Hemisphere Gold Inc. (OTC: HPGI)
Hemisphere Gold Updates on Sampling, Aeromagnetic and Radiometric Survey
Testing Taking Place in Productive Gold Producing Green Stone Belt in Suriname
RENO, Nev.–(BUSINESS WIRE)–Hemisphere Gold Inc. (Pink Sheets:HPGI – News), a gold exploration, property acquisition and mining development company, reported today that its surveys of its concession continue on multiple fronts and that initial results should be ready in the very near future.
The surveys and testing are concentrating in specific areas that have been identified through satellite imagery and geologic trends. There is a North-South trend for up to 27 km in strike length on the concession; equal or longer than similar trends over known discoveries.
Satellite imagery also defines two regions in the eastern part of the company’s concessions that have not been examined or sampled. These regions parallel a northeast trending magnetic high, which may represent intrusive related mineralization. Each trend is 8 to 10 km of strike and the surveying is also expected to be conducted within those zones.
Initial stream sediment sampling programs have returned promising results. In a zone extending over an area of eight square kilometers, 23 samples have been returned from 110 to 25,800 ppb gold (0.75 oz/ton), in contrast with a mean background value of 19 ppb. Re-analysis of 15 anomalous stream sediment samples has returned values of silver up to 21.6g, nickel up to 520ppm, copper up to 100ppm, and zinc up to 152ppm.
A Company spokesman for Hemisphere Gold stated, “The initial areas being sampled represent only a small portion of the gold potential on the concession and further exploration will be conducted on other areas of the concession in 2007. We expect to have initial results from the auger, aeromagnetic and radiometric surveys very soon with corresponding announcements.”
The positive factors that supported the gold price last year — a balance of global events, resilient demand and contractions in supply — remained in place this year, World Gold Council MD for investment research and marketing Katharine Pulvermacher said in an interview last week.
Suriname’s parliament continues to work closely with foreign mining companies. Later this year the government will start negotiations with the multinationals BHP-Billiton and Alcoa to strike a multi-million bauxite mining deal. Also negotiations are planned for later this year with gold mining multinational Newmont and Suralco/Alcoa to construct a gold mine in the country.
These developments, along with ongoing oil explorations by state-owned Staatsolie Oil Company in joint venture with international oil companies, are viewed as major opportunities to increase government income significantly during the coming years.
About the Company
Hemisphere Gold Inc. is in the business of exploration and acquisition of gold properties in some of the world’s best gold districts. The Company’s objective is to take advantage of high-yielding untapped mineral producing properties through exploration and acquisition. The Company’s flagship property is in Suriname, a democratic country which has had mining operations since the 1700’s. Suriname is an emerging major gold producer with international companies showing interest. Hemisphere is committed to maintaining environmental stewardship, occupational safety and corporate responsibility.
For more information, please visit http://www.hemispheregold.com/.
This press release may contain forward-looking statements which are pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that actual results may differ materially and all forward-looking statements involve risks and uncertainties including, without limitation, risks associated with the Company’s financial condition and prospects, risks associated with mining exploration, risks of governmental legislation and regulation, risks associated with technological changes, risks associated with dependence on third parties, risks relating to international operations, delays in testing and evaluation of products and risks associated with competition.
Contact:
Hemisphere Gold Inc.
Barry Reagh, 888-548-8444 (Investor Relations)
Source: Hemisphere Gold Inc.
View the StockGuru Profile for Hemisphere Gold:
http://www.stockguru.com/profiles/hpgi/
We Invite you to Visit the All New StockGuru Blog!
Here you will find updates on all our covered companies, including Profiled Companies and StockGuru Picks.
Click HERE to visit the Blog, or go to:
http://stockguru.com/blog/
StockGuru.com is owned and operated by Pentony Enterprises LLC, 9555 Lebanon Road, Suite 103, Frisco, Texas 75035. Telephone: (469) 252-3030. Web: StockGuru.com. Email: Publisher@stockguru.com. Disclosure: Pentony Enterprises LLC has been compensated $12,000 for profile coverage. Pentony Enterprises is not a registered investment adviser or a broker/dealer. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
Pentony Enterprises LLC, the publisher of this website, was compensated 12,000 U.S. dollars by Haynes Capital Corp. Slovakia s.r.o. (hereinafter “Haynes”) for preparing and hosting the information contained on this website. Ocean Eclipse Ltda. (hereinafter “Ocean”), a corporation organized under the laws of Costa Rica paid Haynes 60,000 U.S. dollars to produce and distribute a financial newsletter and to publicize the gold industry and Hemisphere Gold Inc. (”HPGI”), a Nevada corporation, using one or more websites. Haynes has not received any information indicating that Ocean owns any shares of HPGI. In addition, on March 29, 2007, Haynes entered into a contract with HPGI under which Haynes shall perform media relations and awareness consulting services for HPGI and HPGI shall pay Haynes 3,000 U.s. dollars per month. The term of this contract is 3 months and shall be automatically extended for 1 month terms until terminated by either party.
Haynes does not own any common shares of HPGI and does not intend to purchase or sell any common shares of HPGI in the immediate period following the publication of information pertaining to HPGI on this website. However, because Haynes received compensation for assisting HPGI engage in media relations and awareness marketing, and HPGI has in turn received compensation from Haynes, there is an inherent conflict of interest in any statements and opinions contained in this website and such statements and opinions cannot be considered independent.