TSX VENTURE: RRX
CALGARY, June 10 /CNW/ - Ruby Red Resources Inc. ("Ruby Red") announces
that it has received all the assays for hole Z07-1, drilled in 2007 on the
Zeus property located approximately 35 kilometres northwest of Cranbrook, B.C.
An additional sampling of the drill core was performed in order to better
understand the metal distribution within the mineralized interval and to cover
the complete zone of alteration. The new assays in conjunction with the 2007
assay identify economically significant copper, silver and cobalt
mineralization hosted in an intensely hydro-thermally altered breccia
structure that has a true thickness of 120 metres.
The mineralization within the breccia structure consists of a copper rich
central zone with cobalt rich zones occurring in the hanging and footwall.
The following table summarizes the weighted averages found in the hanging
wall, central zone and footwall zones within hole Z07-1.
Thickness Ag (gm/ Co (gm/ Bi (gm/
Drill interval(m) (m) Cu (%) tonne) tonne) tonne)
----------------- --------- ------ ------- ------- -------
81.0-129.0 48 0.188 0.135 114.0 trace
129.0-176-0 47 0.690 4.36 98.0 98.0
176.0-219.0 43 trace trace 141.0 trace
Gold is weakly to strongly anomalous throughout the cobalt rich zones
with intervals / values at 8 metres / 0.012 (gm/tonne) and 2 metres /
The copper weighted average of 0.436% over 95 metres compares with the
original discovery hole drilled in 1967 at the Valley Copper Deposit
(800 million tonnes 0.42% Cu) which intersected 58 metres of 0.28% Cu
(Castleman, et al 1995). The Valley Copper Deposit is one of several open pit
operations operated by Teck Cominco within the Highland Valley copper district
in British Columbia which is the largest copper producing area in Canada. This
district is one of the major copper producing and concentrating operations in
the world (hvc.infomine.com).
The style of mineralization coupled with the alteration associated with
the mineralization is consistent with the depositional environment exhibited
by the Highland Valley copper district. Work completed on the Zeus property
indicates the presence of a high elevation feature of a buried copper porphyry
system of considerable size and grade.
Ruby Red continues to be encouraged by the 2007 drill hole results on the
Zeus property. Therefore Ruby Red has embarked upon a diamond drilling program
which commenced on June 6, 2008 to test the copper - cobalt mineralized
breccia down dip and on strike from hole Z07-01.
The 2007 program was carried out under the supervision of Peter Klewchuk,
P. Geo., hereby identified at the "Qualified Person" under National Instrument
43-101. Mr. Klewchuk has reviewed and has verified the technical information
disclosed in this news release. Drilling services were performed by F.B.
Drilling of Cranbrook, B.C. and analysis was performed by ACME Laboratories
Ltd. of Vancouver, B.C.
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.
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 Ruby Red's ability to implement its business
plan. Ruby Red 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
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: