Richfield drills 145 metres of 2.70 g/t Au including 40 metres of 5.00 g/t Au

Mar 15, 2011, 08:30 ET from Richfield Ventures Corp.

QUESNEL, BC, March 15 /PRNewswire/ - Richfield Ventures Corp. (TSX.V: RVC) ("Richfield" or the "Company") is pleased to report drill results from the first four holes of the 2011 30,000 metre drill campaign to expand and delineate the resource on the Blackwater Gold Project. The project is approximately 100 km south of Vanderhoof, BC.

BW 117 and BW 119 are vertical holes drilled from the same collar. BW 117 was abandoned at 130 metres because of drilling problems and  BW 119 was therefore drilled immediately beside it to 438 metres depth. The holes are 50 metres west of BW 68 (227 metres of 1.51 g/t Au including 66 metres of 3.65 g/t- see NR July 26, 2010).

BW 119 intersected 256 metres grading 0.76 g/t Au including a 15 metre section of 3.90 g/t Au. At 395 metres the hole encountered a further 29 metres grading 1.25 g/tAu. Gold grades for composited 5 metre intervals are comparable where BW 117 and 119 duplicate each other. The long intersection in BW 119 generally confirms the grade shell model used in the resource estimate (see NR March 2, 2011).

From the bedrock contact at 5 metres BW 118 cut 99 metres grading 1.52 g/t Au. Deeper in the hole are 18 metres grading 2.69 g/t Au. (BW 118 is 150 metres east of BW 87- (115 metres @ 2.59 g/t Au including 57 metres of 4.79 g/t Au - see NR Nov 2, 2010). BW 118 intercepted mineralization outside of the resource estimate gradeshell within 100m of surface where both adjacent holes 92 and 99 intercepted waste grades.

BW 120 is on the east side of the property between BW 74 (231.96 metres of 0.75 g/t Au- see NR Sept 2, 2010) and BW 90 (171 metres of 3.13 g/t Au- see NR Nov 23, 2010). It cut 145 metres of 2.70 g/t Au including 40 metres of 5.00 g/t Au. The hole averages 1.67 g/t Au for its 288.64 metres length from bedrock contact. BW120 confirms the resource estimate gradeshell model.  

DDH From (m) To (m) Intvl (m) Au g/t Ag g/t
BW 117 41 62 21 0.68 1.2
BW 117 92 130 38 0.54 2.3
BW 118 12 111 99 1.52 10.0
BW 118 194 212 18 2.69 12.3
BW 119 40 64 24 0.54 1.3
BW 119 81 337 256 0.76 3.1
incl 135 150 15 3.90 13.0
BW 119 347 384 37 0.57 4.0
BW 119 395 424 29 1.25 2.5
BW 120 60 145 85 0.82 9.2
BW 120 158 303 145 2.70 8.6
incl 162 202 40 5.00 15.7

Peter Bernier, RVC president comments "We are very pleased that these four holes generally confirm the resource estimate model especially the higher grade intervals in BW 120".

Richfield also announces that the resource estimate report prepared by Geosim Services Inc. of Vancouver, Canada ("Geosim"), has been filed and is available on Sedar. The estimated Indicated Resource is 53.46 million tonnes at an average grade of 1.06 g/t Au containing 1.83 million ounces gold. A further 75.45 million tonnes at an average grade of 0.96 g/t Au containing 2.34 million ounces gold is estimated in the Inferred category. These estimates encompass the entire Blackwater deposit (see NR March 2, 2011).

Richfield will accelerate drilling during the third week of March 2011 by mobilizing a third drill to the property.

Drill map and strip logs for individual holes reported here will be posted on the company website.  

Richfield has fulfilled all requirements to earn-in a one hundred (100%) percent interest in the Jarrit Property, located on the southern portion of the Blackwater Gold Project.  The Jarrit Property is subject to a 2% NSR, 1% of which may be purchased for $1,000,000.

Drill map and strip logs for individual holes reported here will be posted on the company website.                 

Also see drilling results at http://www.corebox.net/properties/blackwater/index.php?deposit=510

Widths reported are drill widths; true widths are unknown. Assays are uncut, length-weighted average values.

Quality Assurance

Richfield has implemented a rigorous quality assurance/quality control program at the Blackwater property using best industry practice and supervised by Dirk Tempelman-Kluit. The program includes chain of custody of samples from drill to laboratory. Drill core is sawn in half at the property and for each sample half of the core from one metre intervals is placed in plastic bags and sealed. The remainder is retained in core boxes stored at the project camp.

A standard sample, a blank sample, or a duplicate sample is inserted into the sample stream every tenth sample. Three certified ore assay laboratory standards are used in the program, and are supplied by CDN Resource Laboratories Ltd., an independent laboratory located in Langley, BC. Samples including the blanks, standards and duplicates, are shipped by bonded courier to Eco Tech Stewart Group Laboratories in Kamloops, BC, an internationally recognized analytical services provider. Rejects selected at random are sent to Acme Labs of Vancouver, BC for check assays. In total 1279.35 metres was drilled in four holes; 1149 samples were prepared. A further 43 blanks, 41 standards and 41 duplicates were inserted in the sample stream. As well 38 samples were selected for check assay. Total quality control samples were 163, about 12.4 % of the samples analyzed. Richfield detected no significant QA/QC issues during review of the data.

The scientific and technical information contained in this news release was prepared under the supervision of Dirk Tempelman-Kluit Ph.D, FGAC, VP Exploration for Richfield Ventures Corp, and has been reviewed by Rob Pease P.Geo., who is a "Qualified Person" as defined under National Instrument 43-101.

Richfield Ventures Corp. is a public mineral exploration company trading on the TSX Venture Exchange under the symbol RVC. Richfield has been actively acquiring and exploring mineral tenures in the Quesnel Trough and Nechako Plateau regions of British Columbia.

On behalf of the Board of Directors of Richfield Ventures Corp.

"Peter Bernier"
Peter Bernier, President

Certain statements in this press release may be considered forward-looking information, including those relating to the "expectations", "intentions" or "plans" of the Company. Such information involves known and unknown risks, uncertainties and other factors -- including the approvals of regulators, availability of funds, the results of financing and exploration activities, the interpretation of drilling results and other geological data, project cost overruns or unanticipated costs and expenses and other risks identified by the Company in its public securities filings -- that may cause actual events to differ materially from current expectations.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.  The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Richfield Ventures Corp.