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MONTREAL, Nov. 21, 2011 /CNW/ – Golden Hope Mines (TSX VENTURE: GNH)(OTCQX: GOLHF) – Golden Hope Mines Limited is pleased to announce further significant results from 4 additional holes from its Summer/Fall Drill Campaign. These holes include BD2011-158, 159, 160 and 164. A table of the highlights from each hole is presented below.
| Hole | From(m) | To(m) | Length (m) | Au g/t | ||||||||
| BD2011-158 | 101 | 116 | 15 | 1.22 | ||||||||
| BD2011-158 | 349 | 373 | 24 | 1.14 | ||||||||
| BD2011-158 | 385 | 393 | 8 | 1.64 | ||||||||
| BD2011-159 | 3 | 10 | 7 | 0.42 | ||||||||
| BD2011-159 | 30 | 33 | 3 | 3.32 | ||||||||
| BD2011-159 | 281 | 290 | 9 | 3.13 | ||||||||
| BD2011-160 | 3 | 18 | 15 | 0.71 | ||||||||
| BD2011-160 | 108 | 158 | 50 | 0.70 | ||||||||
| BD2011-164 | 13 | 38 | 25 | 0.92 | ||||||||
| BD2011-164 | 114 | 147 | 33 | 0.61 | ||||||||
| BD2011-164 | 193 | 215 | 22 | 0.85 | ||||||||
| BD2011-164 | 377 | 383 | 6 | 1.47 | ||||||||
| BD2011-164 | 431 | 446 | 15 | 7.64 |
With the exception of hole BD-2011-159 which returned assays of 3.13 g/t Au over 9 metres hosted in volcanoclastics, the remainder of the mineralised drill intersections are hosted within the diorite (core widths as above). The mineralised zones have the potential for future exploitation of the project through low-cost surface mining methods followed by future mining through a potential underground operation.
“We continue to receive positive assay results from our ongoing definition drill campaign at Bellechasse-Timmins. The results not only confirm the known mineralized zones but moreover continue to extend those zones at depth and potentially on strike. There is considerable gold at Bellechasse-Timmins and the results continue to motivate us to push on further as we work towards our first resource estimate”, states Frank Candido, President, Golden Hope Mines Limited.
On September 12, 2011, Golden Hope released results from drill hole BD2011-157 which yielded a 380.8 metre core length grading 0.61 g/t Au (uncut) or 0.55 g/t (cut). For comparison purposes, hole BD2011-164 on section with previously released hole BD2011-157 yields a 435 metre core length at 0.49 g/t. The section can be viewed on the company’s web site at http://www.goldenhopemines.com/exploration/bellechase_timmins_gold/
The new laboratory results confirm widespread mineralization at the Bellechasse-Timmins Gold Deposit. It is important to note that the initial 8 holes took longer than usual to log and sample due to a particular focus being put on the veins and structures by the Golden Hope technical team at the request of SGS-Geostat for interpretation and modelling purposes. All initial holes have been oriented by the Golden Hope technical team. The drill program should deliver further assay results at a faster pace now that core orientation has been completed as sufficient data have been compiled.
SGS-Geostat is taking the appropriate steps to validate and increase the information necessary to enable a NI 43-101 resource estimation in 2012. Composite samples have been sent to SGS Lakelfield Gold Metallurgical Testing Group for total gold determination and other samples to the SGS Lakefield Advanced Mineralogy facility.
Golden Hope is also pleased to report an update on its continued drill campaign on the Bellechasse Belt in Southeastern, Quebec, Canada.
Golden Hope is also pleased to provide its shareholders with a newly taken photograph from a recent drill core (figure 1) taken by Dany Boilard, Field Manager at Golden Hope Mines Limited, which clearly shows visible gold (VG) in the NQ core (~48mm diameter) in hole BD2011-167 at approximately 370 to 380 metres depth. This hole is currently being logged and in queue for sampling and analysis.
Samples were prepared and analyzed at SGS Minerals Services of Toronto, Ontario (Don Mills laboratory). Analysis for gold was done on one half of core samples following FAI525 fire assay routine.
Quality Assurance and Quality Control (QA/QC):
SGS introduced standards and blanks in the sequence. These blanks were null and these standards were within acceptable limits (10% of expected value).
Claude Duplessis, Eng and Claude Bisaillon, Eng. are acting as qualified persons (QP) for Golden Hope in compliance with National Instrument 43-101 and have reviewed the technical contents of this press release.
James E. Tilsley, P.Eng is acting as the qualified person (QP) for Golden Hope in compliance with National Instrument 43-101 and has reviewed the technical contents of this release.
Forward-Looking Information
This news release contains certain forward-looking information as defined in applicable securities laws (referred to herein as “forward-looking statements”). Specifically, this news release contains forward-looking statements regarding the drill results being incremental to current potential. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Golden Hope’s ability to predict or control and may cause Golden Hope’s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. Golden Hope undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.
About Golden Hope Mines Limited:
Golden Hope Mines Limited is a mineral exploration company that seeks to grow shareholder value through the acquisition, exploration and development of potentially large-scale gold and base metal projects suitable for underground and/or open-pit mining. The company’s focus is in southeastern Quebec, Canada. The company’s claim blocks lie within an area that extends approximately 100 kilometres along the Appalachians of southern Quebec from near Ste-Lucie-de-Beauregard to about 16 kilometres southwest of Beauceville. The Bellechasse-Timmins gold deposit lies 5 kilometres southeast of St-Magloire within the Bellechasse Belt an approximately 18 kilometre long mineralized area. The Bellechasse-Timmins gold deposit includes the T1, T2A, T2B, Ascot/Road gold zones, and eight known parallel gold-bearing breccias in the adjoining 88 Diorite. The company is also working to develop other targets within its claim blocks including the FSG gold and base metal target, the St-Luc (Roux) target, Chute du Bras, the LG showing, Moose Cliff, and Talon. For further information on Golden Hope Mines Limited please visit www.goldenhopemines.com.
