THUNDER BAY, ON and VALLENAR, Chile, Aug. 30, 2012 /CNW/ - Red Metal Resources Ltd. (OTCQB: RMES), a mineral exploration company with copper-gold assets in Chile, is pleased to announce that it has acquired additional mining claims adjacent to its Farellon project ("Farellon") located in Northern Chile's prolific Candelaria iron oxide copper-gold belt.
An additional four mining claims covering 454 hectares (1122 acres) were acquired after assessing mapping work completed in recent months over the Farellon property investigated the strike extent of the vein system previously drilled on the property. The new claims cover a further one kilometer of strike length to the north of the vein system previously explored on the Farellon property. Results from the recent mapping program that included reconnaissance work on the newly acquired claims will be released soon.
Caitlin Jeffs, P.Geo., President & CEO of Red Metal stated, "With the recent acquisition of ground we are continuing to add fantastic potential to our Farellon Property."
Red Metal last explored Farellon in the summer of 2011 completing a 2,233 meter, 11 drill hole program; highlights of the drill program included:
|HOLE ID||From (m)||To (m)||Length (m)||Copper %||Gold g/t|
Caitlin Jeffs, P. Geo., President & CEO of Red Metal, the project's Qualified Person as defined in NI 43-101, has reviewed and approved the contents of this news release.
About Red Metal Resources Ltd.
Red Metal Resources is a mineral exploration company focused on aggressive growth through acquiring, exploring and developing copper-gold assets in Chile. Our projects are located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera, host to Freeport-McMoRan's Candelaria Mine and Anglo American's Mantoverde Mine. Red Metal is a fully reporting US public company quoted on the OTCQB under the symbol RMES. For more information, visit www.redmetalresources.com.
Except for the statements of historical fact, the information contained herein is of a forward-looking nature. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievement of the company to be materially different from any future results, performance or achievements expressed or implied by statements containing forward-looking information. Accordingly, you should not place undue reliance on statements containing forward looking information. The U.S. Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in our press releases, such as "measured," "indicated," and "inferred" resources, which the SEC guidelines generally prohibit companies from including in their filings with the SEC. Investors are urged to consider closely the disclosure in our Form 10-K, which may be obtained from us, or from the SEC website.
SOURCE: Red Metal Resources Ltd.
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