Global Hunter Corp, TSX-V: BOB, is pleased to announce further final results from its recent drill program totaling nearly 9600 metres on the Las Posadas shear zone at La Corona de Cobre project Chile
Canada (Press Release) January 28, 2008 --
Vancouver, BC, January 28, 2008 -- Global Hunter Corp. ( TSX.v:bob ) is pleased to announce further final results from its recent drill program totaling nearly 9600 metres on the Las Posadas shear zone at La Corona de Cobre project Chile.
TRADING SYMBOL - TSX-V: BOB
The purpose of the program is to in-fill drill and further delineate the known copper oxide deposit; determine the boundaries of the oxide deposit in three dimensions; explore for possible extensions; provide sufficient core material for final copper oxide metallurgical testing; and assess the peripheral and deeper copper sulfide potential of the deposit below the current National Instrument ("NI") 43-101 qualified copper oxide resource and the oxide resource pit outline.
Highlights of the assay results include;
- Hole LP- 82 which encountered 10 metres of 2.14 percent copper
- Hole LP- 85 which encountered 52 metres of 1.75 percent copper, including 18 metres of 2.96
percent copper
- Hole LP-86 which encountered 8 metres of 2.23 percent copper
All holes were drilled at -45 and 115 degrees; sulfide and oxide intervals are tabulated as information contained at the company website http://www.globalhunter.ca.
TRADING SYMBOL - TSX-V: BOB
Discussion of results:
LP-81 was a 50 m step out updip of LP-027 in the central zone of Las Posadas and designed to bring a portion of the shear zone into the indicated resource. It drilled from overburden into the shear zone from 28-67m and encountered low-grade copper oxide mineralization:16-88 m, 72m@0.33%CuT & 0.16%CuS.
LP-82 was drilled 100 m downdip of LP-10, and 50 m on strike between both LP-79 and LP-80. It successfully drilled a narrow shear zone: 26m @ 0.93% total Cu and 0.67% soluble copper in a mixed zone from 168m-196m. The cross-section indicates obvious cross-faulting between the lower two holes on this panel.
LP-83 was an infill hole on an undrilled panel in the central part of the deposit designed to upgrade the resource category with 50 m center drilling. A narrow shear zone was encountered from 147 -170m with an intervening dike and fault and included the following interval: from 140-174m, 0.34% CuT & 0.19%CuS; LP-84 was drilled updip of LP-58 to explore the upper part of the shear zone at the north end of the resource. It drilled directly from overburden into the mineralized shear zone for 27 m with weak-moderate CuOx in mylonitized to skarned andesite. A significant thickness of mineralization was likely eroded here before being covered by post-mineral gravels. Significant intervals include: 26 m of 0.28% CuT from 77-103 m, with 12 m of 0.34% CuSol from 91-103 m; in the immediate footwall was a low grade 14 m interval of copper wad with 0.12% CuT at 119-133 m; in the far footwall from 199-217 m: 18 m of 0.18% CuT. The grades encountered in LP-84 are similar to the low grade but much thicker interval in LP-58. This is contrasted to the high grade sulfide interval encountered in LP-61, 100 m downdip with 22 m of 1.68%CuT and 30 m of 0.65% CuT and suggests high grade ore is contained in plunging ore shoots. The oxide -sulfide boundary was encountered at 230 m below a fault zone in strongly mylonitized schist.
LP-85 was drilled up dip of LP-22, an oxide hole and LP-55 which hit a mixed zone of copper. This was the best hole of the 2007 campaign. The shear zone was encountered 23m-90m and It included 23-27m @0.61%CuT & 0.46%CuS; 37-89m, 52m@1.75%CuT &1.42%CuSol; in the immediate footwall 105-127m, 22m @0.56%CuT &0.23%CuS. Grade gradually decreases on this panel with depth again suggesting a plunging control to ore shoots.
LP-86 was an infill hole above LP-27, a mixed intercept and below LP-57, which encountered strong copper oxide mineralization, 48 m of 1.64%CuT. The shear zone was thick but the mixed zone interval grade was less than in the updip hole: 64 m of 0.71% CuT and 0.23% CuSol.
LP-87 was an infill hole in the updip portion of the southern part of the deposit. It drilled from overburden into the shear zone and hit narrow, weak copper oxide mineralization. It seems likely that part of the deposit was eroded away here.
The Company's technical team is currently compiling new maps and cross-sections of Las Posadas deposit and these will be posted on the Global Hunter website, www.globalhunter.ca, as
The procedure for the sampling and preparation has been described in the initial drill results press release.
ABOUT GLOBAL HUNTER CORP. TRADING SYMBOL - TSX-V: BOB
Global Hunter is currently exploring and advancing development of the La Corona de Cobre project located 70 km north of La Serena, Chile along the Pan American Highway within the coastal belt of the Andean Cordillera. The 2007 program at the property will focus on further defining the resource and economics of the Las Posadas deposit. In addition to La Corona de Cobre, the Company is also working to complete further delineation drilling and an initial resource estimate at its Rabbit South Property molybdenum project in south-central British Columbia, Canada.
Michael S. Fulp, C.P.G., Chief Geologist for Global Hunter, is the Qualified Person as defined by National Instrument 43-101 who supervised the exploration program and has prepared, reviewed and approved the technical information in this news release.
On Behalf of the Board of Directors
GLOBAL HUNTER CORP.
