GOTHENBURG, Sweden, Aug. 15, 2005 (PRIMEZONE) -- Riddarhyttan Resources:
The ongoing extensive drill-programme in Central Suurikuusikko (Finland) continues to give positive results:
Main Deposit
-- 32.6 m core section (true width approx. 18.5 m) grading 6.9 grams
of gold per tonne at a depth of 320 m (drill hole SUBH 05045).
-- 6.3 m core section (true width approx. 3.4 m) grading 7.9 grams
of gold per tonne at a depth of 305 m (drill hole SUBH 05053).
-- 6.0 m core section (true width approx. 3.3 m) grading 5.0 grams of
gold per tonne at a depth of 220 m (drill hole SUBH 05037).
Central Rouravaara Zone
- 13.0 m core section (true width approx. 8.6 m) grading 5.0 grams of gold per tonne at a depth of 180 m (drill hole SUBH 05035).
This document is a translation of the original Press release in Swedish. In case of divergence, the Swedish version shall have precedence.
For figures and tables, please refer to attached complete press release.
EXPLORATION RESULTS
The Main Deposit has been defined as the gold-bearing zones between section 7535800 and section 7537300 (figures 1, 2 and 3). Approximately 80 percent of the estimated gold-bearing resources are located in these zones which -- with minor interruptions -- can be followed approximately 1,500 metres in the strike direction. The Main Deposit is characterized by several gold-bearing zones, the following being the most important: the Western Zone, the Central Zone, the Kuukkeli Zone, the Eastern Zone and the Southern Rouravaara Zone.
Drill hole SUBH 05020 was drilled in section 7537025 to test the mineralized zones in the Main Deposit. The Eastern Zone was intersected at a depth of 400 metres at which it is approx. 0.9 metre wide (core length 2.0 metres) and grades 7.1 grams of gold per tonne (figure 1). Another narrow zone was intersected at 435 metres depth. It is represented by a 2.6 metres core section (true width approx. 1.1 metre) grading 7.8 grams of gold per tonne. The Kuukkeli Zone was intersected at a depth of 445 metres (figure 2). It has a true width of approx. 5.5 metres (core length 12.4 metres) and a gold grade of 4.2 grams per tonne. The Western Zone was intersected at a depth of 500 metres at which it has a true width of approx. 3.0 metres (core length 6.8 metres) and a gold grade of 4.2 grams per tonne (figure 3 and table 1).
Drill hole SUBH 05037 (section 7537025) was drilled to test the Kuukkeli Zone between the holes SUBH 02063 and SUBH 02028 which were drilled previously. It intersected the mineralized zone at a depth of 220 metres at which it is 3.3 metres wide (6.0 metres core section) and has a gold grade of 5.0 grams per tonne (figure 2 and table 1).
Drill hole SUBH 05045 (section 7536745) was drilled to test the mineralized zones in the Main Deposit. At a depth of 160 metres it intersected a new mineralized zone which has not been detected by earlier holes drilled in the section. It has a true width of 2.5 metres (4.9 metres core length) and grades 17.3 grams of gold per tonne. The Eastern Zone and the Kuukkeli Zone touch each other at a depth of approx. 320 metres where they are intersected by the drill hole. Together they have a true width of 18.5 metres (32.6 metres core length) with an average gold grade of 6.9 grams per tonne. The Eastern Zone has a high-grade part represented by a 14.8-metre core section (corresponds to a true width of approx. 8.3 metres) grading 10.0 grams of gold per tonne. The high-grade part of the Kuukkeli Zone is 4.8 metres (8.3 metres core length) grading 5.9 grams of gold per tonne. At a depth of 370 metres the Western Zone was also intersected by the drill hole. At this position however it is narrow (2.1 metres core section) and low-grade (1.1 grams of gold per tonne).
