Rockridge drills 2.32% CuEq over 15.75 metres at Knife Lake, Saskatchewan

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Rockridge Resources Ltd. [ROCK-TSXV; RRRLF-OTCQB; RR0-FSE] reported initial results from its recently completed diamond drilling program at its 100%-owned Knife Lake copper project located 130 km north-northwest of Flin Flon, Saskatchewan, Canada.

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 that is host to the Knife Lake Deposit.

Jon Weisblatt, 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.”

Highlights: Drilling at the Knife Lake Deposit (follow up to the 2019 and 2021 drill programs) returned 1.91% copper, 0.23 g/t gold, 7.79 g/t silver and 0.30% zinc (2.32% CuEq (copper equivalent) over 15.75 metres beginning at 13.00 metres in hole KF22029.

The 2022 drill program completed 939 metres 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.

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.

Drill hole KF22027 intersected a broad zone of mineralization from 31.35-50.35 metres which returned 0.68% Cu, 0.09 g/t Au, 2.77 g/t Ag, 0.12% Zn and 0.01% Co (0.86% CuEq) over 19.00 metres. This includes a 0.55-metre interval (from 39.95-40.50m) which returned 3.39% Cu, 0.39 g/t Au, 13.45 g/t Ag and 0.56% Zn (4.00% CuEq).

Mineralization in drill hole KF22028 was present in three intervals, a broad upper interval which returned 0.42% Cu, 0.05 g/t Au, 1.61 g/t Ag, 0.21% Zn and 0.01% Co (0.60% CuEq) over 18.68 metres (from 23.55-42.23m), followed by two lower intersections of 2.88 metres (from 52.5-55.38m) which returned 0.26% Cu, 0.02 g/t Au, 0.97 g/t Ag, 0.06% Zn (0.33% CuEq), and 6.10 metres (from 61.00-67.10m), which returned 0.54% Cu, 0.05 g/t Au, 2.39 g/t Ag, 0.1% Zn, 0.01% Co (0.63% CuEq).

Drill hole KF22029 intersected a broad zone of mineralization over 15.75 metres (from 13.00m-28.75m) which returned 1.91% Cu, 0.23 g/t Au, 7.79 g/t Ag, 0.30% Zn and 0.01% Co (2.32% CuEq). This zone can be further divided into an upper interval (from 19.67m-23.50m) which returned 3.79% Cu, 0.39 g/t Au, 15.86 g/t Ag, 0.42% Zn, 0.01% Co (4.41% CuEq) over 3.83 metres, and a lower interval (from 25.00-28.75m) that returned 2.41% Cu, 0.26 g/t Au, 9.43 g/t Ag, 0.19% Zn and 0.01% Co (2.83% CuEq) over 3.75 metres.


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