Red Crescent Resources Limited
TSX : RCB

Red Crescent Resources Limited

August 02, 2011 12:57 ET

Red Crescent Announces Completion and Filing of a NI 43-101 Technical Report on Its Tufanbeyli Zinc Project

Defines Initial Compliant Zinc Oxide Inferred Mineral Resource, Significant Potential for Oxide Mineral Resource Extension, Potential to Define Sulphide Mineral Resources at Depth

TORONTO, ONTARIO--(Marketwire - Aug. 2, 2011) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Red Crescent Resources Limited (TSX:RCB), a mineral exploration and development company focused on base metals in Turkey, today announced that it has received a NI43-101 Technical report incorporating an initial mineral resource statement on its 100% held Tufanbeyli Zinc Project in South Central Turkey within Adana Province.

"This long anticipated report offers us a good code compliant basis for the project to continue as planned. It offers encouragement that with a superior systematic and optimized infill drill program design and execution overseen by the report authors we will be able to achieve a potentially significant upgrade in the resource tonnage, grade and classification in this drilling season," said Mr. Alan Clegg, Chairman, President & CEO of Red Crescent Resources.

Mr. Clegg added, "Further the report effectively offers us new confidence that our acquisition of this potentially significant project was the correct decision. We can now begin execution of our planned rehabilitation of the project access roads and of the old mined pits and underground adits accompanied by mining/removal of zinc oxide mineralised material left on the ground at these locations. These mineralised materials do not form part of the in-situ mineral resources, nor are they reported on in the report, but they have been surveyed and sampled such that broken and available material has been calculated to a volume of 3500 tonnes of strongly mineralised materials and which is intended for use as feed material for the Semi-mobile 20tph Gravity DMS Process Plant that is planned for deployment in September 2011, to produce Zinc Oxide Concentrates for immediate sale."

Some highlights from the report summary are;

  • The Tufanbeyli Project represents a cluster of oxidized Mississippi Valley Type (MVT) zinc – lead deposits hosted by dolomitized Devonian-age limestones. Many of the characteristics of typical MVT type deposits are observed at Tufanbeyli, however in-situ zinc mineralization is mainly in the form of smithsonite and although to date sulphide mineralisation has not been intersected in drilling, there remains good potential for it to occur at depth below the oxide mineralisation.

  • The licenses held by RCR host five prominent zinc prospects of which two (Akcal and Belbaşi) were mined on a small-scale between 1985 and 1998, producing an estimated 210 000 tonnes of ore with grades in the range 20% to 40% Zn. Significant potential exists to define multiple deposits with lower grade but higher tonnage. Potential also exists to define sulphide resources at depth.

  • Drilling has tested most of the zinc prospects; however the extensive zinc and lead soil geochemical anomalies to the southeast of these showings have not yet been tested by drilling. This anomalous geochemistry straddling the two licenses indicate that the mineralized system may extend further than is currently known.

  • Each of these prospects is limited in strike and down-dip extents and the existing historical drilling programs are considered to have not been optimally designed to identify potential extensions. There are significant un-drilled strike lengths between these mineral resource blocks at surface and down-dip to the south-east which could potentially yield additional mineral resources.

  • A grade-tonnage curve for the combined in-situ Inferred Mineral Resource base at Tufanbeyli is shown below. Higher grade zones are patchy and limited in extent, as defined by previous drilling. Systematic drilling is recommended to delineate the strike and dip extent of these zones and to potentially increase the higher grade component of the mineral resource base. It is considered that the combined project area has potential for the delineation of additional mineral resources which should be tested using an integrated approach based on all exploration techniques previously adopted.

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Mike Robertson and Mike Hall, both Qualified Persons as defined by National Instrument 43-101 and authors of the filed report, have reviewed and verified the technical information contained in this news release.

The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

About Red Crescent Resources

Red Crescent Resources (TSX:RCB) is a Turkey-based junior mining company targeting historically inaccessible areas where no modern application of exploration techniques or technology has been applied, with high potential for discovery of significant base metal deposits. For more information, please visit: www.redcrescentresources.com.

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