TSX Venture: RMD
Shares Issued and Outstanding: 77,059,239
TORONTO, Aug. 30 /CNW/ – Richmond Minerals Inc. (“Richmond“) is pleased to provide the following corporate project update regarding the Hallé Township joint venture with Fort Chimo Minerals (CNQ: FORT) near Belleterre, Québec.
All necessary permits for the diamond drilling programme have now been received from Long Point First Nation and Société de protection des forets contre le feu. Drilling work is scheduled to begin during the week of September 6, 2010.
Geophysical data from the detailed ground EM and magnetic surveys completed earlier this summer has been reviewed and eight priority targets have been selected for the first phase of drilling. The anticipated meterage is for 2400 metres of drilling. In particular, 4 holes are targeted for the north and south anomalies.
As described in previous news releases, joint venture management believes the Hallé Township project is a newly discovered polymetallic volcanogenic massive sulphide occurrence. Grab sampling of the limited surface outcrops in the target area has returned base metal values in excess of 1%, and highly anomalous precious metal values. A review of historical assessment files indicates no definitive historical exploration work in the target area.
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 press release and neither accepts responsibility for the adequacy or accuracy of this news release.
This press release contains certain forward-looking statements, which are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected. Richmond does not undertake any obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
For further information: Birks Bovaird, President or Warren Hawkins, Exploration Manager, Telephone: (416) 603-2114, Facsimile: (416) 603-8436