Hunter Bay Minerals Announces Commencement of Drilling at Sela Creek
LONDON, UNITED KINGDOM -- (Marketwire) -- 04/25/12 -- Hunter Bay Minerals plc ("Hunter Bay") (TSX VENTURE: HBY)(OTCQX: HTBNF) is pleased to announce that it has commenced diamond drilling at Sela Creek.
The first holes will target the near-surface depth extension of mineralization at Jons Pit where artisanal miners have mined saprolite in shallow open pits over a strike length of 1.5 kilometers (Figures 1 and 2). Angled diamond holes will be drilled off 'fence-lines' spaced 80 meters apart to a maximum vertical depth of 200 metres.
Drilling is being conducted by SureCore Portable Diamond Drilling Ltd (SureCore) using a man-portable, three engine rig. SureCore is a Canadian company that has operated exclusively in Suriname for over 5 years and worked extensively for IAMGold, Newmont and various junior exploration companies in Suriname.
Drill core will be subject to geotechnical and geological logging and sampling at Hunter Bay's core handling and camp facility in Sela Creek. Samples will be transported by river to a local airstrip where they will be dispatched to The Assay Office in Paramaribo for preparation and fire assay.
Hunter Bay's CEO, Dr Chris Wilson comments, "We are delighted to have mobilized the rig faster than anticipated and to be drilling two weeks ahead of our planned start date. We are also very happy to be working with SureCore given their very significant in-country operational experience."
Andrew Tunningley, MAusIMM (CP), a director of Hunter Bay, is a Qualified Person as defined in National instrument 43-101 - Standards of Disclosure for Mineral Projects is responsible for the work program on the Sela Creek Project. Mr. Tunningley has supervised and approved all technical information contained in this news release.
About Hunter Bay
Hunter Bay is engaged in the acquisition, exploration and development of mineral resource properties located in South America and Canada. Hunter Bay's lead project is the Sela Creek Project, located in Suriname, which Hunter Bay has an option to acquire up to an eight percent (80%) interest. Hunter Bay also owns a one-hundred percent (100%) interest in the Great Bear Lake Properties located in the eastern side of Great Bear Lake NWT and has a thirty percent (30%) interest in the net profits of the Fortuna Project located approximately 400 kilometers southeast of Quito, 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 the results of Hunter Bay's planned drill program at 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 from 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.
To view Figures 1 and 2, click on the following link: http://media3.marketwire.com/docs/h425m.pdf
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Contacts:
Hunter Bay Minerals plc
Christopher Wilson
CEO and President
(+44) 207-127-9125