| February 09, 2010 Richfield Ventures Corp. update on the "Blackwater" Gold Project, B.C. | |
| February 9, 2010 -- Quesnel, BC: Richfield Ventures Corp. (TSX-V:RVC) "Richfield" or the "Company" reports on plans for the Blackwater project. Following its successful 2009 exploration season, Richfield Ventures Corp plans an aggressive two stage follow up drill program consisting of approximately 50 diamond drill holes totaling 25,000 metres on the Blackwater project. Two drills will be mobilized for the work starting early April 2010. Stage 1, the exploration stage, includes stepping out in directions where the deposit is open and to depth; this drilling will be completed in the summer of 2010. It will consist of some 20 diamond drill holes nominally to 500 metres depth for 10,000 metres total. A first step will be to deepen BW59 which averaged 1.25g/t Au over 329 M, (NR January 5th, 2010) and ended in 5 Metres of 9 g/t. Stage 2, the resource drilling stage, will begin in late April with the second drill. The infill drilling is being planned in conjunction with RVC's technical advisor Ron Simpson P.Geo. of Geosim Services Inc. to optimize the hole density needed to calculate a 43-101 compliant resource at the end of the stage 2 program. Approximately 30 diamond drill holes are planned to depths between 300 and 500 metres. The aim is to increase drill density between BW 59 and the Gold Zone and between BW 59 and BW 46 and connect with stage 1 drilling. The two stages will allow preparation of a 43-101 compliant resource estimate. Stage 2 is expected to be completed January 2011. Initial metallurgical testing will be undertaken during the drilling to determine optimal precious metal recovery procedures and effectiveness from the mineralized rocks. Applications for drilling permits have been submitted and permits are expected in March 2010. Having successfully completed a 7.5 million dollar private placement financing through L.O.M. group of Toronto December 2009, Richfield is amply financed to complete the proposed drilling. News concerning other property acquisitions and JV opportunities will be released separately. The scientific and technical information contained in this news release was prepared under the supervision of Dirk Tempelman-Kluit Ph.D, FGAC, VP Exploration for Richfield Ventures Corp, and has been reviewed by Lindsay Bottomer, P.Geo., who is a "Qualified Person" as defined under National Instrument 43-101. 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 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: Peter Bernier, President Richfield Ventures Corp. 101-242 Reid Street Quesnel, BC V2J 2M2 Toll Free 1-877-992-6644 Phone: (250) 992-6644 Fax: (250) 992-6643 pete@richfieldventures.ca www.richfieldventures.ca 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. | |
