Redhawk Resources Announces Results of 2010 Exploration Drilling and 2011 Resource Expansion Drilling at Copper Creek
June 01 2011 - 9:25AM
Marketwired Canada
Redhawk Resources, Inc. (TSX VENTURE:RDK)(FRANKFURT:QF7) -
-- 2010 drill program completed totaling 24,776 feet (7,552m)
-- 2010 drilling program extends high potential porphyry system from 1.5km
to 4.5kms in length
-- two drill holes for 2011 drill program completed and two holes in
progress
-- first hole of the 2011 drill program RAE-07-16 encounters 2,049 feet
(624m) of continuous porphyry style mineralization with three zones
above resource grade cutoffs
Redhawk Resources, Inc. ("Redhawk" or the "Company") is pleased to announce the
results from three of the 2010 district exploration holes at Copper Creek and
results of the first completed drill hole of the 2011 resource expansion and
definition program. (To see a map of drill hole locations, please visit the
following link: http://media3.marketwire.com/docs/rdk601i.pdf)
2011 Drill Program
The 60,000 foot (18,290m) 2011 drill program will have approximately 20,000 feet
(7,000m) allocated to continuing the 2010 district expansion program. The
balance of 40,000 feet (11,290m) is being directed towards shorter step out
holes and in fill holes in and around the existing American Eagle and Keel
porphyry systems to increase both the amount and category of resources.
The first hole was drill hole RAE-07-016 located to increase the size of the
area connecting the American Eagle and Keel porphyry resource areas, and was
completed to a depth of 4,396 feet (1,340m). The core drill hole intercepted
2,049 feet (approx. 624m) of strong continuous porphyry style mineralization
from 2,286 feet to 4,335 feet (approx. 697 to approx. 1,321m) that averages
0.34% copper, 0.011% molybdenum, and 1.10 ppm silver. The strongly mineralized
interval contains numerous intervals of higher grade mineralization as shown in
the table below, including 105 feet (32 m) of 0.79% copper, 0.013% molybdenum,
and 2.96 ppm silver; 90 feet (27.4m) of 0.70% copper, 0.003% molybdenum and 2.31
ppm silver; and 58 feet (17.7m) of 0.64% copper, 0.003% molybdenum and 1.80 ppm
silver. Drill hole RAE-07-017 located south of RAE-07-016 has also been
completed and assays are pending. Drill hole RAE-07-018 is in progress. These
three holes will increase size of the area connecting the two resource areas and
increase the total resources.
RAE-07-016
Start interval end interval thickness Cu% Mo% Ag ppm
2286 ft 4335 ft 2049 ft 0.34 0.011 1.10
Including:
2286 ft 2980 ft 694 ft 0.43 0.003 1.12
Incl
2507 ft 2565 ft 58 ft 0.64 0.003 1.80
2650 ft 2740 ft 90 ft 0.70 0.003 2.31
3170 ft 3300 ft 130 ft 0.35 0.006 1.05
3360 ft 3465 ft 105 ft 0.79 0.013 2.96
3493 ft 3510 ft 17 ft 0.62 0.014 1.99
3580 ft 3630 ft 50 ft 0.36 0.024 1.49
3644 ft 3664 ft 20 ft 0.72 tr. 0.38
3705 ft 3740 ft 35 ft 0.23 0.101 0.74
3830 ft 3945 ft 115 ft 0.24 0.027 1.04
4000 ft 4260 ft 260 ft 0.28 0.021 1.29
Incl
4166 ft 4260 ft 94 ft 0.41 0.005 1.78
(ft = feet, % = percentage, ppm = parts per million, tr = trace, Cu =
copper, Mo = molybdenum, Ag = silver)
2010 Drill Program Completed
The 2010 six hole drill program totaling 24,776 feet (7,552m) has been completed
with assays received on all but one hole. The results from the first two
district exploration holes, REX-10-046 and REX-10-048, were announced in early
2011 and contained high grade narrow intercepts. The final district exploration
hole to be completed, REX-10-047, was drilled 1,600 feet (488m) west of the
current porphyry resource area to a depth of 4,007 feet (1,221m). The hole
encountered significant intervals of strong copper mineralization identical in
style to that in the Keel and American Eagle porphyry resource area. Assays are
pending. The drill hole was started vertically but drifted to the NW a few
hundred feet. Due to the significant visual mineralization, Redhawk is now
drilling an angle hole, REX-10-052, from the same drill site directed to the NE
at a steep angle meant to offset hole REX-10-047 towards the Keel Zone porphyry
resource area to the east.
Exploration hole REX-10-049 was drilled 3,200 feet (nearly one km) NW of the
current porphyry deposit resource boundary and intersected disseminated and
veinlet style mineralization in a "crowded porphyry" intrusion before being lost
at 3,772 feet (1150 m) ( see results below). Redhawk plans to wedge from the
lost hole to further evaluate the encouraging mineralization.
