Ruby Red Resources Inc.
TSX VENTURE : RRX

Ruby Red Resources Inc.

October 08, 2009 09:25 ET

Ruby Red Resources Inc. Maps 5.8 Km Long, 65-100 M Wide Gold-Bearing Unit

CALGARY, ALBERTA--(Marketwire - Oct. 8, 2009) - Ruby Red Resources Inc. ("Ruby Red" or the "Company") (TSX VENTURE:RRX) summarizes 2009 field work on its Spirit Dream Property which is part of the Kimberley Gold Trend ("KAT"). Ruby Red is a small company with a large land position; approximately 50,644 hectares (approximately 125,144 acres) in south-eastern British Columbia, Canada. Our mission: to define quality mineral exploration opportunities that can be developed in a sustainable and environmentally responsible manner and that can contribute to the economic and social well-being of local communities.

Gold Target on Spirit Dream Property has 5.8 km Strike Length

Ruby Red Resources Inc. is pleased to provide a preliminary 2009 field program update. Work focused on the Spirit Dream, Eddy and Zinger gold properties (ref. News Releases March 3 and March 19). 

Ruby Red is pursuing a suitable industry partner to share in exploring its extensive land holdings. To date three major explorers have visited the Company's properties and Ruby Red continues to negotiate future partnerships. For example, one of these companies stated that "The extensive land package assembled by Ruby Red has one of the more impressive regional scale gold endowments I have ever encountered" (Darrel Johnson, Senior Manager, Hunter Dickinson Acquisitions Inc.).

We report herein on preliminary results from 2009 geological mapping and trenching on the Spirit Dream Property(1), a component of the Kimberley Gold Trend (KAT). The KAT is a metal-rich boomerang-shaped region roughly 30 km wide and more than 100 km long that extends from the Purcell Mountains east, across the Rocky Mountain Trench where it bends north to occupy a swath of the western-most Rocky Mountains. Ruby Red has mineral titles within the KAT totalling approximately 46,350 hectares (approximately 114,533 acres).

Summary: A successful trenching program in October, 2008 exposed multi-gram gold-bearing quartzite (ref. News Release March 3, 2009). This field season, the quartzite target was mapped in detail for a strike length of 5.8 km (open to the north) from the Wild Horse River north beyond Tackle Creek; true width of the quartzite unit is 65-100 m; dip is consistent to the west. The continuity and consistency of alteration and vein density along and across strike combined with the presence of visible gold and rock samples having anomalous gold values are strong indicators that a major gold-bearing system is present.

The 2008 trenching program was extended in September 2009 – geochemical results are pending.

In the opinion of Ruby Red, the Spirit Dream Property is a likely source for the rich gold placers mined downstream on the Wild Horse River.

Bulk Tonnage Potential: Bulk tonnage potential of the Spirit Dream quartzite unit is supported by the following observations: 1) Target size measured in km's of strike length; 2) cm to mm-scale breccias, stockworks and veins distributed throughout the unit; 3) ubiquitous sericite-quartz-pyrite (with iron-carbonate and iron -oxide) alteration; and 4) widely distributed anomalous gold. Outcrop samples taken in 2008 were typically 0.5 g to 1.0g augmented by two multi gram samples; several multi gram samples were taken in 2005 (ref. News Release, March 3, 2009)

Vein-stockwork type: Veins and accompanying stockworks have a preferred orientation perpendicular to bedding with little or no evidence of offset. It would appear the quartzite was a conduit that focused the flow of fluids under high fluid pressures. Hydraulic fracturing may have played an important role in the mineralizing process. Fluid resurgence is indicated by multiple cracking events.

Alteration: Veins are quartz filled, often with iron-carbonate selvages; disseminated pyrite is common and may have associated Cu sulphide minerals. Iron-oxide, especially deep-red varieties, is common and a good indicator of gold mineralization.

Structural-stratigraphic Setting: The Spirit Dream quartzite forms the overturned east limb of a large anticline that can be traced from the Wild Horse River to Wasa. The quartzite belongs to the Aldridge Formation, near its upper contact with the Creston Formation.

Quartzite 2.5 km west of and parallel to the Spirit Dream unit is a structural repeat across a shallow west-dipping extension (normal) fault. Soil anomaly patterns suggest it too contains anomalous gold.

Evidence for a Magmatic Event: Nearby dikes of porphyritic to megacrystic syenitic granite suggest there may be a magmatic component to the mineralizing system. These intrusions are widely spaced and typically several metres or less in thickness; however they are compositionally and texturally similar to the Cretaceous Estella stock, located 6 km to the northwest. It is possible that one or more intrusions are present beneath the Spirit Dream gold anomaly.

A Model: The role of fluid pressure during fold and thrust fault deformation has been emphasized to now. The recognition of a magmatic component adds a new and important element to the geological scene. Intrusions may have acted as heat pumps and/or the source of metals. The quartzite was a receptive conduit and host. Given the widespread extent of sericite-quartz-pyrite alteration on and beyond the Spirit Dream Property, this augers well for the deposition of a large-tonnage deposit, however, there is no certainty further exploration will lead to the discovery of such a deposit.

This news release has been reviewed and approved by Dr. Robert I. Thompson, Ph. D, (Geology), hereby designated as a "Qualified Person" under National Instrument 43-101.

About Ruby Red Resources Inc.
Ruby Red was formed to participate in the acquisition, exploration and development of mineral claims in the Fort Steele Mining Division of British Columbia for the purpose of exploring for precious and base metals. Ruby Red holds 100% working interests in 163 mineral claims (approximately 50,644 hectares), all located within 80 kilometres of Cranbrook, B.C. in the Purcell and Rocky Mountains.

Certain statements contained in this news release constitute forward-looking statements (the "forward-looking statements"). These statements relate to future events or our future performance. All Statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, level of activity, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements and information.

Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: general economic conditions in Canada, the governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; and the other factors described in our public filing available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking statements to conform such statements to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. The reader is cautioned not to place undue reliance on forward-looking statements.


(1) UTM Zone 11 605250E 5509800N

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