TSX VENTURE: GNH
PINK SHEETS: GOLHF
MONTREAL,
Jan. 23, 2012 /PRNewswire/ -
Golden Hope Mines Limited (TSX VENTURE: GNH, PINK SHEETS:
GOLHF) is pleased to announce excellent gold recovery from
preliminary metallurgical testwork at its Bellechasse-Timmins gold
project in southeastern Quebec,
Canada. Gold recovery using gravity separation ranged
from 54% to an outstanding 92%, while total gold recovery ranged
from 97% to more than 99%. The test work was completed on five (5)
composite samples composited from drill core in its recent drill
program.
"We are extremely pleased with the preliminary
results. These results clearly demonstrate the excellent gold
recovery by gravity, while achieving outstanding recoveries using a
combination of gravity and cyanidation. Although these are the
first metallurgical results completed to date, we are very pleased
as we continue to build this project towards production." explains
Frank Candido, President, Golden
Hope Mines Limited.
The purpose of the test was to determine the head
grades of the various composites and compare them with the
individual assay results already announced previously. SGS Geostat
selected composite samples from five different mineralized
intersections at various depths with variable grades from drill
core that tested the T1 zone at the Bellechasse Timmins project.
The test work produced a total gold metallurgical balance that
shows calculated feed grade, tailing losses and overall gold
recovery data.
The results as reported in Table 1 below clearly
demonstrate excellent recovery of gold from the Bellechasse-Timmins
mineralized zones.
Gravity Test Results Summary
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Gravity Conc |
Recovery |
Gravity Tail |
Head |
| Sample |
Test |
K80 |
Wt. |
Assay |
Au |
Assay* |
calc. |
| |
|
µm, |
% |
Au, g/t |
% |
An, g/t |
Au, g/t |
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| Comp 1 |
G1 |
93 |
0.035 |
2710 |
84.8 |
0.17 |
1.12 |
| Comp 2 |
G2 |
67 |
0.050 |
7899 |
92.3 |
0.33 |
4.27 |
| Comp 3 |
G3 |
82 |
0.061 |
1039 |
87.6 |
0.09 |
0.73 |
| Comp 4 |
G4 |
65 |
0.066 |
764 |
83.6 |
0.10 |
0.61 |
| Comp 5 |
G5 |
67 |
0.093 |
1099 |
54.7 |
0.85 |
1.88 |
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| *calculated head from
cyanidation test |
In addition, the minimum overall gold recovery from gravity and
cyanidation as shown in Table 2 below ranges from 96.8 to
99.6%.
Cyanidation Test Results Summary
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Reagent |
Reagent |
Recovery |
Residue |
CN Feed |
O'all Au Recovery |
| Sample |
Test |
Addition, kg/t |
Consumption, kg/t |
Au |
Assay* |
calc. |
Gravity/Cyanidation |
| |
|
NaCN |
CaO |
NaCN |
CaO |
% |
Au, g/t |
Au, g/t |
% |
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| Comp 1 |
BC1 |
1.61 |
0.46 |
0.96 |
0.43 |
88.9 |
0.019 |
0.17 |
98.3 |
| Comp 2 |
BC2 |
1.82 |
0.40 |
1.28 |
0.36 |
94.9 |
0.017 |
0.33 |
99.6 |
| Comp 3 |
BC3 |
1.70 |
0.49 |
1.18 |
0.44 |
84.0 |
0.014 |
0.09 |
98.0 |
| Comp 4 |
BC4 |
2.30 |
0.30 |
1.64 |
0.26 |
91.4 |
0.009 |
0.10 |
98.6 |
| Comp 5 |
BC5 |
2.48 |
0.22 |
1.90 |
0.17 |
93.0 |
0.059 |
0.85 |
96.8 |
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| *Average of six residue
assays. |
The tests were performed under the supervision of
Lesley Hendry, project metallurgist
at SGS Lakefield.
Claude Duplessis, Eng. is an independant qualified
person as defined by National Instrument 43-101 and has
reviewed the technical contents of this press release.
James E. Tilsley,
P.Eng is a qualified person (QP) as defined by NI 43-101 for
Golden Hope 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.
Golden Hope Mines Limited
Frank Candido
: President, Director
514-750-8218
416-864-0175 (FAX)
fcandido@goldenhopemines.com
info@goldenhopemines.com
www.goldenhopemines.com
SOURCE Golden Hope Mines Limited