Red Lake Exploration, Inc.
OTC Bulletin Board : RLKX

Red Lake Exploration, Inc.

March 17, 2008 09:00 ET

Red Lake Exploration, Inc. Begins Exploration Program at the Camila Copper-Gold Property in Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2008) - Red Lake Exploration, Inc. (OTCBB:RLKX) has begun exploring the Camila Breccia, its copper-gold project in the Candelaria iron-oxide-copper-gold (IOCG) belt of Chile's coastal cordillera.

The exploration program consists of six drillholes totaling approximately 1000 metres of diamond drilling on two previously identified mineralized structures. Drilling will target depth extents of surface copper mineralization and coincident IP anomalies associated with the Camila Breccia. Grab samples from the Camila Breccia have returned 1.15% Cu. A second target along the El Zorro Vein is planned to intercept depth and strike extents of the known mineralized structure. Grab samples on the El Zorro have returned gold results up to 7.5 g/t Au.

The Camila Breccia is an early-stage exploration project that was last explored in the late 1990s by Trilogy Metals, Inc. Previous work included a property-wide geological mapping and sampling program and a geophysics IP (induced polarization) survey. Two mineralized structures were identified from this work, the El Zorro Vein and the Camila Breccia. The El Zorro vein is a gold-bearing specular hematite-pyrite-quartz vein exposed on surface for approximately 1.2 kilometres with an interpreted total strike length of approximately 2.4 kilometres. The Camila Breccia is a large specular hematite-quartz hydrothermal breccia outcrop approximately 250 metres in diameter.

Red Lake is concentrating its exploration in the under-explored Candelaria IOCG belt of Chile that is host to Freeport-McMoRan's Candelaria Mine, with reported mineable reserves of 470 Mt @ 0.95% Cu, 0.22 g/t Au and 3.1 g/t Ag; and Anglo American's Manto Verde Mine, with reported proven and probable reserves of 67.2 Mt @ 0.63% Cu in 2006. The Camila property is one of several properties Red Lake has acquired in the region.

The company's president, John Di Cicco, says that, "This is a very exciting point for Red Lake. It is the first step in our plan to find resources in the under-explored Candelaria IOCG belt."

About Red Lake Exploration, Inc.

Red Lake Exploration, Inc. is engaged in acquiring, exploring and developing natural resource properties in Chile. Its headquarters are in Richmond, Canada.

Contact Information

  • Red Lake Exploration, Inc.
    John Di Cicco
    President
    (604) 961-0301