Rockridge now permitted to drill Raney project near Newmont's Borden Mine

Rockridge Resources Ltd. plans to mobilize and commence an exploration drilling program at its Raney Gold Project located southwest of Timmins, in early September 2020. A permit for the program has been received providing for exploration activities including diamond drilling to be conducted over a three-year period.

The results of the recently completed summer field program at the Raney Gold Project assisted in delineating and prioritizing drill targets over the extensive structural corridor that hosts the high-grade gold mineralization. A minimum 3,000 metre diamond drilling program is planned to test the strike and down plunge extent of the high-grade intercepts identified during the previous drill program.

Raney Gold Project Location Map:
http://www.rockridgeresourcesltd.com/_resources/maps/location_map_may2020a.jpg

Highlights:

• The Raney Gold Project is a large prospective gold property covering ~2,800 hectares located ~110 km southwest of the prolific gold district of Timmins, Ontario
• Recent mineral staking to the west places the Raney Gold Project adjacent to Newmont Goldcorp’s Borden Gold Mine project
• A fully funded and permitted minimum 3,000 metre diamond drilling program (approximately 10 holes) is set to commence in early September 2020
• A phase-one drilling program completed earlier in the year (2,070 metres in nine diamond drill holes) to assess the potential of the mineralized gold system returned a highlight intercept of 28.0 g/t gold over 6.0 metres (see news release dated April 29, 2020); primary drill targets in the current program will test the down-plunge extension of this and other high-grade intercepts
• The results of