Richfield Ventures has released assay results from the first four holes of 30,000 meter drilling to expand and outline the Blackwater Gold Project resources, which is around 100 km south of Vanderhoof, BC.
The holes BW 117 and BW 119 are drilled vertically to the west of BW 68. Due to drilling problems, BW 117 was stopped intersecting at 130 meters but BW 119 was immediately drilled to a depth of 438 meters.
The hole BW 119 cut 3.90 g/t gold over 15 meters and 1.25 g/t gold again at 395 meters. Composite 5 meter intervals of gold grades are similar where replication of BW 117 and BW 119 occurs. The usage of grade shell model in the resource estimate is confirmed by long intersection in BW 119.
The hole BW 118 intersects 1.52 g/t gold over 99 meters at bedrock contact. Further, it cuts 2.69 G/t gold over 18 meters. BW 118 encounters mineralization at the outer surface of resource estimate grade shell but within 100 meters.
The hole BW 120 is present between BW 74 and BW 90 and confirms the resource estimate model. It cuts 5.00 g/t gold over 40 meters. At Bedrock contact, the hole intersects 1.67 g/t gold over 288.64 meters at an average.
Geosim Services, Canada prepares and submits the resource estimate report. The estimated Indicated Resource is 53.46 million tons of grading 1.06 g/t gold at an average. The estimated inferred resource is 75.45 million tons of grading 0.96 g/t gold at an average.
Richfield will mobilize drill rigs to the property and accelerate drilling in the third week of March 2011.