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Rio2 Limited Drills 148m @ 0.78 g/t Au and 44m @ 1.26 g/t Au at the Fenix Gold Project, Chile
VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; BVL: RIO; OTCQX: RIOFF) is pleased to announc
About this update from Rio2 Limited
[{"type":"text","content":" VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; BVL: RIO; OTCQX: RIOFF) is pleased to announce additional drilling results from 28 reverse circulation (“RC”) drill holes and 6 surface trenches at its Fenix Gold Project located in the Maricunga region, Chile. The drilling described in this press release represents the final 4,830 meters drilled of a 7,066 meter drilling program that commenced in late November 2018, which focused on the US$ 728 pit shell defined in “NI 43-101 Technical Report on the Cerro Maricunga Project Pre-Feasibility Study Atacama Region, Chile” dated October 6, 2014 with an effective date of August 19, 2014, a copy of which document is available on SEDAR under Rio’s SEDAR profile at www.sedar.com. The Cerro Maricunga Project was renamed the Fenix Gold Project by Rio2 in 2018. The results of the initial 11 RC drill holes (2,236 metres) and 4 surface trenches were released on January 22, 2019. The objective of this drilling program was to intersect and define east-west structural feeders that the geologists believe are controlling the near surface higher grade mineralization. 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 which is currently planned for completion at the end of Q1, 2019. The total mineral proven and probable reserve estimate as outlined in the 2014 Technical Report is 294.4 million tonnes at an average grade of 0.40 g/t gold for a total of 3,743,000 gold ounces. The Company’s geologists believe 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 that has been simply constrained by a 0.15 g/t Au grade shell without considering geological domaining. The Company’s geologists have also resampled surface exposures of the mineralized resource to include this information in the revised resource estimate. Previous surface sampling was not included in the current resource estimate despite a high proportion of samples being above the average mineralized resource grade and the resource outcropping at surface. Surface sampling results from the final 6 surface...