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Rockridge Resources Announces Inaugural NI 43-101 Resource Estimate for the Knife Lake Project
VANCOUVER, British Columbia, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Rockridge Resources Ltd. (TSX-V: ROCK) (OTCQB: RRRLF) (Frankfurt: RR0) (“Rockridge” or the “Compa
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[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Rockridge Resources Ltd. (TSX-V: ROCK) (OTCQB: RRRLF) (Frankfurt: RR0) (“Rockridge” or the “Company”) is pleased to announce the first NI 43-101 resource estimate for 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: Click Here Highlights: Recently completed diamond drilling program plus historical drill core provided data for completion of the first NI 43-101 resource estimate for the Knife Lake deposit. Knife Lake 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. Indicated resources of 3.8 million tonnes at 1.02% CuEq (0.4% CuEq cut-off) º Or 3.8 MT at 0.83% Cu, 3.7 gpt Ag, 0.097 gpt Au, 82 ppm Co, 1740.7 ppm Zn Inferred resources of 7.9 million tonnes at 0.67% CuEq (0.4% CuEq cut-off) º Or 7.9 MT at 0.53% Cu, 2.4 gpt Ag, 0.084 gpt Au, 53.1 ppm Co, 1454.9 ppm Zn The deposit is a remobilized portion of a presumably larger “primary” VMS 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. A summer field program is set to commence to refine and prioritize numerous regional exploration targets on the highly prospective and under-explored property; additional news is forthcoming. Rockridge’s CEO, Grant Ewing, commented: “This first NI 43-101 resource estimate for the Knife Lake deposit represents an important milestone for the Company. The near surface resource serves as a great foundation for the project. The Company will now focus on expanding the resource by drilling off extensions to the known deposit and exploring for additional deposits in the immediate vicinity on the extensive Knife Lake landholding. The geol...