Red Crescent Resources Limited

Red Crescent Resources Limited

February 22, 2012 11:08 ET

Red Crescent Resources Announces Exploration Update on Sivas Copper Project

TORONTO, ONTARIO--(Marketwire - Feb. 22, 2012) - Red Crescent Resources Limited ("RCR") (TSX:RCB)(FRANKFURT:7RC), a mineral exploration and development company focused on base metals in Turkey, today announced a summary of its Sivas Copper Project exploration results over the period July to December 2011.

Exploration Target Results on Main and South East Zones

The exploration program was targeting the massively surface outcropping Listvenite mineralise zones known as the Main Zone (MZ) and South East Zone (SEZ) within the total project area of approximately 5000 hectares. The MZ is expressed at surface averaging 75m to 100m in width over a 4500m almost continuous strike length, is a brecciated and mineralised carbonate (Listvenite) in a thrust zone, i.e. structurally controlled. The SEZ is also expressed at surface, narrower than the MZ but still significant at an average of 30m width over an observed strike over 1500m, but less continuous and still open on strike within the local and regional structural control.

A total of 1151 meters of diamond drilling was completed on both the MZ and the SEZ within the targeted listvenite from mid-July to early December 2011. The focus of the diamond core drilling in the reporting period was within the SEZ in order to comply with immediate requirements under the regulations required for the extension of this license for a further 10 yrs.

Two of the eight holes completed in the SEZ, SEZ-007 and SEZ-008, and one of the two holes completed on the main zone, MZ-001, returned the most promising copper grades. Another drill hole MZ-002 importantly targeting an attractive high resistivity/high conductivity IP anomaly could unfortunately not be completed due to late season adverse weather conditions and very fragmented ground conditions being experienced. This hole will be completed and/or re-drilled as a priority in the 2012 season.

The above mentioned holes drilled were part of a systematic program to test listvenite units on the MZ and SEZ of the Project. These units extend for approximately 6 km on strike within the project area.

Drilled thickness intervals in the table below 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. Core recovery within the listvenite is good at + 90%.

Results for MZ 001, SEZ 007 and SEZ 008 are summarized in the table below:
SEZ-007 (drilled at 30 degrees) SEZ-008 (drilled at 50 degrees)
From To Length(m) Cu-% From To Length(m) Cu-%
30.7 31.7 1.00 0.59 27.0 27.9 0.90 0.31
32.7 33.7 1.00 0.78 27.9 28.8 0.90 0.63
33.7 34.7 1.00 0.85 28.8 29.8 1.00 0.56
34.7 35.7 1.00 0.84 31.8 32.8 1.00 0.53
40.7 41.7 1.00 0.30 32.8 33.8 1.00 1.03
43.7 44.7 1.00 1.14 33.8 34.8 1.00 0.88
44.7 45.7 1.00 0.51 34.8 35.8 1.00 0.48
48.9 49.9 1.00 0.40 48.0 49.0 1.00 0.48
51.1 52.1 1.00 0.80
52.1 53.3 1.20 0.25
53.3 54.3 1.00 0.59
54.3 55.3 1.00 1.02 MZ-001 (drilled at 50 degrees)
55.3 56.5 1.20 0.86 From To Length(m) Cu-%
56.5 57.5 1.00 1.20 27.8 28.8 1.00 0.39
57.5 58.5 1.00 1.90 28.8 30.0 1.20 0.31
58.5 59.5 1.00 1.22 30.0 30.8 0.80 0.70
59.5 60.5 1.00 0.76 30.8 31.8 1.00 0.64
60.5 61.6 1.10 0.99 31.8 32.8 1.00 0.38
62.6 63.6 1.00 0.43 32.8 33.8 1.00 0.53
63.6 64.6 1.00 0.33 33.8 34.8 1.00 0.79
64.6 65.6 1.00 0.76 34.8 35.8 1.00 0.57
65.6 66.6 1.00 0.33 35.8 36.8 1.00 0.33
69.6 70.6 1.00 0.44 36.8 37.8 1.00 0.34
70.6 71.7 1.10 0.35 48.4 49.5 1.10 0.42
73.7 74.5 0.80 0.68 68.4 69.4 1.00 0.33
74.5 75.5 1.00 0.31
81.5 82.5 1.00 0.38
Alternatively, these results can be presented in terms of potential future bulk mining as follows:
SEZ-007 (drilled at 30 degrees) SEZ-008 (drilled at 50 degrees)
From To Length(m) Cu-% From To Length(m) Cu-%
30.7 75.5 44.8 0.46 27.0 35.8 8.8 0.39
Including 48.0 49.0 1.0 0.48
43.7 45.7 2.0 0.83
51.1 61.6 10.5 0.94 MZ-001 (drilled at 50 degrees)
80.5 82.5 2.0 0.29 From To Length(m) Cu-%
From To Length(m) Ni-% 23.8 37.8 14.0 0.39
38.7 42.7 4.0 0.46 47.8 49.5 1.7 0.32
From To Length(m) Ni-%
23.8 25.8 2.0 0.33

