Red Crescent Provides Geological and Exploration Update on Hakkari Zinc
- Confirms higher grade drill intersections and assay results -
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 10/14/11 -- Red Crescent Resources Limited (TSX: RCB), a mineral exploration and development company focused on base metals in Turkey, today announced that assay results have been received for four trenches and two boreholes that form part of its 2011 exploration program at its Hakkari Zinc Project. All grades reported have been calculated from assay results supplied by ALS Chemex (Vancouver) and have been subject to, and have passed, QA/QC (Quality Assurance/Quality Control) protocols.
Licence 26 - Hakkari:
The trenches, excavated vertically through a gently dipping (approx. 20 degrees) iron-rich mineralised zone form part of the surface exploration activities on the newly acquired Licence 26 west of Hakkari, where new underground access decline shaft portals are being prepared for development of a mine infrastructural backbone and exploration drilling platform to delineate the extent of the resources and reserves within the licence area.
Trench results on Licence 26 show Zn grades varying between 2.3 and 3.1% Zn over the mineralised zone that has a minimum true thickness of approximately 5 meters. These results are summarised below:
All four of the trenches exhibit visible mineralisation in the footwall and given the multi-layered nature of the mineralisation previously reported in the NI 43-101 Technical Report on the Hakkari Zinc project, the potential exists for additional mineralised layers beneath the exposed main mineralised layer exposed and sampled in the trenches. Further, it must be noted that the high grade smithsonite (17% to +40%, handheld field XRF measured), zonal and potentially localized occurrence of mineralised blocks excavated within the trenches, as well as the sporadic crystalline sphalerite observed from secondary/tertiary mineralisation phases was excluded herein to obviate potentially skewing of bulk grades, but could represent significant upside if proven to be pervasive during the tunneling of the planned Decline shafts within the mineralised zone.
Pentagon Licence:
The boreholes, drilled on RCR's Pentagon Licence, have now intersected the main mineralised zone partially delineated during the 2010 programme and these two boreholes intersected the mineralised zones at depths consistent with the existing geological model.
Bulk grades and widths (uncorrected for dip ranging from 20-65 degrees) for the entire mineralised package intersected in each of these holes are:
Core recovery over the mineralised zone is highly variable with several zones of no recovery noted due to the extremely friable nature of the mineralised material. These intervals of no recovery have been assigned zero grades for the purposes of the calculations and the grades stated above are therefore considered conservative.
Short term Planned Work:
Planned activities underway on the Pentagon and onto licence No.8 include extensive underground channel sampling and fan drilling from both existing and newly developed underground tunnels within the thick mineralised zone, with a view to upgrading the existing non-compliant resource to a code-compliant, indicated + measured mineral resource by late Q1, 2012. Surface drilling activities will continue to test the mineralised zone southwards from the current resource area, with an expected two to three underground core drilling machines being deployed as far as possible within the normal winter period.
Additionally, subsequent to the recent insolvency of the appointed drilling contractor, Red Crescent has taken possession of one drilling machine and accessories, while adding an additional machine with crews, and drilling has started on Licence 5 continues to enable drill testing of two steeply dipping, extensively outcropping zones with known high-grade (in excess of 30% Zn) grab sample results.
"We are pleased we have turned the corner on our Hakkari drilling program and that we are seeing the sort of results and potential that we have expected," remarked Alan M. Clegg, Red Crescent Chairman and CEO. "By aggressively implementing our strategy that we announced in the press release of August 25, 2011, I am confident that Hakkari should from now on begin to show its full potential in a much shorter period than would have been the case."
Mike Robertson, a Qualified Person as defined by National Instrument 43-101, has 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) is a Turkey-based junior mining company targeting historically inaccessible areas where no modern application of exploration techniques or technology has been applied, with high potential for discovery of significant base metal deposits. For more information, please visit: .
Contacts:
TMX Equicom
Joe Racanelli
+1 416 815 0700 ext 243
Red Crescent Resources
Alan Clegg
+90 530 662 8964 or +27 82 469 8378
+90 312 448 2926 (FAX)
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Datum: 14.10.2011 - 14:51 Uhr
Sprache: Deutsch
News-ID 76313
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