Hunter Bay Minerals Plc

May 28, 2012 08:00 ET

Hunter Bay Minerals Announces Re-Interpretation of Geophysical Data at Sela Creek

LONDON, UNITED KINGDOM--(Marketwire - May 28, 2012) - Hunter Bay Minerals plc ("Hunter Bay") (TSX VENTURE:HBY)(OTCQX:HTBNF) is pleased to announce that it has completed a detailed re-interpretation of the airborne geophysical data at the Sela Creek Project, Suriname. A 4986 line kilometre aeromagnetic, radiometric and XDS VLF-EM licence-wide survey was completed by Terraquest Ltd in June 2011. The data has been reprocessed by Fugro Airborne Services which has allowed for a more detailed interpretation of structure and lithology (Figure 1).

Re-interpretation work conducted by Fugro, as well as follow-up mapping, indicates that the 30 km2 of drainages from which alluvial gold has been mined are centered on an area of intrusives which display a mottled, weak to moderate magnetic response. These intrusives are hosted by biotite schists and micaceous psammites, interpreted to have formed during regional metamorphism of a volcanic and volcanoclastic package. The northern and southern intrusive-schist contacts are marked by significant west-northwest and northwest trending faults respectively, which are locally offset by northeast trending subordinate faults.

Significantly, artisanal workings that have targeted gold-mineralized saprolite zones occur coincident with faulted intrusive-schists contacts. These areas include the Johns Pit, Puma, Cambior and Central Ridge prospects, all of which have produced significant channel sample results and/or gold in soil anomalies.

Andrew Tunningley, Hunter Bay's Chief Geologist and Director, comments, "Re-interpretation of airborne geophysical data has indicated that there are over 15 kilometers of faulted intrusive - metavolcanic contacts within the central Sela Creek area. The distribution of artisanal pits along interpreted intrusive-schist contacts demonstrates that these contacts exert a fundamental control on mineralization."

A review of the regional structural fabric in Suriname indicates that west-northwest and northwest trending faults represent fault splays of a major northwest-southeast trending crustal structure called the Central Guiana Shear Zone (CGSZ). The CGSZ can be traced several hundred kilometers, from French Guiana where it hosts gold mineralization at Yaou-Dorlin, through Suriname where it hosts gold mineralization at Benzdorp and Sela Creek, to Guyana. This is considered highly significant as a review of other greenstone-hosted, Proterozoic, shear hosted style gold deposits (Birimian-style) in West Africa (e.g. Obuasi) and northeastern South America (e.g. Tucano, Beadell Resources), indicates that steeply dipping, brittle-ductile shear zones proximal to regional zones of deformation act as major controls on mineralization.

The diamond drill program at Sela Creek is ongoing and Hunter Bay is pleased to announce that it has completed a sixth hole and drilled 1068.5 metres of a planned 5000-metre program. Hunter Bay expects to release assay results from the first 4 holes by the end of May.

Andrew Tunningley, MAusIMM (CP), a director of Hunter Bay, is a Qualified Person as defined in National instrument 43-101 - Standards of Disclosure for Mineral Projects is responsible for the work program on the Sela Creek Project. Mr. Tunningley has supervised and approved all technical information contained in this news release.

To view "Figure 1" associated with this news release, please click the following link:

About Hunter Bay

Hunter Bay is engaged in the acquisition, exploration and development of mineral resource properties located in South America and Canada. Hunter Bay's lead project is the Sela Creek Project, located in Suriname, which Hunter Bay has an option to acquire up to an eight percent (80%) interest. Hunter Bay also owns a one-hundred percent (100%) interest in the Great Bear Lake Properties located in the eastern side of Great Bear Lake NWT and has a thirty percent (30%) interest in the net profits of the Fortuna Project located approximately 400 kilometres southeast of Quito, Ecuador.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Hunter Bay cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hunter Bay's control. Such factors include, among other things: risks and uncertainties relating to the results of Hunter Bay's planned drill program at the Sela Creek Project, Hunter Bay's limited operating history; the need to comply with environmental and governmental regulations; and potential defects in title to Hunter Bay's properties. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Hunter Bay undertakes no obligation to publicly update or revise forward-looking information.


Contact Information

  • Hunter Bay Minerals plc
    Christopher Wilson
    CEO and President
    (+44) 207-127-9125