Rockridge Completes 100% Earn-In at Raney Gold Project and Provides Update from the Fall 2020 Drill Program
VANCOUVER, British Columbia, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Rockridge Resources Ltd. (TSX-V:
ROCK) (OTCQB: RRRLF) (Frankfurt: RR0) (“Rockridge”) (the “Company”) is pleased to announce that it has completed its 100% earn-in of the Raney Gold
Project, located southwest of Timmins, Ontario (the “Raney Gold Project” or “Property”), ahead of schedule due to the successful findings thus far. Furthermore, the Company is approximately halfway
through its planned ~3,000 metre diamond drill program at the Property with five drill holes completed. The majority of these drill holes have successfully intersected alteration similar to what
has been seen in previous high-grade holes drilled on the Property.
Raney Gold Project Location Map:
The drill program is planned to evaluate three discrete exploration priorities: 1) test the down plunge continuity of the known, shallow, high-grade Raney Gold Zone; 2) evaluate the east and west magnetic features coincident with and extending along strike from the Raney Gold Zone; and 3) test an underexplored quartz feldspar porphyry (QFP) intrusion proximal to the Raney Gold Zone with associated historical high-grade gold grab sample results.
With only 5,600m of historical drilling carried out at the Property, the Raney Gold Zone has been drilled along a strike length of 225m and with limited drill testing deeper than 150m. The mineralized zone is typified by broad sections of fine quartz veins which comprise up to 15% - 50% of the rock mass. Visible gold has been historically identified in several drill holes including RN-20-06, which intersected 27.9 g/t Au over 6.0m (see website for image). Recent field work has recognized a plunge direction, which may be associated with the controls on gold mineralization. The current drill program is evaluating the projected down plunge extensions of past high-grade gold intersections (Table 1). The first few holes testing these down plunge extensions have successfully intersected alteration similar to what has been seen in previous high-grade holes drilled on the Property.
Cross Section of High-Grade Gold Mineralization in Hole RN 20-06:
Table 1 – Significant Historical High-Grade Gold Intersections from Raney Gold Zone:
|BHID||From m||To m||Width m||Au g/t|
A detailed drone magnetometer survey identified a prominent magnetic low response coincident with the Raney Gold Zone. The magnetic feature extends east and west from the area of known gold mineralization suggesting potential extensions to the gold system. Drill holes are planned to evaluate the prominent east and west magnetic features, and to evaluate an additional magnetic low feature to the east.