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Canadian Gold Hunter Announces Drilling Underway at Zymo Copper/Gold Project, B.C.
Sep 9, 2008 - 09:00 ET
FOR FURTHER INFORMATION PLEASE CONTACT:
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 9, 2008) - Canadian Gold Hunter Corp. (the "Company") (TSX:CGH) and Eastfield Resources Ltd. ("Eastfield") are pleased to report that drilling is underway on the Zymo copper-gold property 45 km west of Smithers, BC. Exploration on the project has been ongoing since late June in preparation for the drill program. This work has included geochemical sampling, IP geophysical surveying and geological mapping.
The drilling program will total approximately 1,500 metres in 6 holes and will focus on the newly discovered Hobbes target located 4.5 km northwest of the original discovery area (FM grid). The Hobbes target consists of copper-gold mineralization associated with magnetite and quartz stockwork. Mineralized outcrops have been observed along the length of a strongly altered intrusion for approximately 800 m. Copper and gold values from outcrop samples range from background levels to 0.86% Cu and 1.1 g/t Au.
The IP geophysical survey is nearing completion and has shown that mineralization is associated with a very large sulphide system. The IP anomalies on the FM and Hobbes grids are approximately 2.5 km wide and are open-ended (2.0 km long on FM and 1.5 km long on Hobbes). Two lines are being surveyed between the grids to determine if the anomalies join.
CGH can earn a 60% interest in the property by completing exploration expenditures of $4 million over five years. CGH may earn an additional 10% interest by completing a feasibility study and an additional 5% by arranging mine financing for Eastfield.
G.L. Garratt, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release. R.J. Johnston, P.Geo., who is a qualified person within the context of National Instrument 43-101, is supervising the exploration program on the Zymo property. Analyses were performed by Acme Analytical Laboratories, a certified facility located in Vancouver, BC, using multi-element (ICP-ES) procedures, with gold and silver determined by fire assay procedures.
ON BEHALF OF THE BOARD
Richard J. Bailes, President
Canadian Gold Hunter Corp.
(604) 689-4250 (FAX)