- Published: 19 March 2009
- Written by Editor
Hawthorne Gold Updates Taurus Mineral Resource Estimate
Hawthorne Gold Corp. ("Hawthorne" or the "Company") (TSX VENTURE: HGC)(PINK SHEETS: HWTHF) is pleased to announce that Wardrop Engineering Inc., a Tetra Tech Company, ("Wardrop") has completed an updated National Instrument 43-101 Technical Report ("the Report") and Mineral Resource Estimate on the Taurus gold deposit, which is located at the Cassiar Gold Camp in northern British Columbia, Canada. See highlights of the Report in the table below:
Taurus Inferred Mineral Resources Summary
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Cutoff Grade Tonnes Grade Au
(Au g/t) (x 1000) (Au g/t) (k/oz)
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0.50 33,055 0.99 1,055.5
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0.75 19,672 1.24 785.3
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1.00 10,871 1.54 537.5
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1.50 3,716 2.13 254.1
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2.00 1,693 2.63 143.3
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3.00 369 3.69 43.7
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The Taurus project is a large-tonnage, low-grade gold deposit, was a former underground high-grade producer, and has been explored for approximately 25 years. The deposit hosts a NI 43-101 Inferred Mineral Resource Estimate of 1.055 million ounces of gold, above a 0.5 Au (g/t) cut-off grade. This resource was re-confirmed in the recently completed March 11, 2009 Technical Report: "Updated Resource Report on the Taurus Deposit - Liard Mining District, B.C.", prepared by Wardrop. The full Report is available on www.sedar.com.
"Hawthorne is pleased to see the updated results from the Wardrop Report. The Company is actively modelling the historical and recent data of the Taurus deposit to fully evaluate the potential of the high-grade mineralized zones, and to determine the Company's action plan going forward for the project. Of note, the Company recently acquired 100% of the Taurus Project in January 2009," commented Richard Barclay, President and CEO of Hawthorne.
Thomas C. Stubens, P. Eng., Senior Geologist with Wardrop, carried out the mineral resource estimate of the Taurus Deposit using Ordinary Kriging. Mr. Stubens is an independent Qualified Person (QP) in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and has verified the mineral resource information presented in this news release.
Michael Petrina, P. Eng., the Company's Vice President of Mining and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.
A total of 382 drill holes totalling 43,173 metres were used in the resource calculation. Due to the uncertainty of Inferred Mineral Resources it cannot be assumed that all, or any part of this resource will be upgraded to an Indicated or Measured Resource as a result of continued exploration. To justify upgrading of the mineral resource, demonstrated economic viability is required. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
Wardrop has followed standard professional procedures in preparing this mineral resource estimate and metallurgical review. Data used in the report have been verified where possible and Wardrop has no reason to believe that the data were not collected in a professional manner. Wardrop has relied upon the outline of claim boundaries used in the technical report as provided by Hawthorne.
Cassiar Gold Camp - Table Mountain Gold Mine
The Cassiar Gold Camp hosts the permitted Table Mountain gold mine, comprising a 300 ton per day gravity/flotation mill, power plant, and tailing impoundment facility. Historical gold production from the camp amounted to just under 500,000 ounces at a grade of approximately 15 g/t Au. Gold mineralization at Table Mountain is primarily hosted in extensive quartz-carbonate-gold vein systems strongly associated with thrust faulting within altered greenstone and/or altered carbonatized ultramafic volcanic assemblages that are typical of some of Canada's largest gold camps, including Timmins, Kirkland Lake and Val d'Or.
About Wardrop Engineering Inc.
Wardrop is an internationally recognized multi-disciplined engineering firm which offers the mining industry a wide range of diversified services, from exploration and development, to production and closure. Wardrop has extensive international and Canadian experience in both open pit and underground mining projects, including remote northern sites.
About Hawthorne Gold Corp.
Hawthorne Gold Corp. is a Canadian-based gold exploration and development company with key properties in British Columbia, Canada. Hawthorne is led by well-respected mining leaders Richard Barclay and Michael Beley. Hawthorne's goal is to become a junior gold producer by working towards production at Table Mountain in the latter part of 2009 and to continue resource development at the nearby Taurus deposit, as well as the Frasergold deposit in the south central British Columbia Cariboo region.
ON BEHALF OF HAWTHORNE GOLD CORP.
Richard J. Barclay, President & CEO
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.
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.
Contacts: Hawthorne Gold Corp. Todd Hanas Toll Free: 1-866-869-8072 Hawthorne Gold Corp. (604) 629-1505 or Toll Free: 1-888-629-1505 (604) 629-0923 (FAX) Website: www.hawthornegold.com
SOURCE: Hawthorne Gold Corp.
http://www.hawthornegold.com
