TSX Venture: RMD
Shares Issued and Outstanding: 79,059,239
TORONTO, Nov. 3 /CNW/ – (RMD: TSXV). – Richmond Minerals Inc. (“Richmond” or the “Company”) is pleased to provide the following exploration update on its Hallé Township project near Belleterre, Québec, in a joint venture with Fort Chimo Minerals Inc. (CNSX: FORT). The Company acts as the operator of the joint venture.
Phase I of the diamond drilling work has now been completed. A total of 1,600 meters was drilled in seven boreholes testing both the North and South Zone geophysical anomalies. Mineralization consisting of pyrrohtite, pyrite, and chalcopyrite hosted within sheared intermediate to basic metavolcanics and clastic metasediments were encountered in all boreholes. The style of mineralization varied from disseminated to massive, and multiple zones were intersected in each borehole.
The mineralization in the North Zone has an apparent minimum strike length of 1.2 kilometers, and the mineralization in the South Zone has an apparent minimum strike length of 900 meters. Both zones are open to strike and depth. Of the 1,600 meters drilled, more than 300 meters were sampled and sent for assaying.
Assay results for the first two boreholes are expected in the near future. Assay results for the remaining holes are expected before the end of November.
Warren Hawkins, P.Eng., in his capacity as Qualified Person under National Instrument 43-101 has reviewed the content of this 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