News

Revolution Acquires Historic Mines Along Champion Hills Trend



March 4, 2011

March 4th, 2011, Vancouver, British Columbia – Revolution Resources Corp TSX:RV (“Revolution”) is pleased to announce that the Company has expanded its land package in the Champion Hills trend, North Carolina through the acquisition of the prolific Silver Hill Mine and Silver Valley and Virgilina Properties.

These new acquisitions located within the 25 km long Champion Hills trend increase Revolution’s land package to over 5,000 acres. Champion Hills is comprised of a series of historic gold and base metal mines and deposits that have seen limited modern exploration. This trend exhibits geological similarities to the Haile-Brewer trend in South Carolina. Haile Mines (Romarco Minerals) has recently acquired land at the Northeast end of the Champion Hills Trend.

The Silver Hill and Silver Valley properties are located eight kilometres west of Revolution’s Loflin and Jones-Keystone gold targets. Recently announced drilling at Jones-Keystone includes: hole JK10-06 28.0 meters averaging 3.01 g/t Au within an interval of 54.0 meters averaging 1.56 g/t Au. Recently announced initial drill results from Loflin include: 70.0 meters averaging 1.10 g/t Au and 30.0 meters averaging 2.59 g/t Au (See RV News Release 2011, January 6th, 2011).

Silver Hill Mine

The Silver Hill Mine is one of the earliest lode gold and silver mines in the Carolina Slate Belt, with production from 1912 until 1938. The Mine was famous for spectacular supergene native gold and silver specimens, some of which are displayed in the Smithsonian institution. The deposit is interpreted to be a precious-metal rich volcanogenic massive sulphide deposit (“VMS”). Historic drilling and underground drifting by Tennessee Copper in the 1960’s traced mineralization down to 550 meters below surface.

Revolution has obtained incomplete historic data for an estimated 32 historic drill holes completed in the 1960’s by Tennessee Copper Corp and New Jersey Zinc. Some of this data includes:

  • DDH#5: 4.27 meters averaging 0.17% Cu, 29.1% Zn, 8.4% Pb, 50.4 g/t Au and 85.0 g/t Ag
  • DDH#6: 2.44 meters averaging 0.36% Cu, 18.3% Zn, 6.9% Pb, 1.7 g/t Au and 46.6 g/t Ag
  • DDH#16: 2.74 meters averaging 0.50% Cu, 30.7% Zn, 10.3% Pb, 13.0 g/t Au and 89.1 g/t Ag

These holes are located along one east-west cross-section, and suggest 320 meters of continuous massive sulphide mineralization down-dip from the historic workings. Revolution cautions that the Silver Hill Mine records, though relevant, are historical in nature and have not been independently reviewed, are not NI 43-101 compliant and should not be relied upon.)

No work has been completed for over 40 years on the property.

Revolution signed a Letter Agreement with Carolina Minerals Resources Inc (“CMRI”) granting 100% of CMRI’s rights to a mineral lease agreement (“Lease Agreement”) for the Silver Hill Property. The Agreement is subject to cash payments to CMRI totalling US$200,000 ($40,000 first year), incurring expenditures totalling US$2,500,000 ($500,000 first year), and issuing 300,000 shares (75,000 first year), all over a four year time frame. Upon completion of a positive, bankable feasibility study, the company will issue 500,000 shares; additionally, upon completion of commercial production on the Property, the company will issue a further 500,000 shares. The Property is subject to a 4% Net Smelter Returns Royalty.

Silver Valley

Silver Valley is located approximately three kilometres south and on trend with the Silver Hill Mine, and was the site of historic underground production for lead, gold and silver. Mineralization within dump material includes sediment and volcanic hosted massive and semi-massive sulphides, similar to the Silver Hill Mine. During the early 1990’s BHP completed IP geophysics mapping and sampling as well as 1,858 meters of core drilling in 12 wide-spaced holes, targeting bulk tonnage gold mineralization. This work identified a 750 meter long gold/silver in soil anomaly (>100 ppb Au) and coincident IP chargeability anomaly. Historic drill results include: 30.2 meters averaging 3.68 g/t Au and 9.74 g/t Ag, and 13.4 meters averaging 0.31 g/t Au and 17.75 g/t Ag. Revolution cautions that the Silver Valley records, though relevant, are historical in nature and have not been independently reviewed, are not NI 43-101 compliant and should not be relied upon.)

