Rolling Rock's Monument Bay Gold Resource Increased by 35%
08 Gennaio 2008 - 2:00PM
Marketwired
VANCOUVER, BRITISH COLUMBIA has received the updated resource
estimate prepared by Wardrop Engineering Inc. for its 100% owned
Monument Bay property located in northern Manitoba, Canada.
This updated inferred resource estimate incorporates the results
from 2 drilling programs done by the Company totaling 16,716 meters
since the July 2006 NI 43-101 resource estimate contained in the
Technical Report posted on the Company's profile on www.sedar.com
on July 7, 2006. Thomas C. Stubens, M.A. Sc., P. Eng., Senior
Geologist of Wardrop Engineering Inc., conducted the updated
resource estimate in coordination with the Company's technical
staff.
"We are very pleased with the updated resource at Monument Bay
which shows a significant increase from the 2006 estimation, and
with our greater understanding of the deposit we can now move
forward with a scoping study as this project's next step," said
Scott Angus, President and CEO.
The NI 43-101 compliant technical report on the updated resource
estimate, under preparation by Johan M. Shearer, B. Sc., P. Geo and
Jose Garcia, the Company's senior project geologist, will be
available within 45 days of the date of this news release and will
be posted on the Company's profile on www.sedar.com.
The significant increase in this inferred resource is mainly
contributed by additional mineralized volume from the newly
discovered Burn zone; the expanded G zone and the main body east
extension (To see the attached figure please click on the following
link: http://www.ccnmatthews.com/docs/RLL108map.pdf).
The following table is the cumulative inferred resource summary:
ID3, capped at selected Au cut-offs showing the Wardrop July 06
summary, the updated January 08 summary and the percentage
increase.
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Wardrop July 2006 Wardrop January 2008
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Cut off K Au K Au Percentage
g/t Tonnes g/t K oz Tonnes g/t K oz increase
-----------------------------------------------------------------
3 3,379 6.45 701 4,888 6.01 944 34.6
-----------------------------------------------------------------
4 2,302 7.85 581 2,967 7.66 731 25.8
-----------------------------------------------------------------
5 1,609 9.32 482 1,936 9.38 584 21.2
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6 1,195 10.65 409 1,366 11.02 484 18.3
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7 894 12.05 346 1,008 12.63 410 18.2
-----------------------------------------------------------------
8 702 13.30 300 776 14.17 354 17.8
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9 547 14.68 258 604 15.80 307 19.0
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10 426 16.16 221 474 17.53 267 20.8
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11 335 17.70 191 381 19.25 236 23.8
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12 286 18.77 173 314 20.91 211 22.4
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The mineral resource update, particularly the block resource
model, has enhanced the understanding of the continuity, geometry
and gold grade distribution for each of the thirteen (13) veins
modeled in this study of the Monument Bay property.
A greater level of confidence and resource classification could
be achieved with underground development and closely-spaced
drilling to test the geological and grade continuity of the many
gold-bearing veins on the Monument Bay property. A scoping study to
determine the economic viability of pursuing underground
development work for more diagnostic mapping and sampling of the
deposit as well as to serve as platform for more cost effective
definition drilling to upgrade the resource category and eventually
convert the mineral resource to ore reserve will now be pursued by
the Company.
Parameters used for the updated resource estimates are as
follows:
- The mineral resources in the table were estimated using CIM
standards on mineral resources and reserves.
- The total database is comprised of 414 drill holes aggregating
113,703.6 meters (373,061.7 feet) of core drilling.
- Within the area of the resource inventory update, there were
341 holes totaling 96,578.7 meters (316,874.8 feet), of which
38,985.48 meters (127,911.4 feet) of the core was sampled and
assayed in accordance with industry best practice procedures. These
yielded a total of 38,043 gold assays that had passed
industry-standard QA-QC protocol.
- The inferred resource consists of thirteen geologically and
geographically distinct mineralized solids (veins) with distinct
structural-stratigraphic, alteration-mineralization and sulphide
assemblage characteristics.
- Grade interpolation is based on 1-m length composite within
each geological unit or vein. The cutting thresholds used in
Wardrop's 2006 Technical Report were employed in this study.
- Block models were established in Datamine for each of the 13
veins, truncated at the bedrock-overburden surface, using inverse
distance cube gridding procedure, with directional parameters
(distance and direction) based on the attitude and structural
strength of each vein.
- Block model dimension is 10m by 1m by 10 m (Easting x Northing
x Elevation), with sub cell size of 5m (Easting - X) by 0.5m
(Northing- Y) and infinite splitting on the Z direction, to best
model the narrow steeply dipping veins.
- Only blocks lying within 50 meters of a drill hole composite
have been included in the estimate.
Mr. Thomas C. Stubens, M.A. Sc., P. Eng.; Senior Geologist of
Wardrop Engineering Inc., and Mr. Johan M. Shearer M. Sc., P. Geo;
Project Manager are independent of Rolling Rock and are Qualified
Persons in accordance with NI 43-101 and they have both reviewed
and approved the content of this release.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Rolling Rock Resources Corporation Scott Angus (604)
488-1456
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