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TORONTO, ONTARIO--(CCNMatthews - Nov. 23, 2005) - High River Gold Mines Ltd. ("High River" or the "Company") (TSX:HRG) reports today the first assay results from its ongoing 33,500 m step-out and definition drilling programme at the Bissa Project in Burkina Faso. The drill results confirm the potential to build a significant resource base sufficient to support a mining operation.
Highlights of the programme include:
- Mineralized area expanded at Bissa Southwest
- Numerous mineralized zones discovered along the Bissa-Gonglou deformation corridor
- Most mineralized zones remain open in all directions
- Economic widths and grades intersected at Bissa Southwest, Bissa-Gonglou corridor and Bissa deposit south extension
An exploration programme, consisting of 10,500 m core (DDH), 17,000 m reverse circulation (RC), and 6,000 m rotary air blast (RAB) drilling, and 3,275 m of trenching, started in mid-September. After completion of the drilling campaign, the Company will commission a new independent resource estimate for the project, which is expected to be completed by the end of the first quarter of 2006.
Drilling activities are focusing on the Bissa Hill south extension, Bissa Southwest, and the prospective Bissa-Gonglou corridor, all located within the Sabce shear zone on the contiguous Bissa group permits covering 1,000 sq km. The Bissa-Gonglou corridor extends for 6.7 km to the southwest of the Bissa Hill deposit, which contains a measured and indicated resource of approximately 150,000 ounces grading 3.3 g/t gold over a 900 m strike length (1). Further work by Jilbey Gold Exploration Ltd. ("Jilbey") in the first half of 2005 extended the Bissa Hill mineralization 1.4 km to the southwest, discovered gold mineralization at Bissa Southwest and intersected gold values along the Bissa-Gonglou corridor. Following the acquisition of Jilbey in September, High River initiated the current drilling campaign.
Conclusions from a recent compilation of historical exploration data indicated that the Bissa-Gonglou area and five other major areas of gold mineralization, all located in the Bissa group permits, have the potential to host multi-million ounce deposits and develop into a significant gold mining district (refer to press release November 10, 2005).
High River Exploration Programme Highlights
Bissa Southwest
The Bissa Southwest area is located 700 m southwest of the Bissa Hill deposit. High River completed seven diamond drill holes (1,196 m), 12 RC holes (1,413 m) and four trenches (211 m). Notable results are reported in the table below (assays are pending for RC hole ZBR-143 and trench 9057(N)). Previously, Jilbey had drilled a total of 37 holes (3,850 m) in the Bissa Southwest area, outlining three gold mineralized zones (Zones 1, 2 and 3).
Current drill results have outlined two additional zones (Zones 0 and 4) of mineralization and have extended the previously known mineralized zones to depth. The five subparallel zones defined to date, 100 to 150 m apart, trend northeasterly dipping 30 to 40 degrees to the northwest. Geological interpretation of the data indicates that gold mineralization is localized at the hinge zones of parasitic folds (Zones 0 to 4) forming a moderately northeasterly plunging syncline. To date, all zones remain open down-plunge to the northeast and have been drilled to depths ranging from 34 m at Zone 0 to depths of 140 m at Zone 2. Drilling is continuing on all zones.
Gold mineralization is closely associated with pyrite in altered argillites, and occasionally in siltstones and the footwall massive sandstone. Oxidation occurs to a depth of between 50 and 75 m.
Bissa Southwest Highlights
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Hole No. From (m) To (m) Interval (m) Gold (g/t)
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Zone 1 RC ZBR-082 57 68 11 2.53
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71 75 4 4.16
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104 125 21 3.81
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RC ZBR-123 99 107 8 1.69
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DDH ZK05-032 106.85 122.35 15.5 2.12
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126 136 10 1.11
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DDH ZK05-033 135 146 11 5.73
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170 173.8 3.8 7.98
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DDH ZK05-040 111.5 119 7.5 1.7
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Zone 2 RC ZBR-083 7 19 12 4.79
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26 40 14 1.56
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RC ZBR-137 13 25 12 7.25
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38 43 5 3.61
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DDH ZK05-034 98.8 112 13.2 4.24
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116 123.75 7.75 2.25
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DDH ZK05-035 111.45 115 3.55 3.19
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119 127 8 2.79
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136 142 6 2.09
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DDH ZK05-036 113 125 12 5.98
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160.75 163 2.25 6.54
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Zone 3 RC ZBR-084 13 19 6 2.72
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42 53 11 1.42
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90 102 12 1.22
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RC ZBR-126 21 25 4 3.39
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37 53 16 2.63
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RC ZBR-138 83 94 11 1.11
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DDH ZK-041 23.2 35 11.8 2.52
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71 77.4 6.4 1.59
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83 100 17 1.53
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Zone 4 RC ZBR-139 0 51 51 0.98
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81 100 19 1.07
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RC ZBR-142 44 63 19 0.94
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Trench 9197E 0 12.8 12.8 0.82
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Bissa-Gonglou Corridor
High River completed 90 RC holes (10,810 m), 8 diamond drill holes (1,265 m), 125 RAB holes (5,751 m), and 2 trenches (218 m) in Zones 51 to 55 of the Bissa-Gonglou corridor, located immediately southwest of Bissa Southwest and the Bissa Hill deposit south extension. Previous work by Jilbey included extensive RAB drilling (16 fences along a 3.4 km strike length for a total of 20,029 m) and 17 RC holes (1,353 m). Exploration drilling by High River successfully extended the previously outlined gold mineralization and encountered significant new gold intersections in three zones (Zones 51, 52 and 55).
