QUESNEL, BC, Feb. 7 /CNW/ - Phase I drilling at the Mouse Mountain
property was completed January 27th, 2008, with a total of 5544 metres in 15
holes. Results for the first hole was released previously (see News Release
dated December 21, 2007) and the company continues to log and sample the core
for the remaining drill holes. Assay results will be released as they are
received, compiled, and interpreted, in preparation for the Phase 2 drilling
program, which is expected to start in April.
In the Phase 1 program, Induced Polarization (IP) chargeability and
resistivity targets were drill-tested with two holes, coincident airborne
radiometric potassium, thorium and total field magnetic anomalies were
targeted with two holes, and two other holes were drilled westward under the
Valentine mineralized zone. The remaining nine holes targeted the Rainbow
mineralized zone, and it is there that the best visual results have been
observed in the drilling (visual drill results are now available for viewing
at www.richfieldventures.ca). Although most holes remain to be logged and
sampled in detail, chalcopyrite was noted in a number of the holes, and the
drilling shows that the zone of strongly altered and locally
copper-mineralized rocks extends to at least 150 metres depth, where it
appears to encompass an area of at least 17 ha. This area is more than 3 times
as large as the area of altered and mineralized rocks outlined to date in the
Rainbow zone at surface.
Dr. Andre Panteleyev of Richfield's Advisory Committee, who is an
international authority on alkalic porphyry copper gold deposits, recently
visited the Mouse Mountain property and examined the core from several holes.
He is positive about the rocks he saw and considers that the ground is "well
prepared, and has good evidence for an alkalic porphyry copper-gold
occurrence, including the mineralization."
The rest of the advisory committee, which also includes Dr. Gerry
Carlson, Dr. Lindsay Bottomer, and Dr. David Terry, met with RVC management
last week to review the drill program thus far. They feel that the rocks
encountered in the drilling to date may lie close to, but along trend from
(and/or above), mineralization with somewhat better tenor.
In other news, Geoscience BC has now released the raw data from the
initial geophysical components of the 5 million dollar QUEST Project. along
with new hyperspectral imagery. The Quest program covered the entire 250,000
acre land package of Richfield Ventures, and it appears to have yielded
encouraging results. The initial data includes Versatile Time-Domain
Electromagnetic (VTEM) data, along with maps and a contractor's report.
Richfield Ventures has engaged the services of Dr. Rob Shives, a widely
respected geophysicist with over 25 years experience collecting and
interpreting geophysical data, to review and interpret the raw Quest Project
data for the part of the survey flown over the company's ground.
Exploration plans for 2008 in Richfield's Quesnel Trough project, include
Phase 2 drilling at Mouse Mountain, and preliminary drilling at the G-South,
Chubby Bear and Moustique properties. G-south is an advanced VMS target,
Chubby Bear is more grass-roots target with a 400 by 700 metre multielement
soil geochemical anomaly, and Moustique is a molybdenum target with a 500 by
700 metre molybdenum-in-soil geochemical anomaly. The company also has plans
for a reconnaissance mapping and sampling program on the newly-acquired
Trapper Lake gold property in northwest BC, in the vicinity of the
past-producing Golden Bear gold mine.
The scientific and technical information contained in this news release
was prepared under the supervision of Charles Greig, M.Sc. P.Geo., the
company's "qualified person" under National Instrument 43-101 Standards of
Disclosure for Mineral Projects.
Certain statements in this press release may be considered
forward-looking information, including those relating to "plans" of the
company. Such information involves known and unknown risks, uncertainties and
other factors -- including the availability of funds, the results of financing
and exploration activities, the interpretation of drilling results and other
geological data, project cost overruns or unanticipated costs and expenses and
other risks -- that may cause actual events to differ materially from current
expectations. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release. The company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise.
On behalf of the Board of Directors of Richfield Ventures Corp.
Peter Bernier, President
THE TSX VENTURE EXCHANGE HAS NOT REVEIWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking statements in this release are made pursuant to the safe
harbor provisions of the Private Securities.
For further information:
For further information: Peter Bernier, President, Richfield Ventures
Corp., 331 Reid Street, Quesnel, BC, V2J 2M5, Toll Free 1-877-992-6644, Phone:
(250) 992-6644, Fax: (250) 992-6643, www.richfieldventures.ca,
firstname.lastname@example.org; Ryan Glasser, Investor Relations, Richfield
Ventures Corp., 1201, 1166 Alberni Street, Vancouver, BC, V6E 3Z3, Phone:
(604) 801-6625, Mobile: (778) 899-6625, Fax: (604) 687-4770,