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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.
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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. |
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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.
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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.
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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. |
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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.
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