Zones 51, 52, 53 and 55 contain a series of subparallel gold zones hosted by mafic schists. Gold is found in quartz veins with associated alteration (silica, iron carbonate and pyrite with enveloping sericitization) in areas of strong deformation. The dip of the gold zones is subvertical to north and locally south.
Zone 51
Zone 51 is located approximately 330 m east of the Gonglou artisanal mining site. Drilling by Jilbey in 2005 returned several gold intersections averaging between 1 and 6 g/t gold over 3 to 17 m.
High River completed 58 RC holes (6,891 m), 4 diamond drill holes (569 m), 69 RAB holes (3,176 m), and 1 trench (98 m) over a strike length of 2.4 km. Core and RC drilling were carried out at 80 m intervals to a maximum depth of 110 m between sections 6060E and 6300E on the western portion and between sections 7100E and 8460E on the eastern portion of Zone 51. The intervening area (6300E to 7100E) was tested by four fences of RAB drilling, which returned anomalous gold values.
In the western portion of Zone 51, drill results have defined at least six subvertical, parallel to subparallel zones of gold mineralization over a strike length of approximately 320 m and a width of 120 m. Significant gold intersections include:
- 9 m averaging 8.67 g/t (RC ZBR-151)
- 5 m averaging 9.67 g/t (RC ZBR-146)
In the eastern portion of Zone 51, at least 10 subvertical, parallel to subparallel zones of gold mineralization were outlined over a strike length of approximately 1.4 km and a width of 150 m. Significant gold assays include:
- 9.5 m averaging 7.4 g/t (trench TR-8220E oblique to the structure)
- 7 m averaging 9.14 g/t (RC ZBR-096)
- 15 m averaging 5.72 g/t (RC ZBR-102)
- 12.7 m averaging 3.87 g/t (DDH ZK05-028)
Mineralization is open along strike and at depth. Core drilling and trenching is in progress to define the zones and obtain a better understanding of the structural controls.
Zone 52
Zone 52 is located approximately 150 m south of Zone 55. High River completed 14 RC holes (1,875 m) and 1 trench (120 m) on Zone 52 over a distance of 750 m. Previous limited drilling by Jilbey (6 RC holes; 538 m) encountered several gold intersections: 0.87 g/t gold over 40 m (RC ZBR-068) in the western portion and 1.46 g/t gold over 13 m (RC ZBR-065) in the eastern portion of Zone 52.
High River's drill results successfully outlined at least six subvertical, parallel to subparallel zones of gold mineralization over a strike length of approximately 800 m and a width of 150 m. Significant assays include:
- 18 m averaging 1.72 g/t and 13m averaging 2.24 g/t (RC ZBR-161)
- 20 m averaging 1.3 g/t (RC ZBR-172)
- 5 m averaging 5.38 g/t Au (RC ZBR-160)
The drilling tested the mineralized zones to a maximum vertical depth of 100 m. All mineralized zones are open along strike and at depth.
Zone 53
Zone 53 is located 400 m southwest and along strike of the Bissa Southwest area. High River completed 13 RC holes (1,453 m) and one diamond drill hole (160 m) on Zone 53. Previous drilling by Jilbey during 2005 included two RC drill holes (142 m), with the best intersections returning 20 m averaging 3.8 g/t and 7 m averaging 3.9 g/t (RC ZBR-054).
Results to date suggest the presence of at least three subvertical, parallel mineralized zones with the confirmation of continuity awaiting the assays of five completed RC holes. High River's drill results have extended the previously known mineralization a further 80 m to the northeast with RC ZBR-176 returning 12 m averaging 1.79 g/t. This zone is open to the northeast and at depth. Significant results also include 3 m averaging 10.8 g/t in hole RC ZBR-177.
