VANCOUVER, BRITISH COLUMBIA–(Marketwired – July 6, 2017) – Revelo Resources Corp. (“Revelo” or the “Company”) (TSX VENTURE:RVL) is pleased to announce that additional rock-chip sampling at its wholly owned Loro project in northern Chile has returned further highly anomalous results, including a grab sample returning more than 950 g/t silver. Revelo recently announced that a Letter of Intent had been signed with Hochschild Mining PLC for an Option, Sale and Royalty Agreement at Loro (see news release dated June 6, 2017).
Additional rock sampling at Loro has been completed with several samples returning highly anomalous results. Highlights include:
- 21 new rock-chip samples from sporadic outcrops ranging from zero to 956 g/t Ag, with an average of 85.5g/t Ag.
- Highly anomalous gold values ranging from zero to 0.84g/t Au. Previously, values up to 2.34g/t Au have been reported (see news release dated April 14, 2016).
- Highly anomalous key pathfinder elements, such as arsenic (low to 1,055 ppm), antimony (low to 5,950 ppm) and mercury (low to 23.7 ppm), indicate the classical upper, relatively un-eroded portions of an epithermal precious-metals bearing system.
A total of 21 grab samples of sub-cropping veins were collected in the latest round of sampling. Gold assays ranged from below detection limit of 0.005 g/t gold (three samples) to 0.838 g/t gold, with an average value of 0.186 g/t gold (eighteen samples). Silver assays ranged from below detection limit of 0.5 g/t silver (one sample) to 956 g/t silver, with an average value of 85.5 g/t silver (twenty samples). Other anomalous elements included arsenic (29 to 1,055 ppm), antimony (8 to 5,950 ppm), mercury (0.01 to 23.7 ppm), lead (14 to 2,580 ppm) and zinc (22 to 2,070 ppm). Copper averaged 190 ppm (nineteen samples), excluding two highly anomalous contiguous samples which returned 0.43 and 3.32 % copper respectively.
Rock samples were analyzed at ALS Chemex Chemical Laboratories for gold (AA24) and for multi-elements following four acid digestion and ICP-AES protocol (ME-ICP61). Mercury was analyzed by Aqua Regia digestion / cold vapour and AAS finish (Hg-CV41).
Tim Beale, President and CEO of Revelo, had the following comments: “Loro continues to reveal yet further evidence of an emerging epithermal precious metals vein system. We are very excited about this project and rank it very highly in terms of its potential and its relative ease of exploration. We will now advance the project with our partner Hochschild, with an aggressive program that should provide results in the short term.”
ABOUT THE LORO PROJECT
Loro consists of approximately 4,500 Ha of 100% owned tenement and it is located along the highly productive “Paleocene” Mineral Belt in northern Chile that contains several important gold, silver and copper mines and projects. Loro lies along trend and just 25 kilometers due south of the multi-million ounce series of precious metals veins of the El Peñon mining camp owned and operated by Yamana Gold, and also lies immediately east of Revelo’s Las Pampas property that also has potential for epithermal precious metals veins.
Current knowledge from mapping and sampling carried out to date suggests that Loro represents a low sulphidation, epithermal precious metals system with geological similarities to the El Peñon District and other deposits and districts along the Paleocene mineral belt. Work to date has shown at least two parallel zones of mineralised veins, approximately 1 km apart and trending north-northeast to south-southwest, and extending over at least 3 km. The veins encountered to date display characteristic textures of productive systems elsewhere in the world, such as Fruta del Norte in Southeastern Ecuador, Hishikari in Japan, and Waihi and Golden Cross in New Zealand. Geochemical signatures suggest the veins have not been deeply eroded, with high arsenic, antimony and mercury geochemistry.
Please visit the Loro project page on Revelo’s website for further information, including project fact sheet and photo gallery.
AGREEMENT WITH HOCHSCHILD AND CURRENT WORK PLANS
As recently announced, Revelo has signed a Letter of Intent with Hochschild Mining PLC (“Hochschild”) allowing Hochschild to earn a 100% interest in the Loro project over 5 years in return for in-ground investments, cash payments to Revelo, and a NSR production royalty in favour of Revelo (see news release dated June 6, 2017).
Revelo will operate the exploration program for Phases 1 and 2 lasting the first 3 years, subject to programs and budgets being agreed with Hochschild. Current plans are to extend the existing, wide-spaced soil grid to the north and south, with extensive detailed infill samples, together with ground magnetics surveys over the entire property, test lines of IP and CSAMT geophysics in selected areas, trenching of anomalous zones, followed by up to 5,000m of drilling within the first 18 months.
ABOUT REVELO
Revelo has consolidated an outstanding portfolio of 25 projects prospective for copper, gold and silver located along proven mineral belts in one of the world’s top mining jurisdictions – Chile. Revelo’s total exposure to mineral tenements in northern Chile is around 300,000 hectares.
Revelo is a Canadian company and is listed on the TSX Venture Exchange (TSX VENTURE:RVL). For more information, please visit Revelo’s website at www.reveloresources.com.
Dr. Demetrius Pohl, PhD., Certified Professional Geoscientist (CPG), an independent consultant, is the Company’s Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosures for Mineral Projects of the Canadian Securities Administrators, and has approved the written disclosure of the technical information contained in this news release.
ON BEHALF OF THE BOARD
Timothy J. Beale, President & CEO
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENT
This news release contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that Revelo expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “indicate” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Revelo believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements.
Chiara Orrigoni
Investor Relations Manager
+1 604 687-5544
[email protected]
www.reveloresources.com
