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Thu, March 15, 2012

Redhawk Resources Announces Results of Continuing 2011 Resource Expansion and Upgrade Drilling at Copper Creek Project


Published on 2012-03-15 04:36:23 - Market Wire
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March 15, 2012 07:30 ET

Redhawk Resources Announces Results of Continuing 2011 Resource Expansion and Upgrade Drilling at Copper Creek Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 15, 2012) - Redhawk Resources, Inc. (TSX:RDK)(OTCQX:RHWKF)(FRANKFURT:QF7) -

  • Additional drilling encounters thick mineralized zones including:
    • 1520 ft. (463m) 0.32%Cu, 0.004% Mo, 0.78 ppm Ag
    • 1301 ft. (396.5m) 0.45% Cu, 0.008% Mo, 0.75 ppm Ag
    • 606 ft. (185m) 0.42% Cu, 0.021% Mo, 0.70 ppm Ag
    • 998 ft. (304m) 0.31% Cu, 0.005% Mo, 1.30 ppm Ag
  • Significant high grade zones including:
    • 126 ft. (38.4m) 0.75% Cu. 0.010% Mo, 1.22 ppm Ag
    • 270 ft. (82.3m) 0.62% Cu, 0.003% Mo, 0.96 ppm Ag
    • 110 ft. (33.5m) 0.78% Cu, 0.028% Mo, 1.17 ppm Ag
    • 112 ft. (34.1m) 0.73% Cu, 0.002% Mo, 1.93 ppm Ag
    • 224 ft. (68.3m) 0.58% Cu, 0.027% Mo, 0.99 ppm Ag
    • 25 ft. (7.6m) 2.41% Cu, 0.207% Mo, 27.99 ppm Ag
    • 125 ft. (38.1m) 0.87% Cu, 0.050% Mo, 7.79 ppm Ag
  • Infill drilling continues to confirm grade and continuity of porphyry zones
  • Assay results pending on a further four drill holes
  • Two core drills continue working on completion of 2011 drill program

Redhawk Resources, Inc. ("Redhawk" or the "Company") is pleased to announce the results of six additional drill holes of the 2011 resource expansion and definition program. (See attached map for drill hole locations: [ http://media3.marketwire.com/docs/rdk-0315-map1.pdf ].)

2011 Resource Expansion and Upgrade Drill Program

The 2011 drill program is focused on increasing the connection and consequent resource expansion between the Keel and American Eagle (AE) porphyry areas and infill drilling to move a considerable portion of the AE resource and more of the Keel resource into the Measured and Indicated categories for a Pre-Feasibility Study that is currently underway.

Since the results from earlier drilling of the 2011 program (see prior news releases dated June 1, 2011, September 12, 2011, November 29, 2011, and January 24, 2012), assay results for six additional core holes have now been received for:

  1. RAE-11-057 drilled S3E at -82.5 degrees to total depth 3727 feet (1136m)
  2. RAE-11-058 drilled N30W at -85 degrees to total depth 4048 feet (1234m)
  3. RAE-11-059 drilled S78E at -84 degrees to total depth 4387 feet (1337m)
  4. RAE-11-062 drilled vertical to a total depth of 3887 feet (1185m)
  5. RMK-11-065 drilled N27E at -88 degrees to a total depth of 4217 feet (1285m), and
  6. RMK-11-067 drilled S58E at -84 degrees to total depth 4162 feet (1269m)

Significant intervals are shown below. All of the holes are infill/resource upgrade holes in the AE and Keel resource areas. Holes RAE-11-058 and RAE-11-059 are also an oriented core geotech hole.

Assay results are in progress on several additional completed holes. In addition, two core drill holes are in progress and four more drill holes remain to be completed under the 2011 plan. Results will be reported when assays are finalized.

