Global Hunter Corp. (TSX.V: BOB) announced results from the first 91.8 metres of core drilled in hole RS-D-08-123 on the Rabbit South Project in British Columbia, Canada. The core averaged 0.070 percent molybdenum and 0.13 grams per tonne rhenium.

Rod Husband, President of Global Hunter, said:

"The encouraging molybdenum result of the first hole coupled with rhenium grades similar to other porphyry molybdenum deposits is very exciting and adds additional value and potential to the Rabbit South project. We look forward to the rest of the results from the program.”

Rhenium is found together with other metals and is only recovered as a by-product from molybdenite concentrates. It is a rare and valuable metal that currently trades at approximately US$12,100 per kilogram.

Rabbit South covers 1,900 hectares and contains a historical molybdenum discovery, first drilled by Dominic Lake Mining in 1967. It has subsequently received attention from Cominco between 1979 and 1981 before Global Hunter optioned the property in 2005. Global Hunter is in the midst of a 14 hole drill program designed to upgrade the historic resources to a 43-101 compliant resource estimate, due later this year. – Proactive Investors