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Roughrider Exploration Ltd. Announces Signing of Definitive Agreement on Empire Mine Property and Provides Exploration Update
VANCOUVER, Sept. 24, 2020 /CNW/ - Roughrider Exploration Limited (TSXV: REL) ("Roughrider" or the "Company") is pleased to announce that further to its news rel
About this update from Coast Copper Corp
[{"type":"text","content":"VANCOUVER, Sept. 24, 2020 /CNW/ - Roughrider Exploration Limited (TSXV: REL) (\"Roughrider\" or the \"Company\") is pleased to announce that further to its news release dated June 24, 2020, it has signed a definitive agreement (\"Empire Option Agreement\") on the Empire Mine Property, located on northern Vancouver Island, B.C. The Company also announces that it has completed initial exploration sampling work on the Empire Mine Property. Adam Travis, CEO and Director comments, \"I am pleased that we were able to finalize a definitive agreement on the Empire Mine Property and complete a small exploration sampling program as part of our due diligence. Now that we have signed the definitive agreement, our team will be working on First Nation consultations and drill permitting. We eagerly await the results of our initial sampling that was focused outside the historical resource published by Grand Portage in 2008 as an early indication of exploration potential along trend of this resource. We were also able to conduct a 474 line kilometre airborne survey over our Scottie West Property thanks to the help of our friends at Scottie Resources.\" Empire Mine Property (Northern Vancouver Island) Empire Mine Property The Empire Mine Property is an exploration stage property comprised of 23 mineral claims and 57 fee simple crown grants covering approximately 15,000 hectares that is easily accessed through a large network of forest service roads with elevations ranging from 100 metres (\"m\") to 1370 m thus providing for near year round exploration. The Empire Mine Property covers 22 mineral occurrences, including 3 past producing open pit and two underground past producing mines for magnetite, copper, gold, and silver. Historical measured and indicated resource of 960,000 tonnes at 2.03 g/t gold, 5.64 g/t silver, 0.34% copper, 0.013% cobalt and 16.1% iron using a 0.50 g/t gold cut-off completed November 30, 2008 by Gary Giroux. The resource was noted as open to depth and no further work on the resource has been completed since 2008 1, 2. Definitive Agreement Under the terms of the Empire Option Agreement, Roughrider can acquire a 100% interest in the Empire Mine Property from Mirva Properties Ltd. (\"Mirva\") by making aggregate cash payments of $1,250,000, i...