KIRKLAND LAKE, ON, June 13, 2012 /CNW/ - RJK Explorations Ltd. (RJX.A: TSX-V) ("RJK") is providing results from its phase one diamond drill program on its 9,200 hectare Blackwater East and Northeast Properties, located in the Blackwater Gold Camp, approximately 100 kilometres southwest of Vanderhoof, B.C. The RJK properties are contiguous to the east of New Gold's Blackwater 43-101 compliant multi-million ounce bulk tonnage gold occurrence.
Following considerable delays in the drilling program, a total of 2,370 metres were completed, testing 5 widely spaced target areas previously identified primarily by airborne and ground geophysical surveys. Poor drilling conditions within the property resulted in 3 holes being lost in overburden and 3 holes not reaching their intended depth. Two other target areas were tested and explained the geophysical responses. No significant gold or silver values were recorded in the sampling of these holes.
Drill hole BWE12-06 was drilled in the company's most promising and largest geophysical target adjacent to an interpreted intrusion and intersected a mineralized section. A sample of pyritic rock fragments taken between 79.00 and 82.30 metres depth, where core recovery was extremely poor, assayed 2,710 parts per million silver (79.04 oz/t Ag over 3.30 metres). It is cautioned that true width of this intersection is not known at this time, as core recovery over this interval was less than ten per cent.
A 10-centimetre sample containing thin pyrite veins was taken 6.62 metres deeper in the hole, between 88.92 and 89.02 metres, and assayed 38.9 parts per million silver (1.13 oz/t Ag over 0.1 metre). Both samples were analyzed at ALS Minerals laboratory in North Vancouver, BC using aqua regia digestion and inductively coupled plasma with atomic emission spectroscopy. The 2,710 parts per million silver value was obtained by re-analyzing the sample by fire assay followed with gravimetric finish. Five shallow follow-up drill holes in the vicinity of hole BWE12-06 did not capture additional elevated silver values, however distinct zones of very poor core recovery were intersected.
With this phase completed, RJK will now be reviewing all results of this drill program with respect to geology and structural interpretation with particular attention to the high silver intersection area. Follow-up drilling utilizing a Reverse Circulation-type drill is envisioned, which will significantly increase recovery of rock from the suspected faults, brecciated and alteration zones that were encountered in the core drilling.
"RJK has taken this property from a blind, completely overburden-covered exploration target with unmapped and unknown geology to what now may be an important discovery for the Company and the emerging Blackwater Camp in general. With our current database, we can now implement a more technical and advanced follow-up exploration program here," said Glenn Kasner President.
As already noted in a June 5th news release, RJK has also renewed exploration on the 8,265 hectare Blackwater West and Dave 2 claims for this year with 4 initial drill targets already identified. The Company is greatly encouraged by the exploration results so far on both of the Blackwater claim groups.
Quality assurance and quality control was ensured in retrieving, securing, sampling and shipping of drill core. The core is sawed in half for sampling with alternating standards and blanks inserted every tenth and laboratory duplicates inserted every fortieth into the stream of core samples.
Ian Webster, PGeo, is the qualified person, as defined by NI 43-101, for the Blackwater East and Northeast property and has reviewed and approved the technical information contained in this release.
Forward Looking Statements: includes statements contained in this news release regarding discussions in respect of a potential acquisition and funding arrangement and RJK's expectations regarding same and the trading of its shares on the TSX Venture Exchange. This forward-looking information reflects the current expectations or beliefs of RJK based on information currently available to it. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of RJK to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, RJK. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: the failure of RJK to enter into an agreement in respect of such arrangement; delays in obtaining or failure to obtain any required regulatory and/or shareholder approval; and other factors. Any forward-looking information speaks only as of the date on which it is made. Although RJK believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Glenn Kasner, President
Telephone: (705) 567-5351
Mobile: (705) 568-7567
James (604) 565-5967