Wednesday, January 11, 2006 10:53:07 AM
Hey Tackler/Ed or board
Could someone intrepret this for me, excuse my ingorance!
Press Release Source: Red Back Mining Inc.
Red Back Reports Main Zone at Enchi Exploration Target Expanded
Tuesday January 10, 10:51 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 10, 2006) - Red Back Mining Inc. ("Red Back" or the "Company") (TSX:RBI - News) is pleased to report that two phases of reverse circulation drilling comprising 10,203 metres have now been completed on the Boin Valley West Prospect at Enchi. The drilling has targeted two mineralised zones, the Main and North Zones, over a combined strike length of 3.9 kilometres. All the results from these programs have now been received and have identified the continuation of the Main Zone to the north of previously announced results and have defined the North Zone over an initial strike length of 2.3 kilometres. Highlights from the two phase program are as follows:
------------------------------------------------------------
Interval Grade
Hole ID Northing From To (m) (g/t gold)
------------------------------------------------------------
KBRC001 4200 29 49 20 1.57
----------------------------------------
incl 24 44 10 2.56
------------------------------------------------------------
KBRC002 4200 67 70 3 0.65
----------------------------------------
82 102 20 1.42
------------------------------------------------------------
KBRC003 4200 92 96 4 0.73
----------------------------------------
103 106 3 0.42
----------------------------------------
113 121 8 1.00
----------------------------------------
138 142 4 0.39
------------------------------------------------------------
KBRC004 4100 67 83 16 2.26
------------------------------------------------------------
KBRC005 4100 88 91 3 0.95
----------------------------------------
94 99 5 1.41
----------------------------------------
112 118 6 1.78
------------------------------------------------------------
KBRC006 4100 134 137 3 0.55
------------------------------------------------------------
KBRC007 3800 59 71 12 1.13
----------------------------------------
75 78 3 1.09
----------------------------------------
84 96 12 1.75
----------------------------------------
116 133 17 1.07
----------------------------------------
140 150 eoh 10 1.02
------------------------------------------------------------
KBRC008 3800 26 56 30 1.92
------------------------------------------------------------
KBRC011 3900 53 57 4 1.55
----------------------------------------
74 79 5 1.56
----------------------------------------
92 98 6 0.57
----------------------------------------
105 126 21 2.56
----------------------------------------
incl 114 126 12 3.82
------------------------------------------------------------
KBRC012 4000 31 64 33 2.10
----------------------------------------
incl 46 63 17 3.43
------------------------------------------------------------
KBRC013 4000 88 106 18 1.80
----------------------------------------
incl 88 100 12 2.49
------------------------------------------------------------
KBRC014 3700 5 61 56 0.90
----------------------------------------
incl 5 21 16 1.29
----------------------------------------
incl 24 42 18 1.13
------------------------------------------------------------
KBRC021 3500 135 150 eoh 15 0.52
------------------------------------------------------------
KBRC023 3400 41 51 10 1.08
----------------------------------------
108 118 10 0.89
------------------------------------------------------------
KBRC024 3300 39 61 22 1.44
----------------------------------------
99 150 eoh 51 0.75
----------------------------------------
incl 111 125 14 0.94
----------------------------------------
incl 129 150 eoh 21 0.91
------------------------------------------------------------
KBRC025 3300 61 82 20 0.98
------------------------------------------------------------
KBRC027 3200 89 101 12 0.98
------------------------------------------------------------
KBRC028 3100 3 10 7 1.24
------------------------------------------------------------
KBRC030 3100 95 112 17 1.70
------------------------------------------------------------
KBRC034 3800 1 18 17 2.82
------------------------------------------------------------
KBRC035 3900 12 24 12 1.61
------------------------------------------------------------
KBRC036 4000 2 6 4 1.18
------------------------------------------------------------
KBRC037 4100 50 58 8 1.59
------------------------------------------------------------
KBRC038 4200 5 26 21 0.99
------------------------------------------------------------
KBRC039 4300 53 59 6 1.09
------------------------------------------------------------
KBRC040 4300 21 30 9 0.67
113 120 7 1.76
------------------------------------------------------------
KBRC044 4400 24 32 8 0.86
----------------------------------------
56 61 5 1.82