Signed "Rod Husband"
Rod Husband, P.Geo
President
Contact:
Investor Relations: (604) 681-4653 or 1-866-282-8398
Email: info@globalhunter.ca or visit our Website: www.globalhunter.ca
TRADING SYMBOL - TSX-V: BOB
-----------------------------------------------------------------------------------------------------------------
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
TRADING SYMBOL - TSX-V: BOB
The purpose of the program is to in-fill drill and further delineate the known copper oxide deposit; determine the boundaries of the oxide deposit in three dimensions; explore for possible extensions; provide sufficient core material for final copper oxide metallurgical testing; and assess the peripheral and deeper copper sulfide potential of the deposit below the current National Instrument ("NI") 43-101 qualified copper oxide resource and the oxide resource pit outline.
Highlights of the assay results include;
- Hole LP- 82 which encountered 10 metres of 2.14 percent copper
- Hole LP- 85 which encountered 52 metres of 1.75 percent copper, including 18 metres of 2.96
percent copper
- Hole LP-86 which encountered 8 metres of 2.23 percent copper
All holes were drilled at -45 and 115 degrees; sulfide and oxide intervals are tabulated as information contained at the company website http://www.globalhunter.ca.
TRADING SYMBOL - TSX-V: BOB
Discussion of results:
LP-81 was a 50 m step out updip of LP-027 in the central zone of Las Posadas and designed to bring a portion of the shear zone into the indicated resource. It drilled from overburden into the shear zone from 28-67m and encountered low-grade copper oxide mineralization:16-88 m, 72m@0.33%CuT & 0.16%CuS.
LP-82 was drilled 100 m downdip of LP-10, and 50 m on strike between both LP-79 and LP-80. It successfully drilled a narrow shear zone: 26m @ 0.93% total Cu and 0.67% soluble copper in a mixed zone from 168m-196m. The cross-section indicates obvious cross-faulting between the lower two holes on this panel.
LP-83 was an infill hole on an undrilled panel in the central part of the deposit designed to upgrade the resource category with 50 m center drilling. A narrow shear zone was encountered from 147 -170m with an intervening dike and fault and included the following interval: from 140-174m, 0.34% CuT & 0.19%CuS; LP-84 was drilled updip of LP-58 to explore the upper part of the shear zone at the north end of the resource. It drilled directly from overburden into the mineralized shear zone for 27 m with weak-moderate CuOx in mylonitized to skarned andesite. A significant thickness of mineralization was likely eroded here before being covered by post-mineral gravels. Significant intervals include: 26 m of 0.28% CuT from 77-103 m, with 12 m of 0.34% CuSol from 91-103 m; in the immediate footwall was a low grade 14 m interval of copper wad with 0.12% CuT at 119-133 m; in the far footwall from 199-217 m: 18 m of 0.18% CuT. The grades encountered in LP-84 are similar to the low grade but much thicker interval in LP-58. This is contrasted to the high grade sulfide interval encountered in LP-61, 100 m downdip with 22 m of 1.68%CuT and 30 m of 0.65% CuT and suggests high grade ore is contained in plunging ore shoots. The oxide -sulfide boundary was encountered at 230 m below a fault zone in strongly mylonitized schist.
LP-85 was drilled up dip of LP-22, an oxide hole and LP-55 which hit a mixed zone of copper. This was the best hole of the 2007 campaign. The shear zone was encountered 23m-90m and It included 23-27m @0.61%CuT & 0.46%CuS; 37-89m, 52m@1.75%CuT &1.42%CuSol; in the immediate footwall 105-127m, 22m @0.56%CuT &0.23%CuS. Grade gradually decreases on this panel with depth again suggesting a plunging control to ore shoots.
LP-86 was an infill hole above LP-27, a mixed intercept and below LP-57, which encountered strong copper oxide mineralization, 48 m of 1.64%CuT. The shear zone was thick but the mixed zone interval grade was less than in the updip hole: 64 m of 0.71% CuT and 0.23% CuSol.
LP-87 was an infill hole in the updip portion of the southern part of the deposit. It drilled from overburden into the shear zone and hit narrow, weak copper oxide mineralization. It seems likely that part of the deposit was eroded away here.
The Company's technical team is currently compiling new maps and cross-sections of Las Posadas deposit and these will be posted on the Global Hunter website, www.globalhunter.ca, as
The procedure for the sampling and preparation has been described in the initial drill results press release.
ABOUT GLOBAL HUNTER CORP. TRADING SYMBOL - TSX-V: BOB
Global Hunter is currently exploring and advancing development of the La Corona de Cobre project located 70 km north of La Serena, Chile along the Pan American Highway within the coastal belt of the Andean Cordillera. The 2007 program at the property will focus on further defining the resource and economics of the Las Posadas deposit. In addition to La Corona de Cobre, the Company is also working to complete further delineation drilling and an initial resource estimate at its Rabbit South Property molybdenum project in south-central British Columbia, Canada.
Michael S. Fulp, C.P.G., Chief Geologist for Global Hunter, is the Qualified Person as defined by National Instrument 43-101 who supervised the exploration program and has prepared, reviewed and approved the technical information in this news release.
On Behalf of the Board of Directors
GLOBAL HUNTER CORP.
Signed "Rod Husband"
Rod Husband, P.Geo
President
Contact:
Investor Relations: (604) 681-4653 or 1-866-282-8398
Email: info@globalhunter.ca or visit our Website: www.globalhunter.ca
TRADING SYMBOL - TSX-V: BOB
-----------------------------------------------------------------------------------------------------------------
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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