VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2013) - Redhill Resources Corp. (TSX VENTURE:RHR) ("Redhill" or the "Company") is pleased to report results of an IP Survey completed on sections of its Aspen Properties, located approximately 80 kilometers south-southwest of Vanderhoof, British Columbia in the Blackwater area of the Nechako Plateau region.
The Aspen Properties cover 35,600 hectares in two separate blocks. The Aspen West is strategically located west of the Chu molybdenum deposit (TTM Resources Inc.) and adjoins New Gold Inc.'s Blackwater Property to the northeast of the Blackwater gold-silver deposit. The Aspen East is located east of TTM Resources Inc.'s Chu deposit and 30 kilometres east-northeast of Blackwater. The properties are underlain by the same geological setting present at New Gold's Inc.'s Blackwater deposit which is now estimated to exceed 10 million ounces of gold.
In late 2012, Redhill completed an IP survey of approximately 62.5 line kilometres over five prospective areas. These areas were identified during an earlier reconnaissance sampling program consisting of rock, soil and silt sampling. IP anomalies were recorded in 3 of those 5 areas on the Aspen East property.
The most significant IP anomaly was recorded in an area located just west of Chutanli Lake (on Aspen East) where 4 out 5 lines recorded significant anomalies (over 20 mV) over several hundred meters. The anomaly is open to the southeast and southwest. It coincides with an area of strong sericite dominated alteration which is anomalous in gold, silver and base metals. The Chutanli Zone IP anomaly is located approximately 1 kilometer to the southeast from strong gold, silver and base metal soil anomaly detected in the 90's by Placer Dome. Many Placer Dome soil samples assayed over 100 ppb gold (up to 1.3 g/t) and over 1 ppm silver (to over 30 g/t).
As a result of identifying these coincident geophysical and geochemical anomalous areas, equipment and crews are being mobilized to the Company's Aspen East property to begin a minimum 3,000 metre drill program in mid-March. In addition to the drilling, a follow up program of trenching and soil and biogeochemical sampling is also planned to cover the remaining parts of the property.
This news release has been reviewed by Brent Butler, Director, and a Qualified Person as that term is defined in NI 43-101.
REDHILL RESOURCES CORP.
Andrew Bowering, President & CEO
"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."
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