Hunter Bay Minerals Reports Drilling Results Including 14.1 Meters Grading 1.48 g/t Gold in SKD006 at Sela Creek
LONDON, UNITED KINGDOM -- (Marketwire) -- 06/08/12 -- Hunter Bay Minerals plc ("Hunter Bay") (TSX VENTURE: HBY)(OTCQX: HTBNF) is pleased to announce that it has received final assay results for three diamond drill holes completed at the Jons Pit prospect, Sela Creek, Suriname. The three holes (SKD003, SKD005 and SKD006) were drilled using HQ diameter rods through saprolite and NQ diameter rods through hard rock as a fence line (Fence 002) beneath an artisanal open pit at the northwestern end of a 1.6 km long Jons Pit trend, and 80 metres to the southeast along strike from Fence 001 (Figure 1). This trend comprises a series of sub-parallel linear artisanal open pits that exploit the saprolitic parts of mineralized structures within the shear zone.
Table 1 discloses all mineralized intervals intercepted in holes SKD003, SKD005 and SKD006. Significant results from the drilling are shown in section on Figure 2 and are summarized below:
-- 12 meters @ 1.45 g/t gold (from 76 to 88 m, SKD003), including
-- 1 meter @ 6.40 g/t gold (from 82 to 83 m)
-- 8 meters @ 1.03 g/t gold (from 86 to 94 m, SKD005), including
-- 1 meter @ 3.02 g/t gold (from 86 to 87 m), and
-- 1 meters @ 2.64 g/t gold (from 88 to 89 m)
-- 14.1 meters @ 1.48 g/t gold (from 122 to 136.1 m, SKD006), including
-- 3.6 meter @ 3.32 g/t gold (from 122 to 125.6 m)
Results from Fence 2 confirm the down dip extension of gold mineralization identified in channel samples taken within limonitic zones at the base of an artisanal open pit, as well as confirming the along strike continuity of mineralization from Fence 001.
Results from Fence 002 are considered significant as they show the mineralized zone to comprise at least three sub-parallel mineralized structures over a total width of over 90 metres. Furthermore, hole SKD006 ended in mineralization which indicates a fourth, previously unrecognized structure exists. Hole SKD006 had to be abandoned due to collapsing ground at the contact between saprolite and hard rock.
Andrew Tunningley, Hunter Bays Chief Geologist, comments, 'Results from Fence 002 indicate that the mineralized zone at Jons Pit is continuous along strike and at depth, with mineralization occurring in the form of sub-parallel, sub-vertical zones of sheeted quartz veins hosted in silicified and pyrite-chlorite altered schist. This gives us the confidence to continue defining the mineralized structure at Jons Pit Central."
Hunter Bay have now commenced drilling at Jons Pit Central, located 400 meters southeast from Jons Pit and inferred to represent an along strike continuation of the mineralized trend. Four holes will be drilled here initially, before relocating the drill rig to the Cambior prospect. Currently Hunter Bay has completed 1414.5 meters of the planned 5000 meter drill program.
Assay Procedure. Sample preparation and gold fire assay was carried out by The Assay Office (Suriname), Paramaribo, Suriname. The laboratory is not certified. The Assay Office includes routine Canadian Certified Reference Materials (CCRM), in-house standards and blank samples with each sample submission. Hunter Bay inserts its own routine QAQC samples, including gold certified reference material and blank material which are routinely checked. Hunter Bay ensures that chain-of-custody is maintained at all time from point of collection to delivery to the assay laboratory.
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.
To view Figures 1 and 2, click on the following link: http://media3.marketwire.com/docs/h68c.pdf
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.
Table 1: Summary of holes SKD003, SKD005 and SKD006. Following routine
RQD logging of core prior to geological logging and sampling, no
recovery issues are believed to materially impact the accuracy of
these results.
Estimated
True
From To Interval Width Gold
Hole ID (m) (m) (m) (m) (g/t)
----------------------------------------------------------------------
SKD003 40.00 54.00 14.00 6.50 0.99
-------------------------------------------------------------
76.00 88.00 12.00 6.00 1.45
including 82.00 83.00 1.00 0.60 6.40
-------------------------------------------------------------
148.00 158.00 10.00 5.20 0.53
-------------------------------------------------------------
166.00 188.00 22.00 14.50 0.66
-------------------------------------------------------------
197.00 202.00 5.00 3.00 0.33
----------------------------------------------------------------------
SKD005 48.00 52.00 4.00 2.50 0.57
-------------------------------------------------------------
78.00 81.00 3.00 2.00 0.64
-------------------------------------------------------------
86.00 94.00 8.00 5.20 1.03
including 86.00 87.00 1.00 0.70 3.02
and 88.00 89.00 1.00 0.70 2.64
----------------------------------------------------------------------
SKD006 67.20 76.00 8.80 5.50 0.57
-------------------------------------------------------------
81.00 99.40 18.40 11.20 0.64
-------------------------------------------------------------
122.00 136.10 14.10 8.80 1.45
including 122.00 125.60 3.60 2.20 3.32
-------------------------------------------------------------
159.00 168.00 9.00 6.50 0.53
-------------------------------------------------------------
191.00 201.00 10.00 7.20 0.93
including 193.00 195.00 2.00 1.40 2.91
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Contacts:
Hunter Bay Minerals plc
Christopher Wilson
CEO and President
(+44) 207-127-9125