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Rockridge Resources Completes 100% Earn-In at its Flagship Knife Lake Copper Project in Saskatchewan
Vancouver, BC, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Rockridge Resources Ltd. (TSX-V: ROCK) (OTCQB: RRRLF) (Frankfurt: RR0) (“Rockridge” or the “Company”) is pleas
About this update from Trident Resources Corp.
[{"type":"text","content":" Vancouver, BC, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Rockridge Resources Ltd. (TSX-V: ROCK) (OTCQB: RRRLF) (Frankfurt: RR0) (“Rockridge” or the “Company”) is pleased to announce the completion of the earn-in option and its 100% ownership at its flagship Knife Lake Copper VMS Project in Saskatchewan (the “Knife Lake Project” or “Property”). The Knife Lake Project, consisting of 82 claims totaling 56,865 hectares (140,516 acres), is an advanced-stage copper, silver, zinc and cobalt exploration property in Saskatchewan host to the Knife Lake Deposit. Knife Lake VMS Project Location Map: The Knife Lake Project is host to a NI 43-101 resource estimate which consists of a pit-constrained indicated resource of 3.8 million tonnes at 1.02% CuEq and an inferred resource of 7.9 million tonnes at 0.67% CuEq using a 0.4% CuEq cut-off. For more information, please refer to the News Release dated August 14th, 2019 or the NI 43-101 Technical Report on the Mineral Resource Estimate for the Knife Lake Property, Saskatchewan dated September 27th, 2019, filed on Sedar. Terms of Option Agreement: Under the terms of the Agreement, Rockridge has now acquired a 100% interest in the Knife Lake Project by making cash payments to Eagle Plains Resources totaling CDN $150,000, issuing 5,550,000 common shares of Rockridge, and incurring exploration expenditures of CDN $3,250,000, over a four-year period. Summer Diamond Drilling Program: The focus of the ongoing 2022 drill program has been on the highly prospective Gilbert Lake target area as well as continued infill and expansion drilling at the Knife Lake deposit. The program is planned to consist of approximately 1,000m in six to eight drill holes. The Gilbert Lake targets were identified from the results and interpretation of the previous geophysical, drill and field programs. Results from these programs show that airborne VTEM surveys can successfully identify zones of VMS-style mineralization hosted in favourable stratigraphy on the property. Knife Lake Target Areas 2022 Drill Program: The drilling at the Gilbert Lake South target area will further investigate strike-length continuity of the mineralized horizon intersected in 2021 drilling, which remains open to the south. The holes will also evaluate potential zoning of mineralization, which is commonly observed in VMS systems. Additional drilling ...