Reliant Gold Corp.
TSX VENTURE : REC

Reliant Gold Corp.

September 12, 2011 08:00 ET

Reliant Gold Announces Results of Drilling at Its MC Dalhousie Project

TORONTO, ONTARIO--(Marketwire - Sept. 12, 2011) - Reliant Gold Corp. ("Reliant" or the "Company") (TSX VENTURE:REC) announces the return of geochemical analyses from its diamond drilling program on its MC Dalhousie Property located 16 kilometers north of the town of Stewart, in northwestern British Columbia, Canada (the "Property" or "MC Dalhousie"). MC Dalhousie is situated approximately two kilometres east of the formerly producing gold-silver-copper Silbak Premier Mine on Bear River Ridge, north of the Alaska-British Columbia border. The Silbak Premier Mine was in production between 1918-1968 and between 1969-1996. MC Dalhousie has good access to infrastructure, including water and electricity, highway access, and a nearby 2,000 tonne per day milling facility.

The Company has an option to acquire up to a 100% interest in the Property.

Reliant completed its diamond drilling program, which was comprised of 710 metres in three drill holes, during July 2011. Drilling focused on the testing of surface geochemical rock and soil Au-Ag-Zn-Pb-Cu anomalies supported by favorable magnetic signatures from a surface exploration program completed in 2010. The drilling tested the Rock of Ages No.3 Showing which is found from previous work to host precious and base metal bearing veins and breccia bodies. The showing is aligned along a prospective northwesterly trend for approximately 1,200 metres which includes the Rock of Ages No.2, Dalhousie, and Cairn showings. The drilling encountered hydrothermally altered sericite-chlorite-carbonate-sulphide rich volcanic and sedimentary rocks throughout most of the core and specifically in multiple sections varying in down-hole lengths from 25 metres up to 210 metres. Multiple narrow sections consisting of feldspar-quartz porphyry intrusive were also identified in the core associated with the altered rocks.

Analysis of obtained 461 core samples returned multiple sections of anomalous gold, silver and zinc values of up to 0.9 metres of 1.03 g/t gold (Au) in Hole MC-11-02, and 1.8 metres of 1.2% zinc (Zn) and 2.4 metres of 7.3 g/t silver (Ag) in Hole MC-11-01. The deepest hole tested the target area to a maximum depth of approximately 140 metres. The results are encouraging because they indicate the presence of a large hydrothermal mineralizing system to be followed up with additional exploration starting with the completion of borehole geophysical surveys in the three holes.

The BTW core samples from the diamond drilling were split in half using a diamond saw, sealed in secure packages and submitted by the on-site Qualified Person (QP) to Eco Tech Laboratories in Stewart and Kamloops, British Columbia, where they were analyzed using method Au2-30 gold by fire assay and multi-element ICP-AES following aqua regia digestion. High analyses (greater than 10,000 ppm, 1%) for copper, zinc, lead and (greater than 30 ppm) silver underwent ore grade AA analysis. Polymetallic standards and blanks, unknown to the laboratories, were included with each submission of samples. A pulp duplicate per batch of ten samples will be submitted to a second laboratory for check analyses. Eco Tech is an international accredited ISO 9001 compliant laboratory which fulfills standard QA/QC protocols.

The MC Dalhousie exploration program is under the direction of Trevor Boyd, Ph.D., P.Geo, Vice President of Exploration for Reliant, and a Qualified Person (QP) as defined by National Instrument NI 43-101 ("NI 43-101"). Dr. Boyd supervised the preparation of the technical information contained in this press release in compliance with NI 43-101. Dr. Boyd is also the President, director and the controlling shareholder of Millennium Minerals Limited which has granted to Reliant an option to earn a 100% legal and beneficial interest in the North Nonacho Property located in the Northwest Territories, Canada.

ABOUT RELIANT

Reliant is a junior mineral exploration company with an experienced management team engaged in the acquisition, exploration and development of properties for the mining of precious and base metals and uranium. The Company holds: (i) an option to acquire a 100% interest in the MC Dalhousie Property located in northwestern British Columbia, Canada; (ii) an option to acquire a 100% interest in the North Nonacho Property in the vicinity of Nonacho Lake, Northwest Territories, Canada; (iii) an option to acquire a 100% interest in the Esten Property located 10 km south of Elliott Lake, Ontario, Canada, as well as 16 units staked by the Company contiguous to the Esten Property; and (iv) a 100% interest in the Borden Lake South Property, comprised of 288 claims, located 10 km east of town of Chapleau, Ontario. The common shares of Reliant trade on the TSX Venture Exchange under the stock symbol "REC". The Company has 20,502,777 common shares issued and outstanding.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Reliant or the industry in which it operates to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of Reliant with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading "Risk Factors", in continuous disclosure documents filed by Reliant from time to time with the Ontario, British Columbia and Alberta Securities Commissions which are available at www.sedar.com and to which readers of this press release are referred for additional information concerning Reliant, its prospects and the risks and uncertainties relating to Reliant and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of Reliant to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Reliant cannot assure investors that actual results will be consistent with these forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

The forward-looking information contained in this press release is current only as of the date hereof. Reliant does not undertake or assume any obligation, except as required by law, to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

No securities commission or regulatory authority has approved or disapproved the contents of this press release.

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

  • Reliant Gold Corp.
    Andrew Hara (Harasimowicz), B.Sc. (Hon.), P.Eng.
    President and Chief Executive Officer and Director
    (905) 822-4078
    (905) 822-8018 (FAX)
    info@reliantgold.com