This one:
Redcorp Ventures Ltd (C-RDV) - News Release
Redcorp drills 11.85 m of 5.24% Zn, 0.98% Cu, 0.85% Pb
2006-11-06 09:01 ET - News Release
Shares issued 112,132,234
RDV Close 2006-11-06 C$ 0.34
Mr. Terry Chandler reports
REDCORP VENTURES LTD.: TULSEQUAH PROJECT; EXPANSION OF NEAR MINE DISCOVERY
Redcorp Ventures Ltd. and its wholly owned subsidiary, Redfern Resources Ltd., have provided an update from its near mine exploration work.
The near mine exploration program was designed to test for new zones of mineralization close to the existing Tulsequah deposit, and to test geophysical targets in the area of conceptual infrastructure within the mine design. A total of 20 holes (including four geotechnical and four condemnation holes) have been drilled in the Tulsequah mine area to date, totalling 5,334 metres.
TULSEQUAH CHIEF DEPOSIT -- 2006 EXPLORATION RESULTS
From To Interval Au Ag Cu Pb Zn
Hole ID (1) (m) (m) (m) (gpt) (gpt) (%) (%) (%)
TC06021 98.0 105.5 7.50 0.27 15.64 0.15 0.61 2.38
TC06021 (2) 122.9 127.6 4.70 1.76 13.61 0.72 0.12 3.99
TC06022 (2) 102.2 105.0 2.85 0.16 5.53 0.02 0.08 4.38
plus (2) 114.2 119.4 5.20 0.11 5.28 0.26 0.53 5.70
including (2) 117.8 119.4 1.60 0.09 9.19 0.40 1.30 15.30
and (2) 126.3 129.2 2.90 2.09 30.17 6.83 0.16 1.51
TC06023 (2) 68.7 81.9 13.25 0.55 21.21 0.37 0.28 5.17
TC06024 no significant assays
TC06025 (3) 111.0 114.3 3.27 0.60 18.41 0.33 0.65 3.98
TC06026 no significant assays
TC06027 111.9 116.4 4.50 0.21 12.46 0.17 0.45 2.91
plus 138.4 150.2 11.85 1.69 177.56 0.98 0.85 5.24
including 138.4 143.3 4.91 3.70 415.16 0.45 2.04 4.57
(1) All holes with the exception of TC06024 and TC06026 targeted the newly
discovered A zone extension. Holes TC06024 and TC06026 targeted the west limb of
the F anticline.
(2) Indicates drill hole results that were previously released on Aug. 30, 2006.
(3) Hole was abandoned due to drilling difficulty before reaching target depth.
Terry Chandler, Redcorp president, stated: "The continuing mineralized intersections on the A zone extension reveal the outstanding potential to add to the known resources at the Tulsequah Chief mine. This zone remains open down plunge and along strike. At present, only a tiny fraction of this potential has been tested by surface drilling in 2006."
Discussion of drilling results
As previously reported, TC06021, TC06022 and TC06023 targeted a 1993 induced polarization survey chargeability anomaly that was interpreted to correspond to a faulted offset of the A zone. The A zone was mined in the 1950s and was truncated by the 4400 fault. The mineralization cut in TC06021, TC06022, TC06023, TC06025 and TC06027 is interpreted to be an off-set extension of the A zone, in an area which is close to existing development but remains completely open for delineation of new resource additions.
TC06025 and TC06027 were immediately collared to follow up on the new mineralization visually evident in the first three holes. TC06025 was abandoned due to drilling difficulty above the main massive sulphide mineralization. However, the final 3.27 metres of TC06025 cut zinc-rich mineralization grading 0.6 gpt Au, 18.41 gpt Ag, 0.33 per cent Cu, 0.65 per cent Pb and 3.98 per cent Zn. This mineralization is similar in nature to the broad zone of zinc mineralization cut in TC06023.
TC06027 was collared at a slight offset to TC06025 and was successfully completed to depth. Two main zones of mineralization were encountered -- zinc-rich mineralization and a polymetallic massive sulphide. The zinc-rich mineralization cut in TC06027 grades 0.21 gram per tonne Au, 12.46 gpt Ag, 0.17 per cent Cu, 0.45 per cent Pb and 2.91 per cent Zn over 4.5 metres. The polymetallic massive sulphide intercept cut by TC06027 is the thickest massive sulphide mineralization cut in the A zone extension to date. Starting at 138.35 metres down hole, 11.85 metres of massive sulphide mineralization were cut grading 1.69 gpt Au, 177.56 gpt Ag, 0.98 per cent Cu, 0.85 per cent Pb and 5.24 per cent Zn. Within the massive sulphide mineralization an interval rich in precious metals was cut from 138.35 to 143.26 metres, grading 3.70 gpt Au, 415.16 gpt Ag, 0.45 per cent Cu, 2.04 per cent Pb and 4.57 per cent Zn. The polymetallic intercept cut in TC06027 is approximately 32 metres southwest of the polymetallic intercept cut in TC06022.
Since initial reporting on Aug. 30, 2006, additional assays have been received for hole TC06021. Assays received after Aug. 30, 2006, have revealed that a zone of zinc-rich mineralization was cut from 98 to 105.5 metres. This interval graded 0.27 gpt Au, 15.64 gpt Ag, 0.15 per cent Cu, 0.61 per cent Pb and 2.38 per cent Zn. The material in this interval is similar to other zinc-rich mineralization cut in the area of the A zone extension.
TC06024 and TC06026 targeted prospective stratigraphy along the western limb of the F anticline. Both holes successfully cut the Tulsequah mine sequence. However, a late-stage mafic dike was encountered in both holes at the position where the ore horizon would otherwise lie. Further work along the western limb of the F anticline is being considered for a follow-up program in 2007.
2006 program update
Three additional drill holes have been completed to test the A zone extension. In addition, Redfern is awaiting results from the Big Bull phase 2 drilling program. Samples from both the A zone extension and Big Bull phase 2 program have been cut and shipped for assay, and results will be released as they are received and compiled. The final hole from the 2006 program was drilled from underground and completed on Oct. 29.
Once all results have been received and included in the geological model, they will be included in the results of updated resource calculations to be performed by Wardrop Engineering Inc. as independent qualified person.
Quality assurances and controls (QA/QC)
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, B.C., 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.
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