Malibu, CA, Nov 7, 2022 AEST (ABN Newswire) - In this segment of The Ellis Martin Report we speak with Jonathan Weisblatt, the CEO of Rockridge Resources Ltd (CVE:ROCK) (RRRLF:OTCMKTS) as the company reports high grade copper equivalent from the drill program at the Knife Lake Copper Project in Saskatchewan, Canada. A company to consider as a potential investment in the copper space with great possible upside.
Rockridge Intersects Shallow, High-Grade Mineralization including 2.32% CuEq over 15.75m Starting from 13m Depth in Hole KF22029 at its Knife Lake Copper Project, Saskatchewan
Rockridge Resources Ltd. is pleased to announce initial results from its recently completed diamond drilling program at its 100% owned Knife Lake Copper Project located in Saskatchewan, Canada (the "Knife Lake Project" or "Property"). The Company drilled a total of 939 metres in six drill holes and has received assays and completed interpretation for four holes (635m). Results for the remaining two holes will be released once results have been compiled and interpretation is complete. 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.
Jon Weisblatt, Rockridge's CEO, commented: "The Knife Lake Deposit continues to exceed our expectations and these results illustrate why we believe Knife Lake and the surrounding target areas represent a potentially world-class, base metal project in a top mining jurisdiction. The high-grade results from Knife Lake further demonstrate how robust the near-surface copper deposit is as it acts as an anchor for several other prospective targets in the region. Furthermore, the initial results received from one hole at the regional target at Gilbert South illustrate how prospective the target area is, as it shows similarities to the initial results from the Knife Lake Deposit in the early days of the discovery. We are garnering a much better understanding of the geology and these results are supportive of our thesis that Gilbert is part of a larger system common with VMS-style deposits. We will have news forthcoming on the remaining drill holes as well as plans for exploration at the project in 2023."
Drilling at the Knife Lake Deposit (follow up to the 2019 and 2021 drill programs) returned 1.91% Cu, 0.23 g/t Au, 7.79 g/t Ag and 0.30% Zn (2.32% CuEq) over 15.75m beginning at 13.00m in hole KF22029.
2022 drill program completed 939 meters in six drill holes; four holes reported here with assays pending for two additional holes.
Highlight drill intercepts at the Gilbert South target area include pyrrhotite-pyrite dominant VMS-style mineralization hosted at the same stratigraphic horizon as the Knife Lake Deposit.
Drilling focused on discovering VMS style copper deposits along newly defined conductors at Gilbert South and Gilbert West as well as at the Knife Lake VMS deposit.
The Knife Lake Deposit is thought to be a remobilized portion of a "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.
Over 300 holes provided data for first NI 43-101 resource estimate of the shallow Knife Lake deposit.
Knife Lake NI 43-101 resource estimate from 2019 provides excellent anchor for Project and includes indicated resources of 3.8 MT at 1.02% CuEq. (3.8 MT at 0.83% Cu, 3.7 g/t Ag, 0.097 g/t Au, 82 ppm Co,1740.7 ppm Zn) as well as inferred resources of 7.9 MT at 0.67% Cu Eq (7.9 MT at 0.53% Cu, 2.4 g/t Ag, 0.084 g/t Au, 53.1 ppm Co, 1454.9 ppm Zn).
There is strong discovery potential in and around the deposit as well as at regional targets on the Property; modern exploration techniques and methods are being utilized with a goal of making new discoveries.
Planning is underway for 2023 exploration programs.
Summer Diamond Drilling Program:
The focus of the 2022 drill program was continued infill and expansion drilling at the deposit, with the intent of upgrading existing mineral resource estimates and to better understand the geology at the Knife Lake Deposit. In addition to the Deposit drilling, exploratory drill holes were completed at the highly prospective Gilbert Lake target area. The program consisted of 936m total metres drilled in six drill holes with four holes drilled at the Deposit.
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. The drilling at the Gilbert Lake South target area further investigated strike-length continuity of the mineralized horizon intersected in 2021 drilling, which remains open to the south. The holes also evaluated potential zoning of mineralization, which is commonly observed in VMS systems.
Furthermore, drilling at a newly discovered copper showing at the Gilbert West Area targeted the down-dip extension of a mineralized and intensely altered volcanic package which is interpreted to be the Knife Lake stratigraphic horizon. The Gilbert West target had never been drill tested.
Rockridge is planning follow-up exploration programs at Knife Lake and has received its exploration permit which is good through February 2024.
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About Rockridge Resources Ltd
Rockridge Resources (CVE:ROCK) is a publicly traded mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties in Canada and other mining-friendly jurisdictions. The Company's Raney Gold Project is a high-grade gold exploration project located in the same greenstone belt that hosts the world-class Timmins and Kirkland Lake lode gold mining camps. The Company's Knife Lake Project is in Saskatchewan, which is ranked as the #3 mining jurisdiction in the world by the Fraser Institute. The project hosts the Knife Lake deposit, which is a VMS, near-surface copper-cobalt-gold-silver-zinc deposit open along strike and at depth. Rockridge's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.