----------------------------------------
68 71 3 1.34
----------------------------------------
87 116 29 1.68
------------------------------------------------------------
KBRC045 3500 17 21 4 2.17
------------------------------------------------------------
KBRC047 4600 76 82 6 1.62
----------------------------------------
86 95 9 1.71
------------------------------------------------------------
KBRC048 4600 89 97 8 0.61
------------------------------------------------------------
KBRC059 3900 51 59 8 1.03
----------------------------------------
74 77 3 1.46
----------------------------------------
106 116 10 1.28
------------------------------------------------------------
KBRC061 4000 11 19 8 0.59
----------------------------------------
29 41 12 1.39
------------------------------------------------------------
KBRC062 3200 76 80 4 1.61
----------------------------------------
98 104 6 2.13
----------------------------------------
109 113 4 0.51
------------------------------------------------------------
KBRC065 3300 78 91 13 1.16
----------------------------------------
102 105 3 0.84
------------------------------------------------------------
KBRC067 3800 5 21 16 3.23
------------------------------------------------------------
KBRC068 3800 117 120 3 0.88
----------------------------------------
133 137 4 1.19
------------------------------------------------------------
KBRC069 3800 56 74 18 2.51
------------------------------------------------------------
KBRC071 4300 10 14 4 0.65
----------------------------------------
19 22 3 1.75
------------------------------------------------------------
KBRC072 4300 104 111 7 0.62
----------------------------------------
121 125 4 0.64
------------------------------------------------------------
Shaded results have been previously reported (News Releases dated October 26, 2005 and November 23, 2005). Certain results have been updated based on check assays.
Recent results have extended the known strike of the Main Zone by 400m to the north and the mineralisation has now been traced over a total strike length of 1.6km (3000mN to 4600mN) and remains open to the north and to the south where alluvial cover looks have limited the effectiveness of geochemical sampling.
The Main Zone is hosted by mafic volcaniclastics and phyllitic sediments and dips at 40 degrees to 50 degrees to the west. Mineralization is associated with fine grained disseminated pyrite and silicification within a graphitic shear zone. Whilst drilling will continue to test the strike extensions of the Main Zone, work will also target sections of the Zone where grade and continuity justify infill drilling with a view to establishing an initial resource estimate.
------------------------------------------------------------
Interval Grade
Hole ID Northing From To (m) (g/t gold)
------------------------------------------------------------
KBRC041 4300 26 38 12 1.39
------------------------------------------------------------
KBRC052 4800 111 150 eoh 39 1.79
------------------------------------------------------------
KBRC053 5200 11 26 15 1.61
----------------------------------------
31 37 6 2.35
------------------------------------------------------------
KBRC054 5200 53 65 12 0.87
------------------------------------------------------------
KBRC057 5400 60 66 6 0.99
------------------------------------------------------------
KBRC074 6600 24 32 8 2.53
------------------------------------------------------------
KBRC075 6600 48 52 4 1.87
------------------------------------------------------------
KBRC076 6400 19 35 16 2.51
------------------------------------------------------------
KBRC077 6200 46 52 6 5.78
----------------------------------------
incl 47 49 2 13.44
------------------------------------------------------------
The North Zone has been drilled and trenched over a strike length of 2.3km and like the Main Zone is open to the north and south. This zone is hosted by heavily sheared volcaniclastics and phyllitic sediments and dips steeply to the east. Drilling has been undertaken on widely spaced lines and given the success of this initial program the North Zone is a high priority target for the next phase of drilling.
A further combined Reverse Circulation and Rotary Air Blast drill program at Enchi (20,000 metres) will commence in January. This will test with RAB the extension of the Boin Valley West structure up to 3km to the north and 3km to the south of the area drilled to date into areas of dominantly alluvial cover where isolated soil anomalies suggest the extension of the mineralised structure. The program will also include RC infill and extension drilling at Boin Valley West towards establishing an initial resource. The Boin Valley East anomaly (4.5km south east of Boin Valley West) will also be evaluated to test trench results of up to 250 metres of 0.45 g/t gold.
