High River Gold Mines Ltd.
TSX : HRG

High River Gold Mines Ltd.

June 08, 2005 13:05 ET

High River Gold Receives Encouraging Drilling Results at its Labola Property in Burkina Faso

TORONTO, ONTARIO--(CCNMatthews - June 8, 2005) - High River Gold Mines Ltd. ("High River" or the "Company")(TSX:HRG) today announced encouraging results from its first reconnaissance drilling programme at its 100%-owned Labola property in Burkina Faso, West Africa. High River completed 1,604 metres of reverse circulation drilling in 18 holes and 1,628 metres of RAB drilling on one fence line to test the Labola shear structure at approximately 500 metre intervals along a strike length of 11 kilometres.

Initial reconnaissance work on the property by High River had identified three subparallel mineralized quartz vein structures (Central Zone). Another subparallel zone was found approximately 2.5 kilometres east of the Central Zone. The surface expression of these structures is marked by extensive workings generated from near-surface, high-grade gold mining by some 5,000 orpailleurs. Results from the drilling indicate the presence of a series of subparallel quartz veining zones ranging from a few metres to 80 metres in width and carrying anomalous to very high-grade gold mineralization. Visible gold was observed in nine of the 18 holes.

High-grade gold intersections from the programme include:

- 65.2 g/t (1.9 oz/t) over 1 metre in hole LBR-004

- 20.7 g/t (0.60 oz/t) over 2 metres and 12.8 g/t (0.37 oz/t) over 1 metre in hole LBR-010

- 46.2 g/t (1.35 oz/t) over 1 metre in hole LBR-012

- 7.1 g/t (0.21 oz/t) over 5 metres in hole LBR-013

- 52.0 g/t (1.52 oz/t) over 1 metre and 8.4 g/t (0.25 oz/t) over 1 metre in hole LBR-014

- 32.0 g/t (0.93 oz/t) over 2 metres and 8.4 g/t (0.25 oz/t) over 1 metre in hole LBR-016

The gold-bearing, low sulfide, quartz vein systems are hosted in graphitic, chloritic and sericitic schists. Within the Central Zone, hole LBR-010 encountered two high-grade quartz veins approximately 15 metres apart, within a wider zone of quartz veining starting at 20 metres and ending at 100 metres (end of hole). This hole also intersected lower grade gold mineralization: 6 metres grading 2.5 g/t (visible gold), 10 metres grading 1.0 g/t, and 11 metres grading 1.9 g/t (visible gold). Also on the Central Zone, Hole LBR-014 intersected two high-grade quartz veins approximately 35 metres apart, and hole LBR-013, located between holes LBR-012 and LBR-014, intersected a 40 to 50 metre wide zone of quartz veining returning 5 metres at 7.1 g/t gold with each 1 metre sample assaying: 1.5 g/t, 11.4 g/t, 11.2 g/t, 6.7 g/t and 4.6 g/t. These intercepts demonstrate the potential for broad low-grade mineralization with high-grade shoots.

On the easternmost structure, which has been traced for a strike length of only 1 kilometre at this time, hole LBR-016 intersected two high-grade quartz veins lying 15 metres apart and containing visible gold.

The RAB drilling, which consisted of 48 holes inclined at 45 degrees, spaced 15 metres apart and averaging 34 metres, along a 705 metre line, encountered the trace of one of the two central quartz vein structures. RAB hole LBB-043 intersected 6 metres grading 0.42 g/t gold in altered sericite schist containing 1% to 10% quartz. The drill fence was designed to cross a 1.6 kilometre long gap between artisanal gold workings along the Central Zone. This area corresponds to a topographic low, which could indicate that the shallow RAB drilling completed may not have reached the quartz vein system.

IP Survey

High River also completed an IP test survey over an area of 1 square kilometre covering the Central Zone of gold mineralization. The results showed a strong chargeability and resistivity response over the mineralized zones and indicated the presence of additional similar structures in the survey area. The Company plans to extend the IP survey and initiate a magnetic survey to better define the known structures and possibly trace the presence of other mineralized structures.