Zone 55
Zone 55 is located between Zones 51 and 52. The only hole completed by Jilbey in 2005 returned a gold intersection of 7 m averaging 1.53 g/t.
High River completed five RC holes (591 m) on Zone 55 over a distance of 160 m. Drill results have extended the known mineralized zone a further 120 meters to the west. In addition, two holes drilled 80 m apart intersected a new mineralized zone grading 6.09 g/t gold over 2 m (RC ZBR-174) and 1.98 g/t over 5 m (RC ZBR-149). Both zones remain open along strike and at depth.
Bissa-Gonglou Corridor Highlights
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Hole No. From (m) To (m) Interval (m) Gold (g/t)
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Zone 51 RC ZBR-086 39 41 2 5.71
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RC ZBR-088 20 31 11 1.72
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72 81 9 2.40
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RC ZBR-094 31 37 6 1.87
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RC ZBR-096 39 46 7 9.14
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104 108 4 4.35
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RC ZBR-097 35 49 14 2.34
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RC ZBR-101 39 49 10 1.66
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RC ZBR-102 1 10 9 4.75
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31 46 15 5.72
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RC ZBR-105 47 68 21 1.00
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RC ZBR-106 84 97 13 0.92
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RC ZBR-108 52 64 12 1.27
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RC ZBR-109 40 50 10 3.99
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RC ZBR-110 109 119 10 1.00
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RC ZBR-111 24 37 13 1.81
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RC ZBR-112 46 51 5 2.23
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97 102 5 2.31
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RC ZBR-114 47 50 3 4.45
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RC ZBR-117 52 59 7 4.73
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RC ZBR-120 46 54 8 3.89
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57 61 4 3.47
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RC ZBR-121 3 11 8 3.74
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28 50 22 1.13
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RC ZBR-122 109 120 11 1.10
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RC ZBR-131 21 34 13 1.94
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64 75 11 2.00
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RC ZBR-133 18 23 5 2.12
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RC ZBR-134 23 29 6 2.19
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47 52 5 2.04
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RC ZBR-135 29 39 10 1.30
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46 60 14 1.83
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RC ZBR-136 48 57 9 1.32
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RC ZBR-146 5 22 17 1.03
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36 41 5 9.67
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84 86 2 5.34
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RC ZBR-147 46 53 7 2.37
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RC ZBR-151 45 54 9 8.67
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91 97 6 2.16
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118 122 4 3.09
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RC ZBR-152 3 20 17 0.87
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145 148 3 4.65
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RC ZBR-153 1 10 9 1.19
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111 116 5 2.38
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RC ZBR-154 2 16 14 1.11
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RC ZBR-155 84 95 11 1.17
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140 145 5 2.32
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DDH ZK05-027 66.5 67.25 0.75 13.97
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102.5 103.9 1.4 17.11
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DDH ZK05-028 100 112.7 12.7 3.87
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138 164 26 1.81
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DDH ZK05-038 18 21 3 5.14
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DDH ZK05-039 82.1 84 1.9 6.49
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Trench TR-8220E 82.7 92.2 9.5 7.40
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Zone 52 RC ZBR-157 91 101 10 1.22
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139 142 3 3.7
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RC ZBR-158 13 26 13 1.16
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66 74 8 2.44
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RC ZBR-159 104 114 10 1.09
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RC ZBR-160 46 51 5 5.38
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RC ZBR-161 33 51 18 1.72
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54 67 13 2.24
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90 100 10 1.63
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RC ZBR-162 8 15 7 2.45
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RC ZBR-163 25 36 11 1.47
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RC ZBR-164 4 13 9 1.73
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RC ZBR-165 9 23 14 1.33
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RC ZBR-166 4 13 9 1.82
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21 27 6 1.77
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RC ZBR-172 70 90 20 1.30
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RC ZBR-173 28 37 9 1.63
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81 100 19 0.84
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ZK05-031 102 123 21 0.83
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Trench 5897E 15.4 22.7 7.3 1.49
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52.9 61.3 8.4 1.73
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Zone 53 RC ZBR-176 24 36 12 1.79
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40 48 8 1.42
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RC ZBR-177 16 19 3 10.77
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115 125 10 1.29
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RC ZBR-178 40 47 7 1.49
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RC ZBR-182 49 59 10 1.42
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RC ZBR-183 63 67 4 2.53
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RC ZBR-184 102 107 5 2.83
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RC ZBR-185 0 14 14 0.93
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Zone 55 RC ZBR-174 40 42 2 6.09
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Bissa Hill Deposit South Extension
The Bissa Hill deposit south extension is the southwest continuation of the Bissa Hill deposit (approximately 150,000 oz of measured and indicated resources (1)); the gold mineralization is hosted in a mafic schist unit, which forms the footwall of the Bissa Hill deposit. During 2005, Jilbey completed 36 RC and 16 diamond drill holes for a total of 5,746 m on 80 m spaced fences over a strike length of 1.4 km.
