(via Thenewswire.ca)
Vancouver, BC / TNW-ACCESSWIRE / July 31, 2014 / Rift Valley Resources Corp. ("Rift" or the "Company") announces that it has received the assay results of its latest sampling on the high-grade gold-bearing No. 1 Magnetite Vein and related areas, located on the Company's Cat Mountain Property in north-central British Columbia.
A geological and prospecting team spent five days examining the No. 1 and No. 2 Magnetite Veins to better aid in determining the strike length and distribution of high-grade gold within the two principle gold-magnetite vein systems prior to undertaking a detailed and systematic excavator supported trenching program. A surface grab and chip sampling program was conducted over portions of the exposed length of the No. 1 and No. 2 Magnetite Veins as well as other areas of interest under the supervision of Mr. Warren Robb, P.Geo. A combination of 24 grab and chip rock samples was submitted to Acme Labs of Vancouver for 37 element ICP analysis with gold assays determined by fire assay of a 30 gram pulp. The results of this work are tabulated below:
No. 1 Magnetite Vein
|
Sample No.
|
Sample Type
|
Length (m)
|
Au (gpt)
|
Ag (ppb)
|
Cu (ppm)
|
|
96901
|
Chip
|
1.2
|
72.7
|
11445
|
3337
|
|
96902
|
Chip
|
0.90
|
106.1
|
14704
|
3629
|
|
96903 **
|
Chip
|
0.50
|
84.0
|
15544
|
>10000 **
|
|
96904 **
|
Chip
|
0.53
|
55.8
|
9483
|
>10000 **
|
|
96905
|
Chip
|
0.40
|
0.3
|
208
|
3079
|
|
96906
|
Grab
|
|
1.1
|
603
|
3987
|
|
96907
|
Grab
|
|
27.7
|
3832
|
2022
|
|
96908
|
Chip
|
0.40
|
5.2
|
1186
|
3722
|
|
96909
|
Grab
|
|
39.1
|
8059
|
4680
|
|
96910
|
Grab
|
|
278.0
|
22921
|
2651
|
|
96911
|
Grab
|
|
84.4
|
12407
|
2119
|
|
Luan
|
Select Grab
|
|
22.8
|
3309
|
5577
|
No 2 Magnetite Vein:
|
Sample No.
|
Sample Type
|
Length (m)
|
Au (ppm)
|
Ag (ppb)
|
Cu (ppm)
|
|
96916
|
Grab
|
|
6.5
|
2431
|
1642
|
|
96917
|
Grab
|
|
0.1
|
275
|
2130
|
|
96918 *
|
Select Grab
|
|
17.4 Gpt*
|
4167
|
2574
|
|
96919
|
Grab
|
|
3.5
|
1379
|
2256
|
| |
|
|
|
|
|
Limonite Zone and Limonite Vein:
|
Sample No
|
Sample Type
|
Length (m)
|
Au (ppm)
|
Ag (ppb)
|
Cu (ppm)
|
|
96913 **
|
Chip
|
0.7
|
0.5
|
47234
|
>10000 **
|
|
96914 **
|
Chip
|
1.4
|
0.5
|
36985
|
>10000 **
|
|
96915 **
|
Chip
|
0.25
|
0.1
|
9273
|
>10000 **
|
Bet Zone:
|
Sample No
|
Sample Type
|
Length (m)
|
Au (ppm)
|
Ag (ppb)
|
Cu (ppm)
|
|
96920 **
|
Chip
|
5.0
|
0.8
|
21812
|
>10000 **
|
|
96921
|
Grab
|
3.5
|
2.9
|
936
|
1911
|
|
96922 **
|
Grab
|
0.7
|
0.2
|
37485
|
>10000 **
|
|
96923 **
|
Chip
|
Select 0.3
|
0.1
|
6211
|
>10000 **
|
Camp Zone:
|
Sample No
|
Sample Type
|
Length (m)
|
Au (ppm)
|
Ag (ppm)
|
Cu (ppm)
|
|
96924
|
Grab
|
|
0.0
|
147
|
2489
|
Notes for all Tables:
* Sample # 96918: gold results were reported in grams per tonne rather than parts per million.
** Copper: some copper results were reported as greater than 10,000 parts per million (greater than 1% copper). The Company does not know the actual value for those samples as the copper content exceeded the detection limit for the analytical method used. Management is considering the option of a more precise analytical procedure to determine a more accurate result.
The Company is planning a further exploration program of the above veins and surrounding area in late August or early September. Rift Valley has a valid Notice of Work Permit (MX-13-242) to conduct ground magnetometer surveys and excavator trenching expiring Dec. 31, 2015. The Company has submitted an additional Notice of Work to add blasting to the existing permit to allow the collection of fresh sample material from depth and free of potential surface oxidation.
Samples obtained during this program remained under the supervision of Company personnel until delivered to Acme Labs in Vancouver. The samples were then dried, crushed and pulverized, a 15 gram pulp was analyzed for 37 elements by ICP-MS method, a 30 gram pulp was analyzed by fire assay any samples returning greater than 10 ppm gold were then re-analyzed by fire assay with a gravimetric finish to obtain final values. Acme Labs is a fully accredited laboratory and sample duplicates and standards were inserted by Acme Labs and verified by the Qualified Person.
Mr. Warren Robb P.Geo., is the Qualified Person for the Company and approves the contents of this news release.
The Company intends to post a copy of this report on its website at www.riftavalley.ca
ON BEHALF OF THE BOARD
"Craig Robson"
CEO
For more information, please contact:
Craig Robson, CEO
Tel: 778 839 7963
Email: Craig@RiftValley.ca
Cautionary Statements:
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
A Note regarding Forward Looking Information:
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements or information. More particularly and without limitation, this press release contains forward looking statements and information concerning the plans and timing for the Company's drilling program. The Company cautions that there are no assurances or guarantees that the transaction will be completed as proposed or at all.
Although the Company believes that the expectations and assumptions on which such forward looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve and resource estimates; the uncertainty of estimates and projections relating to reserves, resources, production, costs and expenses; health, safety and environmental risks; commodity price and exchange rate fluctuations; marketing and transportation; loss of markets; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions; ability to access sufficient capital from internal and external sources; changes in legislation, including but not limited to tax laws, royalties and environmental regulations, actual production from the acquired assets may be greater or less than estimates; failure to obtain the necessary regulatory approval, stock exchange and other regulatory approvals on the timelines planned. Management has included the above summary of assumptions and risks related to forward looking information provided in this press release in order to provide security holders with a more complete perspective on the Company's future operations and such information may not be appropriate for other purposes.
The forward-looking statements and information contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Copyright (c) 2014 TheNewswire - All rights reserved.