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Rockridge Announces Final Assay Results and Plans Next Phase of Exploration and Drilling for its Raney Gold Project, SW of Timmins

Jun 3, 2020

Rockridge Resources Ltd. has received assay results for the final three holes from its recently completed 2,070-metre diamond drilling program at its Raney Gold Project located southwest of Timmins.

The Raney Gold Project is located within the highly prospective west extension of the Abitibi Greenstone belt, proximal to several regional deposits. Newmont’s Borden Gold mine (reserves of 4.17 MT @ 6.38 g/t Au for ~860k oz. Au reported in 2015) is located 35 km west of Raney, and IAMGOLD’s Cote development project (measured and indicated resources of 355 MT @ 0.87 g/t Au for ~9.98 M oz. Au and inferred resources of 113 MT @ 0.7 g/t Au for ~2.4 M oz. Au) is located 75 km to the southeast of Raney. GFG Resources is a close neighbour that has acquired a large land package in the area including its Pen and Dore Gold Projects. Recent drilling success by GFG has resulted in attracting Alamos Gold as a strategic investor.

The limited drilling completed to date indicates that the gold mineralization is nuggety or uneven in distribution throughout the alteration zones, with some holes returning low-grade gold in close proximity to areas returning intervals of high-grade gold mineralization.

A summary of assay results for the final three holes are reported below (see news release dated April 29, 2020 for assay results of the first six holes). All three holes intercepted several areas of low-grade mineralization:

  • Hole RN 20-07 returned 0.62 g/t Au over 5.0 m from 35.0 m to 40.0 m; 0.69 g/t Au over 5.0 m from 89.0 m to 94.0 m; 0.57 g/t Au over 7 m from 112.0 m to 119.0 m, including 1.17 g/t Au over 3.0 m from 114.0 m to 117.0 m
  • Hole RN 20-08 returned 0.39 g/t Au over 6.0 m from 12.0 m to 18.0 m; and 0.7 g/t Au over 3 m from 76.5 m to 79.5 m
  • Hole RN 20-09 returned 0.42 g/t Au over 4.0 m from 51.0 m to 55.0 m; and 0.49 g/t Au over 2.0 m from 108.5 m to 110.5 m

True widths are not estimated at this time. See the Company’s website for the full assay tables.

Tags: Northern Ontario / Exploration / Gold / All Articles