Homestake Expands Claim Holdings to 68,207 Hectares at Kinskuch and Homestake Ridge

Homestake Resource Corporation (TSX VENTURE:HSR)(FRANKFURT:B6I) ("Homestake")
reported today that it has staked an additional 2290 hectares in two claim
groups at the Kinskuch property, and an additional 1027 hectares in two claims
at the Homestake Ridge property, expanding the Company's property position
within the Kitsault Mineral District in northwest British Columbia to 68,207
hectares.


The Homestake Ridge property now totals 3,617 hectares and the Kinskuch project
now totals 64,590 hectares. Exploration of the new Kinskuch claims will be
conducted within the context of a larger 2013 exploration program, the planning
for which to be finalized in the coming weeks.


Two of the new MTO claims, fall within the area of influence around the
Homestake Ridge property and have been conveyed to Agnico Eagle Mines Ltd.
("Agnico Eagle"), which currently operates the Homestake Ridge project under an
August 2012 option agreement where it has the option to earn a 65% interest in
the claims by spending $25.3 million on exploration and development work.


The new MTO claims include two covering extensions of a diorite porphyry
intrusion within the Dak River basin, and several claims located to the west of
the historic Dolly Varden property and to the south of the Company's Homestake
Ridge property. 


The Dak River claims cover the north and south extensions of the FH property,
currently held by a third party, which was explored with surface sampling and
drilling by Durango Capital Corp in 2007. Copper-gold mineralization at the FH
property is associated with a +5-kilometre-long diorite porphyry intrusion of
possible Early Jurassic age. Intrusions of similar age and composition host, or
are spatially associated with, major mineral deposits throughout the region,
including the Company's Homestake Ridge deposit, the Silbak-Premier deposit
(Ascot Resources Ltd.), the Red Mountain Deposit (Banks Island Gold Ltd.), and
the Brucejack Lake Project (Pretium Resources Inc.).


The Kitsault Mineral District is an approximately 40-kilometer-long mineral belt
underlain by prospective Stuhini and Hazelton Group stratigraphy located to the
south of the Cambria Ice Fields in northwestern British Columbia. Major deposits
in the district include the Kitsault Molybdenum project (Avanti Mining Inc.),
the Dolly Varden project (Dolly Varden Silver Corp./Hecla Mining Ltd.) and the
Homestake Ridge project (Homestake Resource Corp./Agnico Eagle). Historic
production in the district dates back to the early 1900's. 


Approximately $6.5 million was spent exploring for precious metals in the
Kitsault Mineral District during 2012 including: $2.36 million spent at the
Homestake Ridge Project by Homestake/Agnico Eagle; $0.14 million spent by
Homestake at the Kinskuch project and $4.0 million reportedly spent by Dolly
Varden Silver/Hecla at the Dolly Varden project. To maintain the option on the
Homestake Ridge project, Agnico Eagle is required to complete $3.5 million in
expenditures on the project in 2013. Homestake is planning a minimum $0.5
million exploration budget for the Kinskuch project in 2013.


Note: To view the map associated with this release, please click the following
link: http://media3.marketwire.com/docs/hsr0515.pdf.


About Homestake Resource Corporation

Homestake owns a 100 percent interest in the Homestake Ridge project, located in
the Kitsault Mineral district in northwestern British Columbia, subject to
various royalty interests held by vendors. The project is being advanced as a
potential high-grade underground mining operation. At an $85 NSR cut-off value
and based on drilling completed through 2012, the project contains an estimated
NI 43-101 compliant Indicated Resource of 124,000oz gold and 939,000oz silver
(141,000oz AuEq @ 7.3g/t AuEq grade) plus an Inferred Resource of 911,000oz gold
and 20,366,000oz silver (1,225,785oz AuEq @ 5.6g/t AuEq grade) in three
deposits(1). Visit the Company website at www.homestakeresource.com to see how
the Homestake Ridge resource estimate compares to gold deposits worldwide, as
ranked by Natural Resource Holdings (June 2012).


To date, 251 holes were drilled for a total of 70,533 metres, and multiple
exploration targets remain to be tested on the large 3,617 -hectare property.
Agnico Eagle Mines Limited has assumed project management since January 2013
under an option agreement signed in August 2012 to fund exploration and
development costs of $25.3 million over a 5-year period to earn a 65% interest
in the property. 


Homestake holds an option to acquire a 100% interest in the 645-square-kilometre
Kinskuch project, located adjacent to, and to the southeast of, the Homestake
Ridge project. Diamond drilling along the Illiance trend on the Kinskuch
property during 2011 was successful in intersecting high-grade silver/lead/zinc
VMS mineralization in three of four holes. Surface soil and rock-chip sampling
along the trend in 2012 extended mineralization to a 4.0-kilometre
strike-length; Homestake will be aggressively exploring this trend in 2013.


Homestake owns a 10.19 percent equity interest in Bravada Gold Corporation (TSX
VENTURE:BVA) which is exploring and developing numerous gold/silver projects in
several of Nevada's prolific gold belts. At the advance-stage Wind Mountain
project, BVA has received a positive PEA from an independent engineering company
for an open-pit/heap-leach operation. 


Rob Macdonald (P.Geo.) is the Vice-President of Exploration for Homestake and is
the Qualified Person responsible for reviewing the technical results in this
release. 


On behalf of the Board of Directors,

Joseph A. Kizis, Jr., Director, President, Homestake Resource Corporation



1.  The current estimate was prepared by Roscoe Postle Associates Inc.
    (RPA). Mineral Resources utilize three separate block models constrained
    by 3D wireframes of the mineralized zones. The block models are
    comprised of an array of blocks measuring 5 m x 5 m x 5 m, with grades
    for Au, Ag, Cu, AuEq and NSR values interpolated using ID3 weighting.
    The models identified an indicated resource of 604,000 tonnes averaging
    6.4g/t Au, 48.3g/t Ag and 0.18% Cu and a cumulative inferred resource of
    6,765,000 tonnes averaging 4.2g/t Au, 93.6g/t Ag, 0.11% Cu. David Rennie
    (P. Eng.) is the Principal Geologist for Roscoe Postle Associates Inc.
    and is the Independent Qualified Person responsible for preparation and
    review of the Mineral Resource Estimate.



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. These statements are based on a number of assumptions, including,
but not limited to, assumptions regarding general economic conditions, interest
rates, commodity markets, regulatory and governmental approvals for the
company's projects, and the availability of financing for the company's
development projects on reasonable terms. Factors that could cause actual
results to differ materially from those in forward looking statements include
market prices, exploitation and exploration successes, the timing and receipt of
government and regulatory approvals, and continued availability of capital and
financing and general economic, market or business conditions. Homestake
Resource Corp. does not assume any obligation to update or revise its
forward-looking statements, whether as a result of new information, future
events or otherwise, except to the extent required by applicable law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Homestake Resource Corporation
Liana Shahinian
1-888-456-1112 or 604-641-2773
liana@mnxltd.com
www.homestakeresource.com
Homestake Resource Corporation (TSXV:HSR)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024