QUESNEL, BC,
March 15 /PRNewswire/ - Richfield
Ventures Corp. (TSX.V: RVC) ("Richfield" or the "Company") is
pleased to report drill results from the first four holes of the
2011 30,000 metre drill campaign to expand and delineate the
resource on the Blackwater Gold Project. The project is
approximately 100 km south of Vanderhoof,
BC.
BW 117 and BW 119 are vertical holes drilled
from the same collar. BW 117 was abandoned at 130 metres because of
drilling problems and BW 119 was therefore drilled
immediately beside it to 438 metres depth. The holes are 50 metres
west of BW 68 (227 metres of 1.51 g/t Au including 66 metres of
3.65 g/t- see NR July 26, 2010).
BW 119 intersected 256 metres grading 0.76 g/t
Au including a 15 metre section of 3.90 g/t Au. At 395 metres the
hole encountered a further 29 metres grading 1.25 g/tAu. Gold
grades for composited 5 metre intervals are comparable where BW 117
and 119 duplicate each other. The long intersection in BW 119
generally confirms the grade shell model used in the resource
estimate (see NR March 2, 2011).
From the bedrock contact at 5 metres BW 118 cut
99 metres grading 1.52 g/t Au. Deeper in the hole are 18 metres
grading 2.69 g/t Au. (BW 118 is 150 metres east of BW 87- (115
metres @ 2.59 g/t Au including 57 metres of 4.79 g/t Au - see NR
Nov 2, 2010). BW 118 intercepted
mineralization outside of the resource estimate gradeshell within
100m of surface where both adjacent holes 92 and 99 intercepted
waste grades.
BW 120 is on the east side of the property
between BW 74 (231.96 metres of 0.75 g/t Au- see NR Sept 2, 2010) and BW 90 (171 metres of 3.13 g/t
Au- see NR Nov 23, 2010). It cut 145
metres of 2.70 g/t Au including 40 metres of 5.00 g/t Au. The hole
averages 1.67 g/t Au for its 288.64 metres length from bedrock
contact. BW120 confirms the resource estimate gradeshell
model.
DDH |
From (m) |
To (m) |
Intvl (m) |
Au g/t |
Ag g/t |
BW 117 |
41 |
62 |
21 |
0.68 |
1.2 |
BW 117 |
92 |
130 |
38 |
0.54 |
2.3 |
BW 118 |
12 |
111 |
99 |
1.52 |
10.0 |
BW 118 |
194 |
212 |
18 |
2.69 |
12.3 |
BW 119 |
40 |
64 |
24 |
0.54 |
1.3 |
BW 119 |
81 |
337 |
256 |
0.76 |
3.1 |
incl |
135 |
150 |
15 |
3.90 |
13.0 |
BW 119 |
347 |
384 |
37 |
0.57 |
4.0 |
BW 119 |
395 |
424 |
29 |
1.25 |
2.5 |
BW 120 |
60 |
145 |
85 |
0.82 |
9.2 |
BW 120 |
158 |
303 |
145 |
2.70 |
8.6 |
incl |
162 |
202 |
40 |
5.00 |
15.7 |
Peter Bernier,
RVC president comments "We are very pleased that these four holes
generally confirm the resource estimate model especially the higher
grade intervals in BW 120".
Richfield also announces that the resource
estimate report prepared by Geosim Services Inc. of Vancouver, Canada ("Geosim"), has been filed
and is available on Sedar. The estimated Indicated Resource is
53.46 million tonnes at an average grade of 1.06 g/t Au containing
1.83 million ounces gold. A further 75.45 million tonnes at an
average grade of 0.96 g/t Au containing 2.34 million ounces gold is
estimated in the Inferred category. These estimates encompass the
entire Blackwater deposit (see NR March 2,
2011).
Richfield will accelerate drilling during the
third week of March 2011 by
mobilizing a third drill to the property.
Drill map and strip logs for individual holes
reported here will be posted on the company website.
Richfield has fulfilled all requirements to earn-in a one
hundred (100%) percent interest in the Jarrit Property, located on
the southern portion of the Blackwater Gold Project. The
Jarrit Property is subject to a 2% NSR, 1% of which may be
purchased for $1,000,000.
Drill map and strip logs for individual holes reported here will
be posted on the company website.
Also see drilling results at
http://www.corebox.net/properties/blackwater/index.php?deposit=510
Widths reported are drill widths; true widths are unknown.
Assays are uncut, length-weighted average values.
Quality Assurance
Richfield has implemented a rigorous quality
assurance/quality control program at the Blackwater property using
best industry practice and supervised by Dirk Tempelman-Kluit. The program includes chain
of custody of samples from drill to laboratory. Drill core is sawn
in half at the property and for each sample half of the core from
one metre intervals is placed in plastic bags and sealed. The
remainder is retained in core boxes stored at the project camp.
A standard sample, a blank sample, or a
duplicate sample is inserted into the sample stream every tenth
sample. Three certified ore assay laboratory standards are used in
the program, and are supplied by CDN Resource Laboratories Ltd., an
independent laboratory located in Langley, BC. Samples including the blanks,
standards and duplicates, are shipped by bonded courier to Eco Tech
Stewart Group Laboratories in Kamloops,
BC, an internationally recognized analytical services
provider. Rejects selected at random are sent to Acme Labs of
Vancouver, BC for check assays. In
total 1279.35 metres was drilled in four holes; 1149 samples were
prepared. A further 43 blanks, 41 standards and 41 duplicates were
inserted in the sample stream. As well 38 samples were selected for
check assay. Total quality control samples were 163, about 12.4 %
of the samples analyzed. Richfield detected no significant QA/QC
issues during review of the data.
The scientific and technical information
contained in this news release was prepared under the supervision
of Dirk Tempelman-Kluit Ph.D, FGAC, VP Exploration for Richfield
Ventures Corp, and has been reviewed by Rob
Pease P.Geo., who is a "Qualified Person" as defined under
National Instrument 43-101.
Richfield Ventures Corp. is a public mineral
exploration company trading on the TSX Venture Exchange under the
symbol RVC. Richfield has been actively acquiring and exploring
mineral tenures in the Quesnel Trough and Nechako Plateau regions
of British Columbia.
On behalf of the Board of Directors of Richfield Ventures
Corp.
"Peter Bernier"
Peter Bernier, President
Certain statements in this press release may
be considered forward-looking information, including those relating
to the "expectations", "intentions" or "plans" of the Company. Such
information involves known and unknown risks, uncertainties and
other factors -- including the approvals of regulators,
availability of funds, the results of financing and exploration
activities, the interpretation of drilling results and other
geological data, project cost overruns or unanticipated costs and
expenses and other risks identified by the Company in its public
securities filings -- that may cause actual events to differ
materially from current expectations. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. The
Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Richfield Ventures Corp.