Logo
Symbole :   
  
Temps Réel | Créer un pseudonyme  |  Mes factures | English  
(NYSE-FTY) - iShares FTSE NAREIT REAL ESTAT Retour
Date Heure Manchette
01 Février 2011 09:30 Redzone Resources Intercepts 0.57% Copper and 0.04% Molybdenum (0.81% CuEq) Over 218 Metres, Including 0.88% Copper and 0.05% Molybdenum (1.19% CuEq) Over 30 Metres
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 1, 2011) - Redzone Resources
Ltd. (TSX:REZ) ("Redzone" or the "Company") reports that in-fill and step-out
drilling has encountered significant copper-molybdenum mineralization at the
Lara property located in the prolific Southern Peruvian Coastal Belt.





-- Step-Out Hole LA10-35 intersects 218m (30-248m) of 0.57% Cu & 0.042% Mo
(0.81% CuEq), including 30m (30-60m) of 0.88% Cu & 0.051% Mo (1.19%
CuEq) and 28m (206-234m) of 0.74% Cu & 0.017% Mo (0.84% CuEq).

-- In-Fill Hole LA10-31 intersects 126m (44-170m) of 0.43% Cu & 0.009% Mo
(0.48% CuEq), including 30m (44-74m) of 0.77% Cu & 0.011% Mo (0.86%
CuEq).

-- In-Fill Hole LA10-30 intersects 126m (46-172m) of 0.32% Cu and 0.015% Mo
(0.41% CuEq), including 30m (46-76m) of 0.69% Cu & 0.015% Mo (0.78%
CuEq).




Michael Murphy, President & CEO of Redzone said, "The initial program
comprised 11 holes covering roughly a 600-by-300 metre portion of the Lara
copper-moly system with results received and compiled for the first five
holes. The discovery of significant moly credits to go along with good copper
grades in holes LA10-35 and LA10-30, which are spaced some 380 metres apart,
opens up the potential of the overall Lara mineralizing system."

Hole LA10-35 was collared approximately 140 metres east of LRC-21 drilled in
1997 (0.76% copper over 36 metre and stopped in mineralization grading 0.46%
copper at 114 metres with no analysis for molybdenum). Along with the copper-
molybdenum grades reported above, hole LA10-35 also returned 0.10 gram gold
per tonne and 1.9 grams silver per tonne over 22 metres from 212-234 metres
downhole.

Hole LA10-30 was collared approximately 380 metres west of hole LA10-35 and 40
metres northwest of hole LDD-14 drilled in 1997 (the hole was terminated at
108 metre with the final 39 metres returning 0.87% copper with no analysis for
molybdenum), while hole 31 was collared approximately 150 metres south of hole
LA10-30.

Hole LA10-29 was collared 90 west of hole LA10-31 and intersected an aplite
dyke that terminated mineralization at 47.4 metres downhole, while hole 28 was
collared 60 metres north- northwest of hole LA10-29 and was terminated in
lower grade mineralization (0.26% Cu) at 90.2 metres downhole.





Initial 2010 Lara Copper-Molybdenum Drill Results
----------------------------------------------------------------------------
Drill From To Length Copper Molybdenum
Hole # (m) (m) (m) (%) (%) CuEq Comments
----------------------------------------------------------------------------
LA10-28 33.40 90.20(i) 56.80 0.27 NSV 0.27 End in Mine-
including 38.85 43.85 5.00 0.56 NSV 0.56 ralization
0.26% Cu
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LA10-29 4.00 47.4 43.40 0.22 NSV 0.22 Mineralizat-
including 35.50 39.25 3.75 0.41 NSV 0.41 ion (last
sample 0.44%
Cu over 1.6
metres)
terminated
by aplite
dyke
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LA10-30 46.00 223.00(i) 177.00 0.28 0.013 0.36
Including 46.00 172.00 126.00 0.32 0.015 0.41
including 46.00 76.00 30.00 0.69 0.015 0.78
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LA10-31 44.00 170 126.00 0.43 0.009 0.48
Including 44.00 74.00 30.00 0.77 0.011 0.86
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LA10-35 30.00 248.00 218.00 0.57 0.042 0.81
Including 30.00 60.00 30.00 0.88 0.051 1.19
Including 206.00 234.00 28.00 0.74 0.017 0.84
----------------------------------------------------------------------------
Table notes:
1. All holes drilled vertically and all intervals are core lengths; Cu
equivalent in per cent calculated using $2.50 (U.S.) per pound copper and
$15 (U.S.) per pound molybdenum, and the following formula: ((percentage
Cu times 22 times price Cu per pound) plus (percentage Mo times 22 times
price Mo per pound)) divided by (price Cu per pound times 22).
2. (i) end of hole.
3. Metallurgical recoveries and net smelter returns are not considered.




