Redhill Closes Morgan Rare Earth Acquisition
(firmenpresse) -
Redhill Closes Morgan Rare Earth Acquisition
Redhill Resources Corp., (RHR: TSX-V), ("Redhill" or the "Company") is pleased to report it has closed the mineral claim purchase agreement (announced by the Company January 21, 2011) with Blair Naughty ("Naughty") to purchase a 100% interest in the Morgan mineral claims, located in the Wicheeda carbonatite belt in Central British Columbia (the "Agreement"). The property is approximately 4,200 hectares in size and situated in the vicinity of Canadian International Minerals Ltd. Carbo rare-earth element prospect. The western boundary of the Morgan claims is approximately seven kilometers east of Canadian International Minerals Carbo property.
The Morgan property is also in the vicinity of Spectrum Mining Corp.'s Wicheeda discovery of carbonatite-hosted rare-earth elements. Results from Spectrum's 2008 and 2009 drilling are presented in a paper titled "The Wicheeda Carbonatite-Syenite Breccia Intrusive Complex Hosted Rare Earth Deposit". Within the paper, Spectrum announced the following from 2009 drilling: "Examples of some of the intersections are 144 metres (m) averaging 12,924 parts per million (ppm) (1.3%) Cerium, 6,403 ppm (.64%) Lanthanum and 2,599 ppm (.26%) Neodymium in hole 2009-09 (2.2% REE over 144 m) and 72 m averaging 18,310 ppm (1.83 %) Cerium), 7,296 ppm (.73%) Lanthanum and 3,547 ppm (.35%) Neodymium in hole 2009-07 (2.92% REE over 72 m)." Spectrum also stated "In 2009, eleven diamond drill holes totaling 1,835 meters were drilled into the 'Main Zone' from two new drilling platforms. All eleven drill holes intersected significant rare earth mineralization and the Wicheeda deposit remains open in all directions."
Under the terms of the mineral claim purchase agreement Redhill paid Naughty $10,000 in cash and issued 2.5 million common shares of the Company for the 100% interest.
For further information, please see the company's news release January 21, 2011, which is available under the company's profile on SEDAR.
This news release has been reviewed by Brent Butler, a Qualified Person as that term is defined in NI 43-101.
To find out more about Redhill Resources Corp., please contact investor relations at 604-662-8184 or email investor(at)redhill-resources.com. You may also visit our website at www.redhill-resources.com.
REDHILL RESOURCES CORP.
“Graham Harris”
Graham Harris
Chairman
“The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.”
“This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.”
Leseranfragen:
Redhill Resources Corp.
Suite 2000 - 1177 West Hastings Street
Vancouver , BC V6E 2K3 Kanada
Clive Massey
E-Mail: cmassey(at)redhill-resources.com
Tel: +1 604-662-8184
Fax: +1 604-602-1606
" alt="Goldsource Announces Joint Venture Agreement on 25% of Westcore Energy Ltd.’s Manitoba and Saskatchewan Coal Permits
Datum: 01.04.2011 - 13:57 Uhr
Sprache: Deutsch
News-ID 29003
Anzahl Zeichen: 0
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 194 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Redhill Closes Morgan Rare Earth Acquisition
"
steht unter der journalistisch-redaktionellen Verantwortung von
Redhill Resources Corp. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
