Rio Alto Drills 173 Metres of 1.53 Grams of Gold Per Tonne
Published : April 26, 2011
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Keywords :   Aig | Diamond | Gold | Peru | Recovery | Silver |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 26, 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 14 reverse circulation drill holes within and around the Calaorco Pit at the La Arena Gold Oxide Mine ("Oxide Mine") located in Peru.

Significant intercepts were:

  Intercept Gold Grade
Hole (mts) (g/t)
CA-R11-004 282 0.61
CA-R11-006 208 1.20
CA-R11-007 173 1.53

The objectives of the 2011 oxide drilling program at Calaorco are; (a) to move material in the resource model from inferred to indicated, (b) fill gaps in the resource model in and around the current Calaorco pit design, (c) test a new structural interpretation that has been developed by Rio Alto´s geologists from the re-interpretation of previous core drilling; and (d) identify the mineral continuity below the current pit design. The current plan is to drill 11,700 m of RC holes comprising 41 holes, each of approximately 300 m in length. Mineralization above 0.2 grams per tonne gold cut-off was encountered in 13 of the 14 holes drilled to date. Based on the results of the first 14 RC holes, the Company has improved its knowledge of the geological model and is re-orienting the remaining holes in the current program.

The results of the first 3,755 m of drilling 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: http://media3.marketwire.com/docs/RIO0426.pdf

            Pit
Hole ID From To Length Au g/t Ag g/t Location
             
RC1 22 104 82 0.53 2.95 Inside
RC2 Below Cut Off Grade
RC3 20 50 30 0.72 0.65 Inside
RC4 16 298 282 0.61 0.41 Below
  Including 54 88 34 2.89 1.69 Inside
RC5 66 216 150 0.29 0.33 Inside
RC6 6 214 208 1.20 0.35 Inside
  Including 32 96 64 2.22 0.61 Inside
RC6 292 300 8 0.55 0.35 Below
RC7 74 247 173 1.53 0.27 Inside
  Including 110 132 22 6.43 0.37 Inside
  Including 112 118 6 13.28 0.63 Inside
RC8 0 24 24 0.81 0.28 Inside
RC8 126 230 104 0.27 0.27 Below
RC8 282 324 42 0.21 0.22 Below
  Including 320 324 4 0.92 0.20 Below
RC9 138 200 62 0.45 0.29 Inside
RC9 270 306 36 3.38 0.32 Below
  Including 278 302 24 4.92 0.34 Below
  Including 290 294 4 21.19 0.45 Below
RC10 98 212 114 0.42 0.45 Inside
RC10 234 298 64 0.98 0.48 Below
  Including 256 270 14 2.40 0.43 Below
RC11 112 184 72 0.25 0.29 Inside
RC11 232 306 74 0.33 0.21 Below
RC12 28 68 40 0.29 0.23 Inside
RC12 156 204 48 0.11 0.20 Inside
RC12 234 298 64 0.38 0.25 Below
RC13 0 48 48 0.95 1.10 Inside
RC13 66 190 124 0.30 0.28 Below
RC14 16 148 132 0.77 0.27 Inside

There are two RC drill rigs working at La Arena and a third RC drill rig is scheduled to arrive on site in June. Also in June, four Diamond drill rigs are scheduled to arrive on site. In March, Rio Alto designed an exploration program for its La Arena Project that included 40,000m of RC drilling and 10,000m of core drilling. Based on the early positive results from the drill holes at Calaorco, the previously announced results from the San Andres RC drilling (see Rio Alto press release issued March 14, 2011) and surface sampling in an unexplored area to the north of the Calaorco Pit, the Company is in the process of revising its 2011 drilling and exploration program. Once a revised program has been approved the Company will provide an update.

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. 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.

This news release contains certain forward-looking information including statements concerning the expected timing for the arrival of drills at La Arena and the announcement of a revised exploration program. 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 www.sedar.com. 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: www.rioaltomining.com or Rio Alto's SEDAR profile at www.sedar.com.

ON BEHALF OF THE BOARD OF RIO ALTO MINING LIMITED

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
+51 99279 4655 (FAX)
alexb@rioaltomining.com
or
Rio Alto Mining Limited
Alejandra Gomez
Investor Relations
+1 604 628 1401
+1 866 393 4493 (FAX)
alejandrag@rioaltomining.com
www.rioaltomining.com
Data and Statistics for these countries : Peru | All
Gold and Silver Prices for these countries : Peru | All

Rio Alto Mining Limited

DEVELOPMENT STAGE
CODE : RIO.TO
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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