Richmond Minerals Inc. (“Richmond“) and Fort Chimo Minerals Inc. (“Fort Chimo”) (FCM: CNSX) are pleased to provide an update on their Hallé Township joint venture project located approximately 10 kilometres east of Belleterre, Québec.
Assay results have now been received for all 7 drill holes that were drilled to test 2 separate geophysical anomalies situated within northwest striking intermediate to mafic metavolcanic rock units. All holes were collared at -45 degree inclination. Holes RMDH-10-01 to RMDH-10-04 were drilled on the northwest anomaly, and holes RMDH-10-05 to RMDH-10-07 were drilled on the southeast anomaly. Results are reported as follows:
|Hole No.||From (m)||To (m)||Width (m)||Zinc (%)|
Anomalous values for copper, nickel, chromium and silver were also noted in all boreholes. Holes RMDH-10-01, 02, and 04 tested the northwest anomaly over a 500-meter strike length. The true widths of the intersections reported above are unknown at this time. Agat Laboratories of Mississauga, Ontario, performed the laboratory analysis using an aqua regia digest with ICP-OES finish and fire assay with ICP-OES finish.
Much sulphide mineralization, silicification, and carbonatization was intersected in all drill holes and is ostensibly related to large regional faulting. However, since all Phase I holes were drilled to relatively shallow depths, there appears to be significant potential for stronger mineralization at depth. Samples are being submitted to a specialist for thin section and geochemical analysis to determine alteration details for refinement of future target areas.
Management of the Joint Venture is encouraged by the above results and is considering pursuing the potential with a second round of drilling on the northwest anomaly in early 2011.
Warren Hawkins, P.Eng in his capacity of Qualified Person under National Instrument 43-101 has reviewed the contents of this news release.
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Canadian National Stock Exchange has reviewed this news release and neither accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company’s mineral properties, and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
For further information:Birks Bovaird, President or
Warren Hawkins, Exploration Manager
Richmond Minerals Inc.
Telephone: (416) 603-2114
James M. Brady
Fort Chimo Minerals Inc., President
Facsimile: (416) 423-9325