Richmond Minerals Inc. Continues to Intersect Broad Zones of Gold Mineralization in Phase 3 Diamond Drilling
Richmond Minerals Inc. Continues to Intersect Broad Zones of
Gold Mineralization in Phase 3 Diamond Drilling
TORONTO
,
Oct. 18, 2017
/CNW/ - Richmond Minerals Inc.
(
TSX-V: RMD) ("Richmond" or the "Company")
is pleased to announce
Phase 3 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 at the far
eastern end of the Aguara East Zone and to test for depth extensions of gold mineralization reported during the initial diamond drilling in the central
Aguara Zone in 1989.
Richmond
completed 2,258 meters ("m") of diamond drilling in nine holes. All holes for this phase of work were drilled at an
azimuth of 180 degrees, at inclinations of -45 or -60 degrees.
The GPS coordinates (zone 17) and inclinations of the drill hole collars are provided below:
Hole No.
Easting (m)
Northing (m)
Inclination
RS17-25
372947
5303646
-45
RS17-26
372886
5303607
-45
RS17-27
372875
5303654
-45
RS17-28
372875
5303654
-60
RS17-29
372555
5303553
-45
RS17-30
372555
5303553
-60
RS17-31
372545
5303597
-60
RS17-32A
372410
5303564
-45
RS17-32B
372398
5303589
-45
Hole RS17-32A did not reach its target depth and was stopped at 28 m after encountering a wide fault zone. Hole RS17-25 was collared to test a
magnetic anomaly located just east of the Aguara East IP anomaly and did not return any significant gold values. Results obtained for all remaining
holes are reported as follows:
Hole No.
Zone
From (m)
To (m)
Width (m)
Grade (g/t Au)
RS17-26
Including
Aguara East
25.30
26.3
59.98
28.3
34.65
2
0.25
2.1
RS17-27
Aguara East
107
140
33
0.25
RS17-28
Aguara East
253
271
17
0.29
RS17-29
Including
Central
Aguara
44
163
174
174
130
9
0.22
0.9
RS17-30
Including
and
including
Central
Aguara
133
182
222
231
269
183
240
234
136
1
18
3
0.31
4.5
1.3
2.9
RS17-31
Including
and
Central
Aguara
227
285
341
353
294
346
126
9
5
0.25
1.1
2.1
RS17-32B
Including
including
Central
Aguara
153
226
238
271
259
240
112
33
2
0.26
0.7
5.3
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
(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 the drill core which include areas of shear zone development,
areas of intense carbonatization, and spatial association with porphyritic intrusions. Considering that mineralized zones appear to be broadening
with depth in the central Aguara Zone, further diamond drilling will be undertaken to test for depth extensions of gold mineralization in this area of
the property.
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,
Warren Hawkins
, P. Eng, Exploration Manager
SOURCE
Richmond Minerals Inc.
View original content: http://www.newswire.ca/en/releases/archive/October2017/18/c2304.html
%SEDAR: 00009282E
For further information:
Warren Hawkins, P. Eng, Exploration Manager at (416) 603-2114
CO: Richmond Minerals Inc.
CNW 09:00e 18-OCT-17