THUNDER BAY, ON and VALLENAR, CHILE, April 10, 2012 /CNW/ - Red Metal Resources Ltd. (OTCQB:RMES), a mineral exploration company with copper-gold assets in Chile, today announced that it has commenced a detailed geological mapping program on its Farellon Property.
The Farellon Property is 1,096 hectares (2,708 acres) in size consisting of four mining and exploration concessions in the Carrizal Alto mining district located approximately 75 kilometres northwest of the city of Vallenar, 150 kilometres south of Copiapo and 20 kilometres west of the Pan American Highway. In the next month Red Metal will complete a detailed mapping, prospecting and rock sampling program over the Farellon Property in order to extend the known mineralized zone to the north and the south and to identify where the best potential is to expand on the known mineralized zone.
Previous work on Farellon has outlined a 1.7 kilometer strike length of known mineralization hosted in a mineralized fault zone along strike from the historic Carrizal Alto mine.
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|
Michael Thompson, P. Geo., vice president of exploration for 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.
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