TORONTO, Dec. 13 /CNW/ - Richmond Minerals Inc. (Richmond) is pleased to
provide the following corporate project update regarding the Triple Lake
property near Timmins, Ontario, the Grenville joint venture with Fort Chimo
Minerals (CNQ: FORT) in Quebec, and the Lac Mistamisk project near
Line-cutting and geophysical surveying have been completed over the CF-1
and CF-2 claim blocks of the Triple Lake group of properties. Preliminary
examination of the data confirms the presence of several geophysical
anomalies. While performing the ground surveys, crews encountered
mineralization in numerous outcrops and in angular floats. The mineralization
observed includes chalcopyrite, malachite, bornite, magnetite and pyrite.
Numerous grab samples have been collected and sent for assay. Results are
pending. The geophysical data is presently being reviewed for priority drill
Geophysical, geological and geochemical studies were undertaken by the
Institut National de la Recherche Scientifique - Eau, Terre et Environment
(INRS - ETE) researchers over the Richmond/Fort Chimo Bondy gneiss complex
joint venture property south east of Mont Laurier, Quebec during the recent
fall season. Preliminary results are extremely promising. Application of
specialized processing techniques to regional gravity data has identified an
association with regional crustal structures and mineral showings on the Bondy
gneiss complex. In particular, the Bing copper showing, in which grab samples
assayed as high as 10.05% copper and greater than 1 once per ton silver,
occurs at the intersection of two such structures. Analysis of the gravity
data also suggests the presence of mafic intrusions beneath aero magnetic and
electromagnetic highs on the Bondy property approximately 2 kilometers
northwest of the Bing copper showing. Similar mafic bodies are interpreted
beneath Iron Oxide Copper Gold (IOCG) style ore deposits worldwide (e.g.
northern Sweden). Sulphides composed of chalcopyrite, pyrite and magnetite
were discovered at a well-defined electromagnetic anomaly within the
aeromagnetic and gravity high. A series of northeast striking mineralized
breccia zones were documented on the northeast margin of the coincident
gravity and aero magnetic anomaly. The mineralization identified in grab
samples includes chalcopyrite, pyrite and magnetite. Anomalous uranium values
were also detected in this area. Follow-up work will include stripping and
trenching work, and detailed ground geophysics, followed by diamond drill
target selection and drilling.
Negotiations with Long Point First Nation regarding an exploration
agreement at the Halle township volcanogenic massive sulphide base metal
target near Belleterre, Quebec have been progressing well. It is anticipated
that an agreement will be reached shortly. Exploration work, including
detailed ground geophysics and diamond drilling will commence immediately
after an agreement has been finalized.
Laboratory results have been received for the Lac Mistamisk drilling
program. No significant results were obtained and no further work at Lac
Mistamisk is planned at this time.
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: