THUNDER BAY, ON, July 7, 2011 /PRNewswire/ - Red Metal Resources
Ltd. (OTCBB:RMES), a mineral exploration company with copper-gold
assets in Chile, announces that it
has commenced an approximately 2000 meter combined reverse
circulation (RC) and diamond drilling program on its 100% owned
Farellon copper-gold project.
The drilling program is designed to continue expanding down dip
on known mineralized zones as well as testing areas with large gaps
of information.
"This is the first drilling program at Farellon in almost two
years and we look forward to aggressively advancing the project,"
said Caitlin Jeffs, P.Geo.,CEO.
Red Metal last explored Farellon in the fall of 2009 with a
five-hole, 725 meter, RC drill program. Significant results from
previous drilling are:
Hole ID |
From
(m) |
To
(m) |
Length
(m) |
Au
(g/t) |
Cu
(%) |
From
(m) |
To
(m) |
Length
(m) |
Au
(g/t) |
Cu
(%) |
FAR-09-A |
79.0 |
109.0 |
30.0 |
0.18 |
0.62 incl |
97.0 |
106.0 |
9.0 |
0.44 |
1.63 |
FAR-09-B |
56.0 |
95.0 |
39.0 |
0.25 |
0.55 incl |
75.0 |
86.0 |
11.0 |
0.67 |
1.35 |
FAR-09-C |
73.0 |
103.0 |
30.0 |
0.79 |
0.55 incl |
77.0 |
82.0 |
5.0 |
4.16 |
2.57 |
FAR-09-D |
95.0 |
134.0 |
39.0 |
0.11 |
0.58 incl |
95.0 |
103.0 |
8.0 |
0.33 |
2.02 |
FAR-09-E(i) |
24.0 |
68.0 |
44.0 |
0.12 |
0.30 incl |
65.0 |
68.0 |
3.0 |
0.58 |
1.46 |
(i) Hole ended in mineralization
Farellon is a copper-gold project in the prolific Candelaria
iron oxide copper-gold belt. Previous work completed in 1997 by an
Australian-based company included 22 RC drill holes totaling 3900
meters along a 1.7 km strike length of known mineralization hosted
in a mineralized fault zone along strike from the historic Carrizal
Alto mine.
Michael Thompson, P. Geo., vice
president of exploration for Red Metal, the project's Qualified
Person under the definition of NI 43-101, has reviewed and approved
the contents of this news release.
About Red Metal Resources Ltd.
Red Metal Resources is a mineral exploration company focused on
aggressive growth through acquiring, exploring and developing
copper-gold assets in Chile. Our
projects are located in the prolific Candelaria iron oxide
copper-gold (IOCG) belt of Chile's
coastal Cordillera, host to Freeport-McMoRan's Candelaria Mine and
Anglo American's Mantoverde Mine.
Red Metal is a fully reporting US public company quoted on the
OTCBB under the symbol RMES. For more information, visit
www.redmetalresources.com.
Except for the statements of historical fact, the information
contained herein is of a forward-looking nature. Such
forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievement of the company to be materially
different from any future results, performance or achievements
expressed or implied by statements containing forward-looking
information. Accordingly, you should not place undue reliance on
statements containing forward looking information. The U.S.
Securities and Exchange Commission permits mining companies, in
their filings with the SEC, to disclose only those mineral deposits
that a company can economically and legally extract or produce. We
may use certain terms in our press releases, such as "measured,"
"indicated," and "inferred" resources, which the SEC guidelines
generally prohibit companies from including in their filings with
the SEC. Investors are urged to consider closely the disclosure in
our Form 10-K, which may be obtained from us, or from the SEC
website at http://www.sec.gov/edgar.shtml.
Red Metal Resources Ltd.
Adam Rabiner
Corporate Communications
604-648-0513 or 1-866-907-5403
invest@redmetalresources.com
www.redmetalresources.com
SOURCE Red Metal Resources Ltd.