Red Crescent Makes Progress at Its Sivas Copper Project
TORONTO, ONTARIO, Sep 28, 2011 (MARKETWIRE via COMTEX) — Red Crescent Resources Limited /quotes/zigman/1318962 CA:RCB -30.00% , a mineral exploration and development company focused on base metals in Turkey, today announced that it has completed a new geochemical soil survey and that drilling operations have begun on the main zone of its Sivas Copper Project. The geochemical survey results confirmed promising indicated concentrations of a polymetallic spectrum of base and precious metals, including gold.
“The indicative geochemical results from two of the completed lines of soil samples taken from the identified mineralised listvenite zones at the project in proximity to the first drill hole MZ1, which are both supplementary and complimentary to the historical works done by Falconbridge, has unequivocally shown that polymetallic mineralisation may potentially exist over areas of the properties within the project,” said Alan Clegg, Chairman and CEO of Red Crescent Resources. “Further this has confirmed the anecdotal evidence that Gold exists within the mineralised zones that form the project. Now that we have the successful first drill hole MZ1 completed and the core analysed, at least along its surface by a NITON XRF field measurement unit, it would appear that by all means the potential for a polymetallic mineralised body is being indicated. We now look forward to the formal laboratory results from the core sampling in the coming weeks hopefully confirming the findings.”
The results from the geochemical analysis of the soil sample lines either side of the first drill hole just completed in the main zone (MZ) indicated average and high values respectively, of the main metals being targeted as follows and measured in parts per million (ppm); Copper 600ppm and 5000ppm, Nickel 2300ppm and 3700ppm, Molybdenum less than 1ppm and Gold 0.024ppm. It should be noted that Nickel most likely originates from the silica-carbonate altered ophiolite (listvenite), as a component of the mineral olivine. It is expected to occur in elevated concentrations and does not necessarily imply anything economic at this stage as the results from other soil lines sampled are awaited.
The drill core recovery from completion of the first dill hole, MZ1, was excellent and the continuous mineralised zone intersected from 14m below collar was 60m true width for the mineralised listvenite zone when adjusted for dip. Measurement of the mineralisation spot grades on the surface of the core using a handheld NITON XL3t500DM XRF spectrometer (Ultra High Resolution unit with Silicon Drift Detector) correspond to the soil sampling results that Copper, Nickel, Molybdenum are contained and are elevated within the mineralisation intersected. The surface spot grades of the target metals, measured in percent contained, high and average respectively, are as follows; Copper 0.5% and 0.07%, Nickel 0.5% and 0.07%, Molybdenum 0.03% and 0.01% and Arsenic 0.07% and 0.005%. These results are to be confirmed by independent laboratory results from core sampling submitted for testing.
(nb:NITON units are Fundamental Parameter based calibrated and certified units by the manufacturer for in-situ mineralisation)(nb:broken ore)(nb:and percent level analysis of process bulk samples.)
Red Crescent also announced that further to the press release of August 16th it has successfully obtained the relevant environmental and forestry permits for the planned drilling and trenching program with at least 2250m for approximately 14 Holes of Diamond Core and RC drilling to be completed this season on both the main zone (MZ) and south east zone (SEZ) of the Sivas Copper Project (The Project).
The Sivas Project is located in the Sivas region of north-east Central Turkey and approximately 650 km north-west of Red Crescent’s Hakkari Zinc Project and 400 km north-east of the Company’s Tufanbeyli Zinc Project, located at Adana.
Mike Robertson, a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information contained in this release.
Forward-looking statements
The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company’s expectations and projections.
About Red Crescent Resources
Red Crescent Resources /quotes/zigman/1318962 CA:RCB -30.00% is a Turkey-based junior mining company targeting historically inaccessible areas where no modern application of exploration techniques or technology has been applied, with high potential for discovery of significant base metal deposits. For more information, please visit: www.redcrescentresources.com .
Contacts:
TMX Equicom
Joe Racanelli
+1 416 815 0700 ext 243
jracanelli@equicomgroup.com
Red Crescent Resources Limited
Alan Clegg
+90 530 662 8964 or +27 82 469 8378
+90 312 448 2926 (FAX)
aclegg@rcrholding.com.tr
www.redcrescentresources.com
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