Red Mile Minerals Completes Drilling at its Blue Quartz Property in Beatty Township, near Timmins, Ontario
June 09 2010 - 11:30AM
Marketwired
Red Mile Minerals Corp. (TSX VENTURE: RDM) "Red Mile" announces the
completion of a four hole, 1500 meter, diamond drilling program
(see NR May 10, 2010) on the Blue Quartz gold property located in
Beatty Township 70 kilometers east of Timmins, Ontario and 15
kilometers northwest of the operating Black Fox (formerly Glimmer)
gold mine.
Red Mile has the right to earn 100% of the Blue Quartz Property
(the "Property") under the terms of an Option and Assignment
Agreement dated September 1st, 2008.
Red Mile has completed four holes totaling approximately 1,500
meters of drilling. The program was designed to test the
along-strike potential of the Blue Quartz and No. 2 veins. Each of
the first three holes, RBQ-10-01 to RBQ-10-03, intersected veins at
the projected position of both the Blue Quartz vein and No. 2 vein
systems. A fourth hole, RBQ-10-04, tested only for the No. 2 vein
and intersected the vein at its projected position.
A total of 300 assays were collected and have been submitted to
ALS Chemex for analysis. Assays are pending and will be reported
when received and QA/QC checks completed. Red Mile's drilling is
summarized in Table 1 below.
Table 1: Summary of Drilling
Hole ID UTM North(i) UTM East(i) Azimuth Dip Length (m)
RBQ-10-01 5384062 547422 325 -45 351.1
RBQ-10-02 5384062 547422 340 -51 384.0
RBQ-10-03 5384062 547422 340 -45 357.0
RBQ-10-04 5384151 547212 360 -45 409.0
((i)Coordinates are UTM Zone 17N, NAD 83 datum)
The Blue Quartz property straddles the northwest trending
Painkiller Fault, a splay from the Destor Porcupine Fault Zone
regarded as the primary control to gold mineralization in the
region. The property was mined between 1923 and 1934 with gold
produced from two quartz veins; the 'Blue Quartz vein' and the 'No.
2 vein'. No modern exploration work has been performed testing the
potential for along-strike or down-dip continuation of these
veins.
This drill program follows the recommendations of L. Rioux,
P.Geo. in the NI43-101 Technical Summary Report on the Blue Quartz
Property (dated July 27, 2009) and constitutes the final
requirement stipulated by the TSX Venture Exchange to complete
minimum listing requirements for Red Mile as a Tier 2 issuer.
Qualified Person:
Kerry Sparkes M.Sc., P.Geo and Director of Red Mile is the
Qualified Person responsible for the technical information
contained within this release. Mr. Sparkes implemented and
field-supervised the diamond drill program at Blue Quartz.
On behalf of the Board of Red Mile Minerals Corporation
John Hickey, President and CEO
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 release.
Contacts: Red Mile Minerals Corp. John V. Hickey President &
CEO (416) 637-2139 office@redmileminerals.com
www.redmileminerals.com