VAL-D'OR, QC, Nov. 27 - Hinterland Metals Inc. (TSXV:HMI) is pleased to announce that it has acquired three mineral exploration licenses approximately 90km southeast of Thompson, Manitoba that together cover 22,940 hectares. The new property includes the entire area of the Utik Lake Greenstone Belt that was recently mapped by the Manitoba Geological Survey (Bohm and Kremer, 2007).
The greenstone belt at Utik Lake forms an east- to northeast-trending, steeply dipping succession of mafic metavolcanic and related intrusive rocks interlayered with metsedimentary sequences including iron formations, mudstones and mafic volcanic derived conglomerates. This succession is overlain by younger sequence of sedimentary rocks including polymictic conglomerates, turbidites, greywackes and sandstones. The Utik Lake supracrustal rocks are bounded by and intruded by younger felsic plutonic rocks.
The main economic potential of the Utik Lake area is for stratiform-type and orogenic (shear related) gold. Recently presented assay results by the Manitoba Geological Survey included gold values up to 8.5 g/t from samples of sulphide-bearing chert in banded iron formations that have been mapped up to several metres wide over continuous strike lengths of a few kilometres. The Utik Lake supracrustal rocks are locally well sheared by major northwest-trending dextral shears that give rise to extensional (dilational) structures that are very favourable for gold deposition. The belt also has minor potential for paleoplacer gold mineralization and Volcanic-associated Massive Sulphide (VMS) copper-zinc deposits.
Stratiform-type gold deposits are significant in Canada. The Lupin mine in Nunavut produced 3.1M ounces of gold at an average grade of 9.3 g/t gold (NRCAN Website - http://www.nrcan.gc.ca/ms/cmy/2005revu/gol_e.htm). The Musselwhite mine in Northwestern Ontario has produced over 1.7M ounces and continues to produce an average of 150,000 ounces per year from current reserves of 1.2M ounces (Goldcorp Website - http://www.goldcorp.com/operations/musselwhite/).
Investors are invited to visit the Hinterland IR Hub at www.agoracom.com/IR/Hinterland where they can post questions and receive answers or review questions and answers lready posted by other investors.
Alternatively, investors are able to e-mail all questions and correspondence to HMI@agoracom.com where they can also request to be added to the investor e-mail list in order to receive all future press releases and updates in real time.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This release contains forward-looking statements reflecting the Company's objectives, estimates and expectations for its projects. These statements are identified by the use of verbs such as "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", and the negative thereof or other variations thereon or comparable terminology. By their very nature, these types of statements involve risk and uncertainty. Consequently, results could differ materially from the Company's projections or expectations.
For further information:
Mark Fekete, President at Toll Free 1-877-874-8182
E-mail: info@hinterlandmetals.com
Website: www.hinterlandmetals.com
