Rockridge intersects high-grade gold at Raney Project

Rockridge Resources Ltd. [ROCK-TSXV; RRRLF-OTCQB] has completed nine diamond drill holes in a 2,070-metre diamond drilling program at its 100%-optioned Raney gold project located southwest of Timmins, Ontario. Assays have been received for the first six holes with a highlight intercept of 28.0 g/t gold over 6.0 metres (uncut).

The Raney gold project is a large prospective gold property covering 1,417 hectares located about 110 km southwest of the prolific gold district of Timmins. The drilling program entailed 2,070 metres in nine diamond drill holes; logging and sampling of the core have been completed, and assay results have been returned for six holes. Assays are pending for the remaining drill holes with visual indications of mineralization in the drill core.

The program tested the mineralized gold system along a strike extent of 225 metres, with the deepest hole at the 260-metre level. Drill hole RN 20-06 intersected 28.0 g/t gold over 6.0 metres (uncut) at a shallow vertical level of 95 metres. This newly discovered high-grade zone is 75 metres west of a historical drill hole that returned 6.5 g/t gold over 8.0 metres.

Gold mineralization is associated with broad intervals of higher concentrations of narrow quartz veins; the quartz veins are hosted in a steeply-dipping alteration zone dominated by intermediate volcanic rocks consisting of lapilli tuffs and bedded argillites, with lamprophyre dikes.

The broad alteration zone (structural corridor) that hosts the mineralization is open for expansion; historic mapping and surface sampling data show that the alteration zone may extend over several hundred metres, with no drilling completed over a large extent of this corridor.

A notable disruption in the airborne magnetic data approximately 2 km west of the current drilling and in line with the projected structural corridor provides a compelling target area for future exploration.

The property has excellent access and infrastructure; it is accessible by paved and forestry roads.

Newmont’s newest gold mine (Borden) located about 35 km west and Iamgold’s Cote development project is about 75 km southeast.

Rockridge’s CEO, Grant Ewing, commented, “The Raney drilling program was completed in a very timely and cost-effective manner. The high-grade intercept in hole six is highly encouraging, as is the fact that the broad alteration zone where the current drilling program was concentrated may extend for several hundred metres. No drilling has been conducted over a large extent of this corridor. The next steps regarding evaluation of the project will be determined following analysis of the complete assay results from the program.”

Jordan Trimble, Rockridge’s President, added, “Hole RN 20-06 represents the best drill intercept ever on the Raney gold project and further illustrates the high-grade, robust geological potential at the project. We successfully tested a new geological model and are excited to continue drill testing the project later this year.”

A summary of assay results for the first six holes is below:

Hole RN 20-01 returned 0.83 g/t gold over 8.9 m from 126.1-135.0 m.

Hole RN 20-02 returned 0.63 g/t gold over 8.5 m from 77.5-86.0 m and 1.39 g/t over 13.0 m from 102.0-115.0 m, including 3.72 g/t over 3.0 m from 103.0-106.0 m.

Hole RN 20-03 returned 0.52 g/t gold over 23.0 m from 239.0-262.0 m.

Hole RN 20-04 had no significant assays.

Hole RN 20-05 returned 6.45 g/t gold over 1.0 m from 110.0-111.0 m and 1.28 g/t over 2.0 m from 295.0-297.0 m.

Hole RN 20-06 returned 27.98 g/t gold over 6.0 m from 125.0-131.0 m, including 2.93 g/t over 1.0 m from 125.0-126.0 m, 71.28 g/t over 2.3 m from 128.7-131.0 m and 326 g/t over 0.5 m from 130.5-131.0 m. True widths are not estimated at this time.

A total of 2,070 metres in nine diamond drill holes were completed to assess the potential of the Raney gold project. Drilling focused on the main zone over a strike extent of approximately 225 metres that produced the best historic intercept of 6.5 g/t gold over 8.0 metres. The deepest hole of the current program tested down to the 260-metre level.

An upper zone of increased vein density has been noted where the historic visible gold intercepts occur. The high-grade intercept of 27.98 g/t over 6.0 metres from the current program was the fourth drill hole on the property to intercept visible gold, and all these occurrences were in the main zone near the 100-metre level.