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Randsburg Commences Stage 1 Drill Program on its Flett Nickel-Copper-Cobalt-Platinum Group Metals (PGM)-Titanium Project -
5/21/04
TORONTO, May 21, 2004 (Canada NewsWire via COMTEX) --
Randsburg International Gold Corporation (TSX Venture: RGZ) announced today that it has commenced Stage 1 drilling at its 100%-owned Flett Township nickel-copper-cobalt-platinum group metals (PGM)-titanium project located in Flett and Angus Townships, Ontario. Th
e 100%-owned properties comprise 3000 contiguous hectares (7650 acres) of 13 claims and 17 patents. Flett and Angus Townships are located 120 kilometres northeast of Sudbury, Ontario.
The Company plans a minimum 2000 metre multiple borehole drilling program on several areas of the property.
The Company recently completed a 440 line kilometre helicopter Time Domain Electromagnetic (EM) and Magnetic geophysics survey over the property. The survey delineated two anomalous zones. The first anomalous zone is on the eastern portion of the property and is a 300 metre diameter magnetic and EM anomaly. The second anomalous zone is in the central portion of the claim group and is defined by a coincident magnetic and EM anomaly approximately 2.5 kilometres long and up to 300 metres wide in places. Detailed interpretation and modeling of the anomalies has been completed. Combined with previous ground geophysics and geological work on various portions of the property, ten drill targets have been chosen.
McClintock Project - Stage 3 drilling is continuing at the Company's 100%-owned McClintock nickel-copper-cobalt platinum group metals (PGM) properties located in McClintock Township, Ontario. Eight drill holes have been completed to date as part of this stage.
Drill results will be released as they become available.
The drilling is being conducted under the supervision of Ken Germundson, PHD, Professional Geologist, the Company's Qualified Person under the meaning of National Instrument 43-101.
Brazil Diamond Project - Auger drilling, trenching and sampling is continuing at the Company's 85%-owned Brazil Diamond project located in central Brazil's Goias state. Construction has been completed on a 3.5 ton per hour mini-diamond processing plant and accompanying facilities. The scope of the project has broadened dramatically since work began in October of last year. The Company has increased its total land holdings to 120 square kilometres from 36 square kilometres. The Company is pleased with progress to date and expects results to be released by the end of June.
Randsburg International Gold Corporation is a Canadian exploration company listed on the TSX Venture Exchange (Symbol:RGZ). The Company is engaged in exploration for base metals, Platinum Group Metals (PGMs) and diamonds in Canada and Brazil.
The Company has a strong management team in place with substantial experience in the exploration, discovery and delineation of mines as well as a Diamond Advisory Board comprised of a world-class team of individuals with a proven track record in diamond exploration, mining and marketing to add to the strength of its Board of Directors and management.
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.
VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION: https://www.newswire.ca/en/releases/orgDisplay.cgi?okey=97864
For further information: Randsburg International Gold Corp., Michael Opara, President &CEO, Telephone: (416) 486-4078, Email: info(at)randsburgdiamonds.com, Randsburg website: www.randsburgdiamonds.com
News release via Canada NewsWire, Toronto 416-863-9350
Copyright (C) 2004 CNW, All rights reserved