GOTHENBURG, Sweden, March 25, 2003 (PRIMEZONE) -- Riddarhyttan Resources AB (Other OTC:RRHYF): to clarify the information in the press release from March 24, 2003, we release this restructured information. New drill holes completed in the Suurikuusikko area (Finland) demonstrate high gold grades over considerable widths, further highlighting increased gold resource potential both in new zones and depth extensions.
- High gold grades over substantial widths encountered in a drill hole completed on the mineralized extensions of the Suurikuusikko Main Zone:-- 11.1 grams gold per tonne over a core length of 12 metres -- New results indicated that the intersected zone is very likely larger than originally estimated and has a high probability of extending laterally and at depth
- Recent drilling identifies the Ketola Zone's continuity at depth, intersecting the target horizon at a 150 metre depth: -- 5.4 grams gold per tonne over a 6.1 metre core length
- Gold bearing zone identified between surface and the upper reaches of the Kuukkeli zone, situated on the northern end of the Main Zone: -- 4.6 grams gold per tonne over a 7.3 metre core length -- Interpreted as an entirely new zone, when adjacent drill information is taken into account
During the winter of 2003, Riddarhyttan has undertaken to continue drilling operations in the field with eleven new holes completed and assayed (see appendix) since the time of our last press release.
High gold grades over considerable widths encountered in a Main Zone drill hole.
An increased understanding of the ore zone geometries of the Suurikuusikko Main Zone formed the basis for the recent extension of drill hole 98015 (drilled in 1998) targeting the potential continuation of the Western zone B, north of profile 6475. Prior to the deepening of this drill hole, previous intercepts were only reported from the Central Zone (see previous press releases) in this section of the deposit. The completion of this extension was a total success given that it intersected the targeted Western Zone-B at a depth of 260 meters reporting an average grade of 11.1 g/t over a 12.0 metre wide interval (including 15.8 metres grading 8.7 grams gold per tonne when adjacent lower grade mineralization is included). The same drill hole extension successfully intersected the Western Zone-C further on in the hole, reporting a grade of 9.0 g/t over 2.5 meters.
"These results are significant given that they further highlight the presence of high-grade mineralization and zone continuity of the Western zone B, beyond the previously known limits," said Lars-Goran Ohlsson, Managing Director of Riddarhyttan.
New gold bearing zone in the northern part of the Main Occurrence
A hole was drilled on the shallow reaches of Main Zone's northern-most extension (02063 in profile 7075). The zone's extension was intersected at a depth of 180 metres, reporting narrow but high grade mineralization grading 12.3 grams gold per tonne over 2.1 metres.(4.6 g/t over 7.3 meters, when lower grade adjacent mineralization is included). It is of importance to note that this new intercept is situated above the northerly plunging Kuukkeli zone, which in the same profile, occurs at a depth of just over 400 metres and averages over 20 meters in thickness.
The Ketola Zone continuity established at depth
Recent drilling conducted on the Ketola Zone, the southern-most known zone on trend, involved the deepening of a previously drilled hole (02013 in profile 5200). The aim of the hole deepening initiative was to intercept a parallel zone of gold mineralization that was not determined from previous drilling. As a result of the drill hole extension, two high-grade mineralized zones were intersected at a depth of approximately 150 metres:
- 2.6 metres grading 7.9 grams gold per tonne.
- 6.1 metres grading 5.4 grams gold per tonne.
When taken together, including a zone of lower grade material between the two higher grade sections, the entire zone averaged 4.9 grams per tonne over an 11.1 metre section of core. This relatively shallow drill hole (120 m), thus far the deepest hole drilled to date on the Ketola Zone, further demonstrates that the high-grade mineralization continues at depth and plunges approximately 45 degrees towards the north, as do all zones encountered to date in the Suurikuusikko shear.
The technical basic data in this report has been compiled by Lars-Goran Ohlsson (Managing Director of Riddarhyttan Resources) who by the Swedish Mining Association is registered as a "Qualified person". All analyses have been carried out by GTK's laboratory (accreditation code T025).
The complete press release including appendix can be read through the following link. http://reports.huginonline.com/896684/115147.pdf
Riddarhyttan Resources AB is an exploration company holding mineral titles on precious metals occurrences in the Nordic regions of Europe. The company's primary business focus is, by means of exploration and acquisition, to acquire new occurrences that can be advanced into economic resources and reserves through detailed exploration. At the Suurikuusikko gold deposit (Finland), which is Riddarhyttan's most advanced project, gold resources (57 % indicated and 43 % inferred resources, cutoff 2g/t Au) amount to 11.5 million tonnes averaging 5.4 grams gold per tonne (approximately 2 million ounces of gold).