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DEC 1, 2005 - 10:40 ET
High River Gold Intersects 16.9 g/t Gold Over 20 Metres at the Bissa Project in Burkina Faso
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TORONTO, ONTARIO--(CCNMatthews - Dec. 1, 2005) - High River Gold Mines Ltd. ("High River" or the "Company")(TSX:HRG) is pleased to report further assay results from eight holes drilled at 40 metre centres on the south extension of the Bissa Hill deposit of the Company's Bissa Project in Burkina Faso.
Drilling on the southwestern zone of the Bissa Hill deposit south extension has successfully extended the known high-grade mineralization over a strike length of at least 260 metres (between grid lines 8520E and 8780E) and remains open down-plunge to the northeast. The new results confirm the continuity and high grade nature of the zone to a vertical depth of 100 metres.
Significant gold intersections from the six reverse circulation (RC) holes drilled include:
- 16.9 g/t over 20 m (ZBR-189)
- 21.2 g/t over 7 m and 3.3 g/t over 25 m (ZBR-200)
- 15.1 g/t over 10 m (ZBR-201)
- 4.4 g/t over 14 m (ZBR-198)
- 2.2 g/t over 15 m (ZBR-199)
Past drilling by Jilbey Gold Exploration Ltd. ("Jilbey") encountered several high-grade gold intersections on two sections spaced 80 metres apart (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 ZK-05-017; and 13.2 g/t over 7 m in RC ZBR-038). Visible gold was observed in RC ZBR-189 where 1 m assayed 299.1 g/t from 85 m and in DDH ZK05-017 (a previously reported core hole) where 1 m assayed 53.2 g/t from 70 m. The high-grade gold mineralization is often contained within a wider, lower grade mineralized envelope. Mineralization occurs in a distinct alteration zone containing quartz veinlets, iron carbonate, sulphides and silicification. Follow up core drilling will start shortly.
Drill results from two more infill RC holes at 40 metre centres on the northeastern zone of the Bissa Hill deposit south extension confirmed the continuity and grade of the mineralization over a 260 metre strike length (between grid lines 9200E and 9460E). Holes ZBR-202 and ZBR-203 returned 17 m at 2.0 g/t and 17 m at 1.28 g/t, respectively. This zone has a similar plunge to the southeastern high-grade zone and remains open below a depth of 90 metres. Gold mineralization is found in alteration zones with quartz veinlets, which consistently dip about 75 degrees to the northwest.
The Bissa Hill deposit south extension is the southwest continuation of the Bissa Hill deposit, which currently contains a measured and indicated resource of approximately 150,000 ounces (81,980 oz in the measured category and 65,270 oz in the indicated category); 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 metres on 80 metre spaced fences over a strike length of 1.4 kilometres. Since mid-September, High River completed 10 trenches (721 m) and 19 RC holes (2,220 m) on this zone.
Data from these programmes will provide sufficient information for an initial resource calculation of the Bissa Hill deposit south extension. By combining the Bissa Hill deposit and its southern extension, Bissa Southwest and part of the Bissa-Gonglou corridor, High River's initial goal is to establish a one million ounce open pittable gold deposit. All zones lie within a 5.5 kilometres strike length on the Sabce shear zone, which has been traced for over 30 kilometres. Five other promising gold target areas that are within 10 to 15 kilometres of the Bissa project have yet to be tested by High River, and offer the potential to host a similar size resource.
Bissa Hill Deposit South Extension Latest Results
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Hole No. From (m) To (m) Interval (m) Gold (g/t)
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ZBR-189 82 102 20 16.86
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Including 85 86 1 299.10
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Including 86 87 1 14.43
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ZBR-190 No significant
assays
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ZBR-198 48 55 7 1.95
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75 89 14 4.39
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Including 82 84 2 15.16
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ZBR-199 42 57 15 2.19
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Including 54 55 1 11.30
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ZBR-200 3 8 5 2.91
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24 31 7 21.24
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Including 24 25 1 35.40
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Including 28 29 1 95.40
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51 76 25 3.33
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Including 54 55 1 11.30
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Including 57 58 1 10.30
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Including 61 62 1 9.40
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Including 64 65 1 17.50
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Including 67 69 2 7.55
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ZBR-201 27 37 10 15.12
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Including 31 33 2 59.76
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ZBR-202 40 57 17 2.04
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ZBR-203 70 87 17 1.28
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Assays reported are uncut. True width is estimated to be 60% of the drilled length. 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.
In mid-September, High River started an exploration programme consisting of 10,500 metres core (DDH), 17,000 metres reverse circulation (RC), and 6,000 metres rotary air blast (RAB) drilling, and 2,500 metres of trenching. Results from approximately 65% of the programme were reported on November 23, 2005. With the RC and RAB portion of the drilling campaign now completed, only 50% of the core drilling programme remains to be carried out. 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.
Quality Control Programme
The current drilling programme is carried out under the supervision of Driffield 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 metre 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 cut-off grade included within a composite interval is 2.5 metres.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
High River Gold Mines Ltd.
Don Whalen
Executive Chairman
(416) 947-1440
or
High River Gold Mines Ltd.
Laurie Gaborit
VP Investor Relations
(416) 947-1440
(416) 360-0010 (FAX)
info@hrg.ca
www.hrg.ca
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