High River drilled two RAB fences on grid lines 8000E and 8200E (26 holes; 1,182 m), 11 RC holes (1,303 m), and excavated 10 trenches (721.3 m) in the eastern portion of the zone where laterite cover is absent or very thin. Significant drill results include:
- 23 m averaging 1.95 g/t (RC ZBR-192)
- 19 m averaging 1.56 g/t (RC ZBR-193)
- 13 m averaging 2.02 g/t (RC ZBR-194)
- 11 m averaging 3.04 g/t (trench 9417E)
High River is continuing with infill drilling at 40 m intervals in specific areas to better define the structural control of the mineralization, including the southwestern end of the zone where Jilbey's drill holes intersected high-grade mineralization (i.e. 37.5 g/t over 4 m and 18 g/t over 8 m in RC ZBR-073; 17.6 g/t over 16 m in DDH ZK05-017; and 13.2 g/t over 7 m in ZBR-038).
Gold mineralization occurs in narrow quartz veinlets, which consistently dip about 75 degrees to the northwest. The mineralization has been tested to a maximum vertical depth of 100 m.
Bissa Hill Deposit South Extension Highlights
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Hole No. From (m) To (m) Interval (m) Gold (g/t)
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RC ZBR-130 94 96 2 11.81
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99 107 8 1.74
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RC ZBR-191 71 75 4 2.63
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80 87 7 1.81
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RC ZBR-192 64 87 23 1.95
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110 114 4 3.95
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RC ZBR-193 96 115 19 1.56
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RC ZBR-194 34 44 10 1.76
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48 61 13 2.02
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RC ZBR-195 17 25 8 1.55
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Trench 9097E 14.1 22.7 8.6 1.17
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43.4 50 6.6 1.73
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Trench 9217E(S) 25.2 40 14.8 1.43
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Trench 9257E 13 20.7 7.7 1.45
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Trench 9377E(S) 9 13.2 4.2 2.55
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Trench 9417E 7 18 11 3.04
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Complete tables of results, surface and longitudinal plans and
cross-sections for the Bissa Project are posted on the Company's
website www.hrg.ca /Projects/Exploration/Bissa Group Permits or on
the home page under Qwik Access.
Note (1): Mineral Resources Bissa Hill Deposit
Measured 81,980 oz
Indicated 65,270 oz
-------------------------------------------
Total Measured and Indicated 147,250 oz
Quality Control Programme
The current drilling programme is carried out under the supervision of Driff Cameron, Vice President Exploration and the Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. High River follows a strict sampling and QA/QC protocol. RC samples are collected at every 1 m interval. Approximately 20 kg of cuttings are recovered for every sample and split several times to obtain a 2 kg sample, which is sent to the laboratory. The remainder of the split is stored at High River's secure facilities. Analytical work is carried out at the independent Abilab Laboratories Ltd. in Bamako, Mali. The samples are subject to a full sample preparation followed by a 50 g fire assay with atomic absorption finish; individual samples with a gold concentration greater than 5.0 g/t are re-run with a gravimetric finish. High River's QA/QC program included 10% blanks, duplicates and standard reference samples. Blind repeat assaying at the original laboratory and check assaying at a North American accredited laboratory are planned at the end of the drilling campaign. A 0.5 g/t cut-off grade was used for the calculation of composite intervals. The maximum distance of dilution of assay results of less than the cutoff grade included within a composite interval is 2.5 m.
About High River
High River is currently constructing two open pit gold mines which are scheduled to commence production next year, the Taparko-Bouroum Project in Burkina Faso and the Berezitovy Project in Russia. Annual gold production from Taparko-Bouroum is planned at 100,000 ounces in year one increasing to over 140,000 ounces in the third year of operation, with annual production from Berezitovy of 100,000 ounces. Combined with gold production from High River's 84%-owned Russian subsidiary, OJSC Buryatzoloto, High River's attributable annual gold production is planned to exceed 300,000 ounces by 2007, establishing the Company as a mid-tier gold producer.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected. Risk and uncertainties about the Company's business are more fully discussed in the Management's Discussion and Analysis published in the Company's Annual Report and in the Annual Information Form.
The following tables show selected drill results from Jilbey's previous drilling programmes at the Bissa Project.
