Revolution Continues to Expand Near-Surface Gold Mineralization at Champion Hills, North Carolina
VANCOUVER, Jan. 23, 2012 /CNW/ - Revolution Resources Corp TSX:RV ('Revolution' or 'the Company') is pleased to announce that recent drilling at the Champion Hills project in North Carolina continues to define and expand near-surface gold mineralization at the Company's Loflin and Jones-Keystone deposits.The recently completed drill program focused on defining and expanding recent discoveries made by Revolution at Champion Hills. The Company intends to begin an initial NI 43-101 compliant resource estimate in Q3, 2012. Numerous significant shallow intersections confirm a significant near-surface gold system at Champion Hills (the majority of intercepts occur less than 100 meters below surface). Both Loflin and Jones-Keystone remain open to expansion at depth and along strike. Revolution is in the final stages of completing the Company's 2012 exploration program and will provide updated guidance in the coming weeks.
Highlights from the recent drilling include:
-- LF11-030: 32.0 meters averaging 1.34 g/t Au
-- LF11-031: 29.0 meters averaging 1.12 g/t Au
-- JK11-036: 15.0 meters averaging 1.36 g/t Au
-- JK11-048: 34.5 meters averaging 1.11 g/t Au
'Given our close proximity to infrastructure and continued success intercepting mineralization close to surface at both Loflin and Jones-Keystone, we feel that it is important to begin looking at economic factors that will determine the viability of Champion Hills. In addition to the NI 43-101 report, we intend to begin base line economic studies at Loflin and Jones-Keystone,' said Aaron Keay, President and CEO of Revolution.
2011 Year End Champion Hills Project Summary
Revolution has completed 107 core holes for 21,904 meters of drilling at Champion Hills in 2011. The majority of drilling to date has concentrated on expanding the 2011 discoveries made at Loflin and Jones-Keystone. Mineralization at Loflin and Jones-Keystone, and Romarco Minerals' Haile project located in South Carolina, occur in a similar geological setting in the Carolina Slate Belt. Romarco is currently permitting Haile. Romarco recently announced a successful first phase of drilling at the Hickory project located in the Champion Hills Trend neighboring Revolution's key properties. A second phase of drilling at Hickory was also announced. (See Romarco Minerals news release; January 17, 2012.)
Company Highlights from 2011:
-- Initial discoveries announced in Q1 at both Loflin and
Jones-Keystone properties
-- Completed a $9 million institutional equity financing following
first phase of drilling
-- Satellite discovery at Jerico Hill: 22.5 avg 6.10 g/t Au and
258.7 g/t Ag
-- Completed approximately 20,000 meters of drilling at Champion
Hills
-- Acquisition of the Mexican portfolio from Lake Shore Gold
-- Completed a $4.5 million equity financing
-- Kinross acquired a 9% stake in Revolution
-- Initiated drilling and surface exploration at Universo
property, Mexico.
Loflin
Recent drilling at Loflin expanded mineralization of the main gold zone along strike, down dip and down plunge. Mineralization has now been defined over a strike length of 400 meters and remains open in all directions for expansion. The Loflin Zone has potential to host significant open-pit style gold resources as demonstrated by the recent near-surface intersections of 1.34 g/t Au across 32.0m including 4.13 g/t Au across 6.1m in hole LF11-030 and 1.12 g/t Au across 29.0m including 2.60 g/t Au across 9.1m in hole LF11-031, as well as previously released intersections of 1.10 g/t Au across 70.0m including 2.19 g/t Au across 20.0m in hole LF10-017 and 1.12 g/t Au across 74.0m including 2.59 g/t Au across 30.0m in hole LF10-018. Complete drill results from Loflin are listed in Table 1.
Gold mineralization at Loflin is hosted within mafic metavolcanic flows and tuffs, with strong disseminated pyrite, arsenopyrite and pyrrhotite mineralization. The main zone is contained within the core of a northeast trending syncline with a gentle northeast plunge. Loflin also hosts multiple historic mine workings, both shallow pits and adits confined to the saprolitic surface rock.
Table 1
_______________________________________________________________
|Hole-ID |From (m)|To (m)|Length (m)| Au (g/t) |
|_________|________|______|__________|__________________________|
|LF11-025 | 27.4 | 57.3 | 29.9 | 0.63 |
|_________|________|______|__________|__________________________|
|including| 27.4 | 36.4 | 9.0 | 1.01 |
|_________|________|______|__________|__________________________|
|LF11-026 | 88.0 |105.5 | 17.5 | 1.04 |
|_________|________|______|__________|__________________________|
|LF11-027 | 61.2 | 66.0 | 4.8 | 0.91 |
|_________|________|______|__________|__________________________|
| | 194.2 |196.3 | 2.1 | 1.54 |
|_________|________|______|__________|__________________________|
|LF11-029 | 96.9 |102.0 | 5.1 | 0.90 |
|_________|________|______|__________|__________________________|
|LF11-030 | 0.0 | 32.0 | 32.0 | 1.34 |
|_________|________|______|__________|__________________________|
|including| 25.9 | 32.0 | 6.1 | 4.13 |
|_________|________|______|__________|__________________________|
|LF11-031 | 0.0 | 29.0 | 29.0 | 1.05 |
|_________|________|______|__________|__________________________|
|including| 16.8 | 25.9 | 9.1 | 2.16 |
|_________|________|______|__________|__________________________|
|LF11-032 | 50.2 | 54.0 | 3.8 | 0.84 |
|_________|________|______|__________|__________________________|
| | 162.9 |165.6 | 2.7 | 0.92 |
|_________|________|______|__________|__________________________|
|LF11-033 | 52.0 | 71.0 | 19.0 | 0.66 |
|_________|________|______|__________|__________________________|
|including| 66.5 | 71.0 | 4.5 | 2.00 |
|_________|________|______|__________|__________________________|
| | 96.7 |102.7 | 6.0 | 0.93 |
|_________|________|______|__________|__________________________|
|LF11-034 | 112.0 |120.7 | 8.7 | 1.83 |
|_________|________|______|__________|__________________________|
|LF11-037 | 54.5 | 74.3 | 19.8 | 0.80 |
|_________|________|______|__________|__________________________|
|including| 70.1 | 74.3 | 4.2 | 1.50 |
|_________|________|______|__________|__________________________|
|LF11-038 | 75.2 | 85.5 | 10.3 | 1.23 |
|_________|________|______|__________|__________________________|
|LF11-039 | 16.8 | 47.5 | 30.7 | 1.12 |
|_________|________|______|__________|__________________________|
|including| 37.0 | 43.0 | 6.0 | 2.70 |
|_________|________|______|__________|__________________________|
|LF11-040 | 23.0 | 38.1 | 15.1 | 0.83 |
|_________|________|______|__________|__________________________|
|including| 34.4 | 38.1 | 3.7 | 2.14 |
|_________|________|______|__________|__________________________|
| | 52.0 | 68.8 | 16.8 | 0.74 |
|_________|________|______|__________|__________________________|
|including| 59.0 | 68.8 | 9.8 | 0.92 |
|_________|________|______|__________|__________________________|
|LF11-041 | 27.0 | 50.5 | 23.5 | 0.52 |
|_________|________|______|__________|__________________________|
|including| 27.0 | 40.0 | 13.0 | 0.63 |
|_________|________|______|__________|__________________________|
|LF11-042 | 3.0 | 4.6 | 1.6 | 1.59 |
|_________|________|______|__________|__________________________|
|LF11-043 | 0.0 | 9.1 | 9.1 | 0.57 |
|_________|________|______|__________|__________________________|
|* True widths are approximately 75% | |
|____________________________________|__________________________|
|** Drill hole numbers not in sequence are considered to have no|
|significant assays |
|_______________________________________________________________|
Jones-Keystone
Near-surface gold mineralization at Jones-Keystone has now been traced over a strike length of 850 meters. Recent drilling indicates that the gold mineralization is hosted within a broad northeast trending syncline with a shallow southwest plunge. Multiple gold zones occur within both limbs of the fold, with the thickest sequence of gold mineralization occurring at the fold hinge, as shown by the previously released intersection of 1.27 g/t Au across 104.0 m in hole JK11-017. All zones are open both up and down plunge as well as along strike in both limbs of the fold. Highlights from the recent drilling include 1.36 g/t Au across 15.2 mincluding 3.07 g/t Au across 5.7 m in hole JK11-036 and 1.11 g/t Au across 34.5 mincluding5.53 g/t Au across 4.0 m in hole JK11-048. New drill results from Jones-Keystone are listed in Table 2.
Jones-Keystone is located along the same structural corridor as the Loflin target, 1000 m northeast along the Champion Hills trend. Gold mineralization is hosted in mafic metavolcanic flows and their derivatives, with strong disseminated pyrite and pyrrhotite mineralization. Jones- Keystone also hosts numerous shallow open pit mine workings.
Table 2
_______________________________________________________________
|Hole-ID |From (m)|To (m)|Length (m)| Au (g/t) |
|_________|________|______|__________|__________________________|
|JK11-030 | 120.3 |124.4 | 4.1 | 1.36 |
|_________|________|______|__________|__________________________|
| | 155.8 |158.8 | 3.0 | 1.53 |
|_________|________|______|__________|__________________________|
|JK11-031 | 84.3 |158.0 | 73.7 | 0.55 |
|_________|________|______|__________|__________________________|
|including| 113.0 |121.0 | 8.0 | 1.05 |
|_________|________|______|__________|__________________________|
|including| 149.0 |156.5 | 7.5 | 1.10 |
|_________|________|______|__________|__________________________|
|JK11-032 | 206.5 |218.5 | 12.0 | 0.72 |
|_________|________|______|__________|__________________________|
|JK11-034 | 59.0 | 63.0 | 4.0 | 0.97 |
|_________|________|______|__________|__________________________|
|JK11-035 | 103.1 |114.4 | 11.3 | 0.84 |
|_________|________|______|__________|__________________________|
|JK11-036 | 45.0 | 61.7 | 15.2 | 1.36 |
|_________|________|______|__________|__________________________|
|including| 54.5 | 60.2 | 5.7 | 3.07 |
|_________|________|______|__________|__________________________|
|JK11-045 | 267.5 |276.0 | 8.5 | 0.48 |
|_________|________|______|__________|__________________________|
|JK11-047 | 90.3 |104.5 | 14.2 | 1.11 |
|_________|________|______|__________|__________________________|
|JK11-048 | 103.5 |138.0 | 34.5 | 1.11 |
|_________|________|______|__________|__________________________|
|including| 114.0 |138.0 | 24.0 | 1.52 |
|_________|________|______|__________|__________________________|
|including| 128.0 |132.0 | 4.0 | 5.53 |
|_________|________|______|__________|__________________________|
|* True widths are approximately 70% | |
|____________________________________|__________________________|
|** Drill hole numbers not in sequence are considered to have no|
|significant assays |
|_______________________________________________________________|
To date, Revolution has completed 21,904 m of core drilling in North Carolina and has identified widespread gold mineralization on its Champion Hills project. The majority of the drilling has been focused on advancing the Loflin and Jones-Keystone targets, and has been successful in demonstrating size potential for the region.
Property location maps, drill hole maps and full assay results can be viewed on the Company's website at www.revolutionresourcescorp.com.
The Champion Hills Project
The Champion Hills Project is comprised of multiple historic pits and workings within a 35 kilometer long trend in North Carolina. The project occurs within the Carolina Slate Belt, which hosts most of the major gold mines in the southeastern U.S. Significant deposits include the Ridgeway Mine, which produced 1.5 million ounces of gold from 1988 to 1999, and Romarco's Haile Mine project. The Champion Hills project is geologically analogous to these deposits, whereby gold mineralization is hosted within quartz-sericite-pyrite altered volcanic rocks, associated with northeast trending structural corridors.
Minimal modern exploration has occurred in the Carolina Slate Belt, generally due to previous complex land tenure. Gold was discovered in Champion Hills in the early 1800's, with small scale production from many small operations. Mining continued in the area through the 1930's depression era. Noranda explored Champion Hills for shallow, open-pit gold deposits from 1989 to 1992, completing 23 core holes totalling 2,936 meters. Information on the Champion Hills trend can be viewed on the Company's website at www.revolutionresourcescorp.com.
Mexico
Revolution's newly-acquired Mexican property portfolio contains land totaling over 400,000 hectares. The properties cover two distinct districts situated in regions which host current- and past-producing mines. The immediate focus is at Universo, where Revolution currently has three core drills on site testing multiple gold-silver targets. Universo is located on trend with Goldcorp's Penasquito and Camino Rojo deposits (17.8Moz Au, 882Moz Ag, and 4.0Moz Au, 68.3Moz Ag respectively), and New Gold's Cerro San Pedro (3.7Moz Au, 129.8Moz Ag). Historical highlight drilling as reported by Minera Kennecott includes 21.3m of 11.7g/t Au, 37g/t Ag. Initial drilling results are expected over the next several weeks from the Navarro and La Perdida targets.
About Revolution
Revolution's 2011 exploration program at Champion Hills is performed under the supervision of Katie Lucas, P.Geo. and Robert McLeod, P.Geo, a Director of Revolution. Both are Qualified Persons as defined by NI 43-101. Drill cores are cut in half using a diamond saw, with one half placed in sealed bags, and delivered to Activation Laboratories, an accredited laboratory in Ancaster, Ontario, for preparation and analysis using both fire assay and multi-element ICP methods. A sample quality control/quality assurance program utilizing standards and blanks, as well as third-party check labs has been implemented. Contents of this release were prepared by and approved for release by Mr. McLeod.
Revolution Resources Corp. is a TSX-listed gold exploration company
based in Vancouver, BC, Canada. Well-funded and with no long-term debt, the Company's current exploration activities are focused on two flagship projects located in the Champion Hills district of North Carolina and the newly-optioned property portfolio of Lake Shore Gold in Mexico, previously owned by West Timmins Mining. ON BEHALF OF THE BOARD
of Revolution Resources Corp
'Aaron Keay'
President, CEO and Director
Forward-Looking Statements: Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to proposed exploration, development and production activities and their timing, potential mineralization and the anticipated acquisition of property interests. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, receipt of regulatory approvals, completion of anticipated transactions, the timing and success of future exploration, development and production activities, exploration and development risks, expenditure and financing requirements, title matters, third party consents, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices and one-time events. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
Revolution Resources Corp.
CONTACT: Dylan Berg
Manager, Investor Relations
604-681-5672 direct
604-616-1182 cell
dylan@revolutionrc.com
Aaron Keay
President, CEO and Director
604-678-4024 direct
604-323-6911 cell
aaron@revolutionrc.com