Redcorp Ventures Ltd.: Tulsequah Project Drilling Update-High Grade Intercept Results
Tuesday May 15, 9:00 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--
May 15, 2007 -- REDCORP VENTURES LTD.
(Toronto:RDV.TO - News)
and Redfern Resources Ltd. ("Redfern"), its wholly-owned subsidiary, (together the "Company"), are pleased to
announce an update on the 2007 exploration drilling program.
Drilling commenced in the Big Bull area
of the Tulsequah Project on April 21, 2007. This release provides information on the initial
drilling in the vicinity of previous hole BB06062, which intersected high-grade massive
sulphides, that was reported in a Company
news release dated November 27, 2006.
The first four holes have been drilled
in the immediate vicinity of this target to
better define the extent and geometry of
the new mineralized horizon. Further
holes are being drilled to test the
mineralized zone extension to the north.
The first 2007 hole, BB07065, was
designed to undercut BB06062 by
approximately 30 meters. Basaltic
intrusives were encountered at the
target depth and no significant
mineralization was found.
Hole BB07066 was collared to
target mineralization approximately
30 meters north along the projected
trend of the 60-62 zone
of mineralization.
The hole returned 6.15 meters (core length) grading
11.34 grams per tonne (g/t) gold,
228.23 g/t silver,
0.51% copper,
11.23% lead and
22.32% zinc.
True thickness of this interval
is estimated to be 3.5 meters.
Inter- True
val Width Au Ag Cu Pb Zn
Hole ID From To (m) (m) (g/t) (g/t) (%) (%) (%)
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BB06062(i) 138.0 145.1 7.08 5.0 20.00 253.42 0.66 11.59 26.63
BB07066 138.2 144.3 6.15 3.5 11.34 288.23 0.51 11.23 22.32
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(i) Intersection previously reported
Visually, the mineralization found in
this hole is similar to that found
in BB06062. In addition, the mineralization
found in the two holes is hosted in
similar geology, and also features
associated footwall alteration.
Company geologists have confirmed
the presence of coarse gold in the
preserved core and have approved
Eco-Tech Laboratories' recommendation
to perform metallic screen fire assays
on the mineralized samples in
hole BB07066. The results of these
assays will be released when available.
BB07067 was collared to test further
north along the projected trend of
the 60-62 zone mineralization.
No massive sulphide mineralization was cut
in this hole but geology similar to
that which hosted the mineralization
in BB07066 was present.
BB07068 was designed to test the
60-62 zone to the south of BB06062.
This hole cut weak alteration similar
to that found below the mineralization
of BB06066 in the position of the
ore horizon. No assay results from
this hole are available at this time.
The Company is working with this new
drillhole information to update
the model for the distribution of
mineralization which will assist in
planning future drillholes.
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 or by calling toll-free to Troy Winsor, Manager of Investor Relations, at 1-888-225-9662.
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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