Business
Rogue Corporate Update: Stone Sales Continue, Preparing for Potential Gold Exploration this summer at Radio Hill
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES Both the ...
About this update from Clean Energy Transition Inc.
[{"type":"text","content":"Rogue Corporate Update: Stone Sales Continue, Preparing for Potential Gold Exploration this summer at Radio HillNOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICESBoth the Orillia and Bobcaygeon quarries have restarted and completed sales post-COVID-19 ClosureLandscaping, Stone Yards and Garden Centres are slowly beginning to normalize across Ontario and MichiganThe Company qualifies for and will receive the Canada Emergency Wage Subsidy (\"CEWS\")Analysis continues on the promising gold potential at Radio Hill, analysis of historic drill-core now posted onlinePrivate Placement in process, split $100K Non-Flow-Through and $200K Flow-ThroughTORONTO, ON / ACCESSWIRE / May 11, 2020 / Rogue Resources Inc. (TSXV:RRS) (\"Rogue\" or the \"Company\") is pleased to announce that Rogue Stone's quarries at Orillia and Bobcaygeon have both restarted and the Company plans to ramp-up over the coming weeks, growing to an expected full complement of operators and the full fleet of eight pieces of equipment later this month.Continued Government SupportIn addition to receiving the Canada Emergency Bank Account (\"CEBA\") for the maximum $40,000 (see further detail in the April 27, 2020 news release), Rogue has qualified for the Canada Emergency Wage Subsidy (\"CEWS\") which is a subsidy to cover 75% of an employee's wages - up to $847 per week - for qualifying employers who can show a qualifying drop in gross revenues in March, April and May. The program was initially planned to be in place for a 12-week period, from March 15 to June 6, 2020, but last Friday it was announced that it would continue into the summer, with more detail to come this week.The CEBA and the CEWS help support the Company's continued ramp-up post-COVID-19 Closure.Radio HillRogue's 1,800 hectare land package is located along the western extension of the Destor-Porcupine Fault, southwest of the prolific gold district of Timmins, Ontario. Radio Hill is surrounded on 3 sides by the Pen Gold Project, amalgamated by GFG Resources (TSXV:GFG) in 2018. In April, GFG announced a promising result, within approximately 4km of Radio Hill, for 71.27 Grams of Gold per Tonne Over 8.5m. Based on this result, and the interpretation that a similar geological package extends onto the nearby Rogue land, the Company continues to review its historical data and plan for a ...