TSX VENTURE: RRX
CALGARY, Aug. 26 /CNW/ - Ruby Red Resources Inc. ("Ruby Red" or the
"Company") is pleased to announce the results of the Company's second quarter
exploration activities and planned exploration activities in the third quarter
on its properties near Cranbrook in southeastern British Columbia.
Diamond Drill Hole (DDH) 08-01 was drilled to extend the mineralized zone
encountered in DDH 07-01 (previously announced in the Company's 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 08-01 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. DDH 08-01 encountered eight metres of 0.307% Cu and 91 metres of
188 ppm Co within this 270 metre interval.
The second hole, DDH 08-02 was drilled 170 meters to the east to extend
the mineralized zone and encountered 17 metres of 0.172% Cu mineralization
within the quartz stockwork breccia zone. The hole also encountered
1.6 gm/tonne Au over one metre within a quartz vein representing an extension
of a zone encountered in a previous drill hole which intersected one metre of
9.74 gm/tonne Au. The new drill hole data, when incorporated with historical
data, strongly suggests the presence of a mineralized porphyry system within
Robocop (Roo) Property
The Company has completed phase one of its 2008 exploration program
designed to test sediment hosted Cu - Co - Ag mineralization located on its
100% owned Robocop property. The program consisted of soil geochemistry,
geological mapping, access road construction and drill pad building.
Soil geochemical surveys have traced the Cu - Co - Ag horizon for at
least 3.5 kilometres along strike and geological mapping has defined the trace
of the Cu-Co-Ag bearing arkosic sandstone/grit and conglomerate unit for
1.2 kilometres. Construction of one kilometre of new drill road access and six
drill sites has been completed.
Phase two of the program has commenced. This phase is designed to drill
test the mineralized sediments for thickness and grade. The program will
consist of six diamond drill holes totaling approximately 900 metres of drill
core. The program is expected to be completed by September 1, 2008.
Gar /Leader Property
Diamond drilling at the Gar/Leader property is anticipated to begin
September 1, 2008 immediately following the completion of the drilling program
at the Robocop property. This drilling will expand the 2007 drilling program
which encountered an intersection of 1.27 metres of 3.04 gm/tonne Au,
394.00 gm/tonne Ag, 2.4% Pb and 0.32% Cu. The target zone will be tested along
strike and down dip. Additional geologic mapping and soil/rock geochemistry is
The Eddy property is scheduled for trench evaluation of near surface Au
mineralization. Rock geochemical samples have yielded values up to
19.2 gm/tonne Au. Pending permit approval later this month, the trenching
program and approximately 900 metres of diamond drilling is anticipated on
targets generated from this program. Drill evaluation of this property is
scheduled for late September, 2008.
Spirit Dream Property
A single diamond drill hole is expected to be completed on the property to
test the depth extension of a surface visible Au showing. Completion of this
hole is anticipated for late September, 2008.
All of the Company's additional properties are continually being
evaluated by geologic, prospecting and geochemical means. Road access to the
Gar and Lov properties located within the Company's Purcell block is slated to
be completed by September 30, 2008.
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 of Ruby Red and hereby designated as a "Qualified
Person" under National Instrument 43-101. Drilling services were performed by
F. B. Drilling of Cranbrook, B.C. and analysis was performed by ACME
Laboratories Ltd. of Vancouver, B.C.
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: