While the property is most definitely in an area that is prospective for a copper-gold deposits, referring to it as a “world class” porphyry copper target is somewhat bold.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 19, 2014) – Redhill Resources Corp., (TSX VENTURE:RHR), (“Redhill” or the “Company“) is pleased to announce that a minimum 2000 metre (m) drill program commenced on its 100% owned SAT property (the “Property”) in north-central British Columbia. The program consists of 4 to 6 HQ to NQ size drill holes designed to test a high priority Induced Polarization (“IP”) anomaly identified from the 2014 geophysics program.
The Babine region in British Columbia was host to two operating mines in the early sixties and seventies; the Bell Copper mine was operated by Noranda and Gransile mine by Granby Mining and Smelting. Both of these properties are now owned by Xstrata/Glencore and both mines have been closed since the early nineties. Exploration in this region has been classified as “brownfields”, but SAT property itself has had little work done. While “greenfields” exploration is used to reference maiden properties that have not been previously explored, “brownfields” are properties that have been extensively worked.
Positive results obtained from the 18 kilometre (km) IP survey resulted in defining a high priority high chargeability IP anomaly approximately 900 by 1300 metres. Geophysical inversion modelling indicates the target zone is unconstrained, open and strengthening at depth.
The SAT Property covers 4,620 hectares in 10 contiguous road accessible mineral claims approximately 50 km northeast of Smithers, southwest of Babine Lake and west of the town of Granisle. It is located within the prospective Stikine Terrane which hosts known copper porphyry deposits including the historical Granisle and Bell mines as well as the Big Onion and Morrison deposits. The SAT Property is considered by the Company to be a world class copper-gold-molybdenum porphyry target.
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