Don Nicolas Project Update
04 March 2008 - 6:00PM
UK Regulatory
HIDEFIELD GOLD PLC
DON NICOLAS GOLD PROJECT
GOLD MINERALIZATION REPORTED IN
ADDITIONAL PHASE III DRILLING RESULTS
Hidefield Gold Plc (AIM:HIF) ("Hidefield" or the "Company"), the gold company
with advanced projects in Argentina, Brazil and Alaska, is pleased to provide
the following update on progress and drilling results from the ongoing Phase
III drilling programme at the Don Nicolas gold project in Santa Cruz Province,
Argentina.
The Phase III drilling programme commenced in October 2007 and has included
eleven holes on the Sulfuro vein, three of which, S-D07-34 to 36 tested the
south plunge extension of the "South" ore shoot (see announcement of 19
December 2007).
An initial six holes have also been completed on each of the previously
untested Ramal Sulfuro and Rocio veins in the La Paloma sector of the project
area. Highlights include S-D07-40 on the Sulfuro "North" ore shoot which
intercepted 9.35 metres grading 3.68 grammes per tonnne ("gpt") gold, with 2.40
metres containing 9.84 gpt gold, and R-D07-03 at Rocio which intercepted 2.55
metres grading 7.28 gpt gold including 1.25 metres at 11.59 gpt gold.
The recent Sulfuro holes were designed to evaluate plunge extensions of the
"Central" and "North" ore shoots. A wide vein intercept of 9.35 metres grading
3.68 gpt gold in S-D07-40, including 2.40 metres at 9.84 gpt gold has extended
the "North" ore shoot about 40 metres along strike and down plunge to a
vertical depth of 100 metres and this vein remains open in both directions.
Gold mineralization of respectively 2.59 gpt gold along 1.30 metres in S-D07-38
and 1.36 gpt gold along 1.90 metres in S-D07-39 may have delimited the bottom
of the "Central" ore shoot at a vertical depth of about 100 metres while holes
S-D07-41 and 42 on the "North"ore shoot also contained lower grade vein
intervals.
The Ramal Sulfuro zone is a hanging wall branch of the Sulfuro vein discovered
last year in trenching and is located 300 metres north of previously tested
areas. Five of six initial holes on the zone, S-D07-45 to 49, intercepted
mineralized veins with values ranging from 0.98 gpt gold along 6.40 metres in
DH-46 to 2.11 gpt gold along 3.30 metres in DH 49. These holes and associated
trenching appear to define a low grade gold occurrence about 80 metres long
with an average thickness of about 5 metres and a vertical extent of 50 metres
that is open in all directions.
The Rocio vein is located 200 metres west of Sulfuro and had not been tested
before the current programme. Six holes totaling 462 metres, R-D07-01 to 06,
were completed with five intercepting potentially significant gold
mineralization including 7.28 gpt gold along 2.55 metres in R-D07-03. The Rocio
zone defined in these initial drill holes and trenching has a strike length of
about 80 metres with an average thickness of 2.25 metres and vertical extent of
60 metres that is open in all directions.
Assay results for the holes in the Phase III drilling programme reported in
this release are appended to this announcement and can also be viewed on the
Company's website.
The Phase III drilling programme at Don Nicolas is continuing with initial
testing of the Reyna vein at La Paloma, Trofeo vein at Microondas and the
Coyote and Cerro Oro vein systems at Martinetas.
John Prochnau BSc (Mining Engineering), MSc (Geology), Hidefield's Chief
Executive Officer, has reviewed and approved the content of this announcement.
Commenting Kenneth Judge, Chairman said "We are very pleased with the progress
made in the Phase III programme and are optimistic that the successful
conclusion of this drilling programme will add important additional resources
at the Don Nicolas project."
ABOUT HIDEFIELD
Hidefield is a gold company with a focus on the acquisition and development of
highly prospective projects in North and South America. The Company has a
diverse portfolio of projects. In South America and Alaska the projects are
directly held by Hidefield, while those projects in Canada, Nevada and Arizona
are held in independent, self-funded associate companies.
Hidefield's substantial direct gold project interests are principally in
Argentina where the Company is actively exploring the advanced stage Don
Nicol�s gold project in Santa Cruz Province with a mineral resource estimate,
prepared in compliance with JORC reporting standards, of 1,214,000 tonnes at
7.7 gpt gold containing 301,600 ounces of gold using a high grade cut of 90 gpt
gold (383,400 ounces of gold at 9.8 gpt without high grade cut off).
The Company is exploring an extensive portfolio of gold exploration licences in
the Patagonian provinces of Santa Cruz and Chubut, Argentina while in Brazil
the Company's activities are focused on the evaluation of the advanced stage
Cata Preta gold project near the historic city of Ouro Preto in the productive
Quadrilatero Ferrifero region of Minas Gerais state.
In Alaska, Hidefield has a 60 per cent. interest in the Golden Zone and South
Estelle mineral projects and an option to earn up to 100 per cent. interest,
subject to a 2.5 per cent. NSR, by making a series of staged cash, share and
property expenditures. The Golden Zone property is located 240 km north of
Anchorage and contains a measured and indicated resource of approximately
253,000 ounces of gold, 1,180,000 ounces of silver and 6,114,000 pounds of
copper. The South Estelle property, now in a joint venture with International
Tower Hill Mines Ltd, is located approximately 175 km northwest of Anchorage
and 230 km southwest of the Golden Zone project and adjoins Kennecott's
Whistler copper-gold property.
For more information on Hidefield go to www.hidefieldgold.com
For further information on this release, please contact:
Hidefield Gold Plc + 44 773 300 1002
Ken Judge, Chairman + 44 20 7976 2889
Investor Relations
Paul Ensor
Hanson Westhouse Limited (Nomad) + 44 113 246 2610
Tim Feather / Matthew Johnson
Landsbanki Securities (UK) Ltd (Broker) + 44 20 7426 9000
Tom Hulme
APPENDIX
Sulfuro
Drill Hole From (m) To (m) Thickness g/t g/t Oreshoot
(m)
Au Ag
S-D07-37 No vein intercepted
S-D07-38 117.80 119.70 1.90 1.36 20.5 Central
S-D07-39 146.50 148.00 1.50 2.59 7.72 North
S-D07-40 118.10 127.65 9.55 3.68 8.50
Including
120.10 122.50 2.40 9.84 14.64
Including
120.15 121.45 1.35 12.62 24.55
S-D07-41 106.95 111.30 4.35 1.81 4.38 North
S-D07-42 160.90 163.70 2.70 0.67 7.20 North
S-D07-43 49.40 51.31 1.91 1.11 2.73 North (up rake)
S-D07-44 42.50 45.20 2.70 2.04 17.26 North (up rake)
Ramal Sulfuro
Drill Hole From (m) To (m) Thickness g/t g/t Comment
(m)
Au Ag
S-D07-45 28.30 34.80 6.50 1.42 6.53
S-D07-46 24.55 30.95 6.40 0.98 13.37
S-D07-47 53.65 60.00 6.35 1.09 6.72
S-D07-48 24.35 30.85 6.50 1.11 13.47
S-D07-49 34.25 37.55 3.30 2.11 17.80 Isolated Hole
S-D07-50 No significant
mineralisation
Rocio vein
Drill Hole From (m) To (m) Thickness g/t g/t Comment
(m)
Au Ag
R-D07-01 27.75 30.90 3.15 1.44 4.92
R-D07-02 48.50 51.20 2.70 3.09 6.14
R-D07-03 30.70 33.25 2.55 7.28 8.65
Including
31.40 32.65 1.25 11.59 11.24
R-D07-04 26.88 31.20 4.32 3.42 13.18
Including
26.88 28.35 1.47 7.40 31.03
R-D07-05 66.45 68.70 2.25 1.87 16.79
R-D07-06 Isolated hole - no
significant
mineralisation
END
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