Richfield Ventures Reports Drilling Results from Blackwater Gold Project

By Joel ScanlonApr 18 2011

Richfield Ventures has released drilling results for the nine holes of the 30,000 metre drill program to develop and describe the resource on the Blackwater Gold Project. This project is located around 100 km south of Vanderhoof, BC.

The nine holes, which are vertical, were collared to the south of the Blackwater deposit. The five holes are present at the western part of the well-known mineralization and four holes are close to the east. Two best holes BW 127 and BW 129 are expanding the resource on the west-southwest side. The holes BW 122, 124, 126 and 128 on the southeast side are mineralized and hold the resource model that received a latest resource estimate, in which the estimated Indicated Resource is 53.46 million tons, which produced an average of 1.06 g/t Au including 1.83 million ounces gold and additionally Inferred resource estimate of 75.45 million tonnes producing an average of 0.96 g/t Au having 2.34 million ounces gold.

BW 125 and BW 127 holes have produced excellent mineralization and the company is deepening the holes. All the nine holes are likely to have capability to extend the resource estimate. The prospective of southwestern side deposit is developed through BW 127 and BW 129 holes.