|By Marketwired .||
|April 4, 2014 10:26 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/04/14 -- Redhawk Resources, Inc. ("Redhawk" or the "Company") (TSX:RDK)(FRANKFURT:QF7) is pleased to announce the results of two exploration core drill holes drilled in late 2013 and early 2014 in the Dark Canyon/Prospect Canyon target area. Dark Canyon and Prospect Canyon are located approximately 4,000 feet (1220 meters) northeast of the existing porphyry resource margin and represent an untested area for finding new resources at Copper Creek. (See attached map for drill hole locations). Significant mineralization from the drilling is listed in the table below.
REX-13-078 drilled vertically to total depth 5008 feet (1526.5 m) thick- end ness Ag Start ft (m) ft (m) ft (m) Cu% Mo% ppm 2300 (701) 2305 (702.5) 5 (1.5) 0.25 Tr 2.46 2801 (853.8) 2907 (886.1) 106 (32.3) 0.16 0.001 0.71 Including 2856 (870.5 2861 (872) 5 (1.5) 0.28 0.001 0.91 2882 (878.4) 2887 (879.9) 5 (1.5) 0.71 0.006 2.36 Also 3047 (928.7) 3060 (932.7) 13 (4) 0.60 0.002 3.44 3206 (978.1) 3216 (980.2) 10 (3) 0.33 0.001 0.61 3824 (1165.6) 3831 (1167.7) 7 (2.1) 0.79 0.036 2.07 4063 (1238.4) 4067 (1239.6) 4 (0.8) 1.13 0.007 1.43 4421 (1347.5) 4445 (1354.9) 24 (7.3) 0.35 0.009 0.42 4541 (1384.1) 4447 (1355.5) 6 (1.8) 0.73 0.018 2.35 4941 (1506) 4947 (1507.9) 6 (1.8) 0.32 0.003 0.68 REX-14-079 drilled -80 degrees north 35 degrees west to total depth 4017 feet (1224.4m) 2010 (612.7) 2170 (661.7) 160 (49) 0.12 0.003 0.24 2400 (731.5) 2430 (740.7) 30 (9.1) 0.14 0.003 0.36 2529 (770.8) 2531 (771.5) 2 (0.6) 0.43 tr 3.31 True thicknesses have not been determined. (ft = feet, m = meters, % = percentage, ppm = parts per million, Cu = copper, Mo = molybdenum, Ag = silver, tr = trace, nil = below detection)
Both drill holes showed strong porphyry style alteration of pyritization, sericite, secondary biotite, secondary potassic feldspar, hydrothermal breccias, intrusion breccias, and porphyry intrusives associated with the mineralizing events as in the main porphyry resource area. Hole REX-14-079 has several zones of "early halo" (EH) style veining which is characteristic of the main porphyry resource area.
Redhawk President R. Joe Sandberg commented: "We are very encouraged with the results from this two hole drill program in a new target area covering more than a square kilometer. Using the tools we have developed including our new geologic model, the first hole drilled encountered thick intervals of porphyry style mineralization and a number of high grade intersects. Hole Rex -13-078 has the appearance of a "near miss" and provides strong geologic evidence to support the potential of another porphyry mineralization center in the Dark Canyon Prospect Canyon area. The purpose of this small drill program was to test our ability to target resource expansion at Copper Creek and to support our opinion that the relatively unexplored northwest portion of the original property deserved additional exploration efforts. Both of these goals were successfully achieved. The data from the program will be analyzed and used to develop targets for a larger drill program in the same area."
R. Joe Sandberg, CPG, Redhawk President, CEO and a Qualified Person under the meaning of NI 43-101, is responsible for the technical content of this news release.
All core samples are picked up on site by Redhawk geologists or delivered by the drillers to Redhawk personnel. All samples were split by Redhawk personnel. Samples were then picked up at the Redhawk facility by Inspectorate Labs personnel and pulps prepared by Inspectorate Labs. Inspectorate Labs then delivered the pulps to ALS Laboratory Group ISO 9001:2000 & ISO 17025 in Elko, NV or Reno, NV for assay. Every tenth pulp was a standard and submitted with each assay job, and results reviewed for accuracy. Check assaying is being performed by Inspectorate Labs and a duplicate pulp prepared from the sample reject on every fifteenth sample interval and assayed by Inspectorate Labs.
Redhawk is a Canadian-based resource exploration and development company with primary focus on the accelerated development of its advanced stage Copper Creek copper-molybdenum project in San Manuel, Arizona. The 100% owned Copper Creek property consists of approximately thirty square miles of contiguous patented and unpatented mining claims and state prospecting permits, located about 70 miles northeast of Tucson, Arizona and about 15 miles east of San Manuel. The property is in the prolific southwest US porphyry copper belt at the projected intersection of a major northwest belt of porphyry copper deposits or mines (Ray, Miami/Globe, Superior/Resolution, Johnson Camp) and a major east-northeast belt of porphyry deposits (San Manuel/Kalamazoo, Silver Bell, Lakeshore, Safford, Morenci). The property is within sight of the former BHP Kalamazoo/San Manuel copper smelter and mine and within 30 miles of an existing operating copper mill and smelter. The area is a mining friendly and politically secure location with excellent and readily accessible infrastructure including power, rail, water, roads and qualified consultants.
ON BEHALF OF THE BOARD
R. Joe Sandberg, President & CEO
Cautionary Note Regarding Forward Looking Information
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These forward looking statements relate to future events or the Company's future performance, business prospects or opportunities. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect, "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "outlook" and similar expressions) are not statements of historical fact and may be forward looking information. Forward-looking information includes, but is not limited to, statements with respect to potential new deposits and resources within the Prospect and Dark Canyon targets and any related increase in the size and scope of the Copper Creek project. The Company believes that the expectations reflected in such forward looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. These statements speak only as of the date of this press release. The Company does not intend, and does not assume any obligation, to update any forward-looking information except as required by law. Forward looking information involves risks and uncertainties which may cause actual results to be materially different from those expressed or implied by such forward looking information. Such risk and uncertainties relate to, among other things, the results of exploration and development activities, including the planned drill program, the availability of materials and equipment, changes in commodity prices and, particularly, copper prices, as well as those factors discussed in the section entitled "Description of the Business - Risk Factors" in the Company's Annual Information Form for the year ended March 31, 2013, available on www.sedar.com.
To view the map accompanying this press release please click on the following link: http://media3.marketwire.com/docs/RDK0404.pdf
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