[Marinir] {Disarmed} Redhill 10 Cents Surrounded by Tembo $1.90 - Drills Turning Soon!
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Thu Mar 1 14:38:57 CET 2012
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http://www.redhill-resources.com/s/home.asp
Redhill Announces Work Program for the Nyakagwe Property
Redhill Resources Corp. ( RHR
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=RHR®ion=C&lookup=symbol&snapshot=default
: TSX-V) is pleased to report the planned 2012 exploration program for
its Nyakagwe Properties located in Tanzania, East Africa. The Nyakagwe
Properties are strategically located on the Bulyanhulu regional trend
within six kilometres (km) of Barrick Gold's 12 million-ounce Bulyanhulu
gold mine.
The Nyakagwe Properties consist of forty-six primary mining licenses
(PML's) in three contiguous groups and one prospecting licence (PL)
encompassing a combined area of approximately 500 hectares surrounded by
prospecting licenses and applications for prospecting licenses owned and
presently being explored by Tembo Gold Corp.
Tembo Gold Corp. recently announced (news release dated February 28th,
2012) that they have identified an area "between the Nyakagwe Hill and
the Bulyanhulu River" as a "prominent domain of identifiable artisanal
gold mining." Three distinctive mineralized trends have been identified,
two of which, if not all three, trend onto Redhill's properties (see
attached map). Artisanal gold mining operations are known to exist or
have existed on the Nyakagwe Properties. These locations typically
represent outcropping of the mineralized structures and prove to be
excellent exploration targets that will be tested to depth and along
strike in the upcoming exploration program.
The Nyakagwe Properties had exploration work completed in 2008 by Africa
West Minerals Corp. This work comprised soil sampling, trenching, and
ground magnetic geophysics, followed by a program of Reverse Circulation
(RC) and Air Core (AC) drilling. This historical drilling intersected
mineralization as shallow as 20 metres (m) and returned gold values
ranging from .32 g/t over 1 m to 7.03 g/t over 4m including 17.75 g/t
over 1m. These widths and grades are analogous to those being mined at
Barrick's nearby Bulyanhulu Mine.
Using a detailed data base from the 2008 program, along with ground
truthing and additional field work, Redhill is planning an extensive
exploration program for 2012. The program will include geological
mapping, satellite imagery for structural trends, rock and soil
geochemistry, trenching and geophysics, and follow-up drilling.
The Company is retaining consultants with extensive experience and
knowledge of the Bulyanhulu gold deposit and regional geology to assist
with the exploration program. The consultants are based in Mwanza, the
second largest city in Tanzania, and logistical supply center for gold
mining operations in the Lake Victoria Gold Fields.
Redhill Resources is also pleased to announce the appointment of Mr.
Paul DiPasquale to the Board of Directors, effective immediately. Mr.
DiPasquale has been involved in the securities industry since 1969 and
has held various executive positions with responsibility for sales and
trading operations for a number of brokerage firms in his career,
including: Brink, Hudson & LeFever Ltd., Yorkton Securities Inc.,
Haywood Securities Inc., Gardiner Watson Ltd., Walwyn Stodgell and
Canaccord Genuity Corp. where he served as an Executive Vice-President
and Branch Manager. He is now an independent advisor.
To find out more about Redhill Resources Corp, please contact investor
relations at (604) 662-8184 or email investor at redhill-resources.com .
You may also visit our website at www.redhill-resources.com
http://www.redhill-resources.com
.
REDHILL RESOURCES CORP.
"Clive Massey"
Clive Massey
President & CEO
NEITHER THE 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.
"This news release may contain forward–looking statements.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements."
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