This phase of drilling continued to test the induced polarization ("IP") anomalies characterized by high chargeability and resistivity identified in the Aguara and Agaura West property areas. Richmond completed 2,427.6 m of diamond drilling in six holes, with each hole being drilled at an azimuth of 180 degrees with an inclination of -45 degrees. The GPS coordinates and of the drill hole collars are provided below (zone 17):
Hole No. | Easting (m) | Northing (m) | Total Depth (m) |
RS20-33 | 372131 | 5303581 | 357.6 |
RS20-34 | 372138 | 5303763 | 574 |
RS20-35 | 372068 | 5303776 | 573 |
RS21-36 | 371753 | 5303722 | 363 |
RS21-37 | 371701 | 5303682 | 360 |
RS21-38 | 372279 | 5303808 | 200 |
Significant results obtained are reported as follows:
Hole No. | Zone | From (m) | To (m) | Width (m) | Grade (g/t |
RS20-33
| Aguara West Including | 323 326 | 337 329 | 14 3 | 4.42 18.2 |
RS20-34
| Aguara West including
including and and | 482 497
516 518 522 532 | 498 498
551 519 525 535 | 16 1
35 1 3 3 | 0.30 2.89
0.44 2.41 0.83 1.76 |
RS-21-37 | RW-5 | 33 | 34 | 1 | 3.58 |
Please note that Hole RS20-38 did not reach its target depth of 550 m and was stopped at 200 m due to broken drill rods. Holes RS20-33 and RS20-34 tested the high chargeability and resistivity RW-1 anomaly located at the western end of the
The drill intervals reported above represent axial core length and true widths are not known at this time. A QA/QC program was employed consisting of inserting laboratory prepared standards and blanks and duplicates into the core sample stream. Samples were submitted to
The gold-bearing intervals observed in the drill core are found within various metavolcanic rock types associated with areas of shear zone development, areas of intense carbonatization, and spatial association with porphyritic intrusions. Further diamond drilling will be undertaken to test for depth extensions of gold mineralization in the Aguara West area of the Ridley property.
Richmond management is also pleased to announce the resumption of exploration work on the Oberzeiring Polymetallic Property located in the
On Behalf of
CAUTIONARY STATEMENT: This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Richmond's objectives, goals or future plans, including successful completion of the Transaction. There is no guarantee that the Transaction will be completed on the terms announced in this press release or at all. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in general economic conditions and conditions in the financial markets; the ability of Richmond to raise funds pursuant to future offerings, including the second tranche of the Offering; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments, and those risks set out in Richmond's public documents filed on SEDAR. Although Richmond believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Richmond disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
SOURCE
© Canada Newswire, source