Richmond Minerals Inc. Announces Highest Grade Intersection to date with 18.2 g/t Gold over 3 metres at the Ridley Lake Project
Richmond Minerals Inc. Announces Highest
Grade Intersection to date with 18.2 g/t Gold
over 3 metres at the Ridley Lake Project
TORONTO
,
May 6, 2021
/CNW/ -
Richmond Minerals Inc.
(
TSXV: RMD
) ("Richmond" or the
"Company")
is pleased to announce Phase IV diamond drilling results from the Company's Ridley
Lake Project located within the Swayze Greenstone Belt, approximately 37 miles east of Newmont
Goldcorp's
Borden
gold deposit in Raney and Rollo Townships,
Ontario
.
This phase of drilling continued to test the induced polarization ("IP") anomalies characterized by high
chargeability and resistivity identified in the Aguara and Agaura West property areas.
Richmond
completed
2,427.6 m
of diamond drilling in six holes, with each hole being drilled at an azimuth of
180 degrees with an inclination of -45 degrees. The GPS coordinates and of the drill hole collars are
provided below (zone 17):
Hole No.
Easting (m)
Northing (m)
Total Depth (m)
RS20-33
372131
5303581
357.6
RS20-34
372138
5303763
574
RS20-35
372068
5303776
573
RS21-36
371753
5303722
363
RS21-37
371701
5303682
360
RS21-38
372279
5303808
200
Significant results obtained are reported as follows:
Hole No.
Zone
From (m)
To (m)
Width (m)
Grade (g/t
Au)
RS20-33
Aguara West
Including
323
326
337
329
14
3
4.42
18.2
RS20-34
Aguara West
including
including
and
and
482
497
516
518
522
532
498
498
551
519
525
535
16
1
35
1
3
3
0.30
2.89
0.44
2.41
0.83
1.76
RS-21-37
RW-5
33
34
1
3.58
Please note that Hole RS20-38 did not reach its target depth of
550 m
and was stopped at
200 m
due to broken drill rods. Holes RS20-33 and RS20-34 tested the high chargeability and resistivity
RW-1 anomaly located at the western end of the Aguara West Zone. Hole RS20-35 intersected
broad zones of anomalous gold and may define the western limit of the Aguara West zone. Holes
RS21-36 and RS21-37 were collared to test for gold mineralization in the RW-5 IP anomaly located
approximately
300 m
west of the RS20-34 collar location. Hole RS-21-36 also intersected broad
zones of pyrite mineralization with anomalous gold values and Hole RS-21-37 was collared as a
50
m
step out west of Hole RS-21-36. The Aguara West zone remains open to depth and the RW-5
zone remains open to depth and west along strike.
The drill intervals reported above represent axial core 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
Timmins, Ontario
for gold analysis using fire assay with atomic adsorption or
gravimetric finish. Check samples were also submitted to Northern Mining Analytical Labs of
Timmins, Ontario
for gold analysis using fire assay with atomic adsorption and gravimetric finish.
The gold-bearing intervals observed in the drill core are found within various metavolcanic rock types
associated with areas of shear zone development, areas of intense carbonatization, and spatial
association with porphyritic intrusions. Further diamond drilling will be undertaken to test for depth
extensions of gold mineralization in the Aguara West area of the Ridley property.
Richmond
management is also pleased to announce the resumption of exploration work on the
Oberzeiring Polymetallic Property located in the Styria Mining District of
Austria
. Exploration this
spring will be focussed on grab sampling and geophysical surveying (magnetic, self- potential and
IP) of a newly discovered ancient (Celtic or Roman) mining area about 6 km south of the town of
Oberzeiring, and priority target areas Purgstallofen and Dorfgraben located 2.5 km south of the
medieval Oberzeiring silver mine. Grab sampling of Oberzeiring artisanal mining and tailings sites in
2020 yielded values up to 10.5 g/t gold, 76.8 g/t silver, 5,610 g/t copper and 381 g/t cobalt (see
Richmond
news release dated
July 27, 2020
).
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.
On Behalf of Richmond Minerals,
Franz Kozich
, President
Warren Hawkins
, P. Eng, Exploration Manager
CAUTIONARY STATEMENT: This news release contains forward-looking information which is not
comprised of historical facts. Forward-looking information involves risks, uncertainties and other
factors that could cause actual events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking information. Forward looking
information in this news release includes, but is not limited to,
Richmond's
objectives, goals or future
plans, including successful completion of the Transaction. There is no guarantee that the Transaction
will be completed on the terms announced in this press release or at all. Factors that could cause
actual results to differ materially from such forward-looking information include, but are not limited to,
changes in general economic conditions and conditions in the financial markets; the ability of
Richmond
to raise funds pursuant to future offerings, including the second tranche of the Offering;
changes in demand and prices for minerals; litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments, and those risks set out in
Richmond's
public
documents filed on SEDAR. Although
Richmond
believes that the assumptions and factors used in
preparing the forward-looking information in this news release are reasonable, undue reliance should
not be placed on such information, which only applies as of the date of this news release, and no
assurance can be given that such events will occur in the disclosed time frames or at all.
Richmond
disclaims any intention or obligation to update or revise any forward-looking information, whether as
a result of new information, future events or otherwise, other than as required by law.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies
of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
SOURCE
Richmond Minerals Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/May2021/06/c2355.html
%SEDAR: 00009282E
For further information:
Warren Hawkins, P. Eng, Exploration Manager at (416) 603-2114,
CO: Richmond Minerals Inc.
CNW 17:36e 06-MAY-21