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Canadian Gold Hunter Intersects 229 Metres Grading 0.55 g/t Gold, 2.6 g/t Silver and 0.3% Zinc at Bob Creek

Jan 10, 2005 - 05:51 ET


VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 10, 2005) - Canadian Gold Hunter Corp. (the "Company") (TSX:CGH) announces the final drill results on its Bob Creek gold project in central British Columbia. The best results of the program were in drill hole 04-001, which intersected 228.6 metres grading 0.55 g/t gold, 2.6 g/t silver and 0.28% zinc at a down-hole depth of 75.28 metres.

Five NQ holes totaling 1434 meters were drilled in the program. Hole 04-001 was drilled in the Canyon Zone as a follow up to historic(i) hole 89-2, which is reported to have intersected 156.1 metres grading 0.79 g/t gold, 5.4 g/t silver and 0.54% zinc. Holes 04-002 to 005 were drilled in the South Zone to follow up on historic(i) hole 89-8, which intersected 3.0 metres grading 23.7 g/t gold. These last four holes did not intersect any significant mineralized intervals. The results for hole 04-001 are shown in the accompanying table.

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Drill        Azimuth/                               g/t     g/t     %
hole            Incl     depth  interval   width   gold  silver  zinc
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04-001   045 degrees/    303.9      75.3-  228.6   0.55     2.6  0.28
         -55 degrees               303.9
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                     including      84.4-   48.8   1.01     3.1  0.43
                                   133.2
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                     including      99.7-    9.1   3.34     8.7  1.06
                                   108.8
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                           and     121.0-   12.2   0.94     2.1  0.38
                                   133.2
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The primary target in the Canyon Zone at Bob Creek is a large, low-grade gold-silver-zinc system. Hole 04-001 corroborated the results from historic hole 89-2 which was drilled 25 metres to the northwest of hole 04-001 at azimuth 090 degrees and inclination -55 degrees. (i)Historic drill results reported by previous owners in 1989 prior to implementation of NI 43-101. The historic assay results reported are believed to be accurate but have not been verified by the Company's Qualified Person and therefore should not be regarded with undue reliance until further work has been performed by the Company on the property.

The four holes drilled into the South Zone bracketed the encouraging intercept in historic hole 89-8. The four holes did not extend the high-grade gold intercept down dip or along strike and limits the extent of this mineralization. However, these four holes did intersect broad zones of weakly mineralized rock that are anomalous in copper, gold, silver, zinc and lead.

The mineralization at Bob Creek is associated with a strong 3000 by 500 metre IP chargeability anomaly caused by a large sulphide system. The rocks in the area are poorly exposed and the mineral distribution is not well understood. Further compilation work will be undertaken over the winter before additional field work is contemplated.

Drill core was prepared and analyzed by ALS Chemex in accordance with industry standards. Drill results and technical data were reviewed by J. E. Christoffersen, P. Eng., a Qualified Person pursuant to NI 43-101. Intervals listed above are for core lengths assayed. True thicknesses are not accurately known at this time; in some cases they may be less than the core lengths reported. The Company has a 100% working interest in the Property.

This News Release contains forward looking statements which are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward looking statements. The Company does not intend to update this information and disclaims any legal liability to the contrary.

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)
Website: www.canadiangoldhunter.com


 

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