Rio Novo Gold Inc. (RN.TO) is at a year low $1 as it reported assay results from the ongoing drilling program at its 100% owned Almas Gold Project, located in the State of Tocantins, Brazil.
Rio Novo has drilled 16 scout diamond drill holes totalling 3,222m into the newly acquired Vira-Saia target. The Vira-Saia target is part of the additional land package optioned by Rio Novo in April 2011, which covers a 3 km trend defined by structure, geochemistry, and old workings. The area is approximately 5 km from the planned milling facilities at Paiol.
The most significant result is in FVSD-0014 with 15.0m at 2.10 g/t. This hole ties together with intercepts of FVSD-0016 (9.5m @ 1.62 g/t) and FVSD-0001 (14.6m @ 0.94 g/t), defining a zone with a northwest strike of at least 250m in length and 10-15m in thickness. The zone is cut off to the southeast by a fault, but is open to the northwest and at depth
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
