VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2011) - Red Mile Minerals Corp. (TSX VENTURE:RDM) ("Red Mile") (the "Company") - Red Mile Minerals Inc. is pleased to announce that it has commenced diamond drilling on its Dorset gold property located in northwest Newfoundland, Canada. Red Mile has the right to earn a 100% interest in the Dorset gold property from Tenacity Holdings Ltd. ("Tenacity") of St. John's, Newfoundland.
The Dorset property lies approximately 7km west southwest of Rambler Metals & Mining PLC's Ming Mine Project and 10 km southwest of Anaconda Mining Incorporated's Pine Cove Gold Mine. The Dorset Property is comprised of eight mineral licences encompassing 69 claims totalling 1725 hectares in area.
For a map of the proposed drill program, click here: http://redmileminerals.com/pdfs/Dorset-Project-Drill-Targets-and-Soils-Results-Sept-2011-1.pdf
History
The Dorset property covers 12 kilometers of strike length along the 'Baie Verte Line' crustal suture prospective for gold mineralization in Newfoundland. The property includes the original Dorset showing discovered in 1988 which assayed up to 408 g/t gold in a grab sample followed by representative channel samples from surface trenching of 177 g/t gold over 0.35 meters; 56 g/t gold over 2.5 meters, and 42 g/t gold over 1.5 meters over a strike length of 150 meters. Gold discoveries in the mid-1990's along strike over the 12 km property length include grab samples from outcrop of 10.9 g/t gold, 18.7 g/t gold, and panned concentrates up to 6.2 g/t gold in locally-derived till. None of these have been followed up by diamond drilling or trenching.
Exploration
In preparation for diamond drilling, the Company cut 75 line kilometers of grid in order to facilitate ground based magnetic surveys, IP geophysical surveys, and soil surveys. Magnetic surveys were carried out at 100 meter line spacing, while the IP was carried out on 200 meter spaced lines, and locally tightened to 100 meters when anomalies required detail.
Several high priority anomalies were identified by the geophysical surveys. Approximately 750 B-horizon soils were collected for gold in order to better define the geophysical targets. Samples were collected on 100 meter spaced lines, with a sample spacing of 25 metres.
IP geophysical surveys outlined 4 significant trends consisting of high resistivity, moderate to strong chargeability or a combination of both. These trends ranged in length from 900 to 1400 meters. The most significant trend is a high resistivity target associated with historic grab samples that assayed up to 18.7 g/t gold. This trend is known as the Perseverance trend.
Diamond Drilling
New Valley Drilling Ltd. has been contracted to complete a minimum of 2000 meters of diamond drilling on the property. Eighteen – twenty holes will be drilled to test these anomalies over a 3.3 kilometer strike length.
Qualified Person
Kerry Sparkes, M.Sc., P.Geo and Director of Red Mile is the Qualified Person responsible for the technical information contained within this release.
About Red Mile Minerals
Red Mile Minerals is a tightly held mineral exploration company with a gold property along the prolific Destor-Porcupine gold-producing region in Ontario and the Dorset Property in Baie Verte, Newfoundland. Red Mile continues to seek additional mineral exploration opportunities where the company's exploration expertise and corporate share structure has the potential to substantially enhance shareholder value. Currently there are 16,975,000 shares issued and outstanding.
On behalf of the Board of Red Mile Minerals Corporation
John Hickey, President and CEO
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:
John V. Hickey
President & CEO
(416) 637-2139
office@redmileminerals.com
www.redmileminerals.com