March 5, 2012, Toronto, Ontario, Canada – Rio Silver Inc. (the “Company”) (TSX.V: RYO) is pleased to announce the final results from the 2011 soil and rock geochemistry program at the KAN project located in the northern part of the Labrador Trough, Nunavik Territory, Québec. The KAN project represents an emerging exploration district covering 214 square kilometres or 21,470 hectares of highly prospective stratigraphy over 35 kilometres of strike length.
The VTEM survey clearly mapped the iron formations at the KAN project and the correlation between the gold mineralization and the host iron formation is evident. (see Figures 1 & 2) A total of 1434 soil samples were analysed and 52 of the samples returned results > 75 ppb Au (highest threshold). The intensity of the gold in soil anomalies directly over the iron formation combined with the successful channel sampling program has been extremely beneficial in prioritizing the gold targets for the proposed 2012 drill program.
Mineralization at KAN is similar to the Meliadine gold project in Nunavut, with gold being associated with intense quartz carbonate veining and stockwork within structurally complicated and folded iron formation. (see Figure 3) The 2011 field season included 1434 soil and 492 rock samples collected over the Ferricrete and KAN areas and the results are consistent with the geological model of iron formations hosting the gold mineralization. The gold in soil anomaly trends are associated with the iron formation extending over 15 kilometres from the KAN area where the iron formation is folded extensively to the Ferricrete Zone and represents only a portion of the prospective stratigraphy. The iron formation continues north towards the Koke property of Xstrata, which is adjacent to the KAN northern claim boundary. These grid soil samples expanded the target potential over the iron formation with the gold trend being open in both northern and southern directions.
Several surface iron formation gold targets were channel sampled in 2011 including the Pump Pad Ridge which returned 3.12 g/t Au over 13.89 metres, Ferricrete Main Zone, 18.3 g/t Au over 2.4 metres and Noranda Ridge North, 4.64 g/t Au over 1.3 metres. These excellent results enhance the geological model of bulk mineable gold mineralization hosted in iron formations within the Labrador Trough.
The Company is currently permitting the proposed 2012 diamond drill program and has requested a proposal to expand the VTEM survey to cover the additional claims staked in 2012 as a result of these exceptional gold in soil anomalies.
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Figure 1. Gold in soil anomalies associated with the iron formation as shown by the VTEM survey
A strict quality assurance/quality control program was applied to all samples taken by the Company, which includes mineralized standards and blank samples for each batch of 30 samples. All samples taken by the Company were sent to ALS Chemex in Val d’Or, Québec, an accredited commercial laboratory. The gold analyses were completed by fire assay with an atomic absorption finish on 30 grams of material. T. John Magee, P.Geo., President and CEO of the Company is the Qualified Person who has reviewed and is responsible for the technical data contained in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company 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 or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
For more information contact:
T. John Magee, P.Geo.
Tel: (416) 479-9546