Gold Exploration in West Africa

[FL]

Red Back (RBI.V) Discovers New Gold Deposit at Chirano

[partial. For full article, with map, see:
http://web1.kitco.com/pr/1267/article_02072005133400.pdf ]

RED BACK DISCOVERS NEW GOLD DEPOSIT AT CHIRANO
February 7, 2005 (RBI - TSX) ... Red Back Mining Inc. (the “Company”) is pleased to provide an update on its
current exploration program underway in Ghana, West Africa. Please see attached map.
At the end of January the Company had competed 5,600 metres of a 10,000 metre drill program which commenced
in November 2004. The program is testing targets at and around the Company’s Chirano Gold Mine, concentrating
on the Bibiani Shear Zone, which hosts the +5million ounce Bibiani Mine 25 kms north of Chirano, and the Chirano
Shear Zone (a splay off the Bibiani Shear) which hosts the Company’s +1 million ounce Chirano Mine.
The Chirano gold deposits occur in a long, narrow intrusion at regular intervals along a mineralized zone several
kilometers long and within 200 metres to the west of the Chirano hear. The geometry and shape of the deposits
range from tabular (Obra Deposit), pipe-like (Tano Deposit), to multiple parallel loads (Paboase Deposit). The
thickness of the mineralized zone ranges from a few metres to over 70 metres.
The highly successful exploration at Chirano, which to date has led to the discovery of 14 gold deposits, has been
largely empirical, namely stream sediment sampling, soil sampling, trenching and drilling. This same methodology
has been employed in the latest (November 2004 – February 2005) exploration and development program.
New Chirano Prospects
Drill testing of the Kolua prospect, 400 metres west of the Chirano Shear and 1.5 km south of the Suraw Deposit,
has confirmed a new deposit with a strike length of >250m. This new deposit is hosted within the Chirano granite
complex. Reverse circulation drilling at central Kolua has returned intercepts of 8m @ 3.08 g/t Au under a trenching
intercept of 11m @ 1.13 g/t Au, and 23 m @ 2.17 g/t Au (including 7m @ 4.90 g/t Au) under a trenching intercept of
9 m @ 2.3 g/t Au. Work is ongoing at Kolua to delineate the potential of this deposit to extend the Chirano mine life.
The current drill program has also tested the Paboase West prospect, located 400m west of the Paboase Deposit,
which was identified from soil sampling, trenching and two previous drill holes. Significant intercepts to date include
11m @ 2.18 g/t Au and 9m @ 1.47 g/t Au. This prospect is open to the south.
The latest drilling has also focused on the Ekyuiabo gold-arsenic anomaly, 2 km to the east of Chirano. The
Ekyuiabo anomaly is 6 km long and sits on a major structural jog on the Chirano Shear. Ekyuiabo is particularly
significant as the prospect is hosted in a similar geological package to Anglo-Ashanti’s Bibiani mine, 25 km to the
north. Drill results to date include 8m @ 2.91g/t and 8m @ 6.04 g/t Au (including 4m @ 11.5 g/t Au) on the same
section, 18m @ 1.07 g/t Au and 18m @ 1.20 g/t Au. Drilling is continuing.
...
Red Back Mining Inc
2101 - 885 West Georgia Street, Vancouver, BC Canada V6C 3E8
Tel: [phone] Fax: [phone] redbackmininginc.com