2008-03-17 - Red Lake Exploration, Inc. Begins Exploration Program at the Camila
3/17/2008
Red Lake Exploration, Inc. (OTCBB: RLKX) has begun exploring the Camila Breccia, its copper-gold project in the Candelaria iron-oxide-copper-gold (IOCG) belt of Chile's coastal cordillera.
The exploration program consists of six drillholes totaling approximately 1000 metres of diamond drilling on two previously identified mineralized structures. Drilling will target depth extents of surface copper mineralization and coincident IP anomalies associated with the Camila Breccia. Grab samples from the Camila Breccia have returned 1.15% Cu. A second target along the El Zorro Vein is planned to intercept depth and strike extents of the known mineralized structure. Grab samples on the El Zorro have returned gold results up to 7.5 g/t Au.
The Camila Breccia is an early-stage exploration project that was last explored in the late 1990s by Trilogy Metals, Inc. Previous work included a property-wide geological mapping and sampling program and a geophysics IP (induced polarization) survey. Two mineralized structures were identified from this work, the El Zorro Vein and the Camila Breccia. The El Zorro vein is a gold-bearing specular hematite-pyrite-quartz vein exposed on surface for approximately 1.2 kilometres with an interpreted total strike length of approximately 2.4 kilometres. The Camila Breccia is a large specular hematite-quartz hydrothermal breccia outcrop approximately 250 metres in diameter.
Red Lake is concentrating its exploration in the under-explored Candelaria IOCG belt of Chile that is host to Freeport-McMoRan's Candelaria Mine, with reported mineable reserves of 470 Mt @ 0.95% Cu, 0.22 g/t Au and 3.1 g/t Ag; and Anglo American's Manto Verde Mine, with reported proven and probable reserves of 67.2 Mt @ 0.63% Cu in 2006. The Camila property is one of several properties Red Lake has acquired in the region.
The company's president, John Di Cicco, says that, "This is a very exciting point for Red Lake. It is the first step in our plan to find resources in the under-explored Candelaria IOCG belt."
About Red Lake Exploration, Inc.
Red Lake Exploration, Inc. is engaged in acquiring, exploring and developing natural resource properties in Chile. Its headquarters are in Richmond, Canada.
Contacts: Red Lake Exploration, Inc. John Di Cicco President (604) 961-0301
See other PRESS RELEASES
2010-05-05 - Red Metal Resources Upgraded to OTCQB Marketplace
2010-03-03 - Red Metal Resources to Exhibit at PDAC 2010
2010-02-05 - Red Metal Files 43-101 Technical Report on the Farellon Copper-Gold Project in Chile's
2010-01-13 - Red Metal Resources Converts $1.15 Million of Debt Into Equity
2010-01-08 - Red Metal Resources Announces Change of Independent Auditors
2009-12-04 - Red Metal Resources Announces Farellon Drill Results
2009-12-02 - Red Metal Resources Hires Director, Corporate Communications
2009-11-30 - Red Metal Resources Provides Corporate Update
2009-02-03 - Red Metal Resources Ltd. Acquires Irene Property in Candelaria IOCG Belt
2009-01-20 - Red Metal Announces the Acquisition of Four Mineral Properties at Auction
2008-11-12 - Red Metal Resources Retains Barwicki Investor Relations Co.
2008-09-18 - Red Metal Increases Land Holdings Near Farellon
2008-09-11 - Red Metal Increases Land Holdings Near Camila
2008-09-08 - Red Metal Announces Name Change, Increase in Authorized Capital Stock
2008-05-21 - Red Lake Exploration, Inc. Updates Its Diamond Drill Program on Camila
2008-05-01 - Red Lake Exploration, Inc. Raises One Million Dollars Through a Private Placement
2008-04-23 - Red Lake Exploration, Inc. To Present at EQUITIES Magazine's Third Annual Mining
2008-04-14 - Red Lake Exploration, Inc. Releases Mining Results From the Santa Rosa Property
2008-03-17 - Red Lake Exploration, Inc. Begins Exploration Program at the Camila
2007-09-27 - Red Lake Exploration, Inc. Announces the Option to Purchase Mina Farellon
2007-09-27 - Red Lake Exploration, Inc. Announces Options to Purchase Santa Rosa and Camila
|