TSX VENTURE: RRX
CALGARY, June 24 /CNW/ - Ruby Red Resources Inc. ("Ruby Red" or the
"Company") is pleased to announce visual results on the first of three
scheduled drill holes on their 100% owned Zeus property located 35 kilometres
west of Cranbrook, British Columbia.
Diamond Drill Hole (DDH) 08-01 was drilled to extend the mineralized zone
encountered in DDH 07-01 (previously announced in the news release of June 10,
2008) which intersected 95 metres of 0.436% Cu, 2.24 gm/tonne Ag , 106 ppm Co
and 49 ppm Bi. DDH 08-1 intersected 270 metres of silicified quartz stockwork
breccia with significant visible sulphide mineralization in disseminated,
semi-massive and massive states. Sulphide minerals include primarily pyrite
and an unidentified dark sulphide with minor chalcopyrite and arsenopyrite.
The hole encountered the silicified quartz stockwork breccia from a measured
depth of 245 metres to 515 metres. The zone has intensive argillic alteration
and is highly silicified throughout the mineralized intersection.
Ruby Red believes that the recent drill hole results, with the presence
of visible copper sulphides being observed on site by the project geologist,
are very encouraging and could be of significant importance to the Company if
the assay results pending are favourable. Notwithstanding the foregoing,
visible observations are estimates only and pending assay results may not
confirm visual observations in whole or in part. The widths given above are
core widths only and do not represent true widths which cannot be determined
at this time.
The drill has been moved 150 meters to the east and will be drilled at a
-70 degree angle to intersect the zone at depth and along strike to determine
the continuity of the mineralization.
Ruby Red was formed to participate in the acquisition, exploration and
development of mineral claims in the Fort Steele Mining Division of British
Columbia for the purpose of exploring for precious and base metals. Ruby Red
holds 100% working interests in 144 mineral claims (approximately 44,000
hectares), all located within 80 kilometres of Cranbrook, B.C. in the Purcell
and Rocky Mountains.
This news release has been reviewed and approved by Gordon W. Turner,
P.Geo, President & CEO hereby designated as a "Qualified Person" under
National Instrument 43-101.
Except for statements of historical fact, this news release contains
certain "forward-looking information" within the meaning of applicable
securities law. Forward-looking information is frequently characterized by
words such as "plan", "expect", "project", "intend", "believe", "anticipate",
"estimate" and other similar words, or statements that certain events or
conditions "may" or "will" occur. Forward-looking statements are based on the
opinions and estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
anticipated in the forward-looking statements, which include but are not
limited to risks inherent in the mining industry, regulatory and economic
risks, and risks associated with the company's ability to implement its
business plan. The company undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions should
change except as required by law. The reader is cautioned not to place undue
reliance on forward-looking statements.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED, AND DOES NOT ACCEPT
RESPONSIBILITY FOR, THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
For further information: Randall Tronsgard, Vice-President, Corporate
Development of Ruby Red, at (403) 770-1346, 1-866-257-4337, or e-mail: