TORONTO, April 10 /CNW/ - Richmond Minerals Inc. (Richmond) board of
director's is pleased to provide the following exploration update regarding
the Grenville joint venture project in Quebec with Fort Chimo Minerals (CNQ:
Richmond will begin radiometric and magnetic airborne surveys targeting
uranium mineralization on four of its joint venture properties in the
Mont-Laurier area of Quebec. Richmond is currently selecting an airborne
surveying contractor, and anticipates the surveys to begin in June of this
year. The properties to be flown lie within the Cabonga-Mont-Laurier
radioactive district of the Grenville Geological Province. Johns-Manville
discovered uranium in the Mont-Laurier area in 1967 and the deposits in this
district are classified as pegmatite-type uranium occurences. Richmond's joint
venture properties lie immediately to the west and north of Strateco
Resources' Mont-Laurier uranium project.
The Long Point First Nation has requested an environmental agreement with
Richmond Minerals prior to a diamond drill program on it's nickel discovery
property located in Halle Township, Quebec (20 km east of Belleterre). Given
the close proximity of the Long Point First Nation to the Halle property,
Richmond management believes that having an agreement in place prior to the
diamond drilling program would be in the best interests of both Richmond
shareholders and the residents of the Long Point First Nation.
As described in Richmond's previous news releases, two strongly magnetic
and highly conductive Fugro GEOTEM airborne anomalies were identified on the
Halle property. Anomaly 1, located along the central eastern property boundary
is approximately 1.3 kilometers in length. Anomaly 2, located in the north
central portion of the property, is approximately 4.5 kilometers in length.
Grab samples collected from surface along the axis of anomaly 2 returned
values as high as 0.14% nickel, 0.07% copper, 282 ppm cobalt, and 0.22%
chromium. Given the elevated base metal values near the anomaly source,
Richmond management believes that the anomaly could be a new Volcanogenic
Massive Sulphide (VMS) occurrence. A review of historical assessment files
indicates no definitive historical exploration work in the target area.
The Halle and Mont Laurier properties are part of the Grenville project
joint venture agreement with Fort Chimo Minerals. The Grenville project covers
more than 220,000 acres of mineral rights in the central and southwest area of
Quebec. Richmond Minerals, as operator, must spend $2 million by May of 2008
to earn a 50% interest.
Warren Hawkins, P.Eng, in his capacity as Qualified Person under National
Instrument 43-101 has reviewed the contents of this release.
We seek safe harbor.
On Behalf of the Board of Directors
Paul Ankcorn, President
Neither the TSX Venture Exchange Inc. nor any other regulatory body
accept responsibility for the adequacy or accuracy of this news release.
For further information:
For further information: RICHMOND MINERALS INC., 133 Richmond Street
West, Suite 403, Toronto, Ontario, Canada M5H 2L3, Tel: (416) 603-2114, Fax: