VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2012) - High Desert Gold Corporation ("HDG" or the "Company") (TSX VENTURE:HDG)(OTCQX:HDGCF) announces that it has completed a 70 metre trench and the first three reverse circulation drill holes of the second phase drill program at the Grey Eagle target within the Gold Springs project area that straddles the Nevada/Utah border. Four hundred and five (405) metres were drilled in the first three holes. All of the samples from the trench and the first two drill holes were submitted on October 11 to the Inspectorate laboratory in Reno, Nevada for analysis, with some samples prioritized on a rush basis. Selected sample results may be available this week or the following week.
Current plans are to complete a minimum of 8 holes on the Grey Eagle Target to better define the orientation and extent of the system. It is estimated that the completion of these holes will test approximately 225 metres of strike and approximately 100 metres vertically. Once the drilling at Grey Eagle is completed the drill will be moved to the Jumbo zone on the Utah side of the Gold Springs project.
The three drill holes and the trench completed thus far at Grey Eagle were oriented to drill the zone that was intersected in drill holes GE 12-001 and GE 12-002 which included 21.4 metres of 5.6 g/t gold and 32.4 g/t silver within a zone that averaged 2.1 g/t gold and 16.4 g/t silver over 62.5 metres, as described in the recent HDG recent press release of August 16 (HDG PR 12-14).
The Qualified Person on the Gold Springs property is Randall Moore, Executive Vice President of Exploration of High Desert Gold Corporation and he has reviewed and approved the content of this press release.
Gold Springs is a 70/30 Joint Venture with Pilot Gold Inc. in which HDG holds a 70% interest and is the operator of the Joint Venture.
Detailed maps of the target areas in both Utah and Nevada can be found on the Company's website at http://www.hdggold.com/goldsprings.html.
ABOUT HIGH DESERT GOLD
The Company is a mineral exploration company that acquires and explores mineral properties, primarily gold, copper and silver, in North America. The principal property held by HDG is a 70% interest in the Gold Springs gold project situated along the border between Utah and Nevada. The Company also holds direct interests in a number of other properties including the San Antonio project in Sonora, Mexico, the Gold Lake property in New Mexico, and the Kinkaid and Pinyon properties in Nevada. The Company also has a 34.2% interest in the Canasta Dorada property in Sonora, Mexico, through its equity interest in Highvista Gold Inc. There has been insufficient exploration to define a property-wide mineral resource at Gold Springs and it is uncertain if further exploration will result in the additional targets at Gold Springs being delineated as a mineral resource.
Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "target", "next", "further", "plans, "will", "estimate", "expected" and similar expressions. These statements include, but are not limited to, statements regarding the continued advancement of the Gold Springs property. In addition, information concerning the interpretation of drilling results may be considered forward-looking statements, as such information constitutes a prediction of what mineralization might be found to be present if and when a project is actually developed. These forward- looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, the timing for the return of assay results, the availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined and other risks more fully described in the Company's Management Discussion & Analysis of Financial Position and Results of Operations, which is available on SEDAR at www.sedar.com. The material assumptions that were applied in developing the forward-looking statements include: the timely receipt of assay results; the availability of equipment and qualified personnel, and the timely receipt of permits, to advance the Gold Springs project; and the execution of the Company's existing plans and further exploration and development programs for Gold Springs, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, HDG assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this release describe the Company's expectations as of October 15, 2012.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.