VANCOUVER, BC, March 11, 2021 /CNW/ - Rockridge Resources
Ltd. (TSXV: ROCK) (OTCQB: RRRLF) (Frankfurt:
RR0) ("Rockridge" or the "Company") is pleased to announce it
has completed its geophysical program at its flagship Knife Lake
Project located in Saskatchewan,
Canada (the "Knife Lake Project" or "Property"). The Company
also announces its plans for an upcoming 1,600 metres minimum drill
program. Rockridge has an Option Agreement with Eagle Plains
Resources Ltd. to acquire a 100% interest in the Property that
covers the Knife Lake Cu-Zn-Ag-Co VMS deposit. The contiguous
claims total 32,663 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:
https://www.rockridgeresourcesltd.com/_resources/projects/KnifeLake-Fig3.jpg
Winter Geophysical
Program:
Crews have now completed an airborne electromagnetic (EM) and
horizontal magnetic gradiometer geophysical survey at the Knife
Lake Project using Geotech Ltd.'s VTEMTM Plus system.
The survey was strategically located over the Scimitar and
Gilbert Lake targets to investigate
over 30 linear kilometers of prospective VMS stratigraphy which
hosts the Knife Lake copper deposit.
Airborne Geophysical
Results:
http://www.rockridgeresourcesltd.com/_resources/images/Airborne-EM-results-03-10-2021.jpg
Preliminary data from the survey has revealed several conductive
features of significant interest, eight conductors have been
prioritized for geophysical modeling based on their correlation
with prospective stratigraphy and favorable geochemistry. These
geophysical models will assist in targeting holes for the upcoming
drill program.
2021 Regional Exploration Program and Priority
Target
Areas:
http://www.rockridgeresourcesltd.com/_resources/images/Knife-Lake-Airborne-EM-Feb2021.jpg
The Knife Lake deposit contains typical VMS mineralogy which has
been significantly modified and partially remobilized during the
emplacement of granitic rocks. Therefore, the known deposit may
represent a remobilized portion of a presumably larger "primary"
VMS deposit based on general observations about the mineralogy,
mineral textures and metal ratios in the 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. As a result, there is strong discovery
potential both at depth and regionally.
Upcoming Knife Lake Drill Program:
Rockridge has recently commenced the mobilization of crew and
equipment to complete a minimum of 1,600 metres diamond drill
program consisting of 6-8 holes. Drilling will focus on discovering
VMS style copper deposits along newly defined conductors and at
depth, underneath the Knife Lake deposit. Infill drilling is also
planned in the immediate area of the 2019 maiden resource.
Downhole geophysics, borehole electromagnetics (BHEM), will be
utilized extensively throughout the program.
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.
Knife Lake Deposit
Map:
https://www.rockridgeresourcesltd.com/_resources/projects/KnifeLake-Fig2.jpg
The deposit is hosted by felsic to intermediate volcanic and
volcaniclastic rocks which have been metamorphosed to upper
amphibolite facies. The deposit contains VMS mineralogy which has
been significantly modified and partially remobilized during the
emplacement of granitic rocks. The mineralization straddles the
boundary between two rock units and occurs on both limbs of an
interpreted overturned fold.
The Company completed twelve holes consisting of 1,053 metres of
diamond drilling in the 2019 winter drilling program. This
represented the first drilling on the property since 2001 and had
two primary objectives: confirm the tenor of mineralization
reported by previous operators and expand known zones of
mineralization. Highlights from the drill program included
previously reported hole 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.
Additionally, previously reported drill hole KF19001 intersected
net-textured to fracture-controlled sulphide mineralization from
7.5 metres to 40.6 metres downhole. This 33.1 metre interval
returned 1.28% Cu, 0.12 g/t Au, 4.80 g/t Ag, 0.13% Zn, and 0.01% Co
for an estimated 1.49% CuEq.
Knife Lake Plan Map and Drill Collar
Locations:
http://www.rockridgeresourcesltd.com/_resources/maps/KN-2019-DDH-Location-20190808.pdf
Compilation and initial modelling indicate potential for
expansion of the deposit at depth. The recent drilling focused on
resource upgrade as well as infill drilling between historical
holes. The program gave the Company's technical team valuable
insights into the property geology, alteration, and mineralization
that will be applied to future regional exploration on the highly
prospective and underexplored land package.
The Knife Lake deposit 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. Recently Rockridge
announced a maiden NI 43-101 resource estimate for the Knife Lake
deposit (see the News Release dated August
14th, 2019) which consisted of an indicated
resource of 3.8 million tonnes at 1.02% CuEq at a 0.4% CuEq cut-off
(3.8 MT at 0.83% Cu, 3.7 gpt Ag, 0.097 gpt Au, 82 ppm Co, 1740.7
ppm Zn). In addition there is an inferred resource of 7.9 million
tonnes at 0.67% CuEq at a 0.4% CuEq cut-off (7.9 MT at 0.53% Cu,
2.4 gpt Ag, 0.084 gpt Au, 53.1 ppm Co, 1454.9 ppm Zn). Refer to the
NI 43-101 Technical Report on the Mineral Resource Estimate for the
Knife Lake Property, Saskatchewan
dated September 27, 2019 filed on
Sedar.
Qualified Persons:
Kerry Bates, P. Geo., a
"qualified person" for the purposes of National Instrument 43-101 -
Standards of Disclosure for Mineral Projects, and a Geologist
employed by TerraLogic Exploration Inc., has reviewed and approved
the scientific and technical disclosure in this news release
relating the Knife Lake Project
Todd Keast, P.Geo., a "qualified
person" for the purposes of National Instrument 43-101 - Standards
of Disclosure for Mineral Projects, and the Raney Gold Project
Manager for Rockridge Resources Ltd., has reviewed and approved the
scientific and technical disclosure in this news release relating
to the Raney Gold
Project.
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 and other mining-friendly
jurisdictions. The Company's Knife Lake Project is in Saskatchewan, which is ranked as one of the
top mining jurisdictions 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. 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.
Additional information about Rockridge Resources and its project
portfolio can be found on the Company's website at
www.rockridgeresourcesltd.com.
Rockridge Resources Ltd.
"Grant Ewing"
Grant Ewing
CEO
For further information contact myself or:
Jordan Trimble, President or
Spencer Coulter, Corporate
Communications
Rockridge Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@rockridgeresourcesltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE
CONTENT OF THIS NEWS RELEASE.
Forward Looking Information
This release includes certain statements that may be deemed to
be "forward-looking statements". All statements in this release,
other than statements of historical facts, that address events or
developments that management of the Company expects, are
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. Although management believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance, and actual results or developments may differ
materially from those in the forward-looking statements. The
Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change. Factors that could cause actual results to
differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued
availability of capital and financing, and general economic, market
or business conditions. Please see the public filings of the
Company at www.sedar.com for further information.
SOURCE Rockridge Resources Ltd.
