TORONTO, Sept. 22, 2016 /CNW/ - Richmond Minerals
Inc. (TSX-V: RMD) ("Richmond" or the "Company") is
pleased to announce Phase II diamond drilling results from the
Company's Ridley Lake Project located within the Swayze Greenstone
Belt, approximately 23 miles due east of Goldcorp's
Borden Lake gold deposit.
This phase of drilling continued to test the well-defined
induced polarization anomaly characterized by high chargeability
and resistivity and a prominent coincidental magnetic anomaly (the
"Aguara East anomaly") at depths beneath the Phase I results
reported last fall and along strike to the east. Richmond completed 1,121 meters ("m") of
diamond drilling in five holes. All holes for this phase of work
were drilled at an azimuth of 180 degrees, and at an inclination of
-45 degrees.
The local grid coordinates of the hole collars are provided in
the table below:
|
Hole
No.
|
Grid East
(m)
|
Grid North
(m)
|
|
RS16-20
|
L0+72
|
1+33
|
|
RS16-21
|
L0+25
|
1+32
|
|
RS16-22
|
L0+69
|
1+57
|
|
RS16-23
|
L1+11
|
1+29
|
|
RS16-24
|
L1+13
|
1+69
|
Holes RS16-20 and RS-22 were collared to test for gold
mineralization beneath RS15-19, Hole RS16-21 was collared to test
for gold mineralization between holes RS15-14 and RS15-19, and
holes RS16-23 and RS16-24 were collared to test for gold
mineralization stepping out to the east along the Aguara East
Anomaly. Results obtained are reported in the table below.
|
|
|
|
|
|
Hole
No.
|
From
(m)
|
To
(m)
|
Width
(m)
|
Grade (g/t
Au)
|
|
RS16-20
|
125.35
|
129.75
|
4.40
|
0.61
|
|
132.80
|
141.00
|
8.20
|
0.38
|
|
|
|
|
|
|
145.00
|
178.00
|
33.00
|
1.26
|
|
including
|
166.00
|
173.00
|
7.00
|
4.11
|
|
and
|
168.00
|
169.00
|
1.00
|
7.64
|
|
and
|
171.00
|
172.00
|
1.00
|
11.30
|
|
RS16-21
|
115.60
|
135.00
|
19.40
|
0.90
|
|
including
|
127.85
|
135.00
|
7.15
|
2.05
|
|
and
|
133.00
|
134.00
|
1.00
|
7.55
|
|
|
|
|
|
|
157.33
|
180.00
|
22.70
|
0.68
|
|
including
|
172.00
|
174.00
|
2.00
|
2.53
|
|
RS16-22
|
181.00
|
209.70
|
28.70
|
0.33
|
|
including
|
185.00
|
186.00
|
1.00
|
2.74
|
|
RS16-23
|
119.54
|
144.06
|
24.52
|
0.48
|
|
including
|
142.00
|
144.06
|
2.06
|
1.56
|
|
RS16-24
|
178.00
|
207.12
|
29.12
|
0.22
|
|
including
|
197.69
|
198.57
|
0.88
|
1.12
|
The drill intervals reported above represent core intersection
length and true widths are not known at this time. A QA/QC
program was employed consisting of inserting laboratory prepared
standards and blanks and duplicates into the core sample stream.
Samples were submitted to Activation Laboratories of Ancaster, Ontario (independent from
Richmond) for gold analysis using
fire assay with atomic adsorption or gravimetric finish.
The gold-bearing intervals are associated with several
geological features observed in all drill holes which include areas
of shear zone development, areas of intense carbonatization, and
spatial association with porphyritic intrusions. Richmond management is extremely pleased with
these results, particularly with those in hole RS16-20, which are
among the best obtained to date from the Ridley Lake Property.
The Company is planning a third phase of diamond drilling for
the upcoming fall season with a view to test for higher-grade gold
intervals at depth and along strike to the east.
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.