Exploration hole REX-10-050 was drilled to a depth of 3,967 feet (1,209m), a
distance of 3,100 feet (945m) SE from the current porphyry resource boundary
targeting potential mafic host rocks (diabase intrusions and andesitic
volcanics). The drill hole encountered nearly 3,000 feet of altered and strongly
pyritic andesitic volcanics and diabase. The hole contained anomalous copper,
molybdenum, silver, and other metals over large intervals but no grades
approaching ore values. Exploration hole REX-10-051 was drilled to 5,057 feet
(1,541m), a distance of 3,000 feet (914m) SSE from the current porphyry resource
boundary. Similar to hole REX-10-050, REX-10-051 encountered long intervals of
andesitic volcanics and some diabase with strong "porphyry style" alteration and
sulfide mineralization. Two thin zones of intrusives with disseminated copper
sulfides were found in the hole. Redhawk intends to drill an exploration hole as
part of the 2011 drill program between hole REX-10-50 and the southeastern side
of the American Eagle resource to determine whether the thick andesitic volcanic
and diabase are mineralized by the fluids causing the formation of the American
Eagle system. Significant assay results are listed below.
REX-10-049
Start interval end interval thickness Cu% Mo% Ag ppm
3610 ft 3705 ft 95 ft 0.22 0.003 0.49
Incl
3615 ft 3635 ft 20 ft 0.33 0.003 0.74
REX-10-050
No significant values
REX-10-051
Start interval end interval thickness Cu% Mo% Ag ppm
2980 ft 3080 ft 100 ft 0.15 tr 1.88
4685 ft 4689 ft 4 ft 7.50 0.002 54.9
(ft = feet, % = percentage, ppm = parts per million, tr = trace, Cu =
copper, Mo = molybdenum, Ag = silver)
Based upon the results of the six district exploration drill holes now
completed, Redhawk geologists and consulting geologists now believe that a very
large porphyry copper/molybdenum mineralization system is present in the Copper
Creek District. The horizontal footprint of the current porphyry resource is
approximately 5,000 feet (1,524 m) in a NW-SE direction. Holes REX-10-048, the
most northwest exploration drill hole, and REX-10-051, the most southeast
exploration drill hole, are 14,600 feet (4,450 m) apart. Both drill holes
contained classic porphyry copper deposit style alteration and mineralization.
R. Joe Sandberg, Redhawk's President & CEO, stated, "Our geologic group is very
pleased with the 2010 district exploration drill program. We believe that the
area of high potential for discovery of additional porphyry copper/molybdenum
deposits within our property holdings is now at least 5 km by 3 km and
continuing work may further increase this area. Redhawk's 2011 drilling program
has had a very successful beginning and will continue to explore the high
potential areas of the property and continue with the resource upgrade and
expansion announced earlier this year."
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 each assay job, and reviewed for accuracy.
About Redhawk
Redhawk is a Canadian-based resource exploration and development company with
primary focus on the accelerated development of its advanced stage Copper Creek
copper-molybdenum project in San Manuel, Arizona. The 100% owned Copper Creek
property consists of approximately seven square miles of almost totally
contiguous patented and unpatented mining claims and state prospecting permits,
located about 70 miles northeast of Tucson, Arizona and about 15 miles east of
San Manuel. The property is in the prolific southwest US porphyry copper belt at
the projected intersection of a major northwest belt of porphyry copper deposits
or mines (Ray, Miami/Globe, Superior/Resolution, Johnson Camp) and a major
east-northeast belt of porphyry deposits (San Manuel/Kalamazoo, Silver Bell,
Lakeshore, Safford, Morenci). The property is within sight of the former BHP
Kalamazoo/San Manuel copper smelter and mine and within 30 miles of an existing
operating copper smelter. The area is a mining friendly and politically secure
location with excellent and readily accessible infrastructure.
ON BEHALF OF THE BOARD
R. Joe Sandberg, President & CEO
The forward-looking information contained in this press release is made as of
the date of this press release and, except as required by applicable law,
Redhawk does not undertake any obligation to update publicly or to revise any of
the included forward-looking information, whether as a result of new
information, future events or otherwise. By its very nature, such
forward-looking information requires Redhawk to make assumptions that may not
materialize or that may not be accurate. This forward-looking information is
subject to known and unknown risks and uncertainties and other factors, which
may cause actual results, levels of activity and achievements to differ
materially from those expressed or implied by such information.
Redhawk Resources Inc. (TSXV:RDK)
Historical Stock Chart
From Apr 2024 to May 2024
Redhawk Resources Inc. (TSXV:RDK)
Historical Stock Chart
From May 2023 to May 2024
