Homestake Resource Corporation: Drilling to Commence in Early July
at Homestake Ridge
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 4, 2014) -
Homestake Resource Corporation (TSX-VENTURE:HSR)(FRANKFURT:B6IH)
("Homestake" or "the Company") has received notice from Agnico
Eagle Mines Limited ("Agnico Eagle") of its plans for a $3 million
exploration program in 2014 at the Company's Homestake Ridge
property in northwestern British Columbia. The program is expected
to include +7,500 meters of core drilling, with camp construction
to begin the second week in June and drilling to commence in early
July.
The 2014 exploration program will start on a potential new
mineralized zone called the Slide target, first identified in 2013
and located southeast of the Homestake Silver deposit (see news
release NR-10-13, November 26, 2013). Drill holes of the 2014
program will test areas on strike to the southeast and down dip of
hole HR13-253, which as reported in NR-10-13 contains a 18.6 metre
interval averaging 101g/t silver, including a 0.5 metre interval
averaging 1,675g/t silver from 364.4 to 383.0 metres down hole (the
true thickness has not been determined yet).
Further drilling is also anticipated to test lateral extensions
of the South Reef deposit, potential depth extensions of the Main
Homestake and Homestake Silver deposits and up to two holes to test
"Eskay-equivalent" stratigraphy in the upper Hazelton Group exposed
to the east and south of the Homestake Silver deposit.
To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/hsr0604fig1.pdf.
Vice President of Exploration Rob Macdonald commented, "The
high-grade silver intercept in hole -253 is very important. Of the
262 holes drilled at Homestake Ridge since 2003, only 30 holes
contain intervals greater than 500g/t Ag. Twenty eight of these
holes occur within the Main Homestake or Homestake Silver deposits,
one hole lies between these two deposits, and the remaining hole is
HS13-253. Geochemistry from the few existing nearby drill holes
also suggests that hole -253 is on the edge of the next high-grade
gold/silver deposit at Homestake Ridge. This type of mineralization
typically forms as discrete mineral deposits, often along important
structures, that together can form multi-million ounce mining
camps."
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 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 (see Footnote 1 for assumptions,
methods, and grade and tonnage distribution). 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, 262 holes were drilled for a total of 74,973 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 to
fund exploration and development costs of $25.3 million by December
31, 2017 to earn a 65% interest in the property.
Kinskuch Project
Overview
In addition, Homestake holds an option to acquire a 100%
interest in the 625 square kilometre Kinskuch project. Kinskuch is
located within the Kitsault Mineral District and is adjacent and to
the southeast of the Homestake Ridge project, but is not subject to
the agreement with Agnico Eagle.
The Kinskuch project offers numerous quality targets comparable
to known mines and world-class mineral deposits throughout the
region and forms a large part of an emerging mineral district where
Agnico Eagle and Helca Mining Ltd. are currently active through
option or company financing.
Homestake Resources has subdivided the property into four
prospect areas and is seeking funding partners to test these
targets and develop additional targets on this well-mineralized and
extensive land package.
Currently two targets are ready and permitted for drilling
(Esperanza and Illiance) and surface programs have been developed
to advance targets on several other occurrences:
1) The Esperanza Package: includes the "Eskay-type", drill-ready
Esperanza target where surface and historic underground sampling
has identified bonanza-grade (+100g/t Au and +1000g/t Ag)
sediment-hosted quartz veins, plus the Kitgold target which
features Homestake Ridge - style mineralization located just south
of the Dolly Varden Silver Property;
2) The FH Package: includes a Cu/Au PPY system featuring +6
kilometre Cu-Au in soil/rock geochemical anomaly located along a
regionally significant Triassic-Jurassic contact which has been
tested with only four modern drill holes; and
3) The Illiance Package: includes a +4 kilomete-long drill-ready
Ag/Zn/Pb VMS system, analogous to the nearby Homestake Ridge and
Dolly Varden deposits, where drilling in 2011 identified high-grade
Ag-polymetallic sulphide mineralization; plus an "Eskay Creek" - style
exploration play.
Homestake Ridge and Kinskuch properties are within the Kitsault
Mineral District, which is one of several major mineral belts of
northwestern Stikinia that includes the prolific mid-Jurassic Eskay
Rift and KSM-Brucejack district.
To view Figure 2, please visit the following link:
http://media3.marketwire.com/docs/hsr0604fig2.pdf.
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. Mineral
Resources were constrained using a 2g/t AuEq grade shell and CIM
definitions were followed for Mineral Resources. 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. Mineral Resources are estimated using an
average long-term gold price of US$1,500 per ounce Au, US$27 per
ounce Ag, and US$3.50 per pound Cu, with an exchange rate of
C$1.00=US$1.00. NSR and Gold equivalence were calculated using Au,
Ag and Cu metallurgical recoveries of 92% Au, 88% Ag and 88% Cu in
blocks where Cu%>0.1%; and where calculated using just Au and Ag
recoveries in blocks with <0.1% 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. |
|
|
|
Homestake Resource Corp is unaware of any legal, political,
environmental or other risks that could materially affect the
potential development of the mineral resource. |
Robert Macdonald, MSc., PGeo., is Homestake's Vice President of
Exploration and is the Qualified Person responsible for the
supervision and preparation of the technical information in this
disclosure.
On behalf of the Board of Directors,
Joseph Anthony Kizis, Jr., President & Director,
Homestake Resource Corporation
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.
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
Corporation 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.
Homestake Resource CorporationJoseph Anthony Kizis, Jr.President
&
Director604-684-9384info@mnxltd.comwww.homestakeresource.com
Homestake Resource Corporation (TSXV:HSR)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Homestake Resource Corporation (TSXV:HSR)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024