ROF Receives Preliminary Heliborne Geophysical Results and Signs Drill Contract; Proposes Company Name Change
(firmenpresse) - TORONTO -- (Marketwire) -- 01/12/12 -- . (the "Company" or "ROF") (TSX VENTURE: ROF) (FRANKFURT: RG5) (PINKSHEETS: HWKPF) is pleased to announce that the company has received preliminary heliborne geophysical results from its recently completed 6,439 line kilometres of Heliborne Mag, TEM, VLF and Radiometric survey over parts of Project 81, in the Timmins area of Northern Ontario. The Heliborne survey outlined the magnetic body with potential nickel mineralization with such great clarify and details that we are confident in spotting drill holes and to start drilling this target in the near future. Also, the Gradiometer Magnetics and EM Survey over the Lucas Gold target provided great clarity and details explaining the reasons that a number of holes in a previous drilling campaign missed the target. More details will be released when the final results are received.
The Company has also signed a 5,000 meter drill contract with of Timmins Ontario to test and confirm Nickel and Gold mineralization from previous drilling (see ROF news releases Dec 1, 2011 & Dec. 5, 2011) dating back to the 1960's and 1980's. A drill rig has been mobilized and drilling is expected to commence on the Kingsmill Nickel target within the next few days. Concurrent with the nickel-target drilling scheduled for January 2012, a 45 line km grid will be cut over the Lucas Gold target in order to conduct a ground geophysical IP survey before spotting drill holes on this target.
In order to more properly reflect the major thrust of the Company's endeavours, the Company also announces that at the upcoming Shareholders' meeting scheduled for February 28th, it will ask shareholders to approve a name change to
Project 81 is a 70,090 hectare patented land package divided into 2 blocks. The patents include surface, mineral and timber rights, and host a significant timber resource plus a number of zones that have historical exploration identifying nickel and gold mineralization (these sample results are historical and non 43-101 compliant) from work carried out in the 1960's and 1970's some of which have been previously announced.
Ring of Fire Resources Inc. is a Canadian based junior exploration company holding in excess of 70,000 hectares of property in the Timmins, Iroquois Falls and Smooth Rock Falls areas of Northern Ontario, upon which it plans to develop and implement an exploration program for the balance of 2011 and 2012. It also holds a portfolio of diversified exploration projects at various stages of exploration and drilling for Vanadium/Nickel/Copper/Chromium/PGM in the 'Ring of Fire' McFauld's Lake Area of Northern Ontario, Gold in the Wawa area of Northern Ontario, and Uranium in Northern Saskatchewan.
More detailed information is available on the website at
Neither 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Ring of Fire Resources Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Ring of Fire Resources Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Ring of Fire Resources Inc.
H. Vance White
President
Phone: 416-214-2250
Fax: 416-367-1954
Corinna de Beer
Investor Relations
Phone: 416-792-0343
EMail:
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Datum: 12.01.2012 - 18:23 Uhr
Sprache: Deutsch
News-ID 103754
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TORONTO
Kategorie:
Mining & Metals
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