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Rockridge Resources Commences Raney Gold Project Phase 1 Winter Drilling Program
VANCOUVER, British Columbia, Feb. 24, 2020 (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, Feb. 24, 2020 (GLOBE NEWSWIRE) -- Rockridge Resources Ltd. (TSX-V: ROCK) (OTCQB: RRRLF) (Frankfurt: RR0) (“Rockridge” or the “Company”) is pleased to announce that it has commenced a diamond drilling program at its Raney Gold Project located in Ontario, Canada (the “Raney Project” or “Property”). Approximately 2,000 metres in 7 to 10 drill holes are planned in phase 1 of the fully funded program. Raney Gold Project Location Map: http://www.rockridgeresourcesltd.com/_resources/maps/location_map_raney.pdf Highlights: The Raney Project is a prospective gold property located ~110 km southwest of the prolific gold district of Timmins, ON Limited historical exploration campaigns have outlined a +400 metre long zone where gold mineralization is associated with intensely sheared and altered rocks ~2,000 metre phase 1 drilling program commenced that will entail 7 to 10 holes, and focus on testing the expansion potential of a historic drill intercept that returned 6.5 g/t gold over 8 metres Testing new geological model that shows improved continuity of mineralized zones and expanded strike and dip potential Excellent potential to discover additional gold-bearing structures and expand known zones The last exploration activities occurred ~10 years ago when gold prices were ~US$900/oz. Property has excellent access and infrastructure; accessible by paved and forestry roads Newmont’s newest gold mine (Borden) located ~35km west and IAMGOLD’s Cote development project is ~75km southeast Planned Drill Program Summary: Historical drilling at the Raney Gold Project focused on identifying near-surface gold mineralization along an extensive alteration zone. Three sub-parallel and closely spaced mineralized zones of quartz carbonate alteration with quartz veining, pyrite, pyrrhotite, and occasionally visible gold have been outlined. The drilling to date suggests the possibility of steeply plunging shoots of mineralization with reasonable widths open along strike. A compilation and interpretation of historic data has resulted in the development of a new geologic model for the Raney Project. This new model indicates that the mineralized zones may have a steep south dip orientation versus the historical model which showed a steep north dip. Continuity between ...