Red Crescent Resources Limited
TSX : RCB

Red Crescent Resources Limited

February 01, 2011 11:41 ET

Report on Interim and Partial Results of Sample Chemical Assays From the Exploration Works Consisting of Recovered Diamond Drill Core and Trench Sampling on a Portion of the Hakkari Zinc Project

TORONTO, ONTARIO--(Marketwire - Feb. 1, 2011) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Red Crescent Resources Limited (TSX:RCB) ("RCR" or the "Company") a base metals focused mineral exploration and development company, is pleased to announce that it has received from ALS Chemex the first chemical assays of its Hakkari type "oxide" mineralisation samples. The Hakkari Zinc Project ("HZP") in SE Turkey is a high grade carbonate MVT style Zinc/Lead project which hosts exceptional potential for the development of very significant compliant mineral, base and precious metal resources.

RCR's independent geological team from The MSA Group under the QA/QC supervision of CP Mike Robertson prepared samples under a secure full "chain of custody" regime of recovered Diamond Drill cores from a total of 25 holes on two licence areas, Licence No.5 ("L5") (Western boundary thereof) and the Pentagon ("PTG") (Northern boundary thereof), and also samples from 9 major dug trenches (210m in total) and one two hundred and Sixty metre (260m) long road cut also made on L5. (See attached maps for positioning of L5 and the PTG).

All samples have been submitted by RCR to ALS Chemex Vancouver for chemical assay and the first batch of results consisting of assayed samples from 9 DD holes from Licence No.5, 6 DD holes from the Pentagon, and 4 trenches from Licence No.5, were received in return from ALS and these are reported herein.

The results reported are depicted in the Table 1 shown below. Significant points to be noted there from are as follows;

  • Confirmation of significantly larger mineralized widths that expected and on average 6.6m on L5 and 3.6m on PTG offering an improved per hectare resource tonnage potential approximately 3.5 times that expected prior to drilling;

  • Significant grade migration measured in the core by field XRF has been confirmed in the laboratory and further samples are being prepared to test this extent and its potential impact on the project economics. These assay results will be reported as soon as completed;

Licence Borehole From
(m)
To
(m)
True
Width
(dip
corrected)
(m)
Zn
(%)
Pb
(%)
Ag
(ppm)
Total
width
stratiform
mineralisation
intersected
(m)
5 5DD002 6.54 10.51 2.37 4.6 4.4 3 7.67
25.10 31.35 4.42 3.1 2.6 3
5DD003 13.91 24.24 7.30 3.6 1.2 1 12.09
31.59 34.00 1.70 4.9 4.0 4
48.05 49.60 1.10 6.3 1.7 1
5DD004 68.76 77.30 6.11 1.4 0.1 1 7.12
5DD005 54.00 55.60 1.13 2.3 0.2 1 9.83
60.20 72.50 8.70 1.7 0.4 1
5DD006 52.22 54.10 1.54 3.1 1.6 4 5.18
60.90 65.65 3.64 1.6 0.2 2
5DD007 150.48 153.10 2.01 2.0 0.1 1 2.01
5DD008 51.18 53.25 1.79 3.8 0.2 1 5.12
5DD012 184.50 191.25 4.47 2.1 0.8 1 5.62
Licence 5 average 3.56 2.6 1.1 2 6.83
Pentagon PENDD002 12.70 26.50 3.57 3.9 0.5 4 3.57
PENDD003 8.70 27.70 10.90 3.8 1.0 79 10.90
PENDD004 1.17 3.90 1.37 9.8 0.6 19 2.41
9.80 11.90 1.05 17.3 0.5 6
PENDD005 0.00 2.50 1.06 7.9 3.0 82 2.32
8.50 11.50 1.27 5.8 0.9 40
PENDD006 11.40 14.10 1.55 38.8 1.8 15 1.55
PENDD009 8.90 10.90 1.00 22.5 3.8 32 1.00
PENDD010 122.50 127.30 1.24 17.7 2.6 18 3.62
Pentagon average 2.56 9.0 1.2 58 3.62
Licence Trench From
(m)
To
(m)
True
Width
(dip
corrected)
(m)
Zn
(%)
Pb
(%)
Ag
(ppm)
Total
width
stratiform
mineralisation
intersected
(m)
5 5TR001 10.20 12.83 2.13 2.6 0.2 1 2.13
5TR002 6.20 7.70 0.92 1.6 0.1 3 0.92
5TR003 6.60 8.40 0.73 2.2 0.3 4 0.73
5TR004 4.66 9.00 1.72 0.6 0.0 1 1.72
  • The presence of economic precious metal grades, i.e. Silver (Ag), has now been confirmed in particular on PTG and where higher grade Zinc/Lead mineralisation is prevalent. This has never been reported upon previously and adds significantly again to the massive economic potential of the HZP;

  • Grade profiles realised in the tested areas are reported approximately in line as was expected and have most importantly begun to illustrate more clearly the previously un-explored mineralisation style, hosting and types of geological control that can be expected. This information is allowing for improved planning for the 8000 drilled metres program planned for 2011 across these (L5 & PTG) and other HZP properties that are contiguous and adjacent where it is known from historical mining that the grades increase significantly.

The percentage area drilled on L5 (3000 Ha) is now only 33.75 Ha or 1%. While on the PTG (385 Ha) area drilled is 6.4 Ha or 1.7%. The total area drilled and trenched to date of some 50 Ha represents less than 1% within a total contiguous and adjacent holdings under licence of more than 52 000 Ha with a strike length of almost 80 kilometres.

Alan Clegg, a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information contained in this news release.

The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

Contact Information

  • Red Crescent Resources
    R. A. Bondy
    416-637-2080
    416-637-2081 (FAX)
    or
    Red Crescent Resources
    Alan Clegg
    +90 530 662 8964 or +27 82 469 8378
    +90 312 448 2926 (FAX)