Jan 21 2011
Rio Novo Gold Inc. (TSX:RN)(TSX:RN.WT) has reported additional drill results from its ongoing drilling program at its 100%-owned Almas Gold Project, located in the State of Tocantins, Brazil.
The 2010 diamond drilling program at Almas has been completed with 39,745 metres of which 29,416 have been assayed. At the Paiol target 21,662 metres have been completed, comprising 14,567 metres of infill drilling, 5,753 metres of extension drilling and 1,342 metres of metallurgical drill holes. At the Arroz target 14,202 metres have been completed; split between 3,864 metres of infill drilling, 10,036 metres in extensions to the original discovery and 302 metres in metallurgical drill holes. A total of 9,929 metres remain to be assayed, which is equivalent to 25% of the total 2010 drilling program.
Newly assayed results from the Paiol infill program include 45 infill holes totalling 7,089 metres. In addition, at Paiol, 5 initial RC holes from the Waste Dump area have been received, along with 136 holes from the former Leach Pad, including 59 RC holes and 77 auger holes. From the Arroz target, 18 drill holes have been assayed, comprised of 1 infill and 17 extensions, for a total of 2,343 metres.
Highlights Include:
Paiol Area
The results received from the infill program at Paiol continue to confirm continuity of mineralization in areas with current indicated and inferred resources, which will contribute significantly to the conversion of the inferred resources into the measured and indicated categories ahead of the feasibility study stage.
Paiol Extension Drilling Program
In 2010, Rio Novo initiated a generative program in the Paiol area with the objective to investigate the continuity of mineralization north and south of the existing Paiol pit. Results received to date warrant the continuation of the exploration campaign in these areas as they have been successfully outlining new zones of near-surface mineralization at both ends of the Paiol Pit.
The northern extension beyond the Paiol pit is open in two directions, one N30°E and the other north north-west (NNW). The N30°E trend extends to over 200 metres to the north-east. Initial drilling has returned both shallow and deeper intercepts such as:
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FPD-024 – 8.0m @ 0.55 g/t Au (from 4.0m to 12.0m)
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FPD-084 – 18.0m @ 0.77 g/t Au (from 0.0m to 18.0m)
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FPD-086 – 8.0m @ 0.57 g/t Au (from 29.0m to 37.0m)
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FPD-109 – 4.10m @ 4.51 g/t Au (from 156.0m to 160.1m)
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FPD-109 – 14.75m @ 0.62 g/t Au (from 68.25m to 83.0m)
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FPD-121 – 10.0m @ 3.25 g/t Au (from 27.0m to 37.0m)
The NNW trend extends 130 metres and remains open further to the north. This area has also returned 4 intercepts near-surface and one deeper, such as:
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FPD-025 – 21.7m @ 0.45 g/t Au (from 31.3m to 53.0m)
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FPD-057 – 8.55m @ 0.93 g/t Au (from 34.45m to 43.0m)
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FPD-090 – 14.45m @ 0.45 g/t Au (from 20.0m to 34.5m)
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FPD-113 – 8.0m @ 0.70 g/t Au (from 23.0m to 31.0m)
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FPD-113 – 5.5m @ 4.41 g/t Au (from 181.55m to 187.1m)
There is also a 300 metre southern extension beyond the Paiol pit boundary with shallow intercepts such as:
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FPD-0112 – 11.0m @ 1.34 g/t Au (from 36.0m to 47.0m)
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FPD-0117 – 12.4m @ 1.11 g/t Au (from 72.0m to 84.4m)
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FPD-0122 – 12.75m @ 1.2 g/t Au (from 76.0m to 88.75m)
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FPD-0124 – 15.5m @ 0.94 g/t Au (from 42.5m to 58.0m)
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FPD-0125 – 23.75m @ 0.82 g/t Au (from 51.0m to 74.75m)
Arroz Area
At Arroz (Cata Funda target), one further infill drill hole (FAD-0085 with 9.3m @ 2.28 g/t Au) was received. This result is consistent with previously reported infill results. The results of the infill program to date indicate that the Cata Funda deposit will add to the existing resource base of the Almas Gold Project.
Arroz Extension Drilling Program
Drilling assay results from the north extension of the Cata Funda target (Arroz north) indicates the continuity of a mineralized zone with a potential NNW trend of at least 500 metres showing encouraging gold intercepts. Further infill diamond drilling has been planned to follow up the positive results received to date.
Paiol Leach Pad and Waste Dump
Paiol Leach Pad
As part of the assessment of the potential gold content of the Paiol spent heap leach pad left by Vale, Rio Novo has undertook a 25 metre grid drilling program with 166 auger holes (1,216 metres) and 59 Reverse Circulation (RC) holes (728 metres). The drilling program on the leach pad has been completed and Rio Novo expects the results to be included in the next resource update being prepared for the PEA, scheduled to be published at the end of the first quarter of 2011.
Assay results have confirmed the remaining ore grade material left in this "stockpile", showing good distribution of gold intercepts throughout the grid, including some significant Au intervals and grades, such as:
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TRP-0108 – 11.0m @ 1.38 g/t Au (0.0m to 11.0m)
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TRP-0162 – 14.0m @ 0.96 g/t Au (0.0m to 14.0m)
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FPRC-0020 – 10.0m @ 1.02 g/t Au (0.0m to 10.0m)
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FPRC-0025 – 12.0m @ 1.45 g/t Au (0,0m to 12.0m)
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FPRC-0027 – 11.0m @ 1.07 g/t Au (0,0m to 11.0m)
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FPRC-0028 – 10.0m @ 2.09 g/t Au (0,0m to 10.0m)
Paiol Waste Dump
At the Paiol Waste Dump, which remains from the previous operation, 5 five RC holes have been drilled from surface covering about 400 meters of the length of the dump in a north-south direction. Assay results have shown gold intercepts in all 5 holes, indicating the potential to add part of the dump to the resource base of the Almas Project. Additional RC drilling has been planned for 2011 in order to further delineate this potential resource.
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FPRC-0060 – 31.0m @ 0.38 g/t Au; including 1.0m @ 2.07g/t Au
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FPRC-0061 – 21.0m @ 0,40 g/t Au; including 1.0m @ 1.84 g/t Au
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FPRC-0062 – 21.0m @ 0.57 g/t Au; including 1.0m @ 1.45g/t Au
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FPRC-0063 – 19.0m @ 0.30 g/t Au; including 1.0m @ 1.04 g/t Au
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FPRC-0064 – 18.0m @ 0.61 g/t Au; including 8.0m @ 0.81g/t Au
Sample Preparation, Analyses and Security
The assay and sample information as well as geological descriptions are taken from drill logs as prepared by the project geologists for the drilling program. Drilling data is validated and sent to GIS-database management at Rio de Janeiro office.
Drill core is split on site with one half of the core being sent to SGS-Geosol's sample preparation facility in the city of Goiania in Goiás Prepared pulps are analyzed at SGS-Geosol's analytical facilities at Vespasiano near Belo Horizonte, in Minas Gerais State, Brazil. High grade samples are routinely analyzed by metallic screen fire assay and that number is used as the accepted value. SGS-Geosol warrants the "chain of custody" of the samples in accordance with the standards required by Canadian NI 43-101.
Qualified Person
Mr Ronald Simpson, P.Geo, who is a Qualified Person as set out in Canadian National Instrument 43-101, has reviewed and verified the technical content of the information contained in this release.
Source: Rio Novo Gold Inc.