TORONTO, Nov. 17 /CNW/ - (RMD: TSXV) Richmond Minerals and Fort Chimo Minerals (FORT:CNQ) are pleased to provide an update on the Bondy Gneiss Complex Joint Venture Exploration Project, located 30 km southeast of Mont Laurier, Quebec.
Analytical results have been received for grab samples recently collected from the Bing, Lac Harvey, EM1 and Breccia Trail showings. The Bing showing occurs within a high aeromagnetic and a low aeromagnetic domain traced for a distance of 800 meters. Several outcrops with mineralization similar to the Bing have been found along the length of this magnetic domain. Specifically, the Bing showing mineralization consists of blebs, veins and disseminated chalcopyrite, malachite, pyrite, and magnetite in a coarse-grained clinopyroxene rich calcosilicate rock. Recent stripping and blasting of the Bing showing has exposed the mineralization over a 15 X 15 meter area. Grab samples from the blast area at the Bing showing returned values up to 4% copper and 21 grams per tonne silver, with an average of 3.2% copper and 17 grams per tonne silver.
The Lac Harvey showing is found within an aeromagnetic high located approximately 3 kilometers northeast of the Bing showing. Preliminary results of a gravity survey over this area suggest the presence of an underlying mafic intrusion. Gneisses show evidence for two periods of alteration and are cut by ductile shear zones. Grab samples collected from the Lac Harvey showing assayed up to 0.7% copper and 0.1% zinc. The low concentration of copper at Lac Harvey does not exclude copper (or other metal) enrichment at depth due to the possibility of vertical sulfide zonation, commonly found in VMS and IOCG deposits. Recent stripping and blasting has exposed the Lac Harvey showing over a 15-meter width and a 40-meter length.
The EM1 showing is located 1 kilometer further north of and on strike with the Lac Harvey showing. Mineralization consists of magnetite, and disseminations and blebs of pyrite and pyrrhotite (up to 20% sulphides). Values up to 2% zinc, 26 grams per tonne molybdenum, and 0.1% copper were obtained in grab samples collected at EM1. Samples are also enriched in light rare earth elements (REE). Stripping and blasting has exposed the EM1 showing over a 15-meter width and a 50-meter length.
A series of northeast striking mineralized breccia zones were discovered on the northeast margin of a coincident gravity and aeromagnetic anomaly. These zones are referred to as the Breccia Trail showings and are located approximately 2.5 kilometers north of the EM1 showing. The Breccia Trail showings are found within an area mapped as a possible metamorphosed hydrothermal system. Several different lithological units in the area have been affected by these late crosscutting structures. Breccia/deformation zones are characterized by high biotite concentrations, an increase in magnetite, and the presence of pyrite and chalcopyrite as blebs, disseminations or as veins. Concentrations of up to 0.4% copper and 454 ppm REE were detected in grab samples from the Breccia Trail zone.
Induced polarization geophysical surveys are presently underway over these mineralized areas at the Bondy Gneiss Complex and results are expected before the end of November, 2008. Richmond is in the process of retaining a diamond-drilling contractor and will initiate a drill program at the Bondy Gneiss Complex as soon as possible.
Warren Hawkins, P.Eng in his capacity of Qualified Person under National Instrument 43-101 has reviewed the contents of this news release.
We seek safe harbor.
On Behalf of Richmond Minerals,
(signed)
Birks Bovaird
President
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accepts responsibility for the adequacy or accuracy of this news release
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