OF THE BOARD
Richard J. Bailes, President
NOTE: Location map available from the company at the number
listed below or on the company's website at