Revolution Commences Drilling at Universo Gold-Silver Project, Mexico
VANCOUVER, Nov. 23, 2011 /PRNewswire/ - Revolution Resources Corp (TSX: RV) ("Revolution" or "the Company") is pleased to report that diamond drilling is underway at the Universo Project, located in San Luis Potosi State, Mexico. There are three drill rigs currently on site, with 7,000 meters of core drilling planned. Revolution expects to report results in the first quarter of 2012.
Universo is a 350,000 hectare property centered at the heart of a 300 kilometer long trend of significant precious and base metal mines and deposits. The Property is located to the south of the Camino Rojo gold-silver discovery (Canplats Resources, recently purchased by Goldcorp) and Goldcorp's Penasquito gold-silver-lead-zinc mine. Twenty kilometers to the southeast of Universo, the Charcas Mine is Grupo Mexico's largest zinc mine; and 100km further south occurs the New Gold Inc. Cerro San Pedro gold-silver mine. Despite the Property's strategic location, only limited modern exploration has been performed; the last known drilling being eighteen years ago
Initial drilling will test multiple targets on the property; including step-out drilling from historic producers. One drill will initially test the Navarro area; centered on the Cinco Estrellas mine that hosts a historical, non NI 43-101 compliant resource estimate of 47,000 tons averaging 16.0 g/t Au and 900 g/t Ag. Amongst other targets, drilling will pursue a historic drill hole completed by Minera Kennecott that reported 1.5 meters averaging 121.0 g/t Au within 21.3 meters averaging 11.7 g/t Au and 37 g/t Ag, southeast along trend of the Cinco Estrellas mine. Drilling will also target extensions to the Esquivel mine, located 1,000 meters east of Cinco Estrellas, as well as multiple other nearby areas covered by shallow overburden.
Additionally, two drills will target the La Perdida zone, located 12 kilometers northwest of Navarro, where a widespread zone of silicified limestones (jasperoid), envelope several high-level epithermal-style quartz veins . Undrilled targets during this initial drilling phase will also include several sediment hosted targets. All of these targets are typified by extensive areas (hundreds of meters to kilometers) of anomalous veining and jasperoid mineralization. Gold values range from 0.1 to 7.76 g/t Au, as well as significant local silver values.
Universo hosts 63 kilometers of a 300 kilometer long trend of gold-silver occurrences with multiple styles of mineralization including epithermal, sediment hosted/Carlin style and polymetallic epigenetic. Gold mineralization occurs within jasperoid silicified limestone sequences along regional scale fault structures, as well as within low sulphidation epithermal quartz vein systems. All of these targets are typified by extensive areas (hundreds of meters to kilometers) of anomalous veining and jasperoid mineralization.
In addition to drilling, Revolution is currently completing a widespread soil sampling grid covering the northern 180,000 hectares of the Universo property, where no known exploration has been performed. IP geophysical survey grids are being completed to refine drilling targets over southern target areas of the Property. The Company is also completing extensive community and local stakeholder dialogue in the Universo area, which includes surface access agreements recently signed with multiple ejido groups.
Revolution's 2011 exploration program at Universo will be completed under the supervision of Robert McLeod, P.Geo and Director of Revolution, and Linus Keating, D.Sc., CPG, both Qualified Persons as defined by NI 43-101. Drill core will be cut in half using a diamond saw, with one half placed in sealed bags, and delivered to ALS-Chemex facilities in Zacatecas, Mexico. A sample quality control/quality assurance program utilizing standards and blanks, as well as third-party check labs will be implemented. Contents of this release were prepared by and approved for release by Mr. McLeod.
Revolution Resources Corp. is a TSX-listed gold exploration company (TSX: RV) based in Vancouver, BC, Canada. Well-funded and with no long-term debt, the Company's current exploration activities are focused on two flagship projects located in the Champion Hills district of North Carolina and the newly-optioned property portfolio of Lake Shore Gold in Mexico, previously owned by West Timmins Mining.
The Company has made multiple discoveries in the Champion Hills District in the Carolina Slate Belt of North Carolina, where drilling has encountered: 104.0 m of 1.27 g/t Au, including 40.0m of 2.33 g/t, 54.0m of 1.56 g/t Au, including 28.0m of 3.01 g/t Au, and 22.53m of 6.10 g/t Au and 258.65 g/t Ag. The Slate Belt hosts most of the area's past producing gold mines, most notably the Ridgeway Mine, and the Haile Mine currently awaiting permits to commence production.
Revolution's newly-acquired Mexican property portfolio contains land totaling over 400,000 hectares. The properties cover two distinct districts situated in regions which host current- and past-producing mines. The immediate focus is at Universo, which is located on trend with Goldcorp's Penasquito and Camino Rojo deposits (17.8Moz Au, 882Moz Ag, and 4.0Moz Au, 68.3Moz Ag respectively), and New Gold's Cerro San Pedro (1.4Moz Au, 52.0Moz Ag). Historical highlight drilling includes 21.3m of 11.7g/t Au, 37g/t Ag).
ON BEHALF OF THE BOARD
Forward-Looking Statements: Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to proposed exploration, development and production activities and their timing, potential mineralization and the anticipated acquisition of property interests. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, receipt of regulatory approvals, completion of anticipated transactions, the timing and success of future exploration, development and production activities, exploration and development risks, expenditure and financing requirements, title matters, third party consents, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices and one-time events. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
SOURCE Revolution Resources Corp.
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here