Commenting on the latest exploration results, Rick Clark, President and CEO of the Company stated:
"The mineral potential at Enchi continues to grow with recent results expanding the size of both the Main and North Zones at Boin Valley West. With this success the Company is targeting an initial resource estimate at the Boin Valley West Project by the middle of 2006. The Company is looking to develop another operation in Ghana to compliment Chirano and early indications suggest that we are on the right track at Enchi."
Red Back Mining Inc. is a Canadian mining company listed on the TSX under the symbol "RBI". The Company holds a 90% interest in the Chirano gold mine located in Ghana, West Africa. Gold production commenced in October, 2005 and is scheduled to produce 123,000 ounces of gold per year over an initial 8.5 year mine life. The Company has additional exploration projects and significant landholdings in Ghana both in proximity and along strike from Chirano and elsewhere in Ghana.
The technical contents of this release have been reviewed by Hugh Stuart, BSc., MSc., a Qualified Person pursuant to NI-43101. Mr. Stuart is the Exploration Manager of the Company. Enchi samples are prepared and analyzed by fire assay using a 50 gram charge at the Transworld Laboratory facility in Tarkwa, Ghana in compliance with industry standards. Field duplicate samples are taken and blanks and standards are added to every batch submitted. Selected samples from this lab are check assayed each month. Abodoabo samples are prepared and analyzed by fire assay using a 50 gram charge at the Analabs facility in Bibiani, Ghana in compliance with industry standards. Field duplicate samples are taken and blanks and standards are added to every batch submitted. Selected samples from this lab are check assayed each month at other Analabs laboratories worldwide. True widths are not accurately known at this time; in some cases they may be less than the core lengths reported.
On behalf of the Board of Directors
Richard P. Clark, President
Contact:
Sophia Shane
Red Back Mining Inc.
(604) 689-7842
www.redbackmining.com
--------------------------------------------------------------------------------
Could someone intrepret this for me, excuse my ingorance!
Press Release Source: Red Back Mining Inc.
Red Back Reports Main Zone at Enchi Exploration Target Expanded
Tuesday January 10, 10:51 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 10, 2006) - Red Back Mining Inc. ("Red Back" or the "Company") (TSX:RBI - News) is pleased to report that two phases of reverse circulation drilling comprising 10,203 metres have now been completed on the Boin Valley West Prospect at Enchi. The drilling has targeted two mineralised zones, the Main and North Zones, over a combined strike length of 3.9 kilometres. All the results from these programs have now been received and have identified the continuation of the Main Zone to the north of previously announced results and have defined the North Zone over an initial strike length of 2.3 kilometres. Highlights from the two phase program are as follows:
------------------------------------------------------------
Interval Grade
Hole ID Northing From To (m) (g/t gold)
------------------------------------------------------------
KBRC001 4200 29 49 20 1.57
----------------------------------------
incl 24 44 10 2.56
------------------------------------------------------------
KBRC002 4200 67 70 3 0.65
----------------------------------------
82 102 20 1.42
------------------------------------------------------------
KBRC003 4200 92 96 4 0.73
----------------------------------------
103 106 3 0.42
----------------------------------------
113 121 8 1.00
----------------------------------------
138 142 4 0.39
------------------------------------------------------------
KBRC004 4100 67 83 16 2.26
------------------------------------------------------------
KBRC005 4100 88 91 3 0.95
----------------------------------------
94 99 5 1.41
----------------------------------------
112 118 6 1.78
------------------------------------------------------------
KBRC006 4100 134 137 3 0.55
------------------------------------------------------------
KBRC007 3800 59 71 12 1.13
----------------------------------------
75 78 3 1.09
----------------------------------------
84 96 12 1.75
----------------------------------------
116 133 17 1.07
----------------------------------------
140 150 eoh 10 1.02
------------------------------------------------------------
KBRC008 3800 26 56 30 1.92
------------------------------------------------------------
KBRC011 3900 53 57 4 1.55
