TORONTO, June 17, 2016 /CNW/ - Richmond Minerals
Inc. (TSX-V: RMD) ("Richmond" or the
"Company") is pleased to announce that Phase II diamond
drilling will resume on or about July 8,
2016 at the Company's Ridley Lake Gold Project located in
the west central area of the Swayze Greenstone belt approximately
35 kilometres east of Goldcorp's Borden Gold Project.
Phase II of diamond drilling will be focused on targets
identified within the Company's 100%-owned claims located
immediately east of the Aguara gold showing. Specifically these
holes will be collared to test for depth extensions to wide zones
of gold mineralization intercepted in holes RMD15-14, RMD15-15,
RMD15-16 and RMD15-19 during Richmond's Phase I drilling program conducted
last fall.
As reported gold-bearing intervals associated with mafic to
intermediate metavolcanic units and a porphyry intrusion were
encountered in all four of these Phase I holes. A review of the
geological and assay data from Phase I drilling suggests that the
gold-bearing zone plunges to the east, with indications of an
increase of width and grade of gold mineralization with depth (0.67
g/t in hole 19 versus 0.42 g/t in hole 16 for the same vertical
section). Richmond is planning to
drill a minimum of 1,500 meters for this phase of diamond drilling
and results will be released as they become available.
The Company also announces its annual and general meeting for
fiscal year end 2015 will be held at Richmond's corporate head office located at
133 Richmond St. W, Suite 403 on August 12,
2016 at 11 am.
Warren Hawkins, P.Eng, a
"Qualified Person", within the meaning of Nation Instrument 43-101-
Standards of Disclosure for Minerals Projects, has reviewed and
approved the scientific and technical information contained in this
news release. Mr. Hawkins is not considered to be "independent" of
the Corporation (as defined in National Instrument 43-101), as he
currently holds securities of the Corporation.
Cautionary Note Regarding Forward-Looking Statements: Certain
disclosure in this release constitutes forward-looking statements.
In making the forward-looking statements in this release, the
Company has applied certain factors and assumptions that are based
on the Company's current beliefs as well as assumptions made by and
information currently available to the Company. Although the
Company considers these assumptions to be reasonable based on
information currently available to it, they may prove to be
incorrect, and the forward-looking statements in this release are
subject to numerous risks, uncertainties and other factors that may
cause future results to differ materially from those expressed or
implied in such forward-looking statements. Readers are cautioned
not to place undue reliance on forward-looking statements. The
Company does not intend, and expressly disclaims
any intention or obligation to update
or revise any forward-looking statements whether as
a result of new information, future events or otherwise, except as
required by law.
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 news release.
On Behalf of Richmond Minerals,
Franz Kozich, President
Warren Hawkins, P. Eng, Exploration
Manager
SOURCE Richmond Minerals Inc.