VANCOUVER, British Columbia, Sept. 26, 2019 (GLOBE NEWSWIRE) — Rockridge Resources Ltd. (TSX-V: ROCK) (OTCQB: RRRLF) (Frankfurt: RR0) (“Rockridge” or the “Company”) announces that it has filed a National Instrument 43-101 Technical Report to support its inaugural resource estimate (see news released dated August 14, 2019) for the Knife Lake Project located in Saskatchewan, Canada (the “Knife Lake Project” or “Property”).
Rockridge entered into an Option Agreement with Eagle Plains Resources Ltd. to acquire a 100% interest in the Property that covers the majority of the Knife Lake Cu-Zn-Ag-Co VMS deposit. The contiguous claims total 85,196 hectares and are located approximately 50 km northwest of Sandy Bay, Saskatchewan. A 357kV powerline runs within 16 km of the Knife Lake Deposit area, greatly enhancing the project’s infrastructure.
Knife Lake VMS Project Map:
- Recently completed diamond drilling program plus historical drill core provided data for completion of the first NI 43-101 resource estimate for the Knife Lake deposit (see news release dated August 14, 2019).
- Knife Lake is a near surface VMS deposit starting a few metres below surface and the deposit remains open at depth and along strike for potential resource expansion.
- Indicated resources of 3.8 million tonnes at 1.02% CuEq (0.4% CuEq cut-off)
- Or 3.8 MT at 0.83% Cu, 3.7 gpt Ag, 0.097 gpt Au, 82 ppm Co, 1740.7 ppm Zn
- Inferred resources of 7.9 million tonnes at 0.67% CuEq (0.4% CuEq cut-off)
- Or 7.9 MT at 0.53% Cu, 2.4 gpt Ag, 0.084 gpt Au, 53.1 ppm Co, 1454.9 ppm Zn
- The deposit is a remobilized portion of a presumably larger “primary” VMS deposit; most of the historical work has consisted of shallow drilling at the deposit area with little regional work carried out and limited deeper drilling below the deposit.
- A summer field program was recently completed with results pending and news forthcoming.
Knife Lake Geology and History:
The Knife Lake Project is interpreted to be a remobilized VMS deposit. The stratabound mineralized zone is approximately 15m thick and contains copper, silver, zinc, gold and cobalt mineralization which dips 30° to 50° eastward over a known strike-length within Rockridge’s claim area of 3,700 metres, and a known average down-dip extension of approximately 300 metres.
Stephen Kenwood, P.Geo., an independent qualified person visited the Knife Lake Property on May 15, 2018 and March 22, 2019 and is responsible for the geology and QAQC for the NI 43-101 Knife Lake Resource Estimate.
Sue Bird, P.Eng., Principal of Moose Mountain Technical Services (MMTS) is the QP for the NI 43-101 Knife Lake Resource Estimate and has reviewed the QAQC for the deposit. Tracey Meintjes, P.Eng., Principal of MMTS is the QP for the metallurgy including the processing and recovery estimates.
Grant Ewing, P.Geo., a “qualified person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and is the CEO of Rockridge Resources Ltd., has reviewed and approved the scientific and technical disclosure in this news release.
About Rockridge Resources Ltd.
Rockridge Resources is a publicly traded mineral exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada, specifically copper and base metal projects. The Company’s flagship project is the Knife Lake Project located in Saskatchewan, which is ranked as the #3 mining jurisdiction in the world by the Fraser Institute. The project hosts the Knife Lake deposit, which is a VMS, near-surface copper-cobalt-gold-silver-zinc deposit open along strike and at depth. There is strong discovery potential in and around the deposit area as well as at regional targets on the 85,196-hectare property. Furthermore, the Company’s Raney Gold Project is a high-grade gold exploration project located in the same greenstone belt that hosts the world class Timmins and Kirkland Lake lode gold mining camps. Rockridge’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Rockridge Resources Ltd.
For further information contact myself or:
Jordan Trimble, President; Nick Coltura, Corporate Communications
Rockridge Resources Ltd.
Toll Free: 800-567-8181
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Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.