----------------------------------------
74 79 5 1.56
----------------------------------------
92 98 6 0.57
----------------------------------------
105 126 21 2.56
----------------------------------------
incl 114 126 12 3.82
------------------------------------------------------------
KBRC012 4000 31 64 33 2.10
----------------------------------------
incl 46 63 17 3.43
------------------------------------------------------------
KBRC013 4000 88 106 18 1.80
----------------------------------------
incl 88 100 12 2.49
------------------------------------------------------------
KBRC014 3700 5 61 56 0.90
----------------------------------------
incl 5 21 16 1.29
----------------------------------------
incl 24 42 18 1.13
------------------------------------------------------------
KBRC021 3500 135 150 eoh 15 0.52
------------------------------------------------------------
KBRC023 3400 41 51 10 1.08
----------------------------------------
108 118 10 0.89
------------------------------------------------------------
KBRC024 3300 39 61 22 1.44
----------------------------------------
99 150 eoh 51 0.75
----------------------------------------
incl 111 125 14 0.94
----------------------------------------
incl 129 150 eoh 21 0.91
------------------------------------------------------------
KBRC025 3300 61 82 20 0.98
------------------------------------------------------------
KBRC027 3200 89 101 12 0.98
------------------------------------------------------------
KBRC028 3100 3 10 7 1.24
------------------------------------------------------------
KBRC030 3100 95 112 17 1.70
------------------------------------------------------------
KBRC034 3800 1 18 17 2.82
------------------------------------------------------------
KBRC035 3900 12 24 12 1.61
------------------------------------------------------------
KBRC036 4000 2 6 4 1.18
------------------------------------------------------------
KBRC037 4100 50 58 8 1.59
------------------------------------------------------------
KBRC038 4200 5 26 21 0.99
------------------------------------------------------------
KBRC039 4300 53 59 6 1.09
------------------------------------------------------------
KBRC040 4300 21 30 9 0.67
113 120 7 1.76
------------------------------------------------------------
KBRC044 4400 24 32 8 0.86
----------------------------------------
56 61 5 1.82
----------------------------------------
68 71 3 1.34
----------------------------------------
87 116 29 1.68
------------------------------------------------------------
KBRC045 3500 17 21 4 2.17
------------------------------------------------------------
KBRC047 4600 76 82 6 1.62
----------------------------------------
86 95 9 1.71
------------------------------------------------------------
KBRC048 4600 89 97 8 0.61
------------------------------------------------------------
KBRC059 3900 51 59 8 1.03
----------------------------------------
74 77 3 1.46
----------------------------------------
106 116 10 1.28
------------------------------------------------------------
KBRC061 4000 11 19 8 0.59
----------------------------------------
29 41 12 1.39
------------------------------------------------------------
KBRC062 3200 76 80 4 1.61
----------------------------------------
98 104 6 2.13
----------------------------------------
109 113 4 0.51
------------------------------------------------------------
KBRC065 3300 78 91 13 1.16
----------------------------------------
102 105 3 0.84
------------------------------------------------------------
KBRC067 3800 5 21 16 3.23
------------------------------------------------------------
KBRC068 3800 117 120 3 0.88
----------------------------------------
133 137 4 1.19
------------------------------------------------------------
KBRC069 3800 56 74 18 2.51
------------------------------------------------------------
KBRC071 4300 10 14 4 0.65
----------------------------------------
19 22 3 1.75
------------------------------------------------------------
KBRC072 4300 104 111 7 0.62
----------------------------------------
121 125 4 0.64
------------------------------------------------------------
Shaded results have been previously reported (News Releases dated October 26, 2005 and November 23, 2005). Certain results have been updated based on check assays.
Recent results have extended the known strike of the Main Zone by 400m to the north and the mineralisation has now been traced over a total strike length of 1.6km (3000mN to 4600mN) and remains open to the north and to the south where alluvial cover looks have limited the effectiveness of geochemical sampling.
