Global Hunter Reports Significant Rhenium Grades From 2005 and 2007 Drill Holes at Rabbit South
30 10월 2008 - 7:48AM
Marketwired
Global Hunter Corp. (TSX VENTURE: BOB) ("Global Hunter" or the
"Company") is pleased to announce partial rhenium results from 2005
and 2007 drilling in the Eastern Zone (previously described as Zone
B). The results are highlighted by 171.0 metres grading 0.061
percent molybdenum and 0.113 grams per tonne rhenium in hole
RS-D-05-110 (see table for previous hole names). Higher rhenium
grades are closely associated with higher molybdenum grades as
demonstrated by 0.541 grams per tonne rhenium with 0.30 percent
molybdenum in RS-D-07-121and 0.483 grams per tonne rhenium with
0.39 percent molybdenum in RS-D-05-114. Weighted average rhenium
grades within the molybdenum mineralization for results to date are
listed in the table below.
---------------------------------------------------------------------------
Amend-
Prev- ed
ious Drill
Drill Hole Len-
Hole Name Azim- From To gth Mo Re
Name (i) Northing Easting uth Dip (m) (m) (m) (%) (g/t)
---------------------------------------------------------------------------
RL05-01 RS-D- 5,605,841.9 666,637.9 0 45 19.5 141.5 122.0 0.033 Pend-
ing 05-108 degr- ing
ees
---------------------------------------------------------------------------
RL05-02 RS-D- 5,605848.2 666,638.0 180 50 17.5 249.0 233.0 0.037 Pend-
05-109 degr- ing
(1) ees
---------------------------------------------------------------------------
Including 214.5 249.0 34.5 0.023 0.011
---------------------------------------------------------------------------
RL05-03 RS-D- 5,605,837.6 666,474.3 0 50 15.0 310.3 295.3 0.041 0.077
05-110 degr-
ees
---------------------------------------------------------------------------
Including 58.5 229.5 171.0 0.061 0.113
---------------------------------------------------------------------------
RL05-04 RS-D- 5,605,745.7 666,642.1 180 50 9.0 199.5 190.5 0.029 0.035
05-111 degr-
(1) ees
---------------------------------------------------------------------------
Including(1) 46.5 139.5 93 0.043 0.041
---------------------------------------------------------------------------
RL05-05 RS-D- 5,606,031.8 667,206.3 0 50 84.0 102.0 18.0 0.033 0.042
05-112 degr-
(1) ees
---------------------------------------------------------------------------
RL05-06 RS-D- 5,606,007.2 667,056.7 0 50 10.7 180.0 169.3 0.046 Pend-
05-113 degr- ing
(1) ees
---------------------------------------------------------------------------
Including(1) 10.7 22.5 11.8 0.036 0.066
---------------------------------------------------------------------------
RL05-07 RS-D- 5,606,007.2 667,056.7 0 90 42.0 135.0 93.0 0.055 0.082
05-114 degr-
ees
---------------------------------------------------------------------------
RL07-01 RS-D- 5,606,254.3 666,983.9 0 90 6.0 213.0 207.0 0.030 0.046
07-119 degr-
ees
---------------------------------------------------------------------------
RL07-02 RS-D- 5,606,243.9 666,750.8 0 90 32.6 254.4 221.8 0.031 Pend-
07-120 degr- ing
ees
---------------------------------------------------------------------------
RL07-03 RS-D- 5,606,247.6 666,882.6 0 90 9.0 230.7 221.7 0.034 0.061
07-121 degr-
ees
---------------------------------------------------------------------------
RL07-04 RS-D- 5,606,405.8 666,702.5 0 90 26.0 330.8 304.8 0.030 0.051
07-122 degr-
ees
---------------------------------------------------------------------------
(i) Drill holes RS-D-05-115 to RS-D-05-118 drilled geochemical anomaly to
the west of the higher grade Eastern Zone
(1) Partial results
The Company chose to analyze the 2005 and 2007 pulps for rhenium
after its initial results from the 2008 drill program contained
significant rhenium content. All samples with 0.01 percent
molybdenum have been submitted to the laboratory for rhenium
analysis. To date the Company has received results from 952
samples, or 75 percent, of the 1,263 samples submitted. Samples are
still pending but the results received are statistically sufficient
to establish a close relation between molybdenum and rhenium
grades. Pulps or rejects for rhenium analysis are only available
from the 2005 and 2007 drill programs.
Rod Husband, president and director of Global Hunter, said, "We
are pleased with the continued positive Rhenium results from the
Rabbit South property as it further supports our belief that Rabbit
South has the potential to become an economic molybdenum deposit.
It is encouraging to confirm consistent rhenium grades in the 2005
and 2007 holes from the higher grade Eastern Zone. Establishing a
substantial rhenium analytical database will assist us in
evaluating the economic impact rhenium can have on the
project."
The company has completed drilling 14 holes for 3,709 metres in
the higher molybdenum grade Eastern Zone on the property in 2008.
Logging and sampling of the core is currently underway. To date,
samples from 9 of the holes, or more than 55 percent of the total,
have been submitted to EcoTech Laboratory Ltd. in Kamloops for
molybdenum and rhenium analysis. Results are expected later this
month and will be released following receipt by the Company.
ABOUT RHENIUM
Rhenium is found together with other metals and range from 0.002
to 0.2 percent in molybdenum and is commercially only recovered as
a by-product from molybdenite concentrates. It is a rare and
valuable metal that currently trades at approximately US$12,100 per
kilogram and is used for catalysts (in unleaded gasoline),
electronic devices, thermocouples, temperature controls, heating
elements, rhenium-molybdenum alloys and coatings.
A summary of the sampling handling, QA/QC program, sample
preparation and analytical methods are described in detail in the
Company's September 17, 2008 news release.
Global Hunter's Exploration Manager, Tor Bruland, M. Sc., P.Geo.
(B.C.), designed the drilling program, and has reviewed and
approved the technical information in this news release. The
diamond drilling is supervised by project manager, Donald G. Allen,
M.A.Sc., P. Eng. (B.C.). Both are the Qualified Persons as defined
by National Instrument 43-101.
ABOUT RABBIT SOUTH
The property consists of 1,900 hectares located near Kamloops,
British Columbia, 30 kilometers North East of the Highland Valley
copper mine, and is accessible year round by highways and logging
roads.
The molybdenum mineralization at Roper Lake was discovered in
1959 by Kennco Exploration (Western) Ltd. and was first drilled by
Dominic Lake Mining Co. Ltd. in 1967 before being explored further
between 1979 and 1981 by Cominco Ltd. Global Hunter optioned the
property in January 2004 and has since completed three drill
programs in 2005, 2007 and 2008.
On Behalf of the Board of Directors GLOBAL HUNTER CORP.
Rod Husband, P.Geo. (B.C.), President
This news release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and
conditions and therefore, involve inherent risks and uncertainties.
Actual results may differ materially from those currently
anticipated in such statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Global Hunter Corp. Investor Relations (604) 681-4653
or 1-866-282-8398 (604) 683-6557 (FAX) Email: info@globalhunter.ca
Website: www.globalhunter.ca
Global Hunter Corp. (TSXV:BOB)
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