Information posted is accurate at the time of posting, but may be superseded by subsequent press releases.
Canadian Gold Hunter Corp.: Drilling to Commence at Caballo Blanco Project
Nov 28, 2007 - 09:00 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2007) - Canadian Gold Hunter Corp. (the "Company") (TSX:CGH) is pleased to announce that diamond-drill mobilization is underway at the Caballo Blanco gold project in the state of Veracruz, Mexico. Drilling will commence shortly as part of an initial 5,000-meter program on this large (approx. 200 square kilometers) property.
The primary target at Caballo Blanco is a high-sulphidation gold deposit identified and only partly explored by a previous operator. Drilling will commence on the Northern Zone, a high-sulphidation alteration system comprising strong vuggy silica, quartz-alunite and various clay minerals extending over 20 square kilometers. Road access to key areas within the Northern Zone is now approaching completion.
Within the Northern Zone, earlier drill intercepts at Cerro la Cruz reported by a previous operator in 2005 and 2006 graded 1.14 g/t Au (grams per metric ton gold) over 108 meters in DDH-05CB-03, 1.0 g/t Au over 92.7 meters in DDH-06CB-01 and 1.70 g/t Au over 76.0 meters in DDH-06CB-03 (see Almaden Minerals news releases dated August 8, 2005 and August 10, 2006). The principal focus of drilling in the current program will be the Cerro la Cruz target, utilizing much-improved road access. To this point, Cerro la Cruz has been drilled from only one isolated site.
Concurrently, road access is being extended into the Central Grid Zone, a porphyry copper-gold target some 10 kilometers SW of the Northern Zone. The Central Grid Zone encompasses a broad area of 16 square kilometers exhibiting extensive strong Cu-Au-Mo soil, magnetic and IP anomalies. One core hole, DDH-04CB01 drilled by a previous operator intersected 0.34% Cu and 0.84 g/t Au over 56 meters (see Almaden Minerals news release dated June 01, 2005) in altered monzodiorite. The hole was drilled within the limits of a magnetic anomaly that reflects hydrothermal magnetite associated with copper sulphides, mainly chalcopyrite. Five other significant magnetic anomalies in the Central Grid Zone have not been explored.
The Company can earn a 70 per cent interest in the Caballo Blanco project from Almaden Minerals Ltd. by spending US$12 million over a period of six years.
The geological data in this news release were verified by qualified person Jan Christoffersen, P. Eng., Vice President of Canadian Gold Hunter Corp.
ON BEHALF OF THE BOARD
Richard J. Bailes, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian Gold Hunter Corp.
(604) 689-4250 (FAX)