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Rio Cristal Resources Corporation (TSXV:RCZ) provided updates on the Bongara zinc property and La Cumbre copper project.
Rio Cristal Resources Corporation (TSXV:RCZ) provided updates on the Bongara zinc property and La Cumbre copper project.
As quoted in the press release:
The Company has completed an initial drilling program of approximately 1,000 meters at its La Cumbre copper oxide project near Chala, Peru. Despite encouraging preliminary surface indications of copper mineralization, drilling results were low grade and the project does not meet the Company’s investment requirements. Consequently the La Cumbre option contract has been cancelled. The Company believes it is better to use its resources to continue the exploration of its Bongará Property and seek other more promising exploration projects in Peru.
“During 2008 and 2011 we drilled at total of 7,722 meters at Cristal and Charlita and in 2011 we drilled 1,417 meters at San Jose which is 12 kilometers south of Cristal. Results at Cristal were excellent and led to our being able to announce our first Measured and Indicated Resource. At Charlita we intersected zinc mineralization in six of fifteen holes. At San Jose, we drilled two holes and extensive zinc anomalies were intersected.”
Rio Cristal President & CEO, Thomas Findley, said:
“I am pleased to report that we filed a NI 43-101 Technical Report today. The report includes our first resource estimate at the Cristal Project of 1.27 million tonnes of zinc oxides grading 7.5% and equaling over 211 million pounds of zinc. We have only drilled 3% of the block of concessions that we control and we believe that we have significant opportunities to both expand the zinc oxide resource at the Cristal and Charlita Projects and to discover high grade zinc sulfides at our San Jose and Florida Projects.”
Click here to read the Rio Cristal Resources (TSXV:RCZ) press release
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