Global Hunter Corp.
Global Hunter Corp.: UPDATE PHASE II PROGRAM AT LA CORONA DE COBRE COPPER PROJECT IN CHILE
Global Hunter Corp. / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- GLOBAL HUNTER ADVANCES PHASE II PROGRAM AT LA CORONA DE COBRE COPPER PROJECT IN CHILE Vancouver — August 3, 2007— Global Hunter Corp. (TSX.V: BOB; FSE: G5D) is pleased to announce the Company is well underway on its Phase II drilling and development program at La Corona de Cobre copper project in Chile in advance of a mine pre-feasibility study planned for completion in early 2008. Global Hunter has completed 6,400 metres of an 8,000 metre drill program that will be completed on the Las Posadas project, which is one of 15 shear zones identified on the property. The program consists of approximately 5,000 metres of infill drilling and 3,000 metres of step out drilling to test the extensions along strike and expand the known extent of copper and gold mineralization. Samples have been shipped to Acme Laboratories in Santiago, Chile, for analysis and results will be announced once received. The primary objective for the Phase II program will be to further define the resource and economics of the Las Posadas project. In addition to 8,000 metres of drilling, the program will include bulk acid leach metallurgical testing, environmental baseline, permitting and infrastructure relocation studies. The Company also plans to conduct a preliminary engineering scoping study and revised NI 43-101 resource calculation. Furthermore, Global Hunter will be testing additional promising targets on the property with up to 1,500 metres of exploration drilling on several of the other known shear zones. Remaining areas will be mapped and sampled for potential new drill targets. Global Hunter’s approximately 18,000 hectare La Corona de Cobre project is located in the Coastal Range of the Andean Cordillera, Chile, an area commonly referred to as the Chilean Iron Belt. The property is on the Pan American Highway, 70-kilometres north of the port city of La Serena. La Corona de Cobre is situated on the Atacama Fault Zone, a north-northeast trending regional feature that stretches for over 1,000 kilometres and which hosts several large copper deposits in Chile, including Phelps Dodge’s Candelaria (470 million tonnes grading 0.95% copper and 0.2% gold with approximately 1:3 ratio oxide to sulphide) and Anglo-American’s Manto Verde (120 million tonnes averaging 0.80% copper with approximately 1:4 ratio oxide to sulphide) deposits. Global Hunter’s La Corona de Cobre land package hosts at least 15 mineralized shear zones, ranging from 10 to 150 meters in thickness and from 0.5 to 9 kilometers in strike length, and several additional targets have been identified for further evaluation. In June of 2006, Global Hunter released results from an independent resource estimate, compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects, on the Las Posadas Shear Zone of the La Corona de Cobre Project, based on the Company’s Phase I exploration and past results (see news release dated June 9, 2006). The estimate was prepared by Micon International Limited ('Micon') using a Whittle optimized pit shell at various copper prices. In addition to the base case mineral resource, the Company commissioned Micon to conduct further studies to determine sensitivity at a $2.50 copper price. The results of these studies are presented in the following table: The table cannot be shown here. Please go to www.globalhunter.ca Rod Husband, P.Geo., President of Global Hunter, is the company’s qualified person on geological aspects of this news release. ABOUT GLOBAL HUNTER CORP. Global Hunter is a mineral exploration and development company focused on discovery and mining strategic and base metals, particularly copper and molybdenum. The Company is rapidly evolving and committed to building long-term value through ongoing discoveries and rapid mine development. On behalf of the Board of Directors GLOBAL HUNTER CORP. Rod Husband, P.Geo President For additional information contact: Email: info@globalhunter.ca or visit our Website: www.globalhunter.ca Contact Germany: Value Relations GmbH Tel. +49 69 959246-11 Fax: +49 69 959246-20 n.arnautovic@vrir.de DGAP 03.08.2007 ----------------------------------------------------------------------
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