AT LASSSSSTTTTT PR &goooooood!!Regent Ventures Ltd (C:REV)
Shares Issued 76,152,255
Last Close 6/3/2010
.07
Thursday June 03 2010 - News Release
Mr. Richard Wilson reports
RED MOUNTAI N 2010 WORK PROGRAM COMMENCES
Regent Ventures Ltd.'s 2010 work program has commenced on its Red Mountain property in the Yukon Territory. As mentioned in its news release in Stockwatch of March 26, 2010, the Company has received a report, including a recommended work program, based on a comprehensive review and interpretation of the results of the Company's helicopter-borne VTEM data and other results from earlier programs on the Property. The report, prepared by FPC Geoconsulting Inc., recommends a program of line-cutting, ground geophysics, prospecting, mapping, sampling and logging core from previous programs, to be followed by a 3,000 metre diamond drilling program. The work program will be carried out in conjunction with staff from Totem Pole Geological Consulting Ltd., a company wholly-owned by Fabrizio Colombo, PhD., P.Geo., the Company's independent geological consultant, who will supervise the program.
The Company already holds the Class III land use permit issued by the Yukon Mineral Resources Branch necessary to undertake the planned program and crews are on site at Red Mountain and have begun the surface work. The Company has also entered into a contract with Kluane Drilling Ltd. for the 3,000 metre drilling program, with drilling expected to commence in the first week of July.
The Red Mountain Property consists of 341 mineral claims situated in the Mayo and Dawson Mining Districts, is located about 135km east of Dawson City, Yukon, and lies within the Tintina Gold Belt, extending across central Yukon Territory and the state of Alaska, which contains several large producing and developing properties, and a host of evolving gold prospects. Intense exploration in the Yukon region has been spurred by activity of Underworld Resources, recently acquired by Kinross, south of Dawson City the Eagle Gold Project, owned by Victoria Gold, 29 km east of Red Mountain and Atac's discovery north-east of Keno Hill, amongst others. Activity has also been intensified by the recent delineation of 9.3 million ounces of indicated gold resource, at 0.5 g/t Au cutoff, by International Tower Hill Mines Ltd. at their Livengood Gold Project, some fifty miles north of Fairbanks Alaska, and the continued production from Kinross' Fort Knox open-pit mine at Fairbanks, averaging 0.45 g/t at a cash cost of $435 to $450 per gold equivalent ounce. Both projects are within the Tintina Gold Belt. Road improvements during 2009 will assist in the efficient operation and service of the proposed drill program at Red Mountain.