NEWS out !!!Rio Alto Drills 173 Metres of 1.53 Grams of Gold Per Tonne
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 26, 2011) -Rio Alto Mining Limited ("Rio Alto" or the "Company") (TSX VENTURE:RIO)(OTCQX:RIOAF)(BVLAC:RIO)(DBFrankfurt:MS2)is pleased to report assay results from 14 reverse circulation drillholes within and around the Calaorco Pit at the La Arena Gold Oxide Mine("Oxide Mine") located in Peru.
Significant intercepts were:
|
Intercept |
Gold Grade |
| Hole |
(mts) |
(g/t) |
| CA-R11-004 |
282 |
0.61 |
| CA-R11-006 |
208 |
1.20 |
| CA-R11-007 |
173 |
1.53 |
The objectives of the 2011 oxide drilling program atCalaorco are; (a) to move material in the resource model from inferredto indicated, (b) fill gaps in the resource model in and around thecurrent Calaorco pit design, (c) test a new structural interpretationthat has been developed by Rio Alto´s geologists from there-interpretation of previous core drilling; and (d) identify themineral continuity below the current pit design. The current plan is todrill 11,700 m of RC holes comprising 41 holes, each of approximately300 m in length. Mineralization above 0.2 grams per tonne gold cut-offwas encountered in 13 of the 14 holes drilled to date. Based on theresults of the first 14 RC holes, the Company has improved its knowledgeof the geological model and is re-orienting the remaining holes in thecurrent program.
The results of the first 3,755 m of drilling within the oxide breccia sandstone are outlined below:
Drill Results
References to "Pit Location" in the following tablerefer to intercepts within ("Inside") the Calaorco Oxide Pit or drillhole intercepts that extended below ("Below") the Calaorco Oxide Pit. Amap illustrating drill hole locations and selected drill hole crosssections related to this press release may be accessed by following thislink: https://media3.marketwire.com/docs/RIO0426.pdf
|
|
|
|
|
|
Pit |
| Hole ID |
From |
To |
Length |
Au g/t |
Ag g/t |
Location |
|
|
|
|
|
|
|
| RC1 |
22 |
104 |
82 |
0.53 |
2.95 |
Inside |
| RC2 |
Below Cut Off Grade |
| RC3 |
20 |
50 |
30 |
0.72 |
0.65 |
Inside |
| RC4 |
16 |
298 |
282 |
0.61 |
0.41 |
Below |
|
Including |
54 |
88 |
34 |
2.89 |
1.69 |
Inside |
| RC5 |
66 |
216 |
150 |
0.29 |
0.33 |
Inside |
| RC6 |
6 |
214 |
208 |
1.20 |
0.35 |
Inside |
|
Including |
32 |
96 |
64 |
2.22 |
0.61 |
Inside |
| RC6 |
292 |
300 |
8 |
0.55 |
0.35 |
Below |
| RC7 |
74 |
247 |
173 |
1.53 |
0.27 |
Inside |
|
Including |
110 |
132 |
22 |
6.43 |
0.37 |
Inside |
|
Including |
112 |
118 |
6 |
13.28 |
0.63 |
Inside |
| RC8 |
0 |
24 |
24 |
0.81 |
0.28 |
Inside |
| RC8 |
126 |
230 |
104 |
0.27 |
0.27 |
Below |
| RC8 |
282 |
324 |
42 |
0.21 |
0.22 |
Below |
|
Including |
320 |
324 |
4 |
0.92 |
0.20 |
Below |
| RC9 |
138 |
200 |
62 |
0.45 |
0.29 |
Inside |
| RC9 |
270 |
306 |
36 |
3.38 |
0.32 |
Below |
|
Including |
278 |
302 |
24 |
4.92 |
0.34 |
Below |
|
Including |
290 |
294 |
4 |
21.19 |
0.45 |
Below |
| RC10 |
98 |
212 |
114 |
0.42 |
0.45 |
Inside |
| RC10 |
234 |
298 |
64 |
0.98 |
0.48 |
Below |
|
Including |
256 |
270 |
14 |
2.40 |
0.43 |
Below |
| RC11 |
112 |
184 |
72 |
0.25 |
0.29 |
Inside |
| RC11 |
232 |
306 |
74 |
0.33 |
0.21 |
Below |
| RC12 |
28 |
68 |
40 |
0.29 |
0.23 |
Inside |
| RC12 |
156 |
204 |
48 |
0.11 |
0.20 |
Inside |
| RC12 |
234 |
298 |
64 |
0.38 |
0.25 |
Below |
| RC13 |
0 |
48 |
48 |
0.95 |
1.10 |
Inside |
| RC13 |
66 |
190 |
124 |
0.30 |
0.28 |
Below |
| RC14 |
16 |
148 |
132 |
0.77 |
0.27 |
Inside |
There are two RC drill rigs working at La Arena and athird RC drill rig is scheduled to arrive on site in June. Also inJune, four diamond drill rigs are scheduled to arrive on site. In March,Rio Alto designed an exploration program for its La Arena Project thatincluded 40,000m of RC drilling and 10,000m of core drilling. Based onthe early positive results from the drill holes at Calaorco, thepreviously announced results from the San Andres RC drilling (see RioAlto press release issued March 14, 2011) and surface sampling in anunexplored area to the north of the Calaorco Pit, the Company is in theprocess of revising its 2011 drilling and exploration program. Once arevised program has been approved the Company will provide an update.
Quality Control and Assurance
Sampling of the reverse circulation drilling andsample preparation were performed by Rio Alto personnel and were carriedout under strict protocols recommended in the NI 43-101 TechnicalReport dated July 31, 2010 prepared by Coffey Mining Pty Ltd for theCompany. Samples were taken every 2m and split in half to yield seven toten kilogram samples. Drill sample recovery was generally in excess of90 %. Rio Alto has a rigorous QA/QC program to control thechain-of-custody of samples and the insertion of blanks, duplicates, andcertified reference standards in each batch of samples. Samples wereshipped to CIMM-Peru in Lima where they were dried, crushed, pulverized,and assayed. All gold assays were obtained by standard 50g fireassaying with AA finish. All silver assays reported in the press releasewere obtained by Aqua-Regia dissolution followed by ICP measurement.CIMM-Peru is an ISO 9001:2000 certified laboratory.
Enrique Garay, M Sc. P. Geo. (AIG Member), VicePresident Geology of Rio Alto is the Qualified Person responsible forthe management of the exploration program and disclosure of the drillresults as defined by National Instrument 43-101. Mr. Ian Dreyer,B.App.Sc (AUSIMM Member), of Coffey Mining Pty Ltd, a Qualified Personas defined by National Instrument 43-101, designed and reviewed theQuality Control and Assurance program carried out by the Company withrespect to these drill results. Each of Mr. Garay and Mr. Dreyer hasread and approved the scientific and technical information in this newsrelease.
This news release contains certain forward-lookinginformation including statements concerning the expected timing for thearrival of drills at La Arena and the announcement of a revisedexploration program. All statements included herein, other thanstatements of historical fact, are forward-looking information and suchinformation involves various risks and uncertainties. There can be noassurance that such information will prove to be accurate, and actualresults and future events could differ materially from those anticipatedin such information. A description of assumptions used to develop suchforward-looking information and a description of risk factors that maycause actual results to differ materially from forward-lookinginformation can be found in Rio Alto's disclosure documents on the SEDARwebsite at www.sedar.com. Rio Alto does not undertake to update any forward-looking information except in accordance with applicable securities laws.
To learn more about Rio Alto Mining Limited, please visit: www.rioaltomining.com or Rio Alto's SEDAR profile at www.sedar.com.
ON BEHALF OF THE BOARD OF RIO ALTO MINING LIMITED
Alex Black, President & COO
FOR FURTHER INFORMATION PLEASE CONTACT:
Alex Black
Rio Alto Mining Limited
President & COO
+51 1 625 9900
+51 99279 4655 (FAX)
alexb@rioaltomining.com
OR
Alejandra Gomez
Rio Alto Mining Limited
Investor Relations
+1 604 628 1401
+1 866 393 4493 (FAX)
alejandrag@rioaltomining.com
www.rioaltomining.com
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts the responsibility for the adequacy oraccuracy of this release.