VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/09/13 -- Redhawk Resources, Inc. ("Redhawk" or the "Company") (TSX: RDK)(OTCQX: RHWKF)(FRANKFURT: QF7) announced it has completed the consolidation of the Copper Creek mining district by entering into agreements to acquire over 1.4 square miles of additional patented properties contiguous to Copper Creek. Staking has been completed on the Cooper Creek North property expansion bringing the contiguous Copper Creek district land package to approximately 35 square miles. The Company has also successfully completed an independent Quality Assurance and Quality Control ("QAQC") review conducted by Dr. Jeffrey Jaacks, an industry accepted QAQC specialist. Unrelated to the QAQC review, site visits were conducted by Dr. John Proffett and Dr. Stephen Reynolds, two industry recognized experts respectively in "early halo" style copper porphyry deposits and structural geology which will add to the ever increasing geologic knowledge base at Copper Creek.
Redhawk has entered into an agreement with an arm's length third party to acquire a 1.2 square mile (779 acre) parcel of land contiguous to the Company's Copper Creek property. This property is one of the few remaining private parcels of land in the immediate vicinity of Copper Creek. Redhawk has also entered into an agreement with arm's length third parties to acquire a further 135 acre parcel of land that consists of seven patented mining claims and one additional patented claim of 20.22 acres for a total of 155.22 acres. These blocks are located within the boundaries of the original seven square mile Copper Creek claim group. Staking has now been completed on the Northwest trending expansion of property known as Copper Creek North. This finalizes the staking activities that started in early 2011.
Joe Sandberg, President and CEO commented: "Redhawk has been committed to consolidating the Copper Creek mining district and now controls nearly 35 square miles (approximately 22,400 acres) of contiguous land surrounding the Cooper Creek project. The addition of the 779 acre block of private land may be useful for future mining operations as private lands tend to have fewer permitting requirements. The additional 155.22 acres of properties acquired were the only remaining claims within the original Copper Creek property boundary that were not controlled by the Company. These claims are patented and subject to additional exploration may potentially contain mineral resources. The Company now controls approximately 1,890 acres of patented or private land at the Copper Creek property. The Copper Creek mineralization trends to the Northwest and prompted the Company in early 2011 to commence staking what are considered prospective properties on that trend. The staking program has resulted in a total of almost 27 square miles of contiguous claims being acquired as part of the Copper Creek North expansion for a total land package of approximately 35 square miles. This marks the successful completion of the consolidation of the mining district."
QAQC Review and Expert Site Visits
Redhawk commissioned an independent QAQC review by industry recognized expert Dr. Jeffrey Jaacks. Dr. Jaacks examined all QAQC controls and procedures to ensure adherence to best practices and the Company passed the review without any issue. Copper Creek was also visited by Dr. John Proffett and by Dr. Stephen Reynolds in late 2012. Dr. Proffett is accepted as an expert on "early halo" deposits which tend to be large copper porphyry systems. In addition to Cooper Creek, other "early halo" deposits include Butte, Chuquicamata, and Los Pelambres. Concurrently the Company engaged Dr. Reynolds to assist with advanced structural geologic modeling on Copper Creek. Dr. Reynolds is an experienced and respected structural geologist.
Stephen Barley, Executive Chairman of Redhawk stated: "The QAQC review was a voluntary and independent confirmation of the application of best practices by our operational team and serves to further increase investor confidence in the quality and accuracy of our resource estimates. The identification of Cooper Creek as an "early halo" deposit provided the Company with an important breakthrough in understanding and directing exploration at Copper Creek. Redhawk has an outstanding team of geologists with over 200 years of combined experience. The insights and contributions to that knowledge base by Dr. Proffett and Dr. Reynolds will enhance the geologic model utilized to direct the future expansion of this large copper porphyry resource."
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 thirty-five 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.
Redhawk Resources, Inc.
J. Stephen Barley
Most Popular Stories
- 15 Myths That Could Ruin Your Hispanic Ad Campaign
- Bitcoin Clones Lurch Onto Financial Scene
- General Motors Names Mary Barra as First Female CEO
- Clinton to Keynote Annual Simmons Leadership Conference
- AIG to Create 230 Jobs in Charlotte
- How Bitcoin and Other Cryptocurrencies Work
- Selena Gomez, Shakira Among Top Hispanic Searches
- Californians Want to Legalize Marijuana
- Pacific Trade Pact Delay Hinders U.S. Pivot to Asia
- PhD Project Grooms Business Profs