Hunter Bay Minerals Plc
TSX VENTURE : HBY

September 16, 2011 20:01 ET

Hunter Bay Minerals Completes Phase One Soil Sampling Program on Sela Creek Project

LONDON, UNITED KINGDOM--(Marketwire - Sept. 16, 2011) - Hunter Bay Minerals plc ("Hunter Bay") (TSX VENTURE:HBY) is pleased to announce that it has completed Phase One soil sampling at its Sela Creek Project in Suriname. A total of 917 soil samples have been collected over an area of 7 by 4 km encompassing the Central Ridge, Jons Pit-Texas Trend and Eastern Anomaly prospects. Samples have been submitted to The Assay Office (Suriname) and assay results are expected within four weeks.

Hunter Bay has also commenced a second phase of geological mapping and channel sampling of surficial open pits within the 5 km long Jons Pit-Texas trend, with a view to better defining drill targets for a first phase drilling program in Q1 2012. Channel sampling is, however, limited by flooding of abandoned pits and unstable pit walls and Hunter Bay estimates that to date it has only been able to access approximately 15 % of the known pits and artisanal workings. Moreover, accessible areas are generally between open pits and in this respect Hunter Bay has not been able to sample those areas mined preferentially by artisanal miners.

Three main prospects are located within the Jons Pit-Texas trend; the Cambior Pit, the Texas Pit and Jons Pit, with numerous smaller satellite pits along the trend (Figure 1). The pits are being worked to depths of approximately 20 meters below surface by artisanal miners using high pressure hoses and sluice boxes. Several of the local miners have recently started to use excavators and hammer mills to mine quartz veins with visible gold. Hunter Bay considers these areas drill-ready targets.

The Cambior Pit strikes northwest and has exploited a sheeted quartz vein zone which strikes over 700 meters (Figure 2) and is up to 10 meters wide. Veins generally dip sub-vertically and are hosted at the contact between intrusive rock (granitoid) and schist. The northern part of the prospect comprises sheeted quartz veins with a shallow north to northeast dip hosted in intrusive rock. Of four rockchip samples taken in this area two assayed 33.16 and 18.13 g/t gold respectively. To date four channel samples have been completed at Cambior Pit totaling 43.7 meters with significant intercepts including:

  • 3.0 meters at 2.14 g/t gold (from 10.0 to 13.0 meters, CH001)
  • 1.0 meter at 1.86 g/t gold (from 7.0 to 8.0 meters, CH002)

Follow up rock-chip and channel sampling is ongoing in this area which is considered a high priority exploration target.

The Texas Pit prospect has a known strike length of over 200 meters, is up to 60 meters wide and comprises a quartz vein zone hosted in psammite and schist. Individual veins are 10 to 20 centimeters wide at surface and are hosted in vein zones up to 4 meters wide. Multiple vein zones are present. Visible gold has been observed in quartz veins and follow up channel sampling is planned for Q4 2011.

The Jons Pit prospect has a strike length of at least 1.3 km and is defined by a number of open pits which have been excavated above a northwest trending shear zone (Figures 3 and 4). The shear zone is up to 10 meters wide and gold mineralization is associated with lenticular quartz veins and silica altered limonite stained schist. To date ten channel samples totaling 88.9 meters have been completed at Jons Pit with significant intercepts including:

  • 7.4 meters at 1.66 g/t gold (from 0.00 to 7.4 meters, SKC0001)
    • including 2.0 meters at 4.68 g/t gold (from 0.8 to 2.8 meters)
  • 2.6 meters at 2.82 g/t gold (from 0.0 to 2.6 meters, SKC0006)
  • 1.0 meter at 3.99 g/t gold (from 0.0 to 1.0 meters, SKC0007)
  • 2.0 meters at 3.60 ppm g/t (from 4.0 to 6.0 meters, SKC0008)

Hunter Bay plans to commence approximately 2500 meters of diamond drilling in Q1 2012, with the aim of testing the down dip and strike continuity of targets recognized at surface. The Cambior Pit and Jons Pit are considered the highest priority targets for drilling due to the extensive surface workings, presence of numerous quartz vein zones and vein quartz with visible gold, and significant channel sample assay results. Hunter Bay will continue soil and channel sampling in areas of interest during Q4 of 2011 in order to continue to define priority drill targets.

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.

About Hunter Bay

Hunter Bay is engaged in the acquisition, exploration and development of mineral resource properties located in Canada and South America. Hunter Bay currently owns a one-hundred percent (100%) interest in the Great Bear Lake Properties located in the eastern side of Great Bear Lake NWT, has an option to acquire up to an eighty percent (80%) interest in the Sela Creek Project located in Suriname and has an option to acquire a forty five percent (45%) interest in the net profits of the Fortuna Project located in the Nambija Gold District, Ecuador.

Hunter Bay also has the right to operate the alluvial tailings on the Sela Creek Project for a period of ten years and the right to operate the alluvial tailings on fourteen medium scale prospecting and mining permits in Guyana for a period of ten years.

To view Figures 1 through 4, please visit the following link: http://media3.marketwire.com/docs/hby916f.pdf.

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 Hunter Bay's ability to complete the proposed soil sampling program on 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 form 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

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