Nov 3 2010
Rio Cristal Resources Corporation (TSX VENTURE:RCZ)(BVLAC:RCZ) announces that drilling has begun at its Condor gold project.
Thomas Findley, President and CEO of Rio Cristal, said, "We are pleased to have begun our initial drilling program at our Condor gold project. Four platforms have been constructed and we will drill seven holes totaling approximately 1,000 meters. We expect to have the program complete and laboratory results in hand by the end of December. During drilling, field crews will continue mapping and sampling to generate additional targets within the Company's 2,543 hectare land position."
He continued, "The $3.2 million of financing we raised in Lima in September allows us to start the Condor drilling program and to begin planning a second drilling campaign at our flagship Bongará zinc project for next April when the rain season ends."
Drilling will take place principally in Zone 2 of the Condor project. Earlier this year, the Company reported excellent results from its bulk sampling program in Zone 2 where gold assays from five bulk samples range from 1.12 to 6.82 grams per tonne ("g/t") and averaged 3.25 g/t. See news release dated March 15, 2010.
In 2009 continuous channel sampling along a shallow-dipping, approximately 8-10 meter-thick sandstone containing abundant quartz-sulfide veins reported a section of 54 meters assaying 1.16 g/t gold, including a section of 3 meters of 7.69 g/t gold, also in Zone 2. See news release dated Oct. 28, 2009.
The principal economic targets at Condor are gold-mineralized, potentially bulk-mineable zones hosted in sandstone and volcaniclastic sequences of Cretaceous to Lower Tertiary age.
The 2,543 hectare Condor gold-silver-base metals prospect is located 375 kilometers southeast of Lima, in the department of Ayacucho on the western slopes of the Andes. The property comprises 12 contiguous mining claims situated in the traditional artisanal mining district of Otoca.
As required by the National Instrument 43-101, Rio Cristal Resource's designated Qualified Person is John Brophy, who has verified the technical information reported in this news release.
Source:
Rio Cristal Resources Corporation