The Lara property is favourably located at a moderate elevation only 40-km
from the Pan American Highway near the southern coast of Peru. Redzone
acquired the right to earn up to a 75% interest in the Project from Lara
Exploration Ltd. (TSX VENTURE:LRA) via earning into Minas Dixon BVI ("Minas"),
a wholly owned subsidiary of Lara. Under the agreement, Redzone must spend
US$2.5 million in exploration on the Property and issue 850,000 Redzone common
shares to Lara over a three year term to earn an initial 55% interest in the
Project. Redzone can then elect to earn an additional 20% interest in the
Project by completing a bankable feasibility study and making a one-time cash
payment of US$1.5 million on or before January 28, 2015. Lara retains a 1% net
smelter royalty on all production from the Project. Under the terms of the
agreement, Redzone must spend US$500,000 on or before October 26, 2011 and it
is anticipated that the cost of the initial drill program will meet that
obligation.

Quality Control

The Company has established a rigorous QA/QC program at Lara, which includes
the insertion of blanks, duplicates and certified standards into the sample
stream. Core is photographed on site and subsequently sawed in half, with one
half sent for analysis and the other half stored for future reference and
assay verification. All Lara samples are shipped to CIMM certified laboratory
in Lima, duplicates samples are sent to Als Chemex laboratory, where they are
analysed for copper (Total and Soluble), gold, and multi-element ICP.

Richard Graham, P.Geol., a director of Redzone and a Qualified Person as
defined by National Instrument 43-101 Standards of Disclosure for Mineral
Projects, is responsible for the preparation and content of the technical
information in this release.

About Redzone

Redzone is a mineral exploration company engaged in the acquisition and
exploration of mineral properties with prospects for hosting gold and base
metal deposits. The Company is currently active in Peru on the Lara copper
project and trades on the Toronto Stock Exchange under the symbol REZ.

ON BEHALF OF THE BOARD OF DIRECTORS OF REDZONE RESOURCES LTD.

Michael Murphy, Director, President and CEO

Forward Looking Statements - Certain information set forth in this news
release may contain forward-looking statements that involve substantial known
and unknown risks and uncertainties. These forward-looking statements are
subject to numerous risks and uncertainties, certain of which are beyond the
control of Redzone, including, but not limited to the impact of general
economic conditions, industry conditions, volatility of commodity prices,
currency fluctuations, dependence upon regulatory approvals, the availability
of future financing and exploration risk. Readers are cautioned that the
assumptions used in the preparation of such information, although considered
reasonable at the time of preparation, may prove to be imprecise and, as such,
undue reliance should not be placed on forward-looking statements.




Contact:

Redzone Resources Ltd.
Michael Murphy
Director, President and CEO
604-681-8347




.

Suivez-nous :

FaceBook Link      YouTube Link      Twitter Link
24 Juillet 2014 06:40
Les cotes sont différées de 20 minutes pour New York / Amex et de 15 minutes pour tous les autres marchés.
Les indices et les gagnants / perdants de la page d'accueil sont rafraîchis aux 4 minutes.
Technologie de cotation, données historiques et mises à jour quotidiennes fournies par DECISION-PLUS
Cotations fournies par DTN.
© DECISION-PLUS M.C. inc.    Déclaration de confidentialité    Termes et conditions    Publicité