Redtail Commences Drilling on R15 Property; Closes Private Placement
27 9월 2012 - 10:00PM
PR Newswire (Canada)
TSX-V: RTZ /NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ VANCOUVER,
Sept. 27, 2012 /CNW/ - Redtail Metals Corp. (the "Company")
announces that it has commenced drilling on its R15 Property,
recently acquired from Kaska Minerals Corp. The Company has also
closed the non-brokered private placement announced on August 23,
2012 for gross proceeds to the Company of $1,000,000. R15 Project
The R15 Project consists of a Yukon Government Lease of Mining
Rights to the Kaska Minerals Corp oration covering 4,304 hectares
of land set aside for the Ross River Dena Council. Redtail has an
option to acquire a 95% participating interest in the R15 Project
(see RTZ News Release of August 23, 2012), and has also entered
into an Exploration Memorandum of Understanding and Traditional
Knowledge Protocol with the Ross River Dena Council governing the
R15 Project. R15 is located approximately 120 km ESE of Ross River
and approximately 25 km southwest of the Robert Campbell Highway
within the prolific Finlayson Lake District; a crescent-shaped
portion of the Yukon Tanana Terrane (YTT) located in the
south-eastern part of the Yukon Territory that hosts numerous other
volcanic-hosted massive sulphide deposits including the high-grade,
poly-metallic Wolverine deposit, the Kudz Ze Kayah deposit, and the
GP4F deposit. In 2004, Teck Cominco Limited optioned the R15
Property from Kaska Minerals and drilled 7 diamond drill holes on
the property. Four of the drill holes outlined a new discovery by
intersecting a mineralized horizon highlighted by 3.4 m of
15.84% Zn, 7.09% Pb, 0.2% Cu, 68 g/t Ag, 0.268 g/t Au in R04-006.
No follow up drilling has been conducted since Teck's initial
discovery. The R15 Project is adjacent to, and along strike with,
Teck's GP4F project (historical resource estimate of 1.5 million
tonnes of 6.4% Zn, 3.1% Pb, 90 g/t Ag, 2 g/t Au ((1)) and hosts
massive sulphide mineralization that is geologically similar to the
GP4F. The R15 mineralization may represent the continuation of the
GP4F horizon along strike. The R15 mineralization consists of a
1-3m thick horizon of massive sulphide hosted within
Mississippian-aged felsic metavolcanic and metasediments of the
Kudz Ze Kayah Formation within the Grass Lakes Succession. The
horizon consists of massive to brecciated and recrystallized
sphalerite, galena, magnetite, pyrrhotite, and chalcopyrite with
minor silica, plagioclase, + chlorite and biotite gangue. The
immediate footwall consists of variably altered chlorite, biotite,
quartz, muscovite altered crystal tuff with strong sulphide
disseminations and veins. In September 2012 Redtail will complete
an initial drill program focused on expanding the initial discovery
made by Teck in 2004. Private Placement The Company has closed the
non-brokered private placement announced on August 23, 2012. A
total of 10,000,000 units were issued at a price of $0.10 per unit
for gross proceeds to the Company of $1,000,000. Each unit
consists of one common share and one half of one non-transferable
share purchase warrant, each full warrant entitling the holder to
acquire an additional common share at a price of $0.15 until
September 27(th), 2013. Finders' fees totalling $32,150 were paid
on closing. All securities issued pursuant to this private
placement are subject to a trading hold period expiring on January
28(th), 2013. The proceeds from the private placement will be used
for expenditures under the R15 agreements, exploration of the
Company's mineral properties, the final payment for the Company's
Marg Property, and for general working capital purposes. Shares for
Debt The Company also announces that, subject to receipt of the
approval of the TSX Venture Exchange, it has issued 4,800,000
common shares at a deemed price of $0.10 per share in satisfaction
of approximately $480,000 of outstanding indebtedness owed to
certain creditors, pursuant to a debt settlement agreement. The
common shares that will be issued in connection with the debt
settlement agreement are subject to a hold period of four-months
plus one day from the date of issuance. The technical contents of
this release have been reviewed and approved by Gilles Dessureau,
MSc, PGeo. Mr. Dessureau is the Company's Vice-President,
Exploration and a Qualified Person as defined by National
Instrument 43-101. About Redtail Metals Corp. Redtail Metals
specializes in identifying, acquiring and developing quality
precious metal enriched copper, lead and zinc mineral deposits in
Yukon, Canada. The Company currently controls the R15 Project
in the Finlayson Lake District plus the Marg and Clear Lake massive
sulfide deposits, both with 43-101 compliant mineral
resources. Redtail Metals, a member of the Predator Group of
Companies, has a committed management team with extensive
experience in the Yukon. ((1)) MacRobbie, P.A., and Holroyd, R.W.,
2004. 2004 Summary Report, R-15 Option (KZK Project) Canada,
Linecutting, Grid Ground Geophysical Surveys (UTEM/MAG), Diamond
Drilling, and Minor Geological Mapping. Exploration Report for
Kaska Minerals Corporation and Yukon Territorial Government.
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information
contained herein. This press release contains projections and
forward-looking information that involve various risks and
uncertainties regarding future events. Such forward-looking
information can include without limitation statements based on
current expectations involving a number of risks and uncertainties
and are not guarantees of future performance. There are numerous
risks and uncertainties that could cause actual results and Redtail
Metals' plans and objectives to differ materially from those
expressed in the forward-looking information. Actual results and
future events could differ materially from those anticipated in
such information. These and all subsequent written and oral
forward-looking information are based on estimates and opinions of
management on the dates they are made and are expressly qualified
in their entirety by this notice. Except as required by law,
Redtail Metals' assumes no obligation to update forward-looking
information should circumstances or management's estimates or
opinions change. Redtail Metals Corp. CONTACT: Redtail Metals
Corp.Investor Relations(604) 648-4653orBlair M. Shilleto, Chairman
(Europe)41 (0) 79 205 37
26info@predatorgroup.cawww.redtailmetals.com
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