Bissa Southwest
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Hole No. From (m) To (m) Interval (m) Gold (g/t)
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Zone 1 RC ZBR-046 63 77 14 3.18
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RC ZBR-047 51 61 10 6.86
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RC ZBR-048 3 30 27 4.62
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33 40 7 6.22
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RC ZBR-050 33 55 22 2.35
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DDH ZK05-008 60 76 16 4.17
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DDH ZK05-009 6 26 20 2.44
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31 39 8 5.51
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43 51 8 4.74
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Zone 2 RC ZBR-002 4 38 34 6.16
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RC ZBR-007 33 48 15 2.53
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64 87 23 2.65
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RC ZBR-008 56 73 17 3.76
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84 90 6 5.09
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RC ZBR-011 3 27 24 1.49
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30 52 22 2.24
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RC ZBR-079 39 46 7 5.28
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63 67 4 9.97
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74 88 14 1.06
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DDH ZK04-001 1.5 15.2 13.7 8.56
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56.4 68.3 11.9 3.13
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DDH ZK04-002 29 32 3 19.38
-----------------------------------------
50.35 70.4 20.05 2.95
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DDH ZK05-012 0 29 29 2.70
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DDH ZK05-018 62.6 79 16.4 3.60
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DDH ZK05-019 91 110.7 19.7 3.15
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DDH ZK05-020 59 73.1 14.1 5.04
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80.4 84 3.6 14.91
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DDH ZK05-026 19 33 14 4.34
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54 92 38 1.90
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Bissa-Gonglou Corridor
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Hole No. From (m) To (m) Interval (m) Gold (g/t)
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Zone 51 RC ZBR-057 38 46 8 6.53
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51 56 5 3.04
-----------------------------------------
66 70 4 3.50
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RC ZBR-058 34 37 3 3.78
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RC ZBR-060 13 16 3 2.31
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22 29 7 3.01
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RC ZBR-061 22 33 11 0.91
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55 72 17 1.11
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90 102 12 0.88
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RC ZBR-062 12 18 6 1.01
-----------------------------------------
21 32 11 1.37
-----------------------------------------
47 58 11 1.01
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Trench TR-5645.5E 119.3 123.5 4.2 1.95
-----------------------------------------
127.5 138 10.5 0.81
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Zone 52 RC ZBR-001 14 18 4 1.33
-----------------------------------------
21 25 4 1.61
---------------------------------------------------------
RC ZBR-065 36 49 13 1.46
---------------------------------------------------------
RC ZBR-066 15 22 7 3.90
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RC ZBR-067 33 45 12 2.87
-----------------------------------------
49 57 8 1.53
---------------------------------------------------------
RC ZBR-068 35 75 40 0.87
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Zone 53 RC ZBR-054 3 23 20 3.79
-----------------------------------------
30 37 7 3.88
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RC ZBR-056 46 51 5 1.67
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Zone 55 RC ZBR-064 39 46 7 1.53
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Bissa Hill Deposit South Extension
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Hole No. From (m) To (m) Interval (m) Gold (g/t)
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RC ZBR-012 72 76 4 8.54
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RC ZBR-015 75 88 13 1.98
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RC ZBR-016 86 97 11 1.39
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RC ZBR-024 69 91 22 1.50
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RC ZBR-025 25 38 13 2.01
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RC ZBR-026 12 37 25 2.00
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RC ZBR-028 112 128 16 2.20
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RC ZBR-030 38 52 14 1.05
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RC ZBR-038 35 41 6 2.20
-----------------------------------------------
49 56 7 13.17
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RC ZBR-039 121 124 3 11.48
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RC ZBR-055 27 36 9 7.97
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RC ZBR-073 17 21 4 37.47
---------------------------------------------------
48 56 8 17.94
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DDDH ZK05-004 46 58.6 12.6 1.23
---------------------------------------------------
65 79 14 2.55
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DDH ZK05-017 66 82 16 17.58
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DDH ZK05-023 37.9 50 12.1 1.79
---------------------------------------------------------------------
DDH ZK05-025 44.5 50.42 5.92 4.41
---------------------------------------------------------------------
Trench BSTR-9620E 140 154.6 14.6 0.97
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FOR FURTHER INFORMATION PLEASE CONTACT:
High River Gold Mines Ltd.
Don Whalen
Executive Chairman
(416) 947-1440
(416) 360-0010 (FAX)
or
High River Gold Mines Ltd.
Laurie Gaborit
VP Investor Relations & Corporate Secretary
(416) 947-1440
(416) 360-0010 (FAX)
info@hrg.ca
www.hrg.ca
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