REC Minerals Corp.
TSX VENTURE : REC

REC Minerals Corp.

September 09, 2010 08:00 ET

REC Minerals Announces Results of Up to 10.8 Grams/Ton Gold and 228 Grams/Ton Silver from Chip Sampling at Its MC Dalhousie Project

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2010) - REC Minerals Corp. ("REC" or the "Company") (TSX VENTURE:REC) is pleased to announce the return of excellent results from its summer surface exploration program on its MC Dalhousie Property located ten kilometers north of the town of Stewart, in northwestern British Columbia, Canada (the "Property" or "MC Dalhousie"). The Company has an option to acquire up to a 100% interest in the Property.

Analytical results from rock and soil sampling at MC Dalhousie show the presence of high grade gold (Au), silver (Ag), copper (Cu), zinc (Zn), and lead (Pb) concentrations in surface showings. 

Exploration grids were placed over four main showing areas at MC Dalhousie where ground magnetic and soil sampling surveys were completed. In addition, samples of rock outcrop were obtained from the four areas plus an additional showing in the vicinity.

Results at the five showing areas at MC Dalhousie are summarized as follows:

Cairn Showing: A rock chip sample of a half metre wide shear zone returned values of 10.8g/t Au, 228g/t Ag, 9.47% Zn and 20.8% Pb within an area hosting Au, Ag, Zn, and Pb soil geochemical anomalies. One soil sample was found to contain 1.73g/t Au, 47.5g/t Ag, 1.26% Zn and 1.98% Pb.

Rock of Ages Showing: A series of grab rock samples returned values containing up to 66.5 g/t Ag, 15.1% Zn and 3.39% Pb within an area hosting a large soil geochemical anomaly approximately 150 metres long and 50 metres wide averaging 0.35 g/t Au, 19.1 g/t Ag, 1.3% Zn and 0.58% Pb. The showings are found over a length of 400 metres and are associated with chert-hematite-jasper strataform rocks hosting a high magnetic signature.

Ice Showing: An Au-Ag-Zn-Pb soil anomaly returned values of up to 0.45 g/t Au, 9.5g/t Ag, 0.05% Zn and 0.11% Pb; and 0.22g/t Au, 26.3 g/t Ag, 0.80% Zn and 1.33 % Pb. The showing is associated with a large airborne high magnetic anomaly which was partially delineated in the ground survey.

Dalhousie Showing: A grab rock sample returned a value of 0.24 g/t Au, 26.5 g/t Ag and 2.03% Cu associated with a ground high magnetic signature and a soil anomaly containing up to 0.37 g/t Au. 

Aztec Showing: Two grab rock samples showed values averaging 0.125 g/t Au, 38.1 g/t Ag, and 2.09% Cu.

The showings occur over an area 2.0 kilometres by 1.5 kilometres on the summit and east slope of Bear River Ridge located two to three kilometres east of the formerly producing gold-silver-copper-lead-zinc Silbak Premier Mine. The Silbak Premier Mine is located on the west slope of the Bear River Ridge.

"The very encouraging surface showings at MC Dalhousie demonstrate the potential for hosting either gold or poly-metallic mineralization of economic grade and size," said Kabir Ahmed, Chairman, President and CEO of REC. Mr. Ahmed added, "The strong surface showings support that the Company proceed next with a program of diamond drill testing at MC Dalhousie."

Based upon the results of REC's initial summer surface exploration program at MC Dalhousie, a follow-up surface exploration program is presently underway on the Property focusing on gathering additional chip samples in the vicinity of the Dalhousie and other showings in order to refine diamond drill targets. 

Rock and soil samples were sealed in secure packages and delivered by a qualified person (QP) to ECOI Tech Laboratory Limited in Kamloops, B.C. for Au 2-30 assay (gold fire assay with atomic absorption finish), agua regia digestion plus ICP-AES multi-element analysis, and ore grade analysis for those samples containing either >1000 ppb Au, 30 ppm Ag, or >10,000 ppm Cu, Zn or Pb. Pulps of selected samples will be forwarded to a second laboratory for check analysis. Poly-metallic standards were included with each shipment of samples. ECOI Tech Laboratory fulfilled standard QA/QC protocols. 

Trevor Boyd, Ph.D., P.Geo., a Qualified Person as defined by National Instrument NI 43-101 ("NI 43-101") and Vice-President of Exploration for REC, directed the MC Dalhousie exploration program and supervised the preparation of the technical information contained in this press release in compliance with NI 43-101. Dr. Boyd is also the President and a director and the controlling shareholder of Millennium Minerals Limited which has granted to REC an option to earn a 100% legal and beneficial interest in the North Nonacho Property located in the Northwest Territories.

ABOUT REC

REC is a junior mineral exploration company with an experienced management team engaged in the acquisition, exploration and development of properties for the mining of precious and base metals and uranium. The principal property of REC is the Yukon Olympic Property, comprised of 272 quartz mining claims in the Dawson Mining Division, Yukon Territory, Canada, which is prospective for iron oxide, copper and gold mineralization and in which REC holds an option to acquire up to a 65% interest. The Corporation also holds an option to acquire a 100% interest in the North Nonacho Property comprised of two mining claims covering 60 units in the vicinity of Nonacho Lake, Northwest Territories, Canada, an option to acquire a 100% interest in the MC Dalhousie Property comprised of two mineral claims located in northwestern British Columbia, Canada, and an option to acquire a 100% interest in the Esten Property comprised of 26-claim unit block located 10 km south of Elliott Lake, Ontario, Canada. The common shares of REC trade on the TSX Venture Exchange under the stock symbol "REC". The Company has 16,575,000 common shares issued and outstanding.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of REC or the industry in which it operates to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of REC with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading "Risk Factors", in REC's prospectus and in other continuous disclosure documents that will be filed by REC from time to time with the Ontario Securities Commissions which are available at www.sedar.com and to which readers of this press release are referred for additional information concerning REC, its prospects and the risks and uncertainties relating to REC and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of REC to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, REC cannot assure investors that actual results will be consistent with these forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

The forward-looking information contained in this press release is current only as of the date hereof. REC does not undertake or assume any obligation, except as required by law, to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

No securities commission or regulatory authority has approved or disapproved the contents of this press release.

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.

Contact Information

  • REC Minerals Corp.
    Kabir Ahmed
    Chairman, President and Chief Executive Officer and Director
    (416) 365-6580
    (416) 946-1951 (FAX)