DENVER, Colo. – July 8 (SEND2PRESS NEWSWIRE) — Capital Hill Gold, Inc. (OTC BB: CHGI) reports that the Company has acquired a 100% interest in the Toiyabe Peaks Uranium project. The Toiyabe Peaks project covers sixty-two unpatented lode-mining claims (approximately 1,240 acres) on Federal lands administered by the Bureau of Land Management (“BLM”).
The Project is situated between two past-producing uranium mines, and covers more than three linear miles of altered, mineralized structure. Recent surface sampling along this regional trend has returned uranium assays with grades equal to those of the ore resources at the adjoining uranium mines; assays for precious metals have also been positive, with surface samples returning 0.08 to 0.22 oz Ag/ST.
Independent geologists who have visited the property and reviewed the geologic data have estimated that the TP project area could host a deposit on the order of 10 to 50 million tons grading 0.06% to 0.10% U3O8.
Capital Hill plans to immediately begin exploration work on the Toiyabe Peaks project. Detailed geologic mapping and sampling will be undertaken in conjunction with geophysical surveys to identify areas for trenching and drilling later this summer.
Capital Hill Gold’s strategic objective is to obtain controlling interests in properties with excellent exploration potential to become economically significant to world-class mineral deposits.
More information: www.CapitalHillGoldInc.com
This press release contains statements, which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Contact: Capital Hill Gold, Inc., Denver, Investor Relations, Roseanna Bach, +1-303-825-3382.
OTC Bulletin Board: CHGI / CHGI.OB
News issued by: Capital Hill Gold, Inc.
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Original Story ID: (556) :: 2005-07-0708-001
Original Keywords: Toiyabe Peaks Uranium Project, Capital Hill Gold, Inc., Denver, Colorado, OTC BB: CHGI, OTCBB, CHGI.ob, Bureau of Land Management, lode-mining claims, metals, mining, gold, bulletin board, small cap, stocks, investments, TP project Capital Hill Gold, Inc.
News Source: Capital Hill Gold, Inc.