Redhawk Receives Major Permit From the State of Arizona for Underground Development of the Copper Creek Project
Tue Aug 25, 8:30 AM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 25, 2009) - Redhawk Resources, Inc. ("Redhawk" or the "Company") (TSX VENTURE: RDK.V)(FRANKFURT:QF7) is pleased to announce its wholly owned subsidiary Redhawk Copper, Inc. received the Aquifer Protection Permit (APP) from the Arizona Department of Environmental Quality (ADEQ) for the proposed underground exploration and development of its wholly owned Copper Creek Project in Pinal County Arizona. The APP is the major permit required for commencement of activities to access, complete exploration, and develop for production the significant near surface copper and molybdenum breccia hosted NI 43-101 compliant resources and gain access to the deeper underlying porphyry style copper and molybdenum resources.
Copper Creek Permitting
The APP issued by ADEQ is the primary permit required to begin underground work at Copper Creek under Arizona State and Federal EPA regulations. Additional permits will be required before commencing development activities, however, most of these are state, county, and local and require much less time and expense to receive. Considerable ground work for the additional permits has already been completed. The APP was issued more than 18 months after the initial application and involved more than one year of ground water quality testing and monitoring, testing of rock chemistry, and detailed engineering prior to the application.
The APP allows for underground decline and drift access to four of the major breccia deposits with existing resources and continued decline development to reach the deeper porphyry style resources below and adjacent to the breccias. Current NI 43-101 compliant resources in the breccia deposits based on a Cu equivalent cutoff of 0.75% are a combined measured and indicated 7.341 million tons with a Cu equivalent grade of 1.66% and an inferred resource of 2.272 million tons with a Cu equivalent grade of 1.63%. Based on a Cu equivalent cutoff of 0.60% the porphyry resource estimate is an indicted 20.03 million tons with a Cu equivalent grade of 1.04% and an inferred resourced of 156.13 million tons with a Cu equivalent grade of 0.88%. The combined resources contain approximately 3.4B pounds of Cu equivalent.
Stephen Barley, Managing Director of Redhawk Resources, stated, "The receipt of the APP from the State of Arizona ADEQ is a major step forward in the development of the Copper Creek Project and is the culmination of many years of work on the property. It is another positive indication that there are no fatal flaws that will prevent Copper Creek from becoming an operating copper mine and also means the project is two years closer to production."
The assessment above is preliminary in nature. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the preliminary assessment will be realized.
R. Joe Sandberg, CPG President of Redhawk Resources, is the qualified person within the meaning of N1 43-101 who supervised the preparation of the information that forms the basis of this news release.
About Redhawk
Redhawk is a Canadian-based resource exploration and development company with primary focus on the accelerated development of its advanced stage Copper Creek copper-molybdenum project near San Manuel, Arizona. The Company also has a gold/silver property in Nevada.
The 100% owned Copper Creek property consists of approximately seven square miles of almost totally contiguous patented and unpatented mining claims and state prospecting permits, located about 70 miles northeast of Tucson, Arizona and about 15 miles east of San Manuel. The property is in the prolific southwest US porphyry copper belt at the projected intersection of a major northwest belt of porphyry copper deposits or mines (Ray, Miami/Globe, Superior/Resolution, Johnson Camp) and a major east-northeast belt of porphyry deposits (San Manuel/Kalamazoo, Silver Bell, Lakeshore, Safford, Morenci). The property is within sight of the former BHP Kalamazoo/San Manuel copper smelter and mine and within 30 miles of an existing operating copper smelter. The area is a mining friendly and politically secure location with excellent and readily accessible infrastructure.
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, Redhawk does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires Redhawk to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contacts
J. Stephen Barley
Redhawk Resources, Inc.
Managing Director
604.633.5088
Tasso Baras
Redhawk Resources, Inc.
Investor Relations
604.738.3882 or Toll Free: 778.738.3882
inquiries@redhawkresources.com
www.redhawkresources.com |
