Redhawk Resources Announces Results of Exploration Drilling and 2011 Resource Expansion Drilling at Copper Creek Project
- Final drill hole of 2010 district exploration program hits significant mineralization 1550 feet (472m) from existing resource boundary - Additional drill holes confirm new area of mineralization - Seven drill holes completed in 2011 resource expansion and upgrade program - Three core drills and one rotary drill working on 2011 drill program
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/12/11 -- Redhawk Resources, Inc. (TSX: RDK)(OTCQX: RHWKF)(FRANKFURT: QF7) ("Redhawk" or the "Company") is pleased to announce the results from the last hole of the 2010 district exploration holes at Copper Creek and results of an additional exploration drill hole drilled from the same site. Results are also presented for three drill holes of the 2011 resource expansion and definition program. (See attached map for drill hole locations.)
District Exploration holes
Drill hole REX-10-047, the last of the 2010 district exploration holes, was completed with core to a depth of 4007 feet (1221m). The hole is located approximately1550 feet (472m) west of the Keel resource boundary. The vertical hole drifted to the northwest making the mineralized intervals approximately 1650 feet west of the Keel (503m). The core drill hole intercepted several zones of strong continuous porphyry style mineralization from 1,920 feet to 3,852 feet (approx. 585 to approx. 1,174m). Due to the significant visual mineralization in REX-10-047, a second hole REX-11-052 was drilled from the same site and directed N30E -83 degrees to a total depth of 4,128 feet (1258m). REX-11-052 encountered porphyry style mineralization for a distance of 1,743 feet (531m) from 1994 to 3737 feet (608-1139m). Significant intervals for REX-10-047 and REX-11-052 are listed below. A third hole from the same site, REX-11-053 was drilled N70E -83 degrees to a total depth of 3967 feet (1209m). Assays are pending for REX-11-053. True width has not yet been established for the results contained within this press release.
Redhawk believes the drilling results from the three holes drilled from the REX-10-047 site suggest the strong possibility of an area that can be developed into a new resource or possibly be connected across a distance of approximately 500m with the Keel and American Eagle (AE) porphyry resources with additional drilling. The additional drilling will be considered after the resource expansion and upgrade drilling in the 2011 drill program (discussed below) is completed.
2011 Resource Expansion and Upgrade Drill Program
The 2011 drill program has been expanded from 60,000 feet to approximately 100,000 feet (30,480m) and focuses on increasing the connection between the Keel and AE areas and infill drilling to move a considerable portion of the AE resource and more of the Keel resource into the indicated and measured categories in preparation for a Pre-Feasibility study slated for early in 2012. Results from the first hole in the 2011 program, RAE-07-016 were given in a news release dated June 1, 2011. Since that release six additional drill holes have been completed, three core drill holes are in progress, one rotary pre-collar hole completed, and one rotary pre-collar hole is in progress. Assay results for three of the completed holes, RAE-07-017 total depth 3916 feet (1194m), RAE-07-018 total depth 4126 feet (1258m), and RAE-07-019 total depth 4137 feet (1261m) have been received and significant intervals are shown below. Holes RAE-07-017 and RAE-07-018 were step out holes designed to increase the connection of the Keel and AE deposits and hole RAE-07-019 is a infill resource upgrade hole.
Redhawk believes the results from holes RAE-07-016 (reported previously), RAE-07-017, RAE-07-018, and RAE-07-019 will help not only in demonstrating the continuity of mineralization between the Keel and AE but should also increase the total resources of the combined deposits.
R. Joe Sandberg, Redhawk President and CEO, stated, "We believe the area of high potential for discovery of additional porphyry copper/molybdenum deposits within our property holdings is now at least 5 km by 3 km and the three drill holes nearly 0.5 km west of known resources support that possibility. The resource upgrade and expansion drilling between the Keel and AE deposits is very encouraging and in accordance with our expectations. We are proceeding as planned with our resource expansion and upgrades, additional permitting, hydrology, metallurgical and mine optimization efforts to prepare for the Pre-Feasibility Study in early 2012. The outcome of these efforts will continue to increase the confidence level in our Copper Creek project."
R. Joe Sandberg, CPG, Redhawk President, CEO and a Qualified Person under the meaning of NI 43-101, is responsible for the technical content of this news release.
All core samples are picked up on site by Redhawk geologists or delivered by the drillers to Redhawk personnel. All samples are delivered by Redhawk personnel to ALS Laboratory Group ISO 9001:2000 & ISO 17025 in Elko, NV or Reno, NV for assay or to Jacobs Assay Office Registered Assayers in Tucson, AZ for sample preparation to pulps and shipped by Jacobs using UPS to ALS in Reno, NV. Check assay standards are submitted with each assay job, and reviewed for accuracy. Check assaying is being performed by Inspectorate and KD Engineering/Metcon.
To view the map associated with this release, please visit the following link: .
About Redhawk
Redhawk is a Canadian-based resource exploration and development company with primary focus on the accelerated development of its advanced stage Copper Creek copper-molybdenum project in San Manuel, Arizona. The 100% owned Copper Creek property consists of approximately twenty-eight square miles of contiguous patented and unpatented mining claims and state prospecting permits, located about 70 miles northeast of Tucson, Arizona and about 15 miles east of San Manuel. The property is in the prolific southwest US porphyry copper belt at the projected intersection of a major northwest belt of porphyry copper deposits or mines (Ray, Miami/Globe, Superior/Resolution, Johnson Camp) and a major east- northeast belt of porphyry deposits (San Manuel/Kalamazoo, Silver Bell, Lakeshore, Safford, Morenci). The property is within sight of the former BHP Kalamazoo/San Manuel copper smelter and mine and within 30 miles of an existing operating copper mill and smelter. The area is a mining friendly and politically secure location with excellent and readily accessible infrastructure including power, rail, water, roads and qualified consultants.
ON BEHALF OF THE BOARD
R. Joe Sandberg, President & CEO
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, Redhawk does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires Redhawk to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
Neither TSX Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Redhawk Resources, Inc.
J. Stephen Barley
Executive Chairman
604-633-5088
Buick Group Corp.
Jonathan Buick
Investor Relations
416-915-0915
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Datum: 12.09.2011 - 13:06 Uhr
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News-ID 64801
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