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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	RHM
Latest Price:	0.00 (0.00%)
52-week High:	0.31
52-week Low:	0.00

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Richmond Mining Full Richmond Mining profile here

Richmond Mining (ASX: RHM) is developing the Buena Vista Iron project in the U.S. Buena Vista is an advanced pre-development iron ore project with potential for early production located 450 kilometres NE of San Francisco in rural Nevada, in the heart of one of the most “mining-friendly” states in the USA.

Richmond is also exploring for nickel, base metals, gold and uranium at a suite of projects in Western Australia. One of the key focuses is to assess the nickel sulphide potential at the highly prospective Loongana project on the Nullarbor Plain.

Richmond Mining intersects semi-massive magnetite in Nevada iron ore project

Tuesday, May 11, 2010

Richmond Mining (ASX: RHM) has reported an intersection of of 130m of semi-massive and disseminated magnetite mineralisation in the first hole into the West deposit at its Buena Vista iron ore project, 150km northeast of Reno, Nevada, USA.

Logging of the first hole, NBV3, indicated a down-hole thickness of about 440 feet (about 135m) from approximately 100 feet below surface.

The hole was drilled between the historical US Steel holes BV 35 and BV 40. The magnetite mineralisation and geology "is as interpreted from the historical work by US Steel."

The company said assays were not available at this time.

Richmond will test and evaluate whether this high grade zone is open to the noth as per results from historic US Steel drilling.

The planned drill programme comprises one vertical and nine angled diamond holes for an estimated 1,500–2,000m of drilling. Six holes have now been drilled and the programme is expected to be completed within one and a half weeks.

Seven of the holes are to be drilled at -60° and two at -80°. The majority of the holes are designed to test the higher grade zone in the proposed West pit to a maximum depth of 170m where reported magnetite ore grades 35-40% total Fe.

Richmond previously announced in February 2010, a Measured resource of 109 million tonnes grading 23% total Fe within the proposed West pit.

The company has identified an additional exploration target of 45-55 million tonnes grading 20-22% total Fe also within the proposed West pit.

Extensive historic metallurgical test work has demonstrated the ore will "easily beneficiate to a concentrate grading +66% total Fe."

Outside the area of the proposed West pit, historical drilling has identified additional exploration targets of 200-250 million tonnes grading 20-22% total Fe within Richmond’s tenement holdings.

Richmond is aiming to fast track Buena Vista into production.

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