 

Revolution signed a Letter Agreement with Carolina Minerals Resources Inc (“CMRI”) granting 100% of CMRI’s rights to a mineral lease agreement (“Lease Agreement”) for the Silver Valley Property. The Agreement is subject to cash payments to CMRI totalling US$200,000 ($40,000 first year), incurring expenditures totalling US$2,500,000 ($500,000 first year), and issuing 300,000 shares (75,000 first year), all over a four year time frame. Upon completion of a positive, bankable feasibility study, the company will issue 500,000 shares; additionally, upon completion of commercial production on the Property, the company will issue a further 500,000 shares. The Property is subject to a 4% Net Smelter Returns Royalty.

Property location maps and historic drill hole tables will be available shortly on the Company’s website at www.revolutionresourcecorp.com.

About the Champion Hills Project

The Champion Hills Property is comprised of multiple historic pits and workings within a 25 kilometer long trend in North Carolina. The Project occurs within the Carolina Slate Belt, which hosts the majority of the major gold mines in the south-eastern U.S. Significant deposits include the Ridgeway Mine, which produced 1.5 million ounces of gold from 1988 to 1999, and Romarco’s Haile Mine project. The Champion Hills project is geologically analogous to these deposits, whereby gold mineralization is hosted within quartz-sericite-pyrite altered volcanic rocks, associated with northeast trending shear zones.

Minimal modern exploration has occurred in the Carolina Slate Belt, generally due to previous complex land tenure. Gold was discovered in the Champion Hills in the early 1800’s, with small scale production from many small operations. Mining continued in the area through the 1930’s depression era. Noranda explored Champion Hills for shallow, open-pit gold deposits from 1989 to 1992, completing 23 core holes totalling 2,936 meters. This drilling encountered multiple drill intercepts averaging over 0.5 to 1.3 g/t Au over long intervals, including several holes that were abandoned in mineralization at depth.

Virgilina Property

The Company also recently acquired the Virgilina Copper Property, located 80 kilometers north of the Champion Hills trend. The property is comprised of significant historic copper mines. According to historic records (Virginia Geological Survey, Bull. # XIV), average grades were 3.0% Cu and 30 g/t Ag from 2.0 meter wide quartz veins, and mining occurred to over 200 meter depths, within ore shoots that extend for 30 to 60 meters in strike length. The Property includes mineral title to approximately 2,000 hectares. (Revolution cautions that the Virgilina Property records, though relevant, are historical in nature and have not been independently reviewed, are not NI 43-101 compliant and should not be relied upon.)

Revolution signed a Letter Agreement with an arms-length Third Party (“Vendor”) granting 100% of Vendor’s mineral rights for the Virgilina Property. The Agreement is subject to cash payments to Vendor totalling US$600,000 ($120,000 first year), incurring expenditures totalling US$1,500,000 ($100,000 first year), and issuing 400,000 shares (100,000 first year), all over a four year time frame. Upon completion of a positive, bankeable feasibility study, the company will issue 500,000 shares; additionally, upon completion of commercial production on the Property, the company will issue a further 500,000 shares.

 

About Revolution

Revolution’s exploration program at Champion Hills is performed under the supervision of Robert McLeod, P.Geo, Director of Revolution and a Qualified Person as defined by NI 43-101. Drill cores are cut in half using a diamond saw, with one half placed in sealed bags, and delivered to ALS-Chemex facilities in Reno, Nevada. A sample quality control/quality assurance program utilizing standards and blanks, as well as third-party check labs has been implemented. Contents of this release were prepared by and approved for release by Mr. McLeod.

ON BEHALF OF THE BOARD

“Aaron Keay”

President, CEO and Director


 

For further information contact:

Dylan Berg,
Manager, Investor Relations
604.681.5672 office
604.616.1182 mobile
dylan@revolutionrc.com

Aaron Keay,
President, CEO and Director
604.678.4024 office
604.323.6911 mobile
aaron@revolutionrc.com

Forward-Looking Statements: This Revolution Resources Corp. News Release may contain certain "forward-looking" statements and information relating to Revolution which are based on the beliefs of Revolution management, as well as assumptions made by and information currently available to Revolution management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.

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