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Canadian Gold Hunter Corp.: Inferred Resource at GJ Project Contains 1.1 Million Ounces Gold and 741 Million Pounds Copper

Apr 27, 2005 - 01:41 ET


VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 27, 2005) - Canadian Gold Hunter Corp. (the "Company") (TSX:CGH) is pleased to announce completion of an independent resource calculation on the Donnelly Zone at its GJ gold-rich porphyry copper deposit in northern British Columbia. The resource estimate is based on 23 drill holes over a strike length of 1.1 kilometres. All material is considered at this time to be in the inferred resource category. The inferred resource is 105 million tonnes grading 0.32% copper and 0.32g/t gold at a 0.10% copper cutoff for assay composites. A higher grade core exists at a cutoff of 0.30% copper containing 41.5 million tonnes grading 0.50% copper and 0.52g/t gold.


Donnelly Inferred Resources

----------------------------------------------------------------
Cut off    Tonnes     Cu      Au    Contained Cu    Contained Au
Cu (%)   (000,000)    (%)   (g/t)   (million lbs)   (million ozs)
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0.10        105.1   0.32    0.32             741             1.1
----------------------------------------------------------------
0.20         71.2   0.40    0.40             628             0.9
----------------------------------------------------------------
0.30         41.5   0.50    0.52             457             0.7
----------------------------------------------------------------
0.40         24.5   0.61    0.66             329             0.5
----------------------------------------------------------------

The Donnelly Zone has been drilled to date to an average depth of about 200 metres. It is open in both directions on strike east-west, and at depth. It is at least 1100 metres in strike length and up to at least 340 metres wide.

The Donnelly Zone is one of three significant gold-rich copper porphyry zones associated with the Groat Stock on the southern portion of the GJ/Kinaskan claims. The other two zones are the GJ Zone and the North Zone, which have been traced by wide-spaced diamond drilling for 800 and 500 metres respectively. The North and GJ zones are up to about 100 metres wide and are both open in all directions and at depth.

The upcoming 2005 program will consist of 15,000 metres of diamond drilling to test the Donnelly Zone with a further 40 diamond drill holes to as deep as 500 metres and an additional 15 holes to test other targets. The main goal of the 2005 program is to double the Donnelly Zone resource (within the area drilled to date) and bring much of it into the drill indicated category. In addition, the Company expects to add to the resources by extending the Donnelly Zone on strike. Further potential exists on strike and down dip on the North and GJ Zones. An updated resource estimate will be completed following the 2005 program.

Rick Bailes, President of Canadian Gold Hunter, commented, "We are very excited about the upcoming summer program - it's not often one gets the chance to explore a mineralized system of this magnitude. We are pleased to be part of what looks to be a significant new copper/gold deposit in B.C."

The Donnelly Zone resource calculation was carried out by qualified person, Dr. Giles Peatfield, P.Eng. using a manual sectional method. The geological model was based on 5,256 metres of diamond drilling in 23 core holes with some 1,500 assays. Thirteen of the core holes were drilled by Texasgulf Canada Ltd. ("Tg") in 1977and 1980; this drilling was supervised by Dr. Peatfield. The other ten holes were drilled by the Company in 2004. The assay results from the recent diamond drill program were consistent with, and corroborated, the earlier work by Tg.

The 2004 drill program and sampling protocol were supervised by qualified person David Mehner, P.Geo., Project Geologist for Canadian Gold Hunter. Appropriate quality control and quality assurance protocols were utilized on the program. Standard reference samples were inserted in each batch of assays. The Canadian Gold Hunter drill samples were analyzed for gold by fire assay and for copper by atomic absorption at ALS Chemex in North Vancouver, B.C., Canada. A NI 43-101 compliant technical report will be completed by Mr. Mehner and Dr. Peatfield within 30 days.

The GJ/Kinaskan Property is located in northern British Columbia about 10 kilometres west of the Stewart Cassiar highway. The claims underlie an area of about 150 square kilometres, which contains 21 significant mineral showings, including the Donnelly, GJ and North zones.

Canadian Gold Hunter has a 100% working interest in the GJ/Kinaskan property. The 2005 diamond drilling program will commence on or about June 15th.

ON BEHALF OF THE BOARD

Richard J. Bailes, President


FOR FURTHER INFORMATION PLEASE CONTACT:

Canadian Gold Hunter Corp.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
www.canadiangoldhunter.com


 

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