Drill hole SUBH 05053 was mainly drilled to test the Kuukkeli Zone in section 7536985. At a depth of 305 metres the zone was intersected. It is represented by a 6.3-metre core section (corresponding to a true width of 3.4 metres) grading 7.9 grams of gold per tonne (figure 2 and table 1). Also the Western Zone was intersected by the drill hole. At a depth of 355 metres it has a true width of approx. 2.5 metres (4.5 metres core section) grading 2.4 grams of gold per tonne.
The Central Rouravaara Zone constitutes the direct continuation of the Kuukkeli Zone from which point it can be traced approximately 550 metres northwards to the Northern Rouravaara Zone (figure 4).
Drill hole SUBH 04051 (section 7537365) was drilled to test the southern continuation of the Central Rouravaara Zone. At a depth of approx. 300 metres two adjacent mineralized sub-zones were intersected. The western sub-zone is 3.5 metres wide (6.0 metres core length) and has a gold grade of 3.8 grams per tonne (figure 4 and table 1). The Eastern sub-zone is represented by an 18.8 metres core section (true width approx. 11.7 metres) grading 2.4 grams of gold per tonne. The mineralized core section includes a 3.6-metre sub-interval grading 5.6 grams of gold per tonne.
Drill hole SUBH 05027 (section 7537800) was drilled to test the northern continuation of the Central Rouravaara Zone. The mineralized zone was intersected at a depth of 330 metres at which it is 2.3 metres wide (core length 3.4 metres) and grades 1.8 grams of gold per tonne (figure 4 and table 1).
Drill hole SUBH 05035 (section 7537700) was drilled to test the continuation to north of the upper part of the Central Rouravaara Zone. At a depth of 180 metres it intersected the mineralized zone which, at this position, has a width of approx. 8.6 metres (13.0 metres core section) and a gold grade of 5.0 grams per tonne (figure 4). The mineralized core section includes a 7.6-metre sub-interval (corresponds to a true width of 5.0 metres) grading 6.0 grams of gold per tonne (table 1).
Drill hole SUBH 05041 (section 7537550) was drilled to test the extension of the high grade part of the Central Rouravaara Zone towards the surface (figure 4). At a depth of approx. 200 metres it intersected the mineralized zone represented by a 29.9-metre core section (true width approx. 16.2 metres) grading 2.4 grams of gold per tonne (figure 4 and table 1). The mineralized core section includes several sub-intervals containing higher grades: 4.0 meters grading 3.8 grams of gold per tonne, 3.0 metres grading 3.6 grams of gold per tonne, 5.4 metres grading 4.4 grams of gold per tonne and 5.2 metres grading 3.6 grams of gold per tonne.
Drill hole SUBH 05042 was drilled in section 7537285 to test the continuation of the higher grade part of the Central Rouravaara Zone towards south. At a depth of 310 metres it intersected a 2.0-metre wide zone (3.5 metres core section) with a gold grade of 6.7 grams per tonne. Close to this zone another mineralized zone was intersected at a depth of 320 metres. It is represented by a 7.6-metre core section (true width approx. 4.4 metres) grading 4.5 grams of gold per tonne (figure 4 and table 1). Drill hole SUBH 05043 (section 7537700) was drilled to test the northern continuation of the Central Rouravaara Zone. Several narrow mineralized sub-zones occur east of the main zone (table 1). The Central Rouravaara Zone was intersected at a depth of 380 metres at which it is represented by a 12.6-metre core section (corresponds to a true width of approx. 9.0 metres) grading 2.1 grams of gold per tonne (figure 4 table 1). At a depth of approx. 400 metres the drill hole also intersected a mineralized zone which probably constitutes the northern continuation of the Western Zone in the Main Deposit. It has a true width of 7.1 metres (9.5 metres core length) and a gold grade of 2.7 grams per tonne.
Drill hole SUBH 05044 was drilled to test the depth extension of the high grade part of the Central Rouravaara Zone in section 7537605. It intersected the gold-bearing zone at a depth of 480 metres (figure 4) at which it is approx. 2.7 metres wide (4.7 metres core section) and has a gold grade of 6.0 grams per tonne (table 1).
