Vancouver, BC , June 29, 2022 (GLOBE NEWSWIRE) -- Rockridge Resources Ltd. (TSX-V: ROCK) (OTCQB: RRRLF) (Frankfurt: RR0) (“Rockridge” or the “Company”) is pleased to announce it has completed its 3D Geophysical Plate Modelling of the recently acquired VTEM data which will be used to further refine targeting for Rockridge’s upcoming drill program starting in mid-July 2022 at its Knife Lake High-Grade Copper VMS Project located in Saskatchewan, Canada (the “Knife Lake Project” or “Property”). Rockridge is fully funded and permitted for this drill program.
The Company is pleased to announce that the VTEM survey data displays up to 15 km strike length of highly conductive near-surface anomalies hosted in prospective stratigraphy in regional target areas. The regional target areas, which include the Gilbert Lake Targets, were previously identified through geological mapping, surface sampling and geochemical analyses as stratigraphy with high potential to host valuable copper occurrences and other sulphide mineral occurrences. This stratigraphy is interpreted to be the same horizon that hosts the Knife Lake Deposit.
Knife Lake VMS Project Location Map:
Rockridge’s CEO, Jonathan Wiesblatt, commented: “We are very excited for the upcoming drilling at our flagship asset and look forward to potentially making a new discovery and advancing the project. The 3D modeling of the five plates has confirmed our strategy that the Gilbert Lake Target will be the primary focus on this upcoming drill program in mid-July 2022. The project remains an exciting exploration story that can offer investors exposure to a top mining jurisdiction and to commodities in high demand such as copper, cobalt and zinc. We look forward to updating our shareholders in the coming weeks.”
Updates for Upcoming Diamond Drilling Program:
The focus of the 2022 drill program will be on the highly prospective Gilbert Lake target area. The Gilbert Lake targets were identified from the results and interpretation of the 2021 geophysical, drill and field programs. Results from these programs show that airborne VTEM surveys can successfully identify zones of VMS-style mineralization hosted in favourable stratigraphy on the property. Additionally, the Company has now finalized the 3D modeling of the VTEM data focusing on the highest-priority drill targets for the upcoming program. Rockridge has signed all major contracts including the drill contractor, camp construction, and helicopter rental. The drill program is scheduled to commence in mid-July 2022. The Company has also received its Exploration Permit which expires in February 2024 and hence can conduct drilling, geophysical works and prospecting.
Knife Lake Geology and History:
The Knife Lake Deposit 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:
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 has completed twenty-four holes consisting of 3,096 metres of diamond drilling in the 2019 and 2021 winter drilling programs. This represented the first drilling on the property since 2001. Both programs have given 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.
Knife Lake VTEM and Grab Sample Survey:
Highlights from the drill programs include 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.
In August 2019, Rockridge announced a maiden NI 43-101 resource estimate for the Knife Lake deposit which consisted of a pit-constrained indicated resource of 3.8 million tonnes at 1.02% CuEq and an inferred resource of 7.9 million tonnes at 0.67% CuEq using a 0.4% CuEq cut-off. For more information, please refer to the News Release dated August 14th, 2019 or the NI 43-101 Technical Report on the Mineral Resource Estimate for the Knife Lake Property, Saskatchewan dated September 27, 2019, filed on Sedar.
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 Eagle Plains Resources, has reviewed and approved the scientific and technical disclosure in this news release relating to the Knife Lake Project.
About Rockridge Resources Ltd.:
Rockridge Resources (TSX.V: ROCK) is a public mineral exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada, specifically copper and gold. The Company’s core copper project is the Knife Lake Project located in Saskatchewan which is ranked as a top mining jurisdiction in the world by the Fraser Institute.
The project hosts the Knife Lake Deposit, which is a VMS, near-surface Cu-Co-Au-Ag-Zn 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 large property package.
The Company's secondary asset is the Raney Gold Project, which 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. Recently reported drill hole RN 20-06 intersected 28.0 g/t gold over 6.0 metres at a shallow vertical level of 95 metres, which is the best result from the project thus far. 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.
Knife Lake Copper Project Location Map:
Rockridge Resources Ltd.
For further information contact myself or:
Jordan Trimble, President or
Riley Trimble, Corporate Communications
Rockridge Resources Ltd.
Toll Free: 800-567-8181
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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.