Hunter Bay Completes Sela Creek Airborne Geophysical Survey
LONDON, UNITED KINGDOM -- (Marketwire) -- 06/07/11 -- Hunter Bay Minerals plc ('Hunter Bay') (TSX VENTURE: HBY) is pleased to announce the completion of its airborne geophysical survey at its Sela Creek Project, Suriname. The 4,986 kilometre aeromagnetic, radiometric and XDS VLF-EM survey was conducted by Terraquest Ltd. and indicates that areas of known mineralization are coincident with magnetic and radiometric anomalism. Using this geophysical signature and first pass field work, Hunter Bay has identified three high priority targets for immediate follow up work: Central Ridge, Jons Pit-Texas trend and Eastern Anomaly.
Aeromagnetic data (Figure 1) indicates that the broad area containing the three high priority targets occurs within a regional scale, rhombic dilational structure approximately 20 kilometres long and up to 8 kilometres wide, bounded to the north and south by west-northwest trending shear zones. Preliminary interpretation, combined with field observations from limited outcrop, suggests that the mid-range subdued magnetic response within the rhombic structure is associated with deeply weathered metasedimentary rocks intruded by dioritic, granodioritic and tonalitic intrusions.
Many of the known saprolitic workings occur either at the inferred contacts between metasedimentary rocks and intrusive bodies or cluster along a 5 kilometre, northwest trending structure called the Jons Pit-Texas trend. These observations highlight the importance of intrusion-related targets at Sela Creek and the structural controls on mineralization. In detail mineralization is spatially related to localized magnetic lows and coincident high potassium radiometric anomalies, which are interpreted to represent areas of hydrothermal alteration (Figure 2).
Central Ridge is a 2 kilometre long, east-west trending magnetic low bounded by moderate intensity magnetic highs, located immediately northwest of the Jons Pit-Texas trend. This magnetic anomaly coincides with a 5 kilometre long, east-west trending ridge which forms the watershed between several prominent north and south draining creek systems. These creeks have been extensively mined for alluvial gold. Central Ridge represents a high priority target for follow-up soil sampling and mapping.
Eastern Anomaly is a new high priority target in the eastern part of the licence. Eastern Anomaly comprises a 2 kilometre long, northeast trending magnetic low and coincident potassium high, which is a similar geophysical signature to that observed at the Jons Pit-Texas trend.
In conjunction with the Terraquest airborne survey, Hunter Bay also conducted aerial reconnaissance using a Cessna light aircraft which has provided a better understanding of the spatial extent of mineralization defined by artisenal workings in saprolite. In particular, shear-hosted and structurally-controlled mineralization is more extensive than previously mapped and in some places artisenal workings define up to 3 sub-parallel mineralized zones with a combined surface expression of up to 100 metres wide and over 1 kilometre long (Figure 3). Collectively artisenal workings define a broadly northwest trending corridor approximately 5 kilometres long and 1.5 kilometres wide (Jons Pit-Texas trend). Small areas of artisenal working are also present in the north and west of the licence and represent new showings which had not been previously identified.
Hunter Bay is presently completing additional processing and more detailed interpretation of the geophysical data in order to further identify and prioritize geophysical targets. An extensive soil sampling and follow-up mapping program is to commence in July 2011. Data collected during this stage of the program will be used to plan a reconnaissance drilling program.
Andrew Tunningley, MAusIMM, a director of Hunter Bay, is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects and is responsible for the work program on the Sela Creek Project. Mr. Tunningley has supervised and approved all technical information in this news release.
To view the three images associated with this release, please click the following link: http://media3.marketwire.com/docs/HBYmaps.pdf.
About Hunter Bay
Hunter Bay is engaged in the acquisition, exploration and development of mineral resource properties located in Canada and South America. Hunter Bay currently owns a one-hundred percent (100%) interest in the Great Bear Lake Properties located in the eastern side of Great Bear Lake, NWT, has an option to acquire up to an eighty percent (80%) interest in the Sela Creek Project located in Suriname, and has an option to acquire a forty five percent (45%) interest in the net profits of the Fortuna Project located in the Nambija Gold District, Ecuador.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Hunter Bay cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hunter Bay's control. Such factors include, among other things: risks and uncertainties relating to Hunter Bay's exploration program on the Sela Creek Project, Hunter Bay's limited operating history; the need to comply with environmental and governmental regulations; and potential defects in title to Hunter Bay's properties. Accordingly, actual and future events, conditions and results may differ materially form the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Hunter Bay undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Hunter Bay Minerals plc
Christopher Wilson
CEO and President
( 44) 203-178-2101
( 44) 207-724-2734 (FAX)