Sorry I hogged the thread today. But this whole RNG trip was spectacular. I told my buddy Brad last night that if we got a positive response to the 45 meters of .76 nickel today to load up--well I guess we got that-lol!
I personally believe RNG wts coudl go to $5 in short order.
Monday will tell us a lot.
Rio Narcea Gold Mines Ltd (C-RNG) - News Release
Rio Narcea drills 45.40 m of 0.74% Ni at Aguablanca
2007-02-22 17:26 ET - News Release
Shares issued 164,116,512
RNG Close 2007-02-22 C$ 3.38
Mr. Chris von Christierson reports
RIO NARCEA GOLD MINES, LTD.: AGUABLANCA EXPLORATION DRILLING CONFIRMS DEPTH EXTENSIONS OF MAIN MINERALIZED ZONE
Rio Narcea Gold Mines Ltd. has released the results of the first five holes, which were designed to test for extensions at depth of the main mineralized zone at the Aguablanca deposit (main orebody). All five holes have intersected wide intervals of strongly disseminated, semi-massive, as well as massive, sulphide mineralization. These holes have been drilled perpendicular to the mineralized zone and confirm the connection between the deep body and the open pit mineralization. Additionally, they are all located in close proximity to the existing 2.7-kilometre decline, which will facilitate both the next infill drilling program and future potential underground mining.
These holes were drilled on sections 7350E, 7300E and 7175E.
The main orebody is currently mined by open pit. These five holes drilled into the deep body indicate a strong potential for underground mining.
The most recent hole, AGU-1058, has confirmed the link between the main orebody and the deep body in Section 7350. It intersected 45.40 metres at 0.74 per cent nickel and 0.72 per cent copper, including a higher-grade interval of 10.20 metres at 2.18 per cent Ni and 1.21 per cent Cu, which in turn included a 2.20-metre interval of massive sulphides grading 5.44 per cent Ni and 1.52 per cent Cu.
The same hole, AGU-1058, also encountered a new and possible parallel zone of mineralization located 50 metres to the north of the main orebody. It intersected 3.60 metres at 1.04 per cent Ni and 0.66 per cent Cu.
The nickel sulphide mineralization in sections 7300E and 7350E has been extended for 245 metres and 225 metres, respectively, below the planned bottom of the open pit.
In Section 7175E, a mineralized interval of 3.75 metres at 0.92 per cent Ni and 0.39 per cent Cu was intersected 140 metres below the planned pit bottom.
Three drill rigs are currently dedicated to this program to expand the main orebody. In view of these positive results, an additional rig is being mobilized.
The nickel and copper assay results are tabulated in the table, "Aguablanca nickel deposit."
AGUABLANCA NICKEL DEPOSIT
0.5% Ni cut-off 1% Ni cut-off
DDH Length Ni Cu Length Ni Cu
AGU-1053 19.65 0.82 0.78 5.15 1.39 0.97
2.05 1.07 1.12
AGU-1055 28.30 0.68 0.57 12.20 1.18 0.80
AGU-1056 26.05 0.80 0.57 12.40 1.18 0.65
2.05 1.23 0.73
AGU-1058 45.40* 0.74 0.72 10.20 2.18 1.21
Incl. 22.00 5.40 1.50
3.60 1.04 0.66 3.60 1.04 0.66
AGU-117 3.75 0.92 0.39
* 0.4-per-cent Ni cut-off
The data in this release were prepared by Luis Rodriguez Pevida, acting vice-president of exploration for Rio Narcea, who is a qualified person for the purposes of National Instrument 43-101.
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