Hole SEZ-007 and SEZ - 008 were drilled as follow-up to encouraging results obtained from surface channel sampling over a 60m wide zone of outcropping copper mineralisation within listvenite exposures in the SEZ.
Sampling was undertaken in the form of continuous 2 m channel samples, with samples being analyzed for copper by aqua regia digest and atomic absorption spectroscopy (AAS) finish. The central portion of the sampled zone contains stockwork quartz and barite veining and returned an average grade of 1.04% Cu over approximately 26 m including a higher grade zone of 2,1% Cu over 4 m.

Copper, gold and multi-element analyses for the promising 3 drill holes in the targeted mineralised zones were performed by ISO17025 accredited ALS Chemex laboratory in Vancouver, Canada. 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.

With known occurrences of Cu (Copper), Ni (Nickel), Zn (Zinc), Co (Cobalt), and to a lesser extent elevated Au (Gold) values, the polymetallic potential within the targeted listvenite zone is clearly indicated. Furthermore exploration drilling to date has only covered approximately 1% of the targeted potential listvenite on the Project.

"Notwithstanding challenging adverse weather conditions, delays in commencement of drilling (due to securing additional exploration permits on forestry land) and very fragmented ultramafic rocks encountered on the MZ which negatively impacted on drilling operational performance, we are pleased with the exploration program completed in 5 months during 2011 resulting in promising potential for copper." remarked Douglas Taylor, Director and General Manager of Sivas Cu Project. "In addition, six 6kg samples of various mineralized portions of the listvenite sourced on both the MZ and SEZ were sent by secure courier to South Africa for preliminary Mineralogical assessment and laboratory scale Metallurgical test work (including heavy media separation, flotation and leaching) during December 2011, and the results thereof are expected during March 2012. The initial heavy media separation and flotation test results on 2 of these samples are encouraging."

RCR has planned for 10 000m diamond core drilling in 2012 (~ 55 drill holes) on specific targets identified during systematic rock sampling and, most importantly, to test attractive high resistivity/high conductivity IP anomalies within the listvenite on both the MZ and SEZ. Weather permitting, drilling is expected to commence in late April or early May 2012. Additional mapping (including detailed structural mapping), focussed rock/soil and trench sampling and limited focussed geophysics is planned during 2012.

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

Alan M. Clegg Pr.Eng FSAIMM, a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information contained in this release.

Forward-looking statements

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)(FRANKFURT:7RC) is a Turkey-based junior mining company targeting historically inaccessible areas where generally no modern application of exploration techniques, mineralogical and metallurgical assessment or technology has been applied, with potentially significant base metal deposits under development. RCR's strategic and operational focus is fundamentally under-written by virtue of its situational geography, i.e. within Turkey as one of the fastest growing industrial economies. The sustainability of this growth is dependent upon Turkey's ability to fund the growing balance of payment deficit caused by its continued and accelerating growth in consumption of the main industrial base metal & other mineral commodities; four of the top six are Copper, Zinc, Lead, and Ferro-metals. RCR is the leader in the drive for Turkey to be as far as possible self sufficient by virtue of its ability to produce the key industrial base metal commodities required by 2023. For more information, please visit:

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