Big Red Diamond Corporation
TSX VENTURE : DIA

Big Red Diamond Corporation

February 23, 2010 15:30 ET

Big Red Diamond Discovers Unreported Gold Occurrences on Bristol Gold Project, West Timmins

MONTREAL, QUEBEC--(Marketwire - Feb. 23, 2010) - Big Red Diamond Corporation ("Big Red" or the "Company") (TSX VENTURE:DIA) is please to announced that it has identified a previously unreported gold occurrence on its Bristol Gold project in West Timmins, ON.

In late fall 2009, Big Red had initiated prospecting and geological mapping over two claims blocks in northeastern Carscallen Township, part of the Company's Bristol gold project. Due to heavy snow fall at the time the work program focused on manual stripping, sampling, and 1:500 mapping of a gossanous quartz stock work found on the property during the first day of field work. Two occurrences of altered porphyritic rock in the southeastern extensions of the outcrop were uncovered. In addition to the stock work, a small (4 X 5 foot with a depth of less than 8 ft) shaft was found where more porphyritic rocks were found as well as a thin sulphide-bearing quartz vein.

A total of 29 samples were collected from a surface area measuring approximately 100m by 100m and sent to ALS Chemex labs in Vancouver, BC, for gold assaying and multi-element analyses. Interestingly, 24 of the 29 samples returned gold values ranging between 0.005 and 2.02 ppm (2.02gpt) (gold results only are demonstrated – other elements are available upon request). 

                   
  ALS Chemex              
                   
  Sample Au-AA23
Au ppm
0.005
  Sample Au-AA23
Au ppm
0.005
  Sample Au-AA23
Au ppm
  0.005
 
                   
  457251 0.442   457261 0.717   457271 < 0.005  
  457252 0.027   457262 0.014   457272 < 0.005  
  457253 0.118   457263 0.006   457273 < 0.005  
  457254 0.136   457264 0.006   457274 0.009  
  457255 0.255   457265 0.03   457275 0.006  
  457256 0.007   457266 0.023   457276 0.005  
  457257 0.007   457267 0.009   457277 0.048  
  457258 0.225   457268 0.006   457278 < 0.005  
  457259 < 0.005   457269 0.081   457279 0.057  
  457260 2.02   457270 0.005        

In view of these interesting results, Big Red is presently planning its 2010 exploration program on its 100% owned Bristol Gold Project, located in the highly prospective West Timmins mining camp. Mechanical trenching and sampling of the mineralized zone of quartz stockwork is planned as well as de-watering of the shaft to better sample the various veins that originate from it. In addition the Company is planning grid establishment followed by ground geophysical surveys (magnetics and induced polarization (IP)) over the property. This work will be carried out in order to map any discrete anomalies that may be associated with structural deformation, or economic concentrations of massive or disseminated sulphide mineralization associated with gold mineralization.

Subject to future results, Big Red will look to initiate diamond drilling to test geophysical features interpreted to be associated with economic mineralization. Additional financing will be sought for the 2010 drill program.

Big Red's Bristol Gold Project consists of three claim blocks ranging in size from 128 to 784 hectares located in Bristol, Godfrey, and Carscallen townships. The smaller block consists of 2 un-surveyed contiguous claims containing 8 claim units covering approximately 128 hectares in Carscallen Township. The blocks are located 6 kilometres north of Lake Shore Gold's Timmins mine and its Thunder Creek discovery (12.83g/t over 83 metres) and in close proximity to Explor Resources' Porcupine West Gold Project. In March 2009, the Company filed on SEDAR a NI 43-101 report for its Bristol project prepared by G.A. Harron & Associates Inc.

About Big Red Diamond Corporation

Big Red Diamond Corporation is a junior exploration company with exploration projects in the West Timmins Gold camp and rare earth elements property near Sept-Iles, Quebec. The Company is also a joint-venture partner with Metalex Ventures and Arctic Star in the Attawapiskat diamond exploration project in the Ontario James Bay Lowlands, surrounding De Beers' Victor diamond deposit.

This press release was reviewed by Clint Barr, P.Geo, a Qualified Person as defined by NI 43-101.

We Seek Safe Harbour

Readers are cautioned that the economic viability of the properties mentioned in this press release has not been established with regards to the terms of legislation under National Instrument NI-43-101. Historical statements as well as statements regarding surrounding properties contained within the news release are provided on a best effort basis by the company based on a review of publically available documents relative to the property and the area.

The TSX does not accept any responsibility for the adequacy and accuracy of the information provided in this news release.

Contact Information

  • Jean-Francois Perrault
    President and CEO
    514-576-5837
    514-904-1788 (FAX)