Hudson River Commences Drilling at Zarn Lake
26 Julio 2011 - 6:00AM
PR Newswire (Canada)
TORONTO, July 26, 2011 /CNW/ -- TSX-V: HRM TORONTO, July 26, 2011
/CNW/ - Hudson River Minerals Ltd. ("Hudson River") (TSXV: HRM) is
pleased to announce the start of a drill program on its Zarn Lake
gold property located in northwest Ontario, approximately 20 km
east of Sioux Lookout. The drill program will consist of 17
drillholes for a total of 1,300 m in drilling. Drilling will be
completed by early August. The 17 holes will target the No.1 and
No.2 quartz veins along a strike length of 200 m. Holes will be
spaced 25 m apart with two drillholes per section (at -45o and -60o
inclination). The exploration depth is estimated to be 25 to 75 m
below surface. The No.1 and No. 2 veins were discovered in the
early 1900s by prospectors from the nearby town of Alcona. During
the 1930s Alcona Mines Ltd. drilled a series of holes to test for
gold mineralization in the known veins and sank a shaft with two
drifts to further explore underground. In 1979, Oriana Developments
Ltd. drilled 9 holes to test for extensions to the known
mineralization. In 1991, Valerie Gold Resources undertook a
geologic mapping and limited drill program with one drillhole
(SPL91-05) intersecting visible gold in a narrow quartz vein that
assayed 14.3 g/t Au over 0.7 m. Recent surface sampling of the No.1
quartz vein returned high-grade gold up to 265 g/t Au from within
the vein and 2.98 g/t Au in the wall rock. The No.1 vein has been
traced at surface for a distance of roughly 600 m. It remains open
in both directions under cover of overburden. The purpose of the
current drill program is to determine how far into the wall rock
the gold mineralization can occur and whether the quartz veins and
the mineralized wall rock can together form a zone of sufficient
thickness to be mineable. Hudson River can earn a 100% interest in
the property over a four year period through a combination of cash
payments ($165,000), exploration expenditures ($1.0 million), share
issuances (500,000 HRM common shares) and a 2.0% NSR. Alan Aubut
P.Geo. (ON) is a Qualified Person in accordance with Canadian
regulatory requirements as defined in NI 43-101 and has reviewed
and approved the technical content of this press release. About
Hudson River Minerals Ltd. Hudson River is focused on the discovery
of precious metals and base metals in Ontario. The management team
identifies underexplored areas that have historical intersections
of economic minerals and has experience exploring in areas with
little geologic outcrop and that rely heavily on geophysical
technologies for discovery. For more details on Hudson River's
properties go to www.sedar.com or visit
www.hudsonriverminerals.com. Neither the 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. This document may contain
forward-looking statements relating to Hudson River's operations or
to the environment in which it operates. Such statements are based
on operations, estimates, forecasts and projections. They are not
guarantees of future performance and involve risks and
uncertainties that are difficult to predict and may be beyond
Hudson River's control. A number of important factors could cause
actual outcomes and results to differ materially from those
expressed in forward-looking statements, including those set forth
in other public filings. In addition, such statements relate to the
date on which they are made. Consequently, undue reliance should
not be placed on such forward-looking statements. Hudson River
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, save and except as may be required by
applicable securities laws. To view this news release in HTML
formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/July2011/26/c7367.html p
bHudson River Minerals Ltd./bbr/ Stephen J. Balch, President and
CEObr/ Tel: (905) 407-9586br/ Email: a
href="mailto:sbalch@hudsonriverminerals.com"sbalch@hudsonriverminerals.com/a
/p
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