Published: September 21, 2011
Red Metal Resources Reports 2.51% Copper and 0.53 g/t Gold Over 13 Meters at Farellon Project, III Region Chile
Results Also Include 32 Meters @ 1.35% Copper and 0.99 g/t Gold
THUNDER BAY, ON and VALLENAR, CHILE, Sept. 21, 2011 /PRNewswire/ - Red Metal
Resources Ltd. (OTCBB:RMES), a mineral exploration company with
copper-gold assets in Chile, today announced results from their 2,233
meter, 11 drill hole drill program on the Farellon Property, III Region
Atacama, Chile.
Highlights of the drill program include:
HOLE ID From To (m) Length Copper Gold g/t
(m) (m) %
FAR-11-001 36 49 13 2.51 0.35
including
FAR-11-001 36 44 8 3.95 0.53
FAR-11-006 80 112 32 1.35 0.99
FAR-11-009 202 211.55 9.55 0.95 0.42
The recently completed drill program has continued to expand the known
mineralized zone down dip to approximately 200 meters vertical depth
while also continuing to confirm historical results along strike. Three
drill holes included approximately 100 meters each of drilling with a
diamond drill bit to recover drill core. The drill core has provided us
with information to better define the structural controls on
mineralization and aid in planning for further drill programs.
The above intersections are downhole thickness and may not represent
true thickness of the mineralization.
Results of the full drill program are included below:
HOLE ID From To (m) Length Copper% Goldg/t
(m) (m)
FAR-11-001 36 49 13 2.51 0.35
FAR-11-001 78 85 7 0.43 0.04
FAR-11-002 Zone faulted off
FAR-11-003 150 155 5 0.40 0.28
FAR-11-003 177 182 5 0.44 0.15
FAR-11-004 141 145 4 0.73 0.01
FAR-11-005 124 133 9 0.84 0.26
FAR-11-006 80 112 32 1.35 0.99
FAR-11-007 56 74 18 0.50 0.40
FAR-11-008 98 102 4 0.85 0.26
FAR-11-009 202 211.55 9.55 0.95 0.42
FAR-11-010 179.13 183 3.87 0.50 0.39
FAR-11-011 54 56 2 0.97 0.48
Caitlin Jeffs, P.Geo., president of Red Metal Resources, said, "We are
extremely encouraged by the results from this drilling program.
Farellon has enormous potential and warrants further drilling to
outline an initial resource estimate."
About Farellon Project
Farellon is a copper-gold property in the prolific Candelaria iron oxide
copper-gold belt. Previous work has outlined a 1.7 kilometer strike
length of known mineralization hosted in a mineralized fault zone along
strike from the historic Carrizal Alto mine.
The Farellon project consists of four mining and exploration concessions
totaling 1096 hectares in the Carrizal Alto mining district located
approximately 75 kilometers northwest of the city of Vallenar, 150
kilometers south of Copiapo and 20 kilometers west of the Pan American
Highway. The property is easily accessible year round by dirt roads
that criss-cross the property and is located close to power and water.
Red Metal last explored Farellon in the fall of 2009 with a five-hole,
725 meter, reverse circulation (RC) drill program which included
results of 2.57% copper and 4.16 g/t gold over 5 meters. An RC drill
program of 22 drill holes totaling 3,918 meters was completed in
1996-1997 by an Australian company. The drilling was conducted at
irregular intervals along the mineralized shear and they were sampled
at regular one meters sample intervals along their entire length. The
drilling confirmed mineralization in the shear zone down to a vertical
depth of approximately 200 meters.
Michael Thompson, P.Geo., vice president of exploration for Red Metal,
the project's Qualified Person as defined in NI 43-101, has reviewed
and approved the contents of this news release.
About Red Metal Resources Ltd.
Red Metal Resources is a mineral exploration company focused on
aggressive growth through acquiring, exploring and developing
copper-gold assets in Chile. Our projects are located in the prolific
Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal
Cordillera, host to Freeport-McMoRan's Candelaria Mine and Anglo
American's Mantoverde Mine. Red Metal is a fully reporting US public
company quoted on the OTCBB under the symbol RMES. For more
information, visit .
Except for the statements of historical fact, the information contained
herein is of a forward-looking nature. Such forward-looking information
involves known and unknown risks, uncertainties and other factors that
may cause the actual results, performance or achievement of the company
to be materially different from any future results, performance or
achievements expressed or implied by statements containing
forward-looking information. Accordingly, you should not place undue
reliance on statements containing forward looking information. The U.S.
Securities and Exchange Commission permits mining companies, in their
filings with the SEC, to disclose only those mineral deposits that a
company can economically and legally extract or produce. We may use
certain terms in our press releases, such as "measured," "indicated,"
and "inferred" resources, which the SEC guidelines generally prohibit
companies from including in their filings with the SEC. Investors are
urged to consider closely the disclosure in our Form 10-K, which may be
obtained from us, or from the SEC website.
Red Metal Resources Ltd.
Adam Rabiner
Corporate Communications
604-648-0513 or 1-866-907-5403
invest@redmetalresources.com
SOURCE Red Metal Resources Ltd.
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