Red Crescent Resources Provides Update on Hakkari Zinc Project
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 03/01/12 -- Red Crescent Resources Limited ("RCR") (TSX: RCB)(FRANKFURT: 7RC), a mineral exploration and development company focused on base metals in Turkey, today announced a summary of its Hakkari Zinc Project exploration results from the period May to November 2011. The exploration program was designed to better understand the geology of the region, particularly to confirm the nature of the Hakkari oxides and also to confirm the existence of significant sulphide mineralization zones.
"Despite being impacted by a number of unanticipated environmental, operational and seasonal factors, we are encouraged by the progress of our overall exploration program in Hakkari," said Mr. Alan M. Clegg, Executive Chairman, President & CEO of Red Crescent Resources. "The results, which continue to validate our view that the region has the potential to become a significant producer of zinc and related base metals, pave the way for our operational plan in 2012.
"To that end, we have significantly strengthened the management team in Turkey at executive and operating levels in the past 90 days. We have also entered partnering arrangements with equipment, technology, consulting services and banking and financing service providers, each of whom has a clear understanding of our vision and strategy and have committed to supporting the operational execution to realize the objectives set."
Highlights of the Hakkari 2011 Exploration Program
RCR previously indicated it had planned to utilize the 2011 season's data and information for an upgrade of the existing NI43-101 resource to approximately 10Mt (at) +15% Zn equivalents (Zn/Pb/Ag). However, as a result of the down-hole survey's of the 15 drilled holes not having been completed to specification by the drilling contractor these surveys will now be re-measured at the start of the new season to bring the hole data with full accuracy into the resource upgrade and updated NI43-101 report planned for early Q3/2012.
A non-compliant estimate calculated by RCR geologists for the new resource generated is 0.5Mt (at) +12% Zn Equivalent on Licence 26, and 2Mt (at) +20% Zn equivalent on the Pentagon north area; for an approximate season total of 2.5Mt (at) +18% Zn equivalent, all potential inferred subject to the drill-hole survey completion at the start of the 2012 season. The total offers potential for an upgrade in the NI43-101 resource for Hakkari Zinc to approximately 4.5Mt (at) +15% Zinc equivalent (675kt Zn equivalent). Further established but not compliant resources lies embedded in the recorded in-situ dimensionally measured and estimated volume of mineralised material from cleanly exposed outcrops in anticlinal (i.e. open on 3 sides) and other structures across the 20km contiguous and adjacent licence package, 5, 8, 9, 10 & 11 of approximately 50Mt (at) +15% Zn equivalent.
The sections and logs below shows the geological units intersected within PENDD014, PENDD015 and PENDD016 boreholes.
To view FIGURE 1 - Pentagon Disseminated Sulphide Samples and Granite Intrusive, please visit the following link: .
To view FIGURE 2 - Pentagon Massive Disseminated Sulphide Sample, please visit the following link: .
To view FIGURE 3 - Pentagon Hole 12 strip log showing mineralised intersections, please visit the following link: .
To view FIGURE 4 - Pentagon Holes 14, 15 and 16 showing mineralised intersections, please visit the following link: .
Murat Sariyildiz RCR Chief Exploration Geologist, Member of Turkish Chamber of Geological Engineers and Alan M. Clegg Pr.Eng FSAIMM, a Qualified Person as defined by National Instrument 43-101, have reviewed and verified the technical information contained in this release.
Forward-looking statements
The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
About Red Crescent Resources
Red Crescent Resources (TSX: RCB)(FRANKFURT: 7RC) is a Turkey-based junior mining company targeting historically inaccessible areas where generally no modern application of exploration techniques, mineralogical and metallurgical assessment or technology has been applied, with potentially significant base metal deposits under development.
RCR's strategic and operational focus is fundamentally under-written by virtue of its situational geography, i.e. within Turkey as one of the fastest growing industrial economies. The sustainability of this growth is dependent upon Turkey's ability to fund the growing balance of payment deficit caused by its continued and accelerating growth in consumption of the main industrial base metal & other mineral commodities; four of the top six are Copper, Zinc, Lead, and Ferro-metals. RCR is the leader in the drive for Turkey to be as far as possible self sufficient by virtue of its ability to produce the key industrial base metal commodities required by 2023. For more information, please visit: .
Contacts:
TMX Equicom
Joe Racanelli
+1 416 815 0700 ext 243
Red Crescent Resources Limited
Alan Clegg
+90 530 662 8964
+90 312 448 2926 (FAX)
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 01.03.2012 - 14:28 Uhr
Sprache: Deutsch
News-ID 120655
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 187 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Red Crescent Resources Provides Update on Hakkari Zinc Project"
steht unter der journalistisch-redaktionellen Verantwortung von
Red Crescent Resources Limited (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
