Rockridge Assets Completes 100% Earn-In
Vancouver, BC, Sept. 19, 2022 (GLOBE NEWSWIRE) — Rockridge Assets Ltd. (TSX-V: ROCK) (OTCQB: RRRLF) (Frankfurt: RR0) (“Rockridge” or the “Firm”) is happy to announce the completion of the earn-in possibility and its 100% possession at its flagship Knife Lake Copper VMS Mission in Saskatchewan (the “Knife Lake Mission” or “Property”).
The Knife Lake Mission, consisting of 82 claims totaling 56,865 hectares (140,516 acres), is an advanced-stage copper, silver, zinc and cobalt exploration property in Saskatchewan host to the Knife Lake Deposit.
Knife Lake VMS Mission Location Map:
The Knife Lake Mission is host to a NI 43-101 useful resource estimate which consists of a pit-constrained indicated useful resource of three.8 million tonnes at 1.02% CuEq and an inferred useful resource of seven.9 million tonnes at 0.67% CuEq utilizing a 0.4% CuEq cut-off. For extra info, please confer with the Information Launch dated August 14th, 2019 or the NI 43-101 Technical Report on the Mineral Useful resource Estimate for the Knife Lake Property, Saskatchewan dated September 27th, 2019, filed on Sedar.
Phrases of Possibility Settlement:
Beneath the phrases of the Settlement, Rockridge has now acquired a 100% curiosity within the Knife Lake Mission by making money funds to Eagle Plains Assets totaling CDN $150,000, issuing 5,550,000 widespread shares of Rockridge, and incurring exploration expenditures of CDN $3,250,000, over a four-year interval.
Summer Diamond Drilling Program:
The main target of the continued 2022 drill program has been on the extremely potential Gilbert Lake goal space in addition to continued infill and enlargement drilling on the Knife Lake deposit. This system is deliberate to consist of roughly 1,000m in six to eight drill holes.
The Gilbert Lake targets had been recognized from the outcomes and interpretation of the earlier geophysical, drill and area applications. Outcomes from these applications present that airborne VTEM surveys can efficiently establish zones of VMS-style mineralization hosted in beneficial stratigraphy on the property.
Knife Lake Goal Areas 2022 Drill Program:
The drilling on the Gilbert Lake South goal space will additional examine strike-length continuity of the mineralized horizon intersected in 2021 drilling, which stays open to the south.
The holes will even consider potential zoning of mineralization, which is usually noticed in VMS programs. Extra drilling at a newly found copper displaying on the Gilbert West Space has additionally been prioritized.
The holes will goal the down-dip extension of a mineralized and intensely altered volcanic package deal which is interpreted to be the Knife Lake stratigraphic horizon. The Gilbert West goal has by no means been drill examined.
The Firm will even be drilling on the Knife Lake deposit space as infill and enlargement drilling to improve the present useful resource estimate. Rockridge has obtained its exploration allow which is nice by means of February 2024.
Knife Lake Geology and History:
The Knife Lake Deposit is interpreted to be a remobilized VMS deposit. The stratabound mineralized zone is roughly 15m thick and comprises copper, silver, zinc, gold and cobalt mineralization which dips 30° to 50° eastward over a identified strike-length inside Rockridge’s declare space of three,700 metres, and a identified common down-dip extension of roughly 300 metres.
Knife Lake Deposit Map:
The deposit is hosted by felsic to intermediate volcanic and volcaniclastic rocks which have been metamorphosed to higher amphibolite facies. The deposit comprises VMS mineralogy which has been considerably modified and partially remobilized in the course of the emplacement of granitic rocks.
The mineralization straddles the boundary between two rock models and happens on each limbs of an interpreted overturned fold.
The Firm accomplished twenty-four holes consisting of three,096 metres of diamond drilling within the 2019 and 2021 winter drilling applications. This represented the primary drilling on the property since 2001.
Each applications have given the Firm’s technical group worthwhile insights into the property geology, alteration, and mineralization that will likely be utilized to future regional exploration on the extremely potential and underexplored land package deal.
Knife Lake VTEM and Seize Pattern Survey:
Highlights from the drill applications embrace beforehand reported gap KF19003 which intersected net-textured to semi-massive sulphide mineralization from 11.2m to 48.8m downhole. This 37.6 metre interval returned 2.03% Cu, 0.19 g/t Au, 9.88 g/t Ag, 0.36% Zn, and 0.01% Co for an estimated 2.42% CuEq.
Certified Particular person:
Kerry Bates, P. Geo., a “certified individual” for the needs of Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives, and a Geologist employed by Eagle Plains Assets, has reviewed and authorized the scientific and technical disclosure on this information launch referring to the Knife Lake Mission.
About Rockridge Assets Ltd.:
Rockridge Assets (TSX.V: ROCK) is a public mineral exploration firm centered on the acquisition, exploration and growth of mineral useful resource properties in Canada, particularly copper and gold.
The Firm’s core 100% owned copper venture is the Knife Lake Mission positioned in Saskatchewan which is ranked as a prime mining jurisdiction on the earth by the Fraser Institute. The venture hosts the Knife Lake Deposit, which is a VMS, near-surface Cu-Co-Au-Ag-Zn deposit open alongside strike and at depth.
There may be robust discovery potential in and across the deposit space in addition to at regional targets on the massive property package deal.
The Firm’s secondary asset is the 100% owned Raney Gold Mission, which is a high-grade gold exploration venture positioned in the identical greenstone belt that hosts the world class Timmins and Kirkland Lake lode gold mining camps.
Not too long ago reported drill gap RN 20-06 intersected 28.0 g/t gold over 6.0 metres at a shallow vertical stage of 95 metres, which is one of the best consequence from the venture so far.
Rockridge’s aim is to maximise shareholder worth by means of new mineral discoveries, dedicated long-term partnerships, and the development of exploration tasks in geopolitically beneficial jurisdictions.
Knife Lake Copper Mission Location Map:
Extra details about Rockridge Assets and its venture portfolio could be discovered on the Firm’s web site at www.rockridgeresourcesltd.com.
Rockridge Assets Ltd.
Ahead Trying Data
This launch contains sure statements that could be deemed to be “forward-looking statements”. All statements on this launch, apart from statements of historic information, that handle occasions or developments that administration of the Firm expects, are forward-looking statements.
Statements included on this announcement, together with statements regarding our plans, intentions and expectations, which aren’t historic in nature are supposed to be, and are hereby recognized as, “forward-looking statements”.
Ahead-looking statements could also be recognized by phrases together with “anticipates”, “believes”, “intends”, “estimates”, “expects” and comparable expressions.
Though administration believes the expectations expressed in such forward-looking statements are primarily based on affordable assumptions, such statements are usually not ensures of future efficiency, and precise outcomes or developments could differ materially from these within the forward-looking statements.
The Firm undertakes no obligation to replace these forward-looking statements if administration’s beliefs, estimates or opinions, or different components, ought to change.
Components that would trigger precise outcomes to vary materially from these in forward-looking statements, embrace market costs, exploration and growth successes, continued availability of capital and financing, and common financial, market or enterprise situations. Please see the general public filings of the Firm at www.sedar.com for additional info.