Work Programme

The Company is highly encouraged by the positive results obtained from this first widely-spaced drilling program at Labola. The initial results, as observed in holes LBR-010 and LBR-013, indicate the potential for finding wide, low-grade disseminated mineralization with high-grade shoots, which could be mined by open pit. Before proceeding with the second phase of reverse circulation and core drilling, High River will continue with detailed geological mapping, soil geochemical sampling and geophysical surveys to obtain a better understanding of the structural controls of the gold mineralization.

Quality Control

The Labola drilling programme was 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. Samples were collected at every 1 metre interval. Approximately 20 kg of cuttings were recovered for every sample and split several times to obtain a 2 kg sample, which was sent to the laboratory. The remainder of the split was saved in secure facilities at the on-site exploration camp. Analytical work was carried out at the independent Abilab Laboratories Ltd. in Bamako, Mali. The samples were subject to a full sample preparation followed by a 50 g fire assay with atomic absorption finish and gravimetric finish for individual samples with a gold concentration greater than 5.0 g/t. High River's QA/QC program included 10% blanks, duplicates and standard reference samples, in conjunction with systematic check assays in external laboratories. A 0.5 g/t cut-off grade was used for calculation of composite intervals.

Additional Information

The full table of drilling results and a sketch map covering the area of the drilling programme are attached to this release.

High River is currently advancing the construction of the Taparko-Bouroum gold project in the northeast part of Burkina Faso, which is scheduled for production in early 2006.

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.

To view the attached map please click on the following link:

http://www2.ccnmatthews.com/database/fax/2000/hrg0608.pdf



Labola Project - Reverse Circulation Drilling Program
Assays above 0.5 g/t gold (uncut)
--------------------------------------------------------------------
GOLD Intercepts
ASSAY with visible
HOLE LENGTH FROM TO INTERVAL (uncut) gold in
# (m) (m) (m) (m) (g/t) panning
--------------------------------------------------------------------
LBR-001 112.0 18.0 20.0 2.0 1.80
--------------------------------------------------------------------
29.0 30.0 1.0 0.74
--------------------------------------------------------------------
54.0 55.0 1.0 1.17
--------------------------------------------------------------------
LBR-002 67.0 45.0 46.0 1.0 7.36 VG
--------------------------------------------------------------------
LBR-003 100.0 25.0 26.0 1.0 1.96
--------------------------------------------------------------------
LBR-004 103.0 74.0 76.0 2.0 32.87 VG
--------------------------------------------------------------------
including 74.0 75.0 1.0 65.20 VG
--------------------------------------------------------------------
87.0 88.0 1.0 0.69
--------------------------------------------------------------------
99.0 100.0 1.0 1.92
--------------------------------------------------------------------
LBR-005 106.0 33.0 38.0 5.0 1.13
--------------------------------------------------------------------
41.0 42.0 1.0 0.88
--------------------------------------------------------------------
49.0 55.0 6.0 0.83
--------------------------------------------------------------------
LBR-006 100.0 8.0 9.0 1.0 0.82
--------------------------------------------------------------------
12.0 14.0 2.0 1.05
--------------------------------------------------------------------
27.0 29.0 2.0 2.41 VG
--------------------------------------------------------------------
31.0 32.0 1.0 - VG
--------------------------------------------------------------------
32.0 46.0 14.0 1.04 VG
--------------------------------------------------------------------
51.0 53.0 2.0 0.58
--------------------------------------------------------------------
56.0 57.0 1.0 0.53
--------------------------------------------------------------------
LBR-007 106.0 0.0 1.0 1.0 0.69
--------------------------------------------------------------------
34.0 35.0 1.0 1.09
--------------------------------------------------------------------
LBR-008 103.0 32.0 33.0 1.0 1.13
--------------------------------------------------------------------
44.0 45.0 1.0 0.65
--------------------------------------------------------------------
55.0 61.0 6.0 1.25
--------------------------------------------------------------------
65.0 70.0 5.0 0.58
--------------------------------------------------------------------
LBR-010 100.0 20.0 23.0 3.0 1.99
--------------------------------------------------------------------
41.0 47.0 6.0 2.25 VG
--------------------------------------------------------------------
50.0 51.0 1.0 1.60
--------------------------------------------------------------------
54.0 58.0 4.0 11.05 VG
--------------------------------------------------------------------
including 54.0 56.0 2.0 20.65 VG
--------------------------------------------------------------------
60.0 61.0 1.0 - VG
--------------------------------------------------------------------
65.0 66.0 1.0 - VG
--------------------------------------------------------------------
66.0 76.0 10.0 0.99
--------------------------------------------------------------------
80.0 82.0 2.0 6.80
--------------------------------------------------------------------
including 80.0 81.0 1.0 12.80
--------------------------------------------------------------------
89.0 100.0 11.0 1.92 VG
--------------------------------------------------------------------
LBR-011 100.0 4.0 5.0 1.0 1.93
--------------------------------------------------------------------
33.0 34.0 1.0 0.67
--------------------------------------------------------------------
94.0 95.0 1.0 0.56
--------------------------------------------------------------------
LBR-012 91.0 6.0 7.0 1.0 0.70
--------------------------------------------------------------------
35.0 36.0 1.0 0.68
--------------------------------------------------------------------
56.0 58.0 2.0 23.56 VG
--------------------------------------------------------------------
including 56.0 57.0 1.0 46.20 VG
--------------------------------------------------------------------
61.0 62.0 1.0 - VG
--------------------------------------------------------------------
77.0 78.0 1.0 - VG
--------------------------------------------------------------------
LBR-013 100.0 32.0 37.0 5.0 7.06 VG
--------------------------------------------------------------------
45.0 47.0 2.0 0.64
--------------------------------------------------------------------
51.0 52.0 1.0 - VG
--------------------------------------------------------------------
59.0 62.0 3.0 2.10 VG
--------------------------------------------------------------------
93.0 94.0 1.0 - VG
--------------------------------------------------------------------
LBR-014 91.0 28.0 32.0 4.0 2.88
--------------------------------------------------------------------
including 31.0 32.0 1.0 8.38
--------------------------------------------------------------------
59.0 60.0 1.0 1.29
--------------------------------------------------------------------
71.0 72.0 1.0 0.97 VG
--------------------------------------------------------------------
81.0 82.0 1.0 52.0 VG
--------------------------------------------------------------------
LBR-015 76.0 0.0 1.0 1.0 3.48 VG
--------------------------------------------------------------------
36.0 37.0 1.0 2.94
--------------------------------------------------------------------
43.0 44.0 1.0 1.36
--------------------------------------------------------------------
LBR-016 99.0 51.0 52.0 1.0 8.41
--------------------------------------------------------------------
60.0 65.0 5.0 0.60 VG
--------------------------------------------------------------------
71.0 80.0 9.0 7.73 VG
--------------------------------------------------------------------
including 71.0 73.0 2.0 32.0 VG
--------------------------------------------------------------------
84.0 86.0 2.0 0.57
--------------------------------------------------------------------
93.0 94.0 1.0 0.80
--------------------------------------------------------------------
LBR-017 43.0 14.0 15.0 1.0 0.55
--------------------------------------------------------------------
LBR-018 64.0 30.0 37.0 7.0 0.53
--------------------------------------------------------------------

Note: Holes LBR-009 (43.0 m), LBR-017, and LBR-018 drilled in
proximity of each other were stopped due to difficult ground
conditions and collapse of the hole. In some instances where visible
gold was noted, the assay was less than 0.5 g/t and therefore
indicated by a hyphen ("-"). Most of the holes hit water at a depth
of 30 to 40 meters.



Contact Information

  • 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