Press Release Source: Redcorp Ventures Ltd.
Redcorp Ventures Ltd.-Tulsequah Project: Big Bull Exploration Drilling Update
Monday August 28, 3:24 pm ET
EDIT
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Help Please. I really do not know how to read the
table below with any "intelligence". The silver numbers
jump out at me but the distances seem narrow. Then
again, maybe I got it arse backwards.
Any comments - 1 way or the other appreciated.
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VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Aug 28, 2006 -- REDCORP VENTURES LTD. (TSX:RDV.TO - News) and its wholly-owned subsidiary, Redfern Resources Ltd. (together, the "Company"), are pleased to release additional results from the 2006 surface drilling program at the Company's Tulsequah Project.
Drilling at Big Bull has completed 9509 m of core drilling in 22 holes beneath and along strike of the former mine workings at Big Bull over a strike distance of slightly more than one kilometre. This drilling supplements and extends previous drilling conducted by Redfern in 1993 and 1994 as well as exploration drilling conducted during a period in which the former producing Big Bull mine was operating in the 1950's. The 2006 drilling has proceeded systematically from south to north along the mineralized trend. Results from this first pass will be used to guide the second phase of drilling at the Big Bull Mine target.
To date, results have been received from 13 holes of the 22 holes completed. Results are awaited from the remaining nine holes.
Big Bull Mine - Table of 2006 Program Drill Results
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Estim-
Inter- ated
From To val True Au Ag Cu Pb Zn
Hole ID (m) (m) (m) Width (gpt) (gpt) (%) (%) (%)
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BB06028(i) 136.8 144.0 7.20 6.3 2.75 78.29 0.33 1.10 3.92
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incl.(i) 142.0 144.0 2.00 1.8 6.95 225.84 0.28 2.10 6.55
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BB06029(i) Cut Broad Low Grade Mineralization
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BB06030 216.4 217.4 1.00 0.9 2.30 56.3 0.11 0.98 1.66
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BB06031 305.3 308.0 2.70 2.1 2.79 9.02 0.05 0.15 0.27
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plus 319.0 321.0 2.00 1.5 2.32 91.33 0.12 0.68 1.41
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BB06032(i) 209.0 210.0 1.00 0.9 1.67 183.00 0.51 3.07 10.60
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plus(i) 334.0 341.0 7.00 6.1 2.42 45.85 0.25 0.42 3.69
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BB06033 Cut 6.45 m of Pyrite Facies Mineralization
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BB06034 220.2 223.6 3.42 3.0 0.82 33.24 0.07 0.38 1.03
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BB06035 238.5 240.7 2.22 1.5 4.06 245.08 0.11 2.22 4.10
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BB06036 307.2 307.8 0.65 0.6 1.76 64.20 0.26 2.43 2.95
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BB06037 No Economically Significant Intercepts
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BB06038 315.8 316.5 0.70 0.6 3.62 175.00 less 16.6 31.4
than
0.01
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plus 319.1 323.4 4.25 3.7 8.62 310.93 0.14 4.61 6.76
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including 319.1 319.7 0.55 0.5 29.7 833.00 0.22 17.2 28.1
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BB06039 326.3 329.3 3.00 2.6 0.16 11.58 0.16 0.16 1.64
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BB06040 358.0 358.2 0.28 0.2 21.4 365.00 0.66 9.48 20.6
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plus 432.7 433.8 1.10 0.8 9.16 90.20 0.27 0.37 0.54
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Drilling Results
(i) BB06028, BB06029 and BB06032 - results were previously released on July 24 2006. The news release is available on the company's website at www.redcorp-ventures.com. The drill program commenced at the southern end of the Big Bull trend and generally progressed to the north and up hill along trend.
BB06030 (Section 500N) - cut mineralization on the western limb of the Big Bull Antiform correlates well with the mineralization cut in BB06032 from 209-210 meters. The intercept in BB06032 is approximately 58 metres along strike and 86 metres down dip from this hole. In addition, a broad zone of alteration was cut at the level of the eastern limb, indicating that alteration associated with the mineralizing system is still present.
BB06031 (Section 500N) - cut two "stacked" zones of eastern limb mineralization, approximately 105 meters down dip from the historic mine workings. Mineralization cut in this hole is consistent with previous drill holes.
BB06033 (Section 500N) - intersected 6.45 meters of pyrite-facies mineralization, at a depth that correlates well with eastern limb mineralization. The mineralization was truncated on the hanging wall by what is interpreted to be a flat-lying basalt intrusion. Pyrite-facies mineralization is part of the suite of mineralization styles normally occurring within volcanogenic massive sulphide (VMS) deposits. While this hole lacks economically significant grade, it is important as it demonstrates the continuity of the mineralization.
BB06034 (Section 400N) - cut eastern limb polymetallic mineralization approximately 100 meters along strike from BB06033, and may reflect a lateral transition from pyrite to polymetallic mineralization. This interval was complicated by the presence of what is interpreted to be the same flat-lying basalt intrusion that was cut in BB06033.
