Redhawk Resources, Inc. (TSX VENTURE:RDK)(FRANKFURT:QF7) has announced that the rotary pre collar drilling has been completed on the initially planned five drill holes in the first phase of new target drilling.
- Second Core Drill Hole REX 10-048 nearing completion
- Rotary pre collar drilling of 9,574 feet completed on all planned holes
- Drill program expanded based upon results and second diamond drill contracted
- Targets are 1 to 2 km away from the known porphyry style resources
Based upon the results to date, the Company has determined to expand the drilling program by adding a sixth hole and has contracted a second drilling company to expedite core drilling. The sixth hole has also been completed with rotary pre collar. The first pre collar hole completed with core drilling encountered significant mineralization over one kilometer from the nearest defined resource on the Copper Creek property, indicating the potential for significant expansion within the district. The mineralization is of particular importance as it is contained in mafic host rocks that in many well known porphyry systems, such as Resolution and Sierra Gorda, have resource grades substantially higher than the main intrusive body.
Results of the first hole of the drill program, REX-10-046 which was drilled in the SW portion of the property approximately 3200 feet (~1000 meters) from the nearest resources and 1700 feet (~520 meters) from the nearest historical drill hole as noted on the attached map, were released October 5, 2010. Additional assays from the first hole are still pending. The second vertical hole currently being completed with core drilling, REX-10-048, is also in the western area of altered andesitic volcanics approximately 7,500 feet (~2,300 meters) from the first hole and approximately one mile (~1,590 meters) from the nearest deep resources. The hole was rotary pre collared to 1,720 feet and core drilling is currently over 3,800 feet in depth and continuing due to strong porphyry styles of alteration and encouraging visible copper mineralization.
The additional four rotary pre collar drill holes, all drilled vertically, have all encountered very encouraging porphyry copper styles of alteration and visible sulphide mineralization. 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. Limited assay results from this higher level drilling have been received from the laboratory in regard to the rotary pre collars and most of the rotary cuttings from the first five pre collar drill holes are now in the assay process. Joe Sandberg, President of Redhawk stated: "We are very encouraged by all of the drilling to date. The pre collar rotary drilling is not at our targeted depth however the assays from this rotary drilling are once again confirming the magnitude of the potential of the Copper Creek porphyry system which has received limited exploration outside of the current resource area."
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 a 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 the potential for higher grade resources in different host rocks.
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.
Source: Redhawk Resources, Inc.