Red Back (RBI.TO) new gold area near Chirano
FEBRUARY 22, 2006 - 12:10 ET
Red Back Mining Inc.: Drilling Confirms Abodoabo Discovery
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 22, 2006) - Red Back Mining Inc. (the "Company" or "Red Back") (TSX:RBI) is pleased to announce that following the release of trenching results (please see news release dated November 23, 2005) a first pass reverse circulation (RC) drilling program on the Abodoabo Prospect has confirmed the discovery of a new mineralized zone located 5 kilometres north of the Company's Chirano Gold Mine.
The 11 hole, 1,534 metre program tested a strike length of 750 metres on 100 metre spaced section lines. Results for the drilling are tabulated below:
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Hole Northing From To Metres Au g/t
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CHRC 714 41950 9 17 8 0.96
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26 33 7 2.06
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41 44 3 1.00
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51 57 6 2.55
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CHRC 715 42000 10 20 10 2.42
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28 33 5 0.86
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58 61 3 3.64
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67 70 3 1.63
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84 87 3 0.65
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CHRC 716 42050 37 41 4 1.09
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46 49 3 0.61
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CHRC 717 42050 29 32 3 3.35
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CHRC 718 42150 59 62 3 2.23
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71 76 5 1.77
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82 85 3 0.52
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86 91 5 1.34
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CHRC 719 42250 14 17 3 0.62
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CHRC 720 42300 91 109 18 2.80
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incl 95 98 3 9.72
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112 115 3 2.03
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CHRC 721 42400 53 56 3 0.65
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77 80 3 1.31
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CHRC 722 42500 39 42 3 1.09
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61 64 3 0.75
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CHRC 723 42600 70 73 3 0.60
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127 150 23 2.80
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CHRC 724 42700 61 73 12 1.82
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76 82 6 1.52
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Mineralisation is hosted by sheared phyllitic sediments just east of the main Birimian volcanic - sediment contact in a similar structural setting to the Bibiani gold mine (historical production +4 million ounces) owned by Anglogold Ashanti, 15km to the north.
Drilling will re-commence at Abodoabo in early March towards an initial resource definition.
Commenting on the results, Richard Clark, President and CEO of the Company stated, "A primary focus for Red Back in 2006 is to expand reserves at Chirano. The confirmation of extensive mineralization at Abodoabo only 5 km to the north of the Chirano process plant is an early success towards this objective."
Drilling has now re-commenced at the Akwaaba deposit, following up on recently reported high grade intercepts below the currently designed open pit. March will see the commencement of an infill program below the two primary pits at Chirano, Tano and Obra, towards expanding these pits at depth and testing for high grade extensions.
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. 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.
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 a minimum of 123,000 ounces of gold per year over an initial 8.5 year mine life. In addition to Chirano the Company has significant landholdings in Ghana both in proximity and along strike from Chirano and regionally.
On behalf of the Board of Directors
Richard P. Clark, President
This News Release contains forward looking statements which are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward looking statements. The Company does not intend to update this information and disclaims any legal liability to the contrary.
AI
