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Canadian company Red Lake Exploration provides mining exploration and development. Previously the company was involved in Canada’s Red Lake mining region, where they explored for mining viability. Since then they have refocused their efforts on Chile’s III region. Chile’s III region is well known for copper, iron, and gold mines.
The company first identifies viable mining land, like the three sites in Chile’s III region. After the sites are identified, they then put options to buy contracts on the properties in accordance with all local laws. They currently have contracts on three sites: Farellon, Camila, and Santa Rosa. Two of the properties are in the advanced stages of development and one is in the early stages. When the option contract is in place, they recruit expert scientists to document and report on the potential of the mining site. Once the mine is identified as profitable, they proceed to developing the mining site and nearby roads, essentially bringing the mines to the operational level.
President John Di Cicco, who was present at the inception of the company, heads Red Lake Exploration. He has extensive contacts within the mining industry and over 10 years of experience. Other management include Catlin Jeffs, and Michael Thompson, both geologists. Mr. Thompson is experienced in management of large mining exploration projects and Mrs. Catlin specializes in GIS technology and 3D mapping. This experienced management team gives the company a huge edge in identifying potentially profitable mining operations.
The management team believes that Chile has all the right ingredients for mining exploration. It is a stable country with a well-educated population and little to no competition. Red Lake believes, with today’s technologies and mining methods, they have the potential to discover major ICOG deposits of copper and gold.
Red Lake Exploration Inc. (RLKX.OB) Begins Exploration of its Chilean Property
Red Lake Exploration Inc. (OTCBB: RLKX) recently announced it has begun exploring the Camila Breccia, its copper-gold project in Chile. The project lies in the Candelaria iron-oxide-copper-gold (IOCG) belt of Chile’s coastal cordillera, and was last explored in the late 1990s.
“This is a very exciting point for Red Lake. It is the first step in our plan to find resources in the under-explored Candelaria IOCG belt,” Red Lake Exploration President John Di Cicco stated in the press release.
Red Lake Exploration’s exploring program consists of six drillholes totaling an estimated 1,000 meters of diamond drilling on two identified mineralized structures, the El Zorro vein and the Camila Breccia. Grab samples from the Camila Breccia have returned 1.15 percent Cu. Previous work on the Camila Breccia includes a property-wide geological mapping and sampling program as well as a geophysics IP (induced polarization) survey.
Another target on the El Zorro Vein is expected to intercept depth and strike extents of the known mineralized structure. Grab samples on the El Zorro have returned gold results up to 7.5 g/t Au.
Red Lake Exploration is engaged in the acquisition, exploration and development of natural resource properties in Chile. The Camila property is one of several properties Red Lake has acquired in the region.
Chile’s Booming Copper Production Entices Red Lake Exploration Inc. (RLKX.OB)
Chile’s copper mines provide more than 40 percent of the world’s copper output, according to the U.S. Department of the Interior. Chile’s mining industry employs about 6 percent of the country’s workforce, and as more mines come into operation, the demand for output is expected to rise.
Red Lake Exploration Inc. (OTCBB: RLKX) engages in the acquisition, exploration and development of mineral properties in Chile. Headquartered in Richmond, Canada, the company focuses on its primary project, the Farellon property, in the Candalaria Iro Oxide Copper Gold Belt.
Red Lake is reviewing options to purchase Santa Rosa and Camila Mineral Properties, both of which have identified drill targets and development stage drilling plans. The properties are located in III Region, Chile. According to geological interpretations, the properties are expected to hold significant copper and gold resources.
Last month the company released information regarding its exploration program in the Camila Breccia. The program consists of six drill holes totaling 1,000 meters of diamond drilling on two previously mineralized structures.
Chile’s copper production has contributed to the country’s status as one of the world’s fastest growing economies, accounting for 8.5 percent of the country’s GDP and 47 percent of its exports. Red Lake has positioned itself to take part in the growing industry with its exploration programs.
Red Lake Exploration (RLKX.OB) Hoping to Strike it Rich in the High Priced Commodities Market
Red Lake Exploration is a North American-based mineral company headquartered in Richmond, Canada, that focuses on purchasing, exploring and developing mineral rich properties in Chile. The company currently has three simultaneous projects going on in the copper, gold and silver-rich areas of Chile’s III region. These historically successful mines have been revisited because of new exploration techniques and mechanized mining equipment that has been developed since the last exploration projects took place.
The first project is the Camila Breccia. This is the company’s copper-gold project in the Candelaria iron-oxide-copper-gold (IOCG) belt of Chile’s coastal cordillera. Exploration of the property began on March 18, 2008, and has returned some impressive early results. The exploration consisted of roughly 1,000 meters of diamond drilling which returned gold and copper grab samples containing higher than expected levels of the minerals.
The company’s second project is the Santa Rosa copper gold project. This property is another copper-gold project and is also located in the Candelaria IOCG Belt, just a 45 minute drive north northwest from Vallenar City. This project is classified in the advanced exploration stage.
Finally, the company’s third project is the Farellon property, also located in the Candelaria IOCG Belt. Another company, Latitude Resources, reported in May 2006 an inferred resource of 11.2 MT at 0.64% Cu and 0.14 g/T Au in oxides and 15.82 MT at 1.12% Cu and 0.31g/T Au in sulphides at their Filipina Grande Project.
The potential for large gold, copper and silver reserves at these three locations is undeniably present. Red Lake Exploration’s management team brings nearly 30 years of experience to the projects. Members of the team have expertise in fields ranging from geology and base metal exploration to finance. With a huge potential for results, and most commodities, including precious metals, at record high levels, Red Lakes Exploration is on target to strike it rich.
$0.32 (03/28/08)
