KIRKLAND LAKE, ON, June 5, 2012 /CNW/ - RJK Explorations Ltd. (RJX.A: TSV) ("RJK") is providing an update to ongoing exploration activities on its 15,040 hectare Blackwater East, West, Northeast and Dave 2 properties, located in the Blackwater Gold Camp, approximately 100 kilometres southwest of Vanderhoof, B.C. The RJK properties are contiguous to the east and west of New Gold's Blackwater multi-million ounce bulk tonnage gold deposit
Blackwater East, Northeast Properties:
RJK advises that it has now completed its phase one drilling program at the Blackwater East and Northeast properties consisting of approximately 2,370 metres of diamond drilling. This drilling was orientated to test a number of initial targets, which had been derived from airborne/ground geophysical surveying, prospecting and limited soil geochemical sampling completed during the 2011 field season. All of the completed drill holes have now been logged, sampled and submitted for assay. As RJK awaits the final results, it is now preparing plans for follow-up drilling.
Blackwater West, Dave 2 Properties:
The Company is also resuming work on its Blackwater West and Dave 2 properties to follow-up on the 2011 field program which consisted of DIGHEM and ZTEM airborne geophysical surveying, limited line cutting, limited ground IP geophysical surveying and localized prospecting which had returned up to 0.3% Cu and 2.5 g/t Ag from bedrock sampling in felsic volcanics.
Initially RJK will concentrate its efforts on a minimum of four high priority areas that will be refined by additional line cutting, ground IP geophysical surveying and geochemical soil sampling which will prepare them for drill testing as soon as drill permits are received.
The Blackwater West and Dave 2 properties are strategically located in the emerging Blackwater Camp. They are surrounded by New Gold's gold/silver deposit and claim group immediately to the East, Independence Gold's "3 T's" gold deposit immediately to the South, Amarc Resources' claims and targets to the West / Southwest and New Gold's "Capoose" silver/gold deposit to the North.
"The Company eagerly awaits the remaining assay results from the initial drilling on the Blackwater East and Northeast properties and is excited to resume work at the Blackwater West and Dave 2 properties. We have favourable geological settings for mineral deposition along with a number of mineral occurrences coupled with the results of our initial work along with the fact that RJK is adequately funded, all of which should make for a very interesting exploration season this year," said Glenn Kasner, President.
Forward Looking Statements: includes statements contained in this news release regarding discussions in respect of a potential acquisition and funding arrangement and RJK's expectations regarding same and the trading of its shares on the TSX Venture Exchange. This forward-looking information reflects the current expectations or beliefs of RJK based on information currently available to it. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of RJK to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, RJK. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: the failure of RJK to enter into an agreement in respect of such arrangement; delays in obtaining or failure to obtain any required regulatory and/or shareholder approval; and other factors. Any forward-looking information speaks only as of the date on which it is made. Although RJK believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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.