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Rio2 Limited Drills 192m @ 0.81 g/t Au and 124m @ 0.77 g/t Au at the Fenix Gold Project, Chile
TORONTO, Jan. 22, 2019 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; BVL: RIO) is pleased to announce drilling results from the first 1
About this update from Rio2 Limited
[{"type":"text","content":" TORONTO, Jan. 22, 2019 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; BVL: RIO) is pleased to announce drilling results from the first 11 reverse circulation (“RC”) drill holes and 4 surface trenches at its Fenix Gold Project located in the Maricunga region, Chile. The drilling represents 2,236 meters drilled to date of an approximate 7,000-meter drilling program that commenced in late November 2018. The objective of this drilling is 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$728 pit shell and assist in better defining the near surface higher grade mineralized component of the new resource estimate which is currently planned for completion at the end of Q1, 2019. The US$ 728 pit shell was defined in the “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 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 grade shell without considering geological domaining. The Company’s geologists are also resampling 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 initial work conducted to date are: Trench from to Interval (m) Au g/t FG-T18-001 0 130 130 0.578 Including 0 34 34 1.231 FG-T18-001 154 178 24 0.604 Including 170 178 8 1.456 &...