The Main Zone is hosted by mafic volcaniclastics and phyllitic sediments and dips at 40 degrees to 50 degrees to the west. Mineralization is associated with fine grained disseminated pyrite and silicification within a graphitic shear zone. Whilst drilling will continue to test the strike extensions of the Main Zone, work will also target sections of the Zone where grade and continuity justify infill drilling with a view to establishing an initial resource estimate.
------------------------------------------------------------
Interval Grade
Hole ID Northing From To (m) (g/t gold)
------------------------------------------------------------
KBRC041 4300 26 38 12 1.39
------------------------------------------------------------
KBRC052 4800 111 150 eoh 39 1.79
------------------------------------------------------------
KBRC053 5200 11 26 15 1.61
----------------------------------------
31 37 6 2.35
------------------------------------------------------------
KBRC054 5200 53 65 12 0.87
------------------------------------------------------------
KBRC057 5400 60 66 6 0.99
------------------------------------------------------------
KBRC074 6600 24 32 8 2.53
------------------------------------------------------------
KBRC075 6600 48 52 4 1.87
------------------------------------------------------------
KBRC076 6400 19 35 16 2.51
------------------------------------------------------------
KBRC077 6200 46 52 6 5.78
----------------------------------------
incl 47 49 2 13.44
------------------------------------------------------------
The North Zone has been drilled and trenched over a strike length of 2.3km and like the Main Zone is open to the north and south. This zone is hosted by heavily sheared volcaniclastics and phyllitic sediments and dips steeply to the east. Drilling has been undertaken on widely spaced lines and given the success of this initial program the North Zone is a high priority target for the next phase of drilling.
A further combined Reverse Circulation and Rotary Air Blast drill program at Enchi (20,000 metres) will commence in January. This will test with RAB the extension of the Boin Valley West structure up to 3km to the north and 3km to the south of the area drilled to date into areas of dominantly alluvial cover where isolated soil anomalies suggest the extension of the mineralised structure. The program will also include RC infill and extension drilling at Boin Valley West towards establishing an initial resource. The Boin Valley East anomaly (4.5km south east of Boin Valley West) will also be evaluated to test trench results of up to 250 metres of 0.45 g/t gold.
Commenting on the latest exploration results, Rick Clark, President and CEO of the Company stated:
"The mineral potential at Enchi continues to grow with recent results expanding the size of both the Main and North Zones at Boin Valley West. With this success the Company is targeting an initial resource estimate at the Boin Valley West Project by the middle of 2006. The Company is looking to develop another operation in Ghana to compliment Chirano and early indications suggest that we are on the right track at Enchi."
Red Back Mining Inc. is a Canadian mining company listed on the TSX under the symbol "RBI". The Company holds a 90% interest in the Chirano gold mine located in Ghana, West Africa. Gold production commenced in October, 2005 and is scheduled to produce 123,000 ounces of gold per year over an initial 8.5 year mine life. The Company has additional exploration projects and significant landholdings in Ghana both in proximity and along strike from Chirano and elsewhere in Ghana.
The technical contents of this release have been reviewed by Hugh Stuart, BSc., MSc., a Qualified Person pursuant to NI-43101. Mr. Stuart is the Exploration Manager of the Company. Enchi samples are prepared and analyzed by fire assay using a 50 gram charge at the Transworld Laboratory facility in Tarkwa, Ghana in compliance with industry standards. Field duplicate samples are taken and blanks and standards are added to every batch submitted. Selected samples from this lab are check assayed each month. Abodoabo samples are prepared and analyzed by fire assay using a 50 gram charge at the Analabs facility in Bibiani, Ghana in compliance with industry standards. Field duplicate samples are taken and blanks and standards are added to every batch submitted. Selected samples from this lab are check assayed each month at other Analabs laboratories worldwide. True widths are not accurately known at this time; in some cases they may be less than the core lengths reported.
On behalf of the Board of Directors
Richard P. Clark, President
Contact:
Sophia Shane
Red Back Mining Inc.
(604) 689-7842
www.redbackmining.com
--------------------------------------------------------------------------------
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
