NGEx Resources Inc.
The NGEx District

Chile's Biggest New Copper-Gold Camp

News

Investors

News


Information posted is accurate at the time of posting, but may be superseded by subsequent press releases.

Canadian Gold Hunter Corp.: Drilling at Zymo Project Significantly Expands Hobbes Copper/Gold Zone

Sep 14, 2009 - 08:30 ET
View News Release in PDF Format


VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 14, 2009) - Canadian Gold Hunter ("Canadian Gold Hunter") (TSX:CGH) and Eastfield Resources Ltd. ("Eastfield") are pleased to announce that results have been received from the recently completed drilling program on the Zymo copper-gold property located 45 kilometres west of Smithers, BC. Four holes were drilled at the Hobbes Zone and one hole tested a showing in the FM Zone. All holes intersected mineralization.

Of the four holes drilled in the Hobbes Zone, three (ZY-09-13, 15, 16) were each 100 m step-outs to the west of ZY-08-07 and ZY-08-08. Each of these holes intersected mineralization and the Hobbes zone has now been traced over 600 m in an east-west direction. The most westerly hole, ZY-09-16, intersected the longest interval of mineralization to date indicating good potential for further extension of the mineralized zone to the west and south. Hole ZY-09-14 is a vertical hole drilled at the site of previously released holes ZY-08-09 (72.0 m of 0.72% copper; 0.54 g/t gold) and ZY-08-10 (57.0 m of 0.43% copper; 0.32 g/t gold). This hole intersected 273 m of 0.23% copper and 0.15 g/t gold and confirms that mineralization persists to greater depth. Hole ZY-09-17 was drilled in the FM zone. A summary of significant results is as follows:

/T/

--------------------------------------------------------------------
HOLE ID       FROM (m)   TO (m)   INTERVAL (m)(i)   Cu (%)   Au (g/t)
--------------------------------------------------------------------
ZY-09-13          3.0    428.0             425.0     0.15       0.09
--------------------------------------------------------------------
including       255.0    381.0             126.0     0.20       0.15
--------------------------------------------------------------------
ZY-09-14          3.0    276.0             273.0     0.23       0.15
--------------------------------------------------------------------
including         9.0    108.0              99.0     0.36       0.25
--------------------------------------------------------------------
including        33.0     93.0              60.0     0.44       0.30
--------------------------------------------------------------------
ZY-09-15         33.0    441.0             408.0     0.21       0.11
--------------------------------------------------------------------
including        87.0    153.0              66.0     0.33       0.20
--------------------------------------------------------------------
including       297.0    318.0              21.0     0.31       0.18
--------------------------------------------------------------------
ZY-09-16         30.0    369.0             339.0     0.23       0.13
--------------------------------------------------------------------
including       139.0    330.0             171.0     0.31       0.18
--------------------------------------------------------------------
including       201.0    279.0              78.0     0.41       0.26
--------------------------------------------------------------------
ZY-09-17          9.0     42.0              33.0     0.13       0.11
--------------------------------------------------------------------

(i) Intervals are core lengths and true widths may be less than reported
    here.

/T/

Work on the Zymo property to date has confirmed the presence of a sulphide mineralized copper-gold system that is over 8 km long and 2 km wide and hosts several mineralized targets including the Hobbes and FM. Fill-in soil geochemical sampling was carried out on the URC target which lies 1.5 km west of the Hobbes Zone and confirmed a 1.5 km long coincident copper-gold anomaly. This target is beyond the end of the geophysical grid and prospecting found no outcrops, however, a sample of mineralized float returned 0.33% copper and 0.22 g/t gold. This target further expands the discovery potential of the property.

Canadian Gold Hunter has the option to earn a 60% interest in the property by completing exploration expenditures of $4 million over five years. Canadian Gold Hunter 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. Bob Johnston, P.Geol., also a qualified person within the context of National Instrument 43-101, supervised the project work in the field. Analysis was performed by Acme Analytical Laboratories, a certified facility in Vancouver, BC, using multi-element (ICP-MS) Aqua Regia Digestion (1D) procedures, with gold and silver values determined using fire assay procedures.

Forward-Looking Statements

This news release contains certain forward-looking statements relating to Canadian Gold Hunter that includes risks and uncertainties. All statements, other than statements of historical fact, are forward-looking statements. When used in this news release, the words "anticipate", "will", "believe", "estimate", "expect", "target", "plan", "may" and similar expressions, identify forward-looking statements with respect to events that "may" or "will" occur. Forward-looking statements are necessarily based upon a number of assumptions and current expectations that, while considered reasonable by Canadian Gold Hunter as at the date on which they were made, are inherently subject to significant uncertainties and risks. Many factors, both known and unknown, could cause the actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Assumptions upon which such forward-looking statements are based include that the transaction will be completed, that all required third party regulatory, governmental and shareholder approvals for the transaction will be obtained and all other conditions to completion of the transaction will be satisfied or waived. Many of these assumptions are based on factors and events that are not within the control of Canadian Gold Hunter or Sanu and there is no assurance they will prove to be correct. Although Canadian Gold Hunter have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Canadian Gold Hunter undertake no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Other risks are set forth in the annual information form of Canadian Gold Hunter.

FOR FURTHER INFORMATION PLEASE CONTACT:

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



Contact