Golden Harker Explorations Limited

March 21, 2007 13:35 ET

Golden Harker Traces Gold Mineralized Horizon Over 3 KM at the Harker Gold Project, Northeastern Ontario

TORONTO, ONTARIO--(CCNMatthews - March 21, 2007) - Golden Harker Explorations Limited has received assay results for 18 drill holes recently completed on its 100% owned Harker Township gold property in N.E. Ontario. Drilling was guided by detailed ground geophysics, focused along the projected east and west extensions of the main gold mineralized horizon on the property, the Harker Gold Zone or HGZ. Drill holes were normally located at intervals ranging from 125 metres to 375 metres along the favorable horizons.

Current drilling suggests that the mineralized horizon hosting the HGZ, with a previous drill confirmed length of 1400 metres, may have an actual strike length exceeding 3 kilometres. This entire structure appears prospective for gold. The western extension of the HGZ remains open for extension west of hole GH0718 and below the vertical depth of 85 metres. In the east-central section of the property drill holes HG0704 and GHO712 have identified specific new targets of interest for future evaluation.

Highlights of the recent drill results are summarized in the following table, where drill sections assaying greater than 0.85 grams/T gold are presented.

Hole Gold From To Metres Feet Gold Gold
Zone (m) (m) (g/T) (oz/t)
1937m E Meridian 143.65 144.3 0.65 2.13 4.65 0.135
GH0601 152.9 153.25 0.35 1.15 1.26 0.036
1875m E Meridian 218.7 221.6 2.9 9.52 2.06 0.059
Including 219.9 221.6 1.7 5.58 3.15 0.09
1750m E North Zone 42.3 45.4 3.1 10.17 2.82 0.08
1625m E North Zone 45.2 46.7 1.5 4.92 0.863 0.024
675m E HGZ 20.2 26.1 5.9 19.35 3.455 0.1
Including 21.0 24.8 3.8 12.5 5.103 0.149
North Zone 120.6 123.4 2.8 9.19 0.872 0.024
937m W HGZ 77.1 78.7 1.6 5.25 1.770 0.052
1062m W HGZ 80.7 82.9 2.2 7.23 1.874 0.054
1187mW HGZ 116.9 118.9 2.0 6.56 1.459 0.042
1312mW HGZ 121.0 122.0 1.0 3.28 3.140 0.09
(i) 1312m W -- Hole location relative to Harker #1 Shaft
(i.e. 1312 metres west of #1 Shaft)

Drill Hole GH0712, located 625 metres east of the Harker #1 Shaft located in the south-central sector of the property and 1,200 metres west of the historic Meridian Gold Prospect, has confirmed the presence of at least two gold mineralized horizons, spaced approximately 70 metres apart. A mineralized shear at 20.2 metres returned a very encouraging 5.9 metre core section assaying 3.455 grams gold per Tonne. A second mineralized horizon at a hole depth of 120.6 metres returned 0.87 grams/Tonne gold over a 2.8 metre core section. The first zone represents the probable east extension of the main Harker Gold Zone (HGZ). The historic Meridian Zone represents the possible east extension of this horizon. The second mineralized zone in hole12 coincides with an IP chargeability anomaly which appears associated with the "North Zone" in hole GH0604 to the east.

The current work program was not directed at the core area of previous detail surface drilling and underground development, and this remains a priority exploration target. The Harker Number 1 Shaft extends to a depth of 300 metres; however, outside of the immediate shaft and mine workings, and the limits of surface ramp development carried out in the mid 1980's, only a few drill holes have probed the main Harker Gold Zone below the 150-metre level. Future diamond drilling will be important in evaluating the depth potential of this core section of the property.

Golden Harker Explorations Limited is a Canadian exploration company. The 1440-acre Harker Township Gold property, located 50 kilometres east of Matheson in northeastern Ontario, is the company's flagship property. An historical reserve estimate, prepared in 1988, following the last major surface and underground work program on the property, returned a calculated resource of 241,436 tons grading 0.178 oz/ton gold over a mining width of 8.1 feet. This resource estimate is considered historical in nature and not compliant with 43-101 requirements.

The technical content of this press release has been prepared and approved for disclosure by William Troup, P.Geol who serves as Qualified Person for the purposes of National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgment, they may be subject to a variety of risks and uncertainties that are beyond the company's ability to control or predict. Accordingly, readers should not place undue reliance on forward-looking statements.

On behalf of Golden Harker Explorations Limited

CUSIP no. 381064 20 3

Stock Symbol GNHE trades OTC (in Canada)

Jeffrey J. Becker, President

Contact Information

  • Golden Harker Explorations Limited
    Jeffrey J. Becker
    (416) 364-0042
    (416) 364-2630 (FAX)