Red Crescent Resources Limited

Red Crescent Resources Limited

November 02, 2011 07:00 ET

Red Crescent Provides Exploration Update on Sivas Copper Project

Confirms copper mineralization in the Main Listvenite Zone (MZ)

TORONTO, ONTARIO--(Marketwire - Nov. 2, 2011) - Red Crescent Resources Limited (TSX:RCB), a base metals focused mineral exploration and development company with operations in Turkey, today announced that assay results have been received for the first bore hole drilled in the Main Listvenite Zone (MZ) that forms part of its exploration program at its Sivas Copper Project. All grades reported have been subject to, and have passed, Quality Assurance/Quality Control (QA/QC) protocols.

MZ-1 Results (on License no 60061)

Results from the first drillhole MZ-1 in the MZ of the Sivas Copper Project have been received. This hole was drilled as part of a systematic program to test listvenite units on the MZ and South East Zone (SEZ) of the Sivas Copper Project. These units extend for approximately 5 km on strike within the project area.

Laboratory results received from the analysis of core samples from MZ-1 are in line with initial indications for copper (Cu) as obtained by handheld NITON XRF spectrometer results on the core. Low-level gold (Au) enrichment is also observed with a maximum value of 0.124 g/t Au, which lends support to anomalous gold values previously obtained from soil geochemical results in the immediate vicinity of MZ-1.

Drilled thickness intervals are quoted as weighted average grades for mineralised intersections using a ≥0.25% copper cut-off. True mineralised widths are not quoted as further work is required to correlate data with adjacent drill holes to determine the geometry of mineralisation within the listvenite unit Results to date however indicate a true thickness of the listvenite zone of 60m at a dip of approximately 60°. Core recovery in the mineralized Listvenite is good at + 90%.

MZ-1 (for details of the strip log refer to link)

Drilled Thickness (m) Weighted Average Cu (%) Depth from Depth To
10 0.49 27.8 37.8
Including 5.8 0.60 30.0 35.8
1.1 0.42 48.4 49.5
1 0.33 68.4 69.4

These results are considered encouraging in that they confirm the presence of copper mineralised zones previously known from geological mapping and soil geochemical surveys, as well as the potential for gold mineralisation. Listvenites within the Sivas Copper Project are derived from serpentinite-dominated ultramafic rocks. Listvenites are known to host gold mineralisation elsewhere in the world.

Gold and multi-element assays were performed by ISO17025 accredited ALS Chemex laboratories in Izmir, Turkey and Vancouver, Canada. Sample preparation and gold analysis using conventional fire assay procedures with AAS finish on 50g aliquots was carried out by ALS Chemex in Izmir (method code Au-AA24). Multi-element analysis was carried out by ALS Chemex in Vancouver using a 4-acid digest and inductively coupled plasma (ICP) finish (method code ME-ICP61a).

Quality Assurance/Quality Control (QA/QC) for the Sivas Copper Project includes a chain of custody protocol, and systematic submittal of approximately 20% QA/QC samples including field duplicates, field blanks and certified reference samples into the sample stream submitted to the laboratory.

ALS Chemex laboratory results on 5 samples taken over 1m from a shear zone ~ 40cm thick within a listvenite outcrop at the contact with ultramafic rocks, returned high Ni and Zn grades (on average 12.6% Ni, 10.1% Zn, 0.21% Pb, 0.14% Co and 0.16% As) which could be interesting pending continuity. These samples were taken ~ 350m SE of MZ-1. A small Ni mine is situated ~ 3 km from the SEZ. Stockpile samples from this mine are very similar to the above mentioned samples.

"We are pleased with the Exploration progress to date notwithstanding challenging adverse weather conditions and very fragmented ultramafic rocks having negatively impacted on drilling progress," remarked Douglas Taylor, Director and General Manager of Sivas Cu Project. "Seven drillholes have been completed, 937m drilled; of which 512m is in the target listvenite unit (2 boreholes in the MZ and 5 bore holes in the SEZ). Analysis of samples from these drillholes is expected during November 2011. It is planned to complete another 4 drillholes (~ 600m) during November, weather permitting, giving a total of 11 drillholes. The ALS Chemex Laboratory results for all boreholes should be available during December 2011."

The Sivas Project is located in the Sivas region of north-east Central Turkey, approximately 650 km northwest of Red Crescent's Hakkari Zinc Project and 400 km north-east of the Company's Tufanbeyli Zinc Project, located at Adana.

Mike Robertson, a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information contained in this 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:

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