BB06035 (Section 400N) - was collared from the same drill pad as was B06034 and undercuts BB06034 by approximately 75 meters. This hole cut high grade east limb mineralization. The flat-lying basalt intrusion that was encountered in the mineralized zones of BB06033 and BB06034 was also intersected in this hole, but was located approximately 100 meters up the hole from the mineralization and did not interfere with the zone.
BB06036 (Section 600N) - cut a thin zone of mineralization approximately 60 meters below existing mine workings.
BB06037 (Section 600N) - did not intersect any mineralized zones. This hole had been designed to test an area below the mine workings that had previously seen only wide-spaced drilling.
BB06038 (Section 700N) - was designed to test for extensions of the Big Bull Mineralization below a mafic body that had been thought to limit the mineralization. This hole undercut previous drillholes by 100 meters to test this interpretation. Two zones of high-grade mineralization were cut; which are amongst the deepest ore intercepts to date at Big Bull. Due to limited drill information at this depth it is difficult to determine if the mineralization in this hole correlates with the west or east limb of the Big Bull Antiform.
BB06039 (Section 800N) - cut eastern limb mineralization and is a step-out of approximately 60 meters from the nearest hole, BB94021, which cut 1.22 g/t Au, 40.43 g/t Ag, 0.8% Cu, 1.38% Pb, and 9.71% Zn over 1.2 meters.
BB06040 (Section 900N) - cut two zones of high-grade mineralization. The upper zone is quite narrow and as such, may not be continuous over significant distances. The lower zone appears to be part of the western limb mineralization. This hole is a 45 meter step-out along strike from BB94023, which cut 1.5 meters of 1.68 g/t Au, 108.2 g/t Ag, 0.1% Cu, 0.1% Pb, and 0.1% Zn.
Plan-views and representative long-section and cross-section views of the Big Bull area are available on Redfern's web-site at www.redfern.bc.ca.
"The results obtained so far from the first pass of exploration drilling at the former Big Bull mine are very positive, as they have established widespread mineralization on the identified target horizon on both sides of the sheared Big Bull anticlinal fold structure," said Redcorp President Terry Chandler. "We are discovering that the Big Bull mineralized zones are more structurally controlled than the deposits at the Tulsequah Chief Mine. The wider intercepts obtained in holes BB08038, BB06028 and BB06032, as well as previous intersections obtained in the 1993/94 exploration period, represent portions of the system where resources may be defined with higher grades and widths. In addition, the Big Bull deposit continues to exhibit more pronounced precious metal content than observed at the Tulsequah Chief deposit."
Tulsequah Project Update
Results above are from Phase 1 drilling at the Big Bull mine site. Company geologists are compiling the results and preparing for a follow-up Phase 2 program. In addition to the Big Bull drilling, a total of 12 exploration holes were recently completed near the Tulsequah Chief Deposit and results are expected shortly. Also, four geotechnical holes were completed to provide data for proposed infrastructure as part of the Company's ongoing feasibility study.
The Company is currently planning to conduct a resource estimate of the Big Bull deposit area, compliant with National Instrument 43-101, on conclusion of the drilling program and is presently discussing the resource estimate requirements and timing with Wardrop Engineering Inc.
Quality Assurances and Controls (QA/QC)
In 1993 and 1994, assays and analyses for the previously-reported drilling were completed at Acme Labs Ltd. in Vancouver, utilizing industry-standard assay techniques. Samples were collected by Redfern personnel under the direction of Robert Carmichael, P.Eng., then Vice-President of Exploration for Redfern.
For the 2006 drill program, sampling has been conducted and supervised by Redfern geologists using established sampling procedures. Samples are shipped directly to Eco-Tech Laboratories in Kamloops for sample preparation, ICP analyses, wet assays for base metals and fire assays for gold and silver, using industry-standard procedures. A comprehensive QA/QC program is in place to ensure sample and assay integrity including field blanks, duplicate samples and standards for base-metals, gold and silver.
Management's Discussion and Analysis ("MD&A") for Fiscal 2005 - Revised
On March 31, 2006, the Company filed an earlier draft and not the final version of its annual MD&A on SEDAR. The discussion provided therein was dated as of March 9, 2006. Simultaneously, the Company also filed on SEDAR and mailed to its shareholders its Annual Report for fiscal 2005 which included the MD&A, however, the discussion provided therein was dated as of March 20, 2006. The earlier draft of the MD&A had been inadvertently filed in error. To address this, the Company has today filed on SEDAR the final version of the MD&A dated as of March 20, 2006, being the same version that was included in its Annual Report.
Redcorp Ventures Ltd. is a Vancouver-based mineral exploration and development company with active projects in British Columbia and Portugal. Further information on Redcorp and the Tulsequah Project can be obtained on the Company's website at www.redcorp-ventures.com and at Redfern's website at www.redfern.bc.ca.
ON BEHALF OF THE BOARD OF DIRECTORS OF REDCORP VENTURES LTD.
Terence Chandler, President
Megan O'Donnell, P.Geo. and Michael G. Allen, P.Geo. are the qualified persons, as defined by National Policy 43-101, supervising the exploration program at the Tulsequah Project. Eco-Tech Laboratories of Kamloops BC is an accredited assay laboratory conducting the sample analyses and assays using standard techniques.
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