Trading Symbol: TSX-V: RGZ
TORONTO, Sept. 28 /CNW/ - Randsburg International Gold Corporation
(TSX-V: RGZ) announced today that it has increased its interest to 50% in the
Elephant Gold and Silver joint venture project. The project is located in the
heart of the Battle Mountain mining district of Nevada. The Company has made
all required payments to Duncan Park Holdings Corporation (TSX-V: DPH), its
joint venture partner, and funded exploration as required under the joint
venture agreement between the two parties.
The property abuts Newmont Mining Corporation's Phoenix Project. Newmont
recently commenced construction of a new open pit mine complex at Phoenix,
located approximately 3 kilometres northwest of the Elephant project. Phoenix
currently has 6 million ounces of gold reserves.
On September 7, 2005, Randsburg announced the discovery of polymetallic
gold-silver-copper-lead-zinc mineralization on the property. Based on these
results, the joint venture partners announced on September 26, 2005 that they
initiated a 5000 foot drill program which is intended to increase and verify
the width and strike length (north to south) of the mineralized zone.
Michael Opara, Randsburg President and CEO, stated, "Elephant has
exceeded our earlier expectations. With the current discovery on this portion
of the property, and other targets still to be drilled, Elephant offers an
outstanding risk-reward profile for Randsburg shareholders."
Ken Germundson, Ph.D, Professional Geoscientist is the Company's
Qualified Person on the Elephant Project under the meaning of National
Instrument 43-101. Dr. Germundson has reviewed and approved the contents of
this news release.
ABOUT RANDSBURG INTERNATIONAL GOLD CORPORATION
----------------------------------------------
Randsburg International Gold Corporation is a Canadian exploration
company listed on the TSX Venture Exchange (Symbol TSX-V:RGZ). The Company is
engaged in exploring for diamonds, titanium, iron, precious and base metals,
and platinum group metals (PGMs) in Brazil, Canada and Nevada. The Company has
three active exploration projects:
1. Victory Strike diamond project in Brazil - 85% owned
2. Titan Project (iron-titanium-vanadium) in Northern Ontario
- 100% owned
3. Elephant Gold and Silver Project, Battle Mountain, Nevada
- 50% interest
To find out more about Randsburg International Gold Corporation (TSX-V:
RGZ), visit our website at www.randsburgdiamonds.com
Investor Relations:
For all future Randsburg investor relations needs, investors are asked to
visit the Randsburg IR Hub at http://www.agoracom.com/IR/Randsburg where they
can post questions and receive answers within the same day, or simply review
questions and answers posted by other investors. Alternatively, investors are
able to e-mail all questions and correspondence to RGZ(at)agoracom.com where
they can also request addition to the investor e-mail list to receive all
future press releases and updates in real time.
FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all
statements in this news release - including, without limitation, statements
regarding forecasts, plans and objectives of Randsburg International Gold
Corp. - are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate; actual results and future events could differ materially from those
anticipated in such statements.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Randsburg increases interest in Elephant Project to 50%
Randsburg International Gold Corp on 6ix
Story so far
Earlier from Randsburg International Gold
- Randsburg announces expanded drill program at Elephant
- Randsburg announces non-brokered private placement for $900,000
- Titan Drill Results - Continuous Mineralization of Iron-Titanium-Vanadium In 1,119 Metres of Drill Core from Five New Drill Holes
- Randsburg announces polymetallic gold-silver-copper-lead-zinc discovery at Elephant Project, Battle Mountain, Nevada
- Randsburg Acquires Option On Claim Block in Kirkland Lake Gold Mining Camp Project to be Known as Lightning Project
Later from Randsburg International Gold
- Titan Drill Results - Continuous Mineralization of Iron-Titanium-Vanadium In 927 Metres of Drill Core from Three New Drill Holes - Mineralization Present to a Depth of 535 Metres
- Diamonds Discovered at Lightning Strike Project - Northern Ontario
- Randsburg completes private placement for gross proceeds of $1,154,325- Placement oversubscribed
- Randsburg Announces Titan Drill Results - 589 Metres of Continuous Mineralization of Iron-Titanium-Vanadium From Four New Drill Holes
- Randsburg announces over 70 aeromagnetic targets discovered on Victory Strike project in Brazil - 15 of 30 tested contain microdiamonds - substantially expands size of Victory Strike claim holdings - deep core drilling to commence January 2006
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