Ruby Red Resources Inc.
TSX VENTURE : RRX

Ruby Red Resources Inc.

October 18, 2007 23:59 ET

Ruby Red Resources commences Rockies drill program

CALGARY, ALBERTA--(MARKETWIRE - Oct. 18) - Ruby Red Resources Inc. (TSX VENTURE:RRX) ("Ruby Red") announces that it has commenced drilling on its 100% owned Loose Leg and Jacleg properties situated within its Rockies claim block.

The Loose Leg target is structurally controlled gold associated with Cretaceous felsic intrusions. The property is within a suite of mineralized intrusions that are the focus of Ruby Red's extensive property position in the Cranbrook area of the East Kootenays. The Loose Leg property contains a large gold in soil anomaly that parallels the Rocky Mountain Trench and has a strike length in excess of 15 kilometres; the entire strike length is held by Ruby Red Resources. The property covers part of a large east verging recumbent to overturned fold structure that is cut by both thrust and cross cutting fault systems. Gold mineralization is associated with both fault sets. Initial drilling will target a single gold and base metal mineralized cross fault that hosts extensive quartz vein breccias and both coarse grained and fine grained syenite masses.

The Jacleg target will test the Lewis Creek fault which transects the same large gold in soil anomaly associated with the Loose Leg claim block. The Lewis Creek fault feature covers the locus of an oblique structural intersection between the fault and the gold in soil anomaly. Two drill holes are planned to test the fault at a gold copper and cobalt soil geochemistry anomaly and a strong disseminated chalcopyrite showing within a thick, coarse grained Proterozoic sequence of Fort Steele quartzites.

This drilling program is Ruby Red's second since becoming a publicly traded company. In the spring of 2007 Ruby Red tested targets on its Zeus and Gar properties within its Purcell claim block. The first drilling program was highlighted by a 57 metre intersection of 0.63% Cu on its Zeus property within a porphyry setting and anomalous gold (3.04 gms/tonne over 1.3 metres) within a quartz monzonite stock at the Gar property.

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 135 mineral claims (approximately 40,000 hectares), all located within 35 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.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED, AND DOES NOT ACCEPT RESPONSIBILITY FOR, THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

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