RAE-11-057
Start ftend ftthickness ftCu%Mo%Ag ppm
1440144770.600.0021.42
1506151260.720.0021.69
15271549220.700.0022.79
15661608420.740.0032.27
1664318415200.320.0040.78
Including
175418791250.430.0021.34
19281964360.630.0021.39
206721931260.750.0101.22
22172237200.550.0020.62
25702595250.380.0020.42
26232652290.450.0020.45
26872717310.460.0040.49
328434041200.200.0130.47
35043534300.170.0190.69
35843624400.180.0100.55
36873717300.180.0130.71
RAE-11-058
Start ftend ftthickness ftCu%Mo%Ag ppm
1332471140.250.0010.64
4666772110.360.0010.74
Including
546.556720.50.780.0011.28
8379481110.240.0010.77
20232058350.330.0051.06
22182277.559.50.340.0060.95
Including
22642277.513.50.75nil1.38
231826283100.330.0030.59
Including
24482508600.640.0030.88
265829783200.330.0030.56
Including
26582698400.420.0010.59
28082854460.580.0040.62
30583155970.270.0020.37
3187.53328140.50.310.0070.44
Including
32283254260.430.0100.54
32723308360.370.0120.54
3386.53528141.50.210.0130.46
36783748700.280.0120.64
3776.5384770.50.190.0080.43
39844034.550.50.260.0040.76
RAE-11-059
Start ftend ftthickness ftCu%Mo%Ag ppm
110205950.340.0011.07
3564601040.310.0011.67
550580300.600.0011.74
620670500.370.0041.26
950960100.910.0064.57
99511952000.230.0010.65
18151885700.240.0010.88
20252050250.590.0022.65
2119342013010.450.0080.75
Including
21192185660.540.0031.07
22082233250.79nil0.95
241026802700.620.0030.96
29403000600.600.0161.0
316032701100.780.0281.17
342039905700.200.0120.46
Including
39303950200.280.0430.51
39703990200.220.0370.60
40304060300.120.0220.33
42204387td1670.160.0200.66
RAE-11-062
Start ftend ftthickness ftCu%Mo%Ag ppm
10001040400.33nil0.93
10601140800.290.0010.57
12001220201.400.0012.82
16571750930.320.0040.85
24252446210.310.0110.86
246626101440.270.0030.83
Including
25302550200.570.0032.02
265030133630.430.0041.20
Including
267327851120.730.0021.93
30643079150.290.0010.51
310937156060.420.0210.70
Including
33343371370.590.0290.79
347136952240.580.0270.99
38153875600.220.0060.32
RMK-11-065
Start ftend ftthickness ftCu%Mo%Ag ppm
19481988400.230.0050.40
2012.5204027.50.200.0030.37
22552295.340.30.190.0040.32
254735459980.310.0051.30
Including
25572944.5387.50.400.0041.88
35173537200.280.0831.67
37573807500.200.0650.97
4046.64095.648.90.240.0131.21
41464207610.200.0231.02
RMK-11-067
Start ftend ftthickness ftCu%Mo%Ag ppm
582604220.340.0131.48
1038.5106627.50.240.0050.77
11061158520.330.0011.29
12561290340.200.0091.12
16201637170.260.0641.22
18071847400.140.0500.39
19271947200.230.0220.60
232125222010.300.0020.41
Including
24522492400.490.0030.68
259533687730.350.0182.39
Including
26432660170.720.0212.59
26952722270.430.0042.69
27642853890.440.0193.12
29082939310.550.0142.75
31043129252.410.20727.99
33873973.5586.50.330.0202.50
Including
361437391250.870.0507.79
40204041210.150.0290.80
True thicknesses have not been determined.
(ft = feet,% = percentage, ppm = parts per million, na = not assayed, Cu = copper, Mo = molybdenum, Ag = silver, nil = below detection)

The results from the infill and expansion drill holes reported above and in previous releases continue to demonstrate the continuity of mineralization between the Keel and AE and between the wider spaced historical drill holes. The thick continuous intercepts of significant mineralization are very encouraging and support Redhawk's concept of a large porphyry copper district at Copper Creek.

R. Joe Sandberg, Redhawk President and CEO, stated: "Redhawk's 2011 resource upgrade and expansion drilling program continues to produce very encouraging results. The drilling results through the first week of March have been sent to Independent Mining Consultants (IMC) in Tucson, AZ and will be the basis of a new resource update scheduled for completion before the end of April. The updated resource from IMC plus the additional permitting, hydrology, metallurgical testing, geotechnical work, and conceptual mine planning that are in progress will be the basis for a Pre-Feasibility Study targeted for completion in the fall of 2012. We believe the outcome of these efforts will continue to move Copper Creek closer to a production decision."

R. Joe Sandberg, CPG, Redhawk President, CEO and a Qualified Person under the meaning of NI 43-101, is responsible for the technical content of this news release.

All core samples are picked up on site by Redhawk geologists or delivered by the drillers to Redhawk personnel. All samples are delivered by Redhawk personnel to ALS Laboratory Group ISO 9001:2000 & ISO 17025 in Elko, NV or Reno, NV for assay or to Jacobs Assay Office Registered Assayers in Tucson, AZ for sample preparation to pulps and shipped by Jacobs using UPS to ALS in Reno, NV. Check assay standards are submitted with each assay job, and reviewed for accuracy. Check assaying is being performed by Inspectorate and KD Engineering/Metcon.

About Redhawk

Redhawk is a Canadian-based resource exploration and development company with primary focus on the accelerated development of its advanced stage Copper Creek copper-molybdenum project in San Manuel, Arizona. The 100% owned Copper Creek property consists of approximately twenty-eight square miles of contiguous patented and unpatented mining claims and state prospecting permits, located about 70 miles northeast of Tucson, Arizona and about 15 miles east of San Manuel. The property is in the prolific southwest US porphyry copper belt at the projected intersection of a major northwest belt of porphyry copper deposits or mines (Ray, Miami/Globe, Superior/Resolution, Johnson Camp) and a major east-northeast belt of porphyry deposits (San Manuel/Kalamazoo, Silver Bell, Lakeshore, Safford, Morenci). The property is within sight of the former BHP Kalamazoo/San Manuel copper smelter and mine and within 30 miles of an existing operating copper mill and smelter. The area is a mining friendly and politically secure location with excellent and readily accessible infrastructure including power, rail, water, roads and qualified consultants.

ON BEHALF OF THE BOARD

R. Joe Sandberg, President & CEO

The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, Redhawk does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires Redhawk to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.

Neither TSX Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.



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