Ruby Red Resources Inc.
TSX VENTURE : RRX

Ruby Red Resources Inc.

February 26, 2008 23:59 ET

Ruby Red Resources- Results from renewed drilling at Zeus

CALGARY, ALBERTA--(Marketwire - Feb. 26, 2008) - Ruby Red Resources Inc. (TSX VENTURE:RRX) ("Ruby Red") announces that the most recent drilling at its 100% owned Zeus Property tested a gold target 1600 metres south-southwest of DDH Z-07-1 (drilled earlier in 2007) which intersected 57 metres of 0.63% copper along with anomalous silver (3.78 grams/tonnes over 57 metres), bismuth (up to 130 ppm over 10 metres) and cobalt (up to 304 ppm over 46 metres). The anomalous copper occurs within a 120 metre intercept of porous, vuggy, hydrothermal pyrite quartz-albite breccia. Porphyritic syenite dikes flank the quartz breccia and support a porphyry model. Anomalous gold mineralization exists at the margins of the quartz-albite breccia adjacent to the syenite dykes. The gold and copper (+Ag, Bi and Co) mineralization are part of a large argillic, sericitic and silicic alteration zone that is in part controlled by district-scale structures that trend east-west and north-northeast.

Two drill holes were targeted on a gold-bearing north-northeast striking quartz breccia zone 1600 metres south-southwest of DDH Z-071 and on a structure that links the two areas. Surface exposures are minimal and the drilling was in part intended to establish the character of the gold-mineralized zone.

Both holes were drilled at the same azimuth, easterly to cross the westerly dipping structure and at dips of -45 and -80 degrees. Both holes encountered a wide 14 to 16 metre zone of quartz veining and a complex hydrothermal pyretic quartz-dolomite breccia. The quartz vein zone carries minor galena and anomalous gold with 2 grams/tonne gold over a 2 metre wide interval (including 3.68 grams/tonne gold over 80 cm). The steeper drill hole encountered a 4 metre wide zone of argillic-altered sediments within the quartz vein zone; this interval is not present in the upper hole and along with increasing molybdenum vales with depth, suggests that stronger porphyry
style mineralization exists at depth. Both holes terminated within the quartz-dolomite breccia.

Permitting is underway to enable continued drill testing of both the copper and gold intercepts on the Zeus Property. A deeper drill hole is planned to step out from the Z-07-1 intercept of 57 metres of 0.63% copper; this hole will test the system along the east-west oriented controlling structure below an extensive intense argillic-altered zone where a coincident copper-in-soil anomaly exists at surface. Both the intense argillic-altered zone and the large quartz-albite-pyrite breccia (with Cu, Bi and Co) are interpreted to be high elevation features of a buried porphyry system.

The Zeus is one of a suite of porphyry targets within the Cranbrook area of southeast British Columbia that Ruby Red is continuing to evaluate. Four porphyry targets (Zeus, Gar, Lov and Loose Leg) are at an early drill-ready stage with much of the preliminary surface evaluation work completed. Three other porphyry targets (Do Drop, Zinger and Tiger) are at earlier stages of evaluation.

The 2007 program was carried out under the supervision of Peter Klewchuk, P. Geo., hereby identified at the "Qualified Person" as under N.I. 43-101 and drilling services were performed by F. B. Drilling of Cranbrook, B.C.

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 144 mineral claims (approximately 44,000 hectares), all located within 80 kilometres of Cranbrook, B.C. in the Purcell and Rocky Mountains.

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. 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, which include but are not limited to risks inherent in the mining industry, regulatory and economic risks, and risks associated with the company's ability to implement its business plan. The company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements.

Contact Information

  • Ruby Red Resources Inc.
    Randall Tronsgard
    Vice-President, Corporate Development
    (403) 770-1346