Hemisphere Gold is a gold exploration, property acquisition and mining development company. Currently the company is interpreting data and developing a 3-D processing using geophysical programs to further highlight targets that relate to gold deposits in Suriname South America. Suriname is the new hot place for gold mining and Hemisphere Gold is in very good company.
Three companies currently mining gold in Surname have had excellent results:
First Company: In February one gold mining company hiked its gold reserve estimates for its gold mine in Suriname. The estimate of proven and probable reserves increased 19 per cent, from 3.2 million ounces to 3.8 million ounces, as of Dec. 31. This increase in reserves represents at least an additional two years of mine life. Plus this company anticipates an aggressive exploration and reserve/resource development program.
Second Company: For another gold company their pit on their property in Suriname assayed 39.7 gpt gold over a 2 m horizontal channel sample and 9.3 gpt gold over a 2 m vertical channel sample. A representative grab sample from the same vein returned 28.8 gpt gold. The MM vein was discovered by local poknokkers, who have excavated a pit 20 m deep, are currently processing the quartz vein and mineralized saprolite through a small hammer mill and are recovering the gold in a sluice box.
A program of additional poknokker pit mapping and sampling, 58 km of geochemical soil sampling, and bulldozer trenching of high priority gold prospect areas got underway in Q1, 2007.
Third Company: For a third company their five holes drilled in Suriname totaling 722.0 meters of core have been completed. The first four holes were drilled to determine the continuity of mineralization along strike and at depth below the pit workings. The drilling has shown that saprolite extends to a vertical depth of 61 meters.
Gold In Sustainable Upward Trend
The average price of gold in 2007 is set to break records because of interest from investors amid geopolitical uncertainty, the precious metals consultancy GFMS said last week.
“It’s looking pretty certain that the record in terms of the annual average, $614.50 back in 1980, is going to fall this year,” GFMS Chairman Philip Klapwijk said as the independent research group published its annual Gold Survey. Since the start of 2007 gold has traded at an average of $650 an ounce.
Investors are piling into gold amid geopolitical concerns, since the yellow metal is seen as a safe store of value in times of high inflation and political tensions.
Mergers and Acquisitions in Gold Mining One of Only Two Means of Expansion
Mining for gold in Suriname may catch the eye of a larger gold mining company AND that’s not a bad thing.
Gold companies can expand in two ways:
- Initiate a new mine;
- Purchase and existing mine;
Barrick Gold alone pushed up the S&P this week. Barrick Gold’s recent merger and acquisition has paid off. This week the second-biggest contributor to the S&P/TSX’s gain was Barrick Gold, which rose 5.1 per cent after the world’s biggest gold producer boosted its dividend and posted first-quarter results that beat analysts’ estimates.
Source: Hemisphere Gold and Merrill Lynch
3504 35th Ave SW
Calgary, Alberta T3E IA5 Canada
IR Contact: Barry Reagh
Phone: (888) 548-8444
Email: ir@hemispheregold.com
Website: www.hemispheregold.com
About 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 1700s. Suriname is an emerging major gold producer with international companies showing interest. Hemisphere is committed to maintaining environmental stewardship, occupational safety and corporate responsibility.
This 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.
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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.
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