Redcorp Ventures Ltd.
TSX : RDV

Redcorp Ventures Ltd.

July 19, 2005 09:00 ET

Redcorp Ventures Ltd.: Portugal Drilling Program Commencing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 19, 2005) - REDCORP VENTURES LTD. (TSX:RDV) and its wholly-owned subsidiary Redcorp Empreendimentos Mineiros Unipessoal Lda ("REM") (together, the "Company") are pleased to provide an update on activities on the Lagoa Salgada exploration concession, held 100% by REM, located in the prolific Iberian Pyrite Belt of southern Portugal.

The drill program is scheduled to commence on July 22 with percussion pre-collar drilling and casing of the Tertiary sediments which overlie the host bedrock. Diamond drilling will follow the pre-collaring program, to allow coring and evaluation of the targets. These targets have been defined by a comprehensive compilation and re-processing of available drilling information and geophysical data gathered by earlier operators.

The recent 3D gravity inversion completed on the existing data for Lagoa Salgada has resulted in several high-quality targets in the vicinity of the known mineralization. This work also shows a clear density anomaly exactly coinciding with the existing, partially-defined sulphide lens. This information is depicted at the Company's website at www.redcorp-ventures.com/RedcorpLagoa.htm showing a map of the modeled bedrock density.

This map was created by 3 dimensional inversion of the existing gravity data. This technique has only recently become commercially practical due to increases in computing power and has not been applied to the Lagoa Salgada property in the past. The density anomalies which resulted from the inversion provide a different picture than the raw gravity data, which is all that was available to guide the drilling done in the 1990's. The model depicts a series of density anomalies over an area extending 6 kilometres E-W and 4 kilometres N-S. This distribution of density anomalies has dimensions typical of many of the known massive sulphide deposit clusters in the Iberian Pyrite Belt. Most of the anomalies remain untested by prior drilling.

The volcanic rocks which host these anomalies at Lagoa Salgada lie on an extension of the volcanic stratigraphy which hosts the Caveira, Lousal and Neves Corvo massive sulphide deposits, to the south and east. A parallel belt of favourable volcanic rocks extends under the east side of the Lagoa Salgada property. The Aljustrel Mine and associated massive sulphide deposits is located to the south and east within this belt. A regional geology map showing these relationships is also available on the Company's website.

Redcorp Ventures Ltd. is a Vancouver based mineral exploration and development Company with active projects in British Columbia, Canada and Portugal. Further information on Redcorp and REM can be obtained on the Company's website at www.redcorp-ventures.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF REDCORP VENTURES LTD.

Terence Chandler, President

Robert G Carmichael, P.Eng. is Vice-President of Exploration and the designated QP for the Lagoa Salgada Project. Lithogeochem analyses of drill core samples are obtained from sawn core using standard analytical techniques. Analyses have been conducted by Acme Labs in Vancouver BC.

This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward looking statements.

News Release 05-07

Contact Information

  • Redcorp Ventures Ltd.
    Terence Chandler
    President
    (604) 669-4775 or Toll Free: 1-888-669-4775
    (604) 669-5330 (FAX)
    www.redcorp-ventures.com