Rhyolite Updates Activities
Company:
Rhyolite Resources Ltd.
Title:
Rhyolite Updates Activities
Text:
RYHOLITE RESOURCES LTD.
Suite 1028 – 550 Burrard Street
Vancouver, BC V6C 2B5
Tel: (604) 689-1428 / Fax: (604) 681-4692
February 14, 2008 TSX-V: RYE
Rhyolite Resources Ltd. ("Rhyolite" of “Company”) (TSX VENTURE:RYE) reports
that the assays from its 2007 field program over the Delta massive sulphide property
located 58 kilometres southwest of Tok, Alaska have been compiled and based on the
results, the Company will not exercise its option to earn a 100% interest in the
property.
The Company targeted the Super Cub East area of the Delta property with three
diamond drill holes totalling 278 metres. The first hole tested a geophysical gravity
anomaly outlined in 2006 and intersected un-mineralized meta-gabbroic rocks
believed to be the source of the anomaly. The other two holes tested the geological
projection of a silica-pyrite horizon. Hole two missed the targeted horizon. Hole
three intersected 12 metres of altered graphitic schist with coarse pyrite but no
significant metal values were encountered.
Rhyolite completed its required expenditures for 2007, but based on the results will
not be exercising its option to acquire a 100% interest in the Delta property from
Grayd Resource Corporation.
The Company is continuing to evaluate other mineral properties for possible
acquisition.
Richard Graham P.Geol., president of Rhyolite, is a Qualified Person as defined by
National Instrument 43-101, and is responsible for the preparation of the technical
information in this release. All dollars are in Canadian currency unless otherwise
stated.
Forward-Looking Statement
Some statements in this report contain forward-looking information. These statements
include, but are not limited to, statements with respect to future exploration,
expenditures, transactions and financings. These statements address future events and
conditions and, as such, involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of to be
materially different from any future results, performance or achievements expressed
or implied by the statements. Such factors include, among others, risks related to
actual results of exploration activities, the timing and amount of expenditures and the
completion of transactions and financings.
On behalf of the Board, Richard Graham, President & CEO
For further information contact:
Richard Graham on (604) 689-1428
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.
Suite 1028 – 550 Burrard Street
Vancouver, BC V6C 2B5
Tel: (604) 689-1428 / Fax: (604) 681-4692
February 14, 2008 TSX-V: RYE
Rhyolite Resources Ltd. ("Rhyolite" of “Company”) (TSX VENTURE:RYE) reports
that the assays from its 2007 field program over the Delta massive sulphide property
located 58 kilometres southwest of Tok, Alaska have been compiled and based on the
results, the Company will not exercise its option to earn a 100% interest in the
property.
The Company targeted the Super Cub East area of the Delta property with three
diamond drill holes totalling 278 metres. The first hole tested a geophysical gravity
anomaly outlined in 2006 and intersected un-mineralized meta-gabbroic rocks
believed to be the source of the anomaly. The other two holes tested the geological
projection of a silica-pyrite horizon. Hole two missed the targeted horizon. Hole
three intersected 12 metres of altered graphitic schist with coarse pyrite but no
significant metal values were encountered.
Rhyolite completed its required expenditures for 2007, but based on the results will
not be exercising its option to acquire a 100% interest in the Delta property from
Grayd Resource Corporation.
The Company is continuing to evaluate other mineral properties for possible
acquisition.
Richard Graham P.Geol., president of Rhyolite, is a Qualified Person as defined by
National Instrument 43-101, and is responsible for the preparation of the technical
information in this release. All dollars are in Canadian currency unless otherwise
stated.
Forward-Looking Statement
Some statements in this report contain forward-looking information. These statements
include, but are not limited to, statements with respect to future exploration,
expenditures, transactions and financings. These statements address future events and
conditions and, as such, involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of to be
materially different from any future results, performance or achievements expressed
or implied by the statements. Such factors include, among others, risks related to
actual results of exploration activities, the timing and amount of expenditures and the
completion of transactions and financings.
On behalf of the Board, Richard Graham, President & CEO
For further information contact:
Richard Graham on (604) 689-1428
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.