GOTHENBURG, Sweden, Nov. 7, 2002 (PRIMEZONE) -- Riddarhyttan (Stockholm:RHYT):
-- Accelerated program to investigate financing alternatives based upon
successful exploration and improved gold price
-- Significant international institutional shareholder base a strong vote
of confidence in Riddarhyttan
-- New positive exploration results from several zones:
-- The Western Bzone (5.5 m core section containing 9.8 grams of
gold per ton)
-- The Western Bzone (12.7 m core section containing 5.4 grams of
gold per ton)
-- The Kukkeli zone (12.3 m core section containing 8.6 grams of gold
per ton)
-- The Etela zone (10.4 m core section containing 8.0 grams of
gold per ton)
-- Central Rouravaara (4.2 m core section containing 8.7 grams of
gold per ton)
-- The goldbearing shear zone, hosting the Suurikuusikko gold deposits,
can now be traced in a continuous manner over a total distance of
4.1 km.
-- The Group loss after financial items for the three first quarter of
2002 amounted to SEK 8.4 M ( 8.5 M)The full Interim Report including
tables is available to download from the enclosed link.
Riddarhyttan Resources AB is an exploration company concentrating on deposits of precious metals in the Scandinavian countries. The company's primary business concept is to acquire, either by means of exploration or acquisition, new mineral deposits that, through detailed exploration, can be enhanced into minable ore. At the Suurikuusikko deposit (Finland), which is Riddarhyttan's most advanced project, the tonnage (59% "indicated" and 41% "inferred resources") amounts to 8.3 million tons, with 6.1 grams of gold per ton (approx.1.6 million ounces of gold). Tonnage calculations made by Micon Int Ltd. in March 2001.
To view this release in its entirety, including financial tables, please click the link: http://reports.huginonline.com/880664/110109.pdf