Drill hole SUBH 05049 (section 7537500) was drilled to test the depth extension of the Central Rouravaara Zone. At a depth of 390 metres it intersected the gold-bearing zone represented by a 5.8-metre core section (true width approx. 4.1 metres) grading 4.1 grams of gold per tonne (figure 4 and table 1). The drill hole also intersected another mineralized zone at a depth of 400 metres (3.8 metres core section grading 3.0 grams of gold per tonne).
Drill hole SUBH 05052 was drilled to test the depth extension of the Central Rouravaara Zone in section 7537700. At the depth of approx 460 metres it intersected the zone (figure 4) which at this position is narrow (1.3 m core section) and low-grade (1.8 grams of gold per tonne).
The Northern Rouravaara Zone, which can be followed from section 7537800 to section 7538500 (700 metres), constitutes a direct continuation of the Central Rouravaara Zone (figure 4). It consists of three sub-zones (A, B, and C). The most significant one is the B sub-zone.
Drill hole SUBH 05050 was drilled in section 7538300 to test if the high-grade part of the Northern Roouravaara Zone continues between two earlier drilled holes (SUBH 02065 and SUBH 04047). At a depth of approx. 280 metres the drill hole intersected a 7.0-metre wide zone (11.2-metre core section) grading 2.6 grams of gold per tonne (figure 4 and table 1). The mineralized core section includes two sub-intervals with higher grades: 4.4 metres grading 3.3 grams of gold per tonne and 1.9 m grading 6.6 grams of gold per tonne respectively.
The Rimminvuoma Zone is the northernmost zone in Central Suurikuusikko. It can be followed approximately 1 000 metres towards the north from the Northern Rouravaara Zone.
Drill hole SUBH 05015 (section 7539200) was drilled to test the Rimminvuoma Zone. The drill hole intersected two narrow mineralized zones. The highest grade (4.4 grams of gold per tonne) was found in a 0.5-metre core section representing a mineralized zone intersected at a depth of approx. 80 metres (figure 5 and table 1).
Drill hole SUBH 05019 was drilled to test the northern part of the Rimminvuoma Zone (section 7539350). It intersected a narrow (0.5 m core section) low-grade zone (2.6 grams of gold per tonne) at a depth of approx. 100 metres (figure 5 and table 1).
Drill hole SUBH 05026 (section 7539400) was drilled to test the depth extension of the relatively high-grade northern part of the Rimminvuoma Zone. At a depth of 130 metres it intersected the zone which at this position is approx. 13.0 metres wide but low-grade (19.0 metres core section grading 0.8 grams of gold per tonne). The mineralized core section includes a 5.7-metre sub-interval grading 1.4 grams of gold per tonne (figure 5 and table 1).
Drill hole SUBH 05032 (section 7539450) was drilled to test the northern part of the Rimminvuoma Zone. It intersected a narrow (0.8 m core section) low-grade zone (0.8 grams of gold per tonne) at a depth of approx. 160 metres (figure 5 and table 1).
OTHER INFORMATION
The technical basic data in this press release has been compiled by Lars-Goran Ohlsson and Thomas Lindholm (Riddarhyttan Resources AB) who by SveMin, Foreningen for gruvor, mineral och metallproducenter, are registered as "Qualified Persons".
All analyses have been carried out by GTK's laboratory (accreditation code T025). http://hugin.info/86971/R/1006253/155186.pdf
Riddarhyttan Resources AB is an exploration company with occurrences of precious metals in the Nordic Region of Europe. The primary business idea is, by means of exploration and acquisition acquire new occurrences, which through detailed exploration can be advanced to economic resources. At the Suurikuusikko deposit (Finland), which is Riddarhyttan's most advanced project measured mineral resources are estimated to 2.5 Mt grading 6.2 grams of gold per tonne (0.50 million ounces, indicated mineral resources amount to 9.3 Mt grading 5.1 grams of gold per tonne (1.53 million ounces) and inferred resources are estimated to 12.5 Mt grading 4.2 grams of gold per tonne (1.70 million ounces)(cut off 2 g/t).