GlobeNewswire

Rockridge Announces Commencement of Summer Exploration Program at its Knife Lake Project

Share

VANCOUVER, British Columbia, Aug. 27, 2019 (GLOBE NEWSWIRE) -- Rockridge Resources Ltd. (TSX-V: ROCK ) (OTCQB: RRRLF ) (Frankfurt: RR0 ) (“Rockridge” or the “Company”) is pleased to announce it has commenced a summer exploration program at its flagship 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:
http://www.rockridgeresourcesltd.com/_resources/projects/Knife_Lake_Region_20190730.pdf

2019 Regional Exploration Program : 

Research and the compilation of historic data has identified 11 highly prospective targets within the large landholding, and numerous second priority targets. The summer field exploration program has now commenced and will focus on a first pass evaluation of three priority targets: Gilbert Lake, Scimitar Lake and Machete. All of these targets are in the immediate vicinity of the Knife Lake deposit.

Gilbert Lake is a large priority target area 7 km west of the Knife Lake deposit. The target includes over 14 km of highly prospective VMS stratigraphy, contains a number of shallow EM conductors, and historic exploration has encountered highly favorable alteration and mineralization.

Scimitar Lake is a large target area centered 7 km east of the Knife Lake deposit and contains over 3.5 km of prospective VMS stratigraphy. Only three drill holes have been drilled historically on EM conductors identified with ground geophysics and two of the three holes contained shallow intercepts of copper mineralization including chalcopyrite and native copper. However, no assays were cited in the historical reports. The majority of known conductors remain untested both along strike and at depth. 

The Machete target is located 8 km NNW of the Knife Lake deposit and contains 3.5 km of prospective VMS stratigraphy. This target hosts an airborne EM anomaly that has seen no documented exploration. The coincidence of the EM anomaly with the prospective Knife Lake VMS horizon have made it a priority target for follow-up.

2019 exploration of all targets will include geologic mapping, litho-geochemical sampling, prospecting, and soil sampling with the goal of making a new grassroots discovery in close proximity to the Knife Lake deposit.

Knife Lake 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.

2019 Regional Exploration Program, Priority Targets :
http://www.rockridgeresourcesltd.com/_resources/maps/Knife-Field-Program-Start-NR-20190819.pdf

Knife Lake Geology and Histor y: 

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:
http://www.rockridgeresourcesltd.com/_resources/projects/Knife_Lake_Location_and_Highlights_20190730.pdf

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).

Qualified Persons:

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 new 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. 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.

“Jordan Trimble”
                                                           
Jordan Trimble
President and Director

For further information, contact myself or:
Nick Coltura
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 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.

 

About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

Brunel stops activities in BIS - Earnings outlook substantially adjusted downwards22.10.2019 20:00:00 CESTPress release

Amsterdam, 22 October 2019 BIS activities are loss-making and causing one-off costs Profitability further under pressure due to the performance in the Netherlands and expected tougher conditions in Germany After careful consideration, Brunel has decided to stop Brunel Industrial Services (BIS) in Texas, US. Since 2017, BIS has worked on various construction and maintenance projects, including large projects in shale oil & gas. As announced in Brunel´s Q2 results this August, we encountered issues with a project for a water treatment plant, which we won in 2018, leading to a one-off loss of EUR 5.5 million. We replaced the general manager and rebuild the organization, but at the same time we saw the market for shale oil & gas experiencing a slowdown with changing clients’ behavior in their contracting model from T&M to fixed pricing. As a consequence, our BIS-activities in Q3 were at a very low level, causing a disbalance with our organizational capacity and resulting in significant ope

Telenor Group and NENT Group to merge Canal Digital and Viasat Consumer22.10.2019 19:14:00 CESTPress release

(Fornebu/Stockholm, 22 October 2019) Telenor Group and Nordic Entertainment Group (NENT Group) today announced the formation of a new company that combines Canal Digital and Viasat Consumer (satellite pay-TV & broadband-TV operations). This will create a vibrant Nordic TV distribution business and capture synergies in a maturing direct-to-home (DTH) segment. Telenor and NENT Group will each hold 50 percent of the new company. Highlights: The combination generates a Nordic player with combined net sales of approximately NOK 7 billion and around 1.25 million subscribers (Q2 2019). The combination is expected to yield peak annual cost synergies of approximately NOK 600 million, with full effect from 2022. Integration and other related costs are expected to total approximately NOK 830 million. The company will be headquartered in both Oslo and Stockholm, and will also have a substantial presence in Copenhagen. The joint venture will operate at arm’s length to its parents. The Nordic consum

Telenor og NENT slår sammen Canal Digital og Viasat Consumer22.10.2019 19:14:00 CESTPressemelding

(Fornebu / Stockholm, 22. oktober 2019) Telenor og Nordic Entertainment Group (NENT) kunngjør i dag opprettelsen av et nytt selskap som kombinerer Canal Digital og Viasat Consumer (satellitt- og bredbånds-TV­). Dette vil skape en fremoverlent nordisk TV-distribusjonsvirksomhet og hente synergier i et modent direct-to-home segment (DTH). Telenor og NENT vil hver eie 50 prosent av det nye selskapet. Nøkkeltall Transaksjonen resulterer i et selskap med en total omsetning på ca 7 milliarder NOK og i overkant av 1,25 millioner kunder (Q2 2019). Transaksjonen er forventet å gi årlige synergier på inntil 600 millioner NOK med helårseffekt fra 2022. Det er forventet inntil 830 millioner NOK i integrasjonskostnader. Selskapet vil ha hovedkontorer i både Oslo og Stockholm, og vil også ha en betydelig tilstedeværelse i København. Selskapet vil operere på armlengdes avstand i forhold til eierne. Det nordiske kundetilbudet vil fokusere på satellittdistribuert betal-TV (DTH) og strømmetjenester, sam

Scanship Holding ASA : Presentation of 3Q 2019 Trading update, including contract awards on 22 October22.10.2019 16:59:00 CESTPress release

Please find enclosed the presentation of the 3Q 2019 Trading update for Scanship Holding ASA, including the contract awards received the 22 October on the order backlog. For further queries, please contact: Henrik Badin - CEO Scanship Holding ASA Tel: +47 90 78 98 25 Email: henrik.badin@scanship.no ABOUT SCANSHIP HOLDING ASA Scanship delivers world leading solutions for cleaner oceans in the Cruise and Aquaculture industries. Scanship provides advanced technologies for processing waste and purifying wastewater. Owners operating Scanship systems have the solution to convert all waste and wastewater into clean energy and purified water which meets the highest international discharge standards. Any residuals from the Scanship processes can be recovered for reuse. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. Attachment 22102019_Scanship Holding ASA - 3Q2019 Trading Update with contract awards after presentation

European Commission has published a decision on the compatible state aid22.10.2019 16:58:00 CESTPress release

European Commission has published a decision on the compatible state aid confirming that the measures proposed by the Republic of Lithuania to reduce the costs of maintenance of LNG terminal are compatible with the internal market and fulfil the criteria for state aid. The measures approved in this decision will create legal preconditions to reduce the costs of maintenance of LNG terminal by the amount of up to EUR 135,5 mln. until 2024. Further decisions will be approved by the Board and the General Meeting of Shareholders of AB Klaipedos nafta. More information on the approval of the European Commission is provided on the following: https://ec.europa.eu/competition/elojade/isef/case_details.cfm?proc_code=3_SA_53074 Jonas Lenkšas, Chief Financial Officer, +370 694 80594

Scanship Holding ASA : Scanship awarded clean ship system contracts and increases backlog to new record high22.10.2019 15:45:00 CESTPress release

Scanship Holding ASA, through its subsidiary Scanship AS, has been awarded contracts with an European shipbuilder for the supply of a total Scanship clean ship system for two luxury and expedition class type of cruise ships. The newbuilds will enter service in 2022 and 2023. The contracts also include options for further deliveries to 6 newbuilds planned to enter service from 2024 and onwards. The luxury vessels will be delivered to one of the major US based shipowners. More details will be announced in relation to these contracts at a later stage. The Scanship contracts includes delivery of systems for food waste processing, garbage handling and wastewater purification, to meet the industry's highest environmental regulations worldwide and particularly the new regulations now being enforced in the Baltic Sea. This latest order intake accumulates the total order backlog to a record high level of NOK 710 million firm and NOK 570 million of optional contracts. For further queries, please