Rio Alto Drills 134 Metres of 2.29 Grams of Gold Per Tonne
Published : June 15, 2011
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Keywords :   Aig | Diamond | Gold | Peru | Recovery | Silver |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 15, 2011) - Rio Alto Mining Limited ("Rio Alto" or the "Company") (TSX VENTURE:RIO)(OTCQX:RIOAF)(BVLAC:RIO)(DBFrankfurt:MS2) is pleased to report assay results from 18 reverse circulation ("RC") drill holes within and around the Calaorco Pit at the La Arena Gold Oxide Mine ("Oxide Mine") located in Peru.

Significant intercepts were:

Hole Intercept (mts) Gold Grade (g/t)
CA-R11-018 184 0.84
CA-R11-020 134 2.29
CA-R11-021 274 0.51
CA-R11-022 200 1.43
CA-R11-024 296 0.69
CA-R11-025 210 0.62

Rio Alto previously announced an 11,700m RC drilling program at the Calaorco Pit. Based on the results obtained from the first 32 holes totaling 9,029m management has decided to increase the program by 3,000m to 14,700m in approximately 55 holes. Rio Alto will deliver an updated resource model for the Calaorco Pit during Q4 2011. Management expects that this drilling program will: result in positive changes to the resource block classification; define new resource blocks; and identify new areas to test in order to increase resources.

On April 26, 2011 the Company reported the results from 14 holes totaling 3,755m. This announcement reports the results of an additional 9,029m in 18 holes. All holes, except one, intercepted gold mineralization in excess of the current mining cutoff grade within and outside of the current pit design.

The results of the most recent 18 holes within the oxide breccia sandstone are outlined below:

Drill Results

References to "Pit Location" in the following table refer to intercepts within ("Inside") the Calaorco Oxide Pit or drill hole intercepts that extended below ("Below") the Calaorco Oxide Pit. A map illustrating drill hole locations and selected drill hole cross sections related to this press release may be accessed by following this link

Hole ID From To Interval (m) Au g/t Ag g/t   Pit Location
RC15 88 104 16 0.41 0.40   Inside
RC16 182 200 18 0.33 0.92   Inside
RC17 0 40 40 3.44 0.28   Inside
Including 18 34 16 6.08 0.33   Inside
RC17 112 166 54 0.36 0.21   Inside
RC17 236 300 64 0.38 0.33   Inside
RC18 0 184 184 0.84 0.30   Below
Including 18 54 36 2.17 0.29   Inside
RC19 122 150 28 0.25 0.52   Inside
RC20 4 138 134 2.29 0.59   Inside
Including 48 60 12 6.00 0.42   Inside
Including 104 114 10 6.12 0.62   Inside
RC21 0 274 274 0.51 0.51   Below
Including 56 70 14 2.52 0.96   Inside
RC22 0 20 20 0.28 0.21   Inside
RC22 88 288 200 1.43 0.26   Below
Including 132 186 54 3.55 0.32   Inside
Including 174 182 8 16.02 0.20   Inside
RC23 4 32 28 0.56 0.21   Inside
RC23 54 78 24 0.60 0.79   Inside
RC23 100 162 62 0.29 0.30   Inside
RC23 178 196 18 0.58 0.56   Inside
RC23 218 252 34 0.28 0.42   Below
RC24 2 298 296 0.69 0.41   Below
RC25 0 210 210 0.62 0.26   Below
Including 80 94 14 3.05 0.26   Inside
RC25 242 260 18 0.45 0.20   Below
RC26 72 106 34 0.72 0.62   Inside
Including 74 76 2 8.13 2.40   Inside
RC26 246 300 54 0.32 0.41   Inside
RC27 214 336 122 0.37 0.37   Below
RC28 18 264 246 0.33 0.42   Below
Including 22 26 4 1.61 1.35   Inside
Including 102 108 6 1.47 0.33   Inside
Including 220 226 6 1.06 0.67   Below
RC29 10 28 18 0.45 0.20   Inside
RC29 104 146 42 0.19 0.58   Inside
RC30 0 34 34 0.11 0.20   Inside
RC30 86 106 20 0.13 0.34   Inside
RC30 164 178 14 0.22 0.23   Inside
RC30 264 306 42 0.20 0.31   Below
RC31            Below the cutoff grade     
RC32 32 54 22 0.22 1.18   Inside

There are two RC drill rigs working at La Arena. By the end of June, four Diamond drill rigs are scheduled to arrive on site.

Approximately 500m north of Calaorco a new exploration target, Astrid, has been identified by surface mapping and geochemical sampling. This target has the same geological and geochemical characteristics as Calaorco. At Astrid the Company plans to run 20 Km of IP and Ground Magnetic lines to identify drill targets.

Quality Control and Assurance

Sampling of the reverse circulation drilling and sample preparation were performed by Rio Alto personnel and were carried out under strict protocols recommended in the NI 43-101 Technical Report dated July 31, 2010 prepared by Coffey Mining Pty Ltd for the Company ("the Report"). Samples were taken every 2m and split in half to yield seven to ten kilogram samples. Drill sample recovery was generally in excess of 90 %. Rio Alto has a rigorous QA/QC program to control the chain-of-custody of samples and the insertion of blanks, duplicates, and certified reference standards in each batch of samples. Samples were shipped to CIMM-Peru in Lima where they were dried, crushed, pulverized, and assayed. All gold assays were obtained by standard 50g fire assaying with AA finish. All silver assays reported in the press release were obtained by Aqua-Regia dissolution followed by ICP measurement. CIMM-Peru is an ISO 9001:2000 certified laboratory.

Enrique Garay, M Sc. P. Geo. (AIG Member), Vice President Geology of Rio Alto is the Qualified Person responsible for the management of the exploration program and disclosure of the drill results as defined by National Instrument 43-101. Mr. Ian Dreyer, B.App.Sc (AUSIMM Member), of Coffey Mining Pty Ltd, a Qualified Person as defined by National Instrument 43-101, designed and reviewed the Quality Control and Assurance program carried out by the Company with respect to these drill results. Each of Mr. Garay and Mr. Dreyer has read and approved the scientific and technical information in this news release. For additional information regarding the Oxide Mine please refer to the Report, a copy of which is available under Rio Alto's SEDAR profile at

This news release contains certain forward-looking information including statements concerning the expected timing for the arrival of drills at La Arena, the timing of a new resource estimate for Calaorco and the announcement of an exploration program at the Astrid target. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Rio Alto's disclosure documents on the SEDAR website at Rio Alto does not undertake to update any forward-looking information except in accordance with applicable securities laws.

To learn more about Rio Alto Mining Limited, please visit: or Rio Alto's SEDAR profile at


Alex Black, President & COO

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

Rio Alto Mining Limited
Alex Black
President & COO
+51 1 625 9900 or +51 99279 4655
Rio Alto Mining Limited
Alejandra Gomez
Investor Relations
+1 604 628 1401 or +1 866 393 4493
Data and Statistics for these countries : Peru | All
Gold and Silver Prices for these countries : Peru | All

Rio Alto Mining Limited

ISIN : CA76689T1049
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Rio Alto is a copper and gold development stage company based in Canada.

Rio Alto develops copper, gold and silver in Peru, and holds various exploration projects in Mexico.

Its main asset in development is LA ARENA in Peru and its main exploration properties are ANILLO DE FUEGO, PROVIDENCIA, RAL ( LA IGUANA ), VALLECILLO, MAMULIQUE and LA BLANCA in Mexico.

Rio Alto is listed in Canada. Its market capitalisation is CA$ 793.2 millions as of today (US$ 798.5 millions, € 597.1 millions).

Its stock quote reached its lowest recent point on December 26, 2008 at CA$ 0.07, and its highest recent level on February 23, 2012 at CA$ 4.54.

Rio Alto has 175 886 000 shares outstanding.

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In the News and Medias of Rio Alto Mining Limited
1/31/2008Follow up N° 2
Annual reports of Rio Alto Mining Limited
2007 annual report
2007 Q1 report
2006 Q3 report
2006 annual report
Financings of Rio Alto Mining Limited
11/30/2010Completes First Tranche of Private Placement for C$12.8 Mill...
1/7/2009Extends Expiry Date of Outstanding Warrants
12/23/2008Proposes to Extend Expiry Date of Outstanding Warrants
Option Grants of Rio Alto Mining Limited
7/23/2009Name Change to Rio Alto Mining Limited and Grant of Stock Op...
5/25/2009Announces Grant of Stock Options
Nominations of Rio Alto Mining Limited
3/14/2011Announces Appointment of Victor Gobitz and Sidney Robinson t...
2/18/2011Announces the Departure of Feisal Somji
6/17/2008Appoints Jose Sayo Garcia as VP Exploration and Brings Addit...
Project news of Rio Alto Mining Limited
4/29/2011(La Arena)Drills 173 Metres of 1.53 Grams of Gold Per Tonne
2/9/2011(La Arena)Announces Acquisition of 100% of La Arena Project
8/5/2009(La Arena)La Arena Surface Rights and Project Update
6/29/2009(La Arena)Confirms Option Agreement on La Arena and Equity Position in...
7/7/2008(Mamulique)Commences First Phase Drilling at the Mamulique Project
6/4/2008(Ral ( La Iguana ))Reports Extension of Mantos in the First Phase of Drilling a...
5/12/2008(La Blanca)Discovers New High Grade Veins
3/25/2008(Vallecillo)Initiates IP Geophysics at Vallecillo
2/19/2008(Mamulique) Announces Positive Exploration Results and Drill Plan for t...
1/30/2008(Ral ( La Iguana ))Announces an Exploration Update on its Iguana Project
1/23/2008(Vallecillo)Reports further drill results from the Vallecillo drill prog...
Corporate news of Rio Alto Mining Limited
4/1/2015Tahoe Resources and Rio Alto Mining Announce Completion of M...
3/30/2015Announces Shareholder and Court Approval of the Plan of Arra...
3/16/2015Announces Net Income of US$49.8 Million for 2014
7/20/2011Drills 238 Metres of 1.06 Grams of Gold Per Tonne
6/15/2011Drills 134 Metres of 2.29 Grams of Gold Per Tonne
5/9/2011(La Arena)Pours 1,115 Oz of Gold at La Arena
6/30/2009Completes Acquisition of Rio Alto Mining Limited
6/22/2009Enters Definitive Agreement to Acquire Rio Alto Mining Limit...
3/10/2009Enters into Letter of Intent to Acquire Rio Alto Mining Limi...
2/25/2009at 2009 Prospectors & Developers Association of Canada Confe...
12/19/2008Featured on Business Television
11/19/2008Provides a Corporate Update and Initiates Review of Strategi...
4/23/2008 Grants and Re-Prices Options
4/8/2008 Announces the Addition of Jim Glass to Board of Directors
2/29/20082007 Q3 Report
1/28/2008Announces Exploration Results from the Magnolia Mine Area wi...
12/5/2007 Announces Positive Drill Assay Results From Vallecillo and ...
11/30/20072007 Q2 report
11/19/2007 Acquires the Voladora Mine in the State of Nuevo Leon
10/31/2007Increases Drill Program at Vallecillo
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