Redhawk Resources, Inc. (TSX VENTURE:RDK)(FRANKFURT:QF7) has announced that the second drill hole completed with core testing new target areas encountered significant mineralization over 1.5 kilometers from the nearest defined deep resource on the Copper Creek property, supporting the potential for significant expansion within the district.
- Drilling confirms large size of porphyry system at Copper Creek
- High grade copper and molybdenum intervals in Core Drill Hole REX-10-048
- Third Core Drill Hole REX-10-049 completed, assaying in progress
- Fourth Core Drill Hole REX-10-050 completed, assaying in progress
- Targets are 1 to 2 km away from the known porphyry style resources
Hole REX-10-048 encountered numerous zones of plus 0.1% copper associated with classic porphyry copper style alteration. The best intervals are 3771 feet to 3775 feet, 4 feet of 3.94% Cu, 0.016% Mo, 7.75 ppm Ag and 3690 feet to 3706 feet, 16 feet of 0.22% Cu and 0.083% Mo (including 10 feet of 0.11% Cu and 0.131% Mo). The drill hole went to a total depth of 4010 feet and was still encountering fractures with chalcopyrite + bornite coatings.
The third core hole, REX-10-049, has been drilled to a total depth of 3772 feet before being lost due to drilling conditions. Hole REX-10-049 encountered long intervals of what is estimated to be low grade copper mineralization in veinlets and dissemination in intrusive rocks and was still in the mineralization when lost. Assays for hole 049 are pending. The fourth core hole, REX-10-050, has been drilled to a total depth of 3967 feet. Hole 050 encountered fine grained diabase (one of the mafic host rocks targeted), andesitic volcanics, and Paleozoic sedimentary rocks before entering intrusive rocks at depth. Portions of the andesite and diabase are strongly pyritized and altered. Sampling and assaying of hole 050 are in progress. Drilling of the fifth core hole, REX-10-051, is in progress.
Copper Creek covers approximately seven square miles. Almost all drilling to date has been focused on approximately 20% of the property and has resulted in a substantial resource hosted in intrusive rocks. As announced in May 2010, the Company is undertaking an exploration drill program on previously untested areas in the Copper Creek District with potential to host higher grade mineralization in mafic host rocks, such as andesite, diabase and gabbro in addition to the intrusive. All new areas being explored are well removed from the current resources and historical district exploration holes. The intent of the program is to show the upside potential for larger and additional resources in the entire district as well as higher grade resources in different host rocks.
The rotary drilled pre collars are drilled to approximately 2,000 feet depth if possible at which point the core drilling of the intended target zones commences.
Joe Sandberg, President of Redhawk stated: "We are very encouraged that all of the drilling so far, both rotary pre collars and core holes, is confirming the magnitude of the potential of the Copper Creek porphyry system. We have a large system that has received limited exploration outside of the current resource area. While the first two holes completed with core drilling have not encountered thick intervals of potentially economic mineralization, they are confirming the size of the strongly copper and molybdenum mineralized area. We believe that continued drilling will discover the thicker intervals of high grade copper and molybdenum."
R. Joe Sandberg, CPG, Redhawk's President, CEO and a Qualified Person under the meaning of NI 43-101, is responsible for the technical content of this news release.
All core samples are picked up on site by Redhawk geologists or delivered by the drillers to Redhawk personnel. All samples are delivered by Redhawk personnel to ALS Laboratory Group ISO 9001:2000 & ISO 17025 in Elko, NV or Reno, NV for assay or to Jacobs Assay Office Registered Assayers in Tucson, AZ for sample preparation to pulps and shipped by Jacobs using UPS to ALS in Reno, NV. Check assay standards are submitted with assay jobs, and reviewed for accuracy.
Source: Redhawk Resources, Inc.