Company Reports > Revolution Resources Corporation

 
 

Report Date :  

 November 12, 2011

Toll Free :  

 1.888-681-5672

Symbol :  

 RV.TSX

Telephone :  

 604-681-5672

Contact :  

 Dylan Berg, IR Manager

Facsimile :  

 604-484-7155

URL :  

 www.revolutionresourcescorp.com

eMail :  

 dylan@revolutionrc.com

 

Revolution Resources Corporation (TSX:RV; OTCQX:RVRCF) is a Vancouver-based Canadian junior mining corporation dedicated to building shareholder value through two separate project packages, each located in widely-separate areas associated with strong political stability including the Champion Hills District in North Carolina, USA and a recently acquired group of projects in mineral-rich Mexico.

 

The company's American project at the Champion Hills District is located in the North Carolina portion of the Carolina Slate Belt Deposits, an area which has attracted numerous mining corporations including Romarco Resources, Firebird Resources, Strongbow Exploration and Revolution.

 

Mining exploration in the Carolinas actually pre-dates more famous gold rushes such as California in 1849 and the Klondike in the late 19th Century with activity dating back to the early 1800s.  The region's history includes limited production continuing through the 1930s.  During recent years, mines such as Ridgeway and Haile were developed as geologists discovered similar parallel systems and structural controls to those of the famous Carlin and Battle Mountain Trends in Nevada.

 

Revolution has seven prospect areas at Champion Hills including, from west to east, Silver Hill, Silver Valley Mine, Loflin, Jones-Keystone, Hoover Hill Mine, Jerico Hill and Earnhardt.  Company geologists are currently focusing their efforts on three of these prospects with current drill programs in place at Jerico Hill, Jones-Keystone and Loflin.

 

Jones-Keystone and Loflin are virtually adjacent to one another and Noranda owned them from 1989-92 when mapping, soils analysis, trenching, 23 diamond drill holes over 3,000 meters and various surface geophysics work took place.  However, Noranda ceased work due to low metals prices and the prospects laid idle until Revolution's recent activity which has included drill programs of 27 holes over 4,600 meters at Loflin and 48 holes over 10,300 meters at Jones-Keystone.   Mineralization has been found along a 2-3 kilometer trend and company geologists suggest the potential exists for a multi-million ounce super-pit in the range of four to five million ounces of gold.

 

Assay results at Loflin have included Hole LF10-18 which returned 30.0 meters grading 2.59 g/t Au.  At Jones-Keystone, Hole JK10-06 showed an intersection of 28.0 meters grading 3.01 g/t Au and Hole JK 11-017 showed an intersection of 40.0 meters grading 2.33 g/t Au.

 

Over at Jerico Hill, located approximately 8 km along trend from Jones-Keystone, an initial drill hole, JH 11-001, discovered a new zone of gold and silver mineralization when an intersection across 22.5 meters was encountered at a depth of 28.5 meters.  Assays across the 22.5 meter intersection showed grades averaging 6.10 g/t Au and 258.7 g/t Ag including 7.93 meters averaging 16.06 g/t Au and 698.7 g/t Ag.  Assays from follow-up drilling are currently pending.

 

The company recently entered into a binding Letter of Agreement to acquire up to 100% of Lake Shore's interests in four property groups in Mexico which it had in turn acquired during its acquisition of West Timmins Mining in 2009. 

 

Revolution's earliest priority among the four is the Universo, located in the prolific mining state of San Luis Potosi in the vicinity of three important properties including Goldcorp's Penasquito gold-silver-lead-zinc mine; Goldcorp's Camino Rojo gold-silver discovery; and New Gold's Cerro San Pedro gold-silver mine.  Universo covers 350,000 hectares on trend with major mines and Revolution has already identified 7 recon-generated Au prospects as well as multiple drill-ready targets near historic production.

 

Activity at Universo is advancing aggressively with three drill rigs already in operation as part of a 7,000 meter drill program.  Revolution plans to report results from the program in the first quarter of 2012.

 

The three other properties - La Bufa, Lluvia de Oro and Montana de Oro - are located relatively close to each other in three different northern Mexican states in the general vicinity of Pan American's Alamo Dorado property and Couer D'Alene's Palmajero Mine.  Historic exploration in the region suggests porphyry style alteration at the "Subi" target as well as three additional previously unexplored porphyry centers.

 

Revolution's management team is led by President and CEO Aaron Keay and includes Michael Williams, Chairman; Robert McLeod, VP Exploration; Dr. George Hockwimmer, Director; and Jonathon Richards, CFO.   

 

 

Kinross Gold Corp recently participated for $3 million of a $4.5 million financing, making them a 9% shareholder of Revolution.  The success of this offering provides the company with sufficient cash on hand to finance their exploration programs over the next two years as they recently reported working capital of $10,000,000.  Revolution currently has 66.81 million shares outstanding and 78.66 million on a fully diluted basis.     

 

For further information, access the company’s website at www.revolutionresourcescorp.com or contact Dylan Berg, IR Manager, by phone at (604) 681-5672 or via e-mail at Dylan@revolutionrc.com

 

 

An in-depth study will be completed following a property visit, currently planned for the early part of 2012.

 

 
Revolution Resources Corporation

1500 - 409 Granville Street
Vancouver, BC

Canada  V6C 1T2

Toll Free :

  1.888-681-5672

Telephone :

  604-681-5672

Facsimile :

  604-484-7155
 
 

 

The Melman Report

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