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Rio2 Limited Begins Drilling Program at Fenix Gold Project
TORONTO, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; BVL: RIO) is pleased to announce that a 7,000-meter in-pit drillin
About this update from Rio2 Limited
[{"type":"text","content":" TORONTO, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; BVL: RIO) is pleased to announce that a 7,000-meter in-pit drilling program has commenced at its Fenix Gold Project located in the Atacama Region (III Region, Chile) within the well-known Maricunga Mineral Belt. The drilling is focused on the US$728 pit shell as defined in the Project’s Pre-Feasibility Study completed in 2014. As previously announced, the objective of this drilling is to intersect and define east-west structural feeders that the geologists believe are controlling the higher grade mineralization, as evidenced in surface sampling. The drilling will also serve as a check for previous drilling within the US$728 pit shell and assist in better defining the near surface higher grade mineralized component of the new resource estimate for the deposit to be completed by the end of the first quarter of 2019. The in-pit drilling campaign, including assaying, is expected to take up to three months to complete and will be followed by a series of geo-metallurgical, geotechnical and condemnation drill holes. Metallurgical drilling will assist the Company on completing a trade-off of various crushing options for the project while geotechnical drilling will focus on pit wall stability and condemnation drilling will be targeted in areas of mine infrastructure such as leach pad, waste dump, process plant and other mine facilities. All the information gathered from this additional drilling will contribute to the planned Feasibility Study which is expected to be completed in second half of 2019. Rio2’s geologists have recently completed the re-logging of the existing core from past drilling programs dating back to 2010. The principal reason for re-logging the core is to generate, for the first time, a geological model that will support the new resource estimate to be completed in the first quarter of 2019. The Company believes that there is a high-grade component to the resource related to structures and breccias which are prevalent in the deposit but have not been defined in the current resource estimate which has been constrained by a 0.15 g/t grade shell without considering geological domaining. The geologists are also resampling surface exposures of the mineralized resource to include this information in the revised resource estimate. P...