| October 16, 2009 Richfield drilling confirms bulk gold model, expands area of mineralized rocks and demonstrates gold continuity between current drilling and historic drilling | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| October 16,2009 - Quesnel, BC, Canada: Richfield Ventures Corp. (TSX-:RVC) "Richfield" or "the Company" is pleased to announce assay results for five further diamond drill holes (BW 49, 50, 51, 52 and 53) of the current drill program on the Blackwater project in the Nechako Plateau of Central B.C. All holes were collared on ground optioned by Richfield from Silver Quest Resources Limited (NR March 23, 2009). The five holes continue to support a bulk gold deposit model hosted in highly brecciated silicified rhyolite and dacite likely derived from a rhyolite intrusion or dome.
Precious metal mineralization broadly accompanies the introduction of sulphide minerals, principally pyrite, sphalerite and galena during brecciation and silicification. The five holes also expand the area known to be underlain by mineralized rocks and show that gold mineralization continues west and north between the historic holes and the current drilling. The five holes further demonstrate that mineralization continues. One of the five holes, BW 49 was drilled southwest at 50 degrees and is between BW 48 and historic holes DAV 05-02, 06-06 & 06-07. Results for BW 48 were reported previously (NR's Sept 16, 21, 29/09). DAV-05-02, the best historic hole, assayed 1.43 g/t gold and 3.4 g/t silver over a drill width of 140.5 metres. This includes 14.0 metres grading 4.93 g/t gold and 17.1 g/t silver. Of two nearby historic holes one DAV 06-06, returned 8.0 metres with 10.7 g/t gold and 42.8 g/t silver, including 2.0 metres grading 35.5 g/t gold and 153.0 g/t silver; the other DAV 06-07 assayed 1.25 g/t gold and 46.1 g/t silver over 12.3 metres. BW 49 assay results show precious metal mineralization throughout the hole; it averaged 0.27 g/t Au with 4.1 g/t Ag over the entire 142 metres sampled. The strongest gold, 0.50 g/t Au and 6.9 g/t Ag, is in a 25 metre interval about the middle of the hole. The bottom 40 metres had four one metre intervals with gold above 1 g/t Au. BW 50, a vertical 113 metres deep hole, was drilled about 150 metres north of a point midway between the collars of BW 48 and BW 49 to test northward continuity of the mineralized system. Most of the rocks intersected in the hole continue to show the strong silicification and brecciation, especially in the upper part of the hole, and assay results show that mineralization continues. The bottom 30 metres of the drill hole averaged 0.17 g/t Au and 2.7 g/t Ag best gold mineralization is in an 11 metre interval near the bottom of the hole, which averaged 0.20 g/t Au and 0.8 g/t Ag. BW 51, a vertical hole, was drilled 100 metres north of BW 49. The drill hole intersected well prepared brecciated and silicified rocks with precious metal values throughout but especially strong deeper in the hole. The last 6.14 metres of the hole averaged 0.85 g/t Au with 8.0 g/t Ag within a longer interval of 47.14 metres which carried 0.31 g/t Au and 4.2 g/t Ag. BW 52 & 53 were drilled northeast and southwest respectively from the same setup, about 110 metres west of BW 49. BW 52 was drilled to 146.9 metres and inclined at -50 degrees. The host rocks differ from those seen in earlier holes and consist of rhyolite-dacite lapilli tuff and breccia. The best gold values in the bottom of the hole, average 0.2 g/t Au and 2.3 g/t Ag over a drill width of 57.9 metres (all widths reported are drill widths, not true widths and assays are drill width weighted averages). BW 53 drilled southwest to 165.2 metres inclined at 50 degrees. It intersected the same lapilli tuff and breccia. Four silicified and brecciated intervals in the lapilli tuff about 40, 60, 100 and 150 metre depth carry relatively high gold values separated by weaker gold tenor in the tuff. The best interval and also the deepest is 6 m long, between 145 and 151 metres; it averages 2.96 g/t Au and 2.30 g/t Ag. Within it is a metre section grading 14.71 g/t Au. A second 5 metre interval higher up the hole grades 0.91 g/t Au and 0.4 g/t Ag between 59 and 64 metres. And a third section of 8 metres between 98 and 106 metres depth grades 0.66 g/t Au and 7.10 g/t Ag. Pete Bernier president & CEO said "We now have results from 12 of our initial 15 drill holes. They show mineralization for 500 metres in a northerly direction between BW 46 and BW 42 and for 700 metres in a westerly direction between BW 46 and BW 53. Many holes end in mineralization." The company expects assay results for the last three phase 1 holes, namely BW 54, 55, and 56 drilled on the north flank of the Gold Zone soon. Four further holes BW 57, 58, 59 and 60 are currently being drilled to test areas in the large Induced Potential Chargeability high near earlier holes BW 46 and BW 48. Quality assurance The assays have been verified by evaluating them next to assays of duplicate samples, certified standards and blanks to ensure accuracy and reproducibility. Richfield's rigorous quality assurance/quality control program at the Blackwater property uses best industry practice and is supervised by Dirk Tempelman-Kluit. It includes chain of custody of samples from drill to laboratory. Drill core is sawn in half lengthwise at the property and for each sample half of the core from one metre intervals is placed in plastic bags and sealed. A certified standard sample, supplied by an independent laboratory, a blank sample or a duplicate sample is inserted into the sample stream every tenth sample. Samples including the blanks and standards, are shipped by courier to Eco Tech Stewart Group Laboratories in Kamloops, B.C. Duplicate samples are shipped by courier to Acme Laboratories, Vancouver for analysis. About Richfield Ventures Corp. Richfield Ventures Corp. is a public mineral exploration company trading on the TSX Venture Exchange under the symbol RVC. Richfield has been actively acquiring and exploring mineral tenures in the Quesnel Trough and Nechako Plateau regions of British Columbia. On behalf of the Board of Directors of Richfield Ventures Corp. "Peter Bernier" Peter Bernier, President For further information contact:
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. 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. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
