Please check back through the news, as new Participating companies are added, for some ‘historical news’…
Phase I drilling at the Mouse Mountain property was completed January 27th, 2008, with a total of 5544 metres in 15 holes. Results for the first hole was released previously (see News Release dated December 21, 2007) and the company continues to log and sample the core for the remaining drill holes. Assay results will be released as they are received, compiled, and interpreted, in preparation for the Phase 2 drilling program, which is expected to start in April.
In the Phase 1 program, Induced Polarization (IP) chargeability and resistivity targets were drilltested with two holes, coincident airborne radiometric potassium, thorium and total field magnetic anomalies were targeted with two holes, and two other holes were drilled westward under the Valentine mineralized zone. The remaining nine holes targeted the Rainbow mineralized zone, and it is there that the best visual results have been observed in the drilling (visual drill results are now available for viewing at www.richfieldventures.ca). Although most holes remain to be logged and sampled in detail, chalcopyrite was noted in a number of the holes, and the drilling shows that the zone of strongly altered and locally copper-mineralized rocks extends to at least 150 metres depth, where it appears to encompass an area of at least 17 ha. This area is more than 3 times as large as the area of altered and mineralized rocks outlined to date in the Rainbow zone at surface.,
Dr. Andre Panteleyev of Richfield’s Advisory Committee, who is an international authority on alkalic porphyry copper gold deposits, recently visited the Mouse Mountain property and examined the core from several holes. He is positive about the rocks he saw and considers that the ground is “well prepared, and has good evidence for an alkalic porphyry copper-gold occurrence, including the mineralization.”
The rest of the advisory committee, which also includes Dr. Gerry Carlson, Dr. Lindsay Bottomer, and Dr. David Terry, met with RVC management last week to review the drill program thus far. They feel that the rocks encountered in the drilling to date may lie close to, but along trend from (and/or above), mineralization with somewhat better tenor.
In other news, Geoscience BC has now released the raw data from the initial geophysical components of the 5 million dollar QUEST Project. along with new hyperspectral imagery. The Quest program covered the entire 250,000 acre land package of Richfield Ventures, and it appears to have yielded encouraging results. The initial data includes Versatile Time-Domain Electromagnetic (VTEM) data, along with maps and a contractor's report. Richfield Ventures has engaged the services of Dr. Rob Shives, a widely respected geophysicist with over 25 years experience collecting and interpreting geophysical data, to review and interpret the raw Quest Project data for the part of the survey flown over the company’s ground.
Exploration plans for 2008 in Richfield’s Quesnel Trough project, include Phase 2 drilling at Mouse Mountain, and preliminary drilling at the G-South, Chubby Bear and Moustique properties. G-south is an advanced VMS target, Chubby Bear is more grass-roots target with a 400 by 700 metre multielement soil geochemical anomaly, and Moustique is a molybdenum target with a 500 by 700 metre molybdenum-in-soil geochemical anomaly. The company also has plans for a reconnaissance mapping and sampling program on the newly-acquired Trapper Lake gold property in northwest BC, in the vicinity of the past-producing Golden Bear gold mine. exploration discovery wealth.
The scientific and technical information contained in this news release was prepared under the supervision of Charles Greig, M.Sc. P.Geo., the company’s “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
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.
On behalf of the Board of Directors of Richfield Ventures Corp.
"Peter Bernier"
Peter Bernier, President
THE TSX VENTURE EXCHANGE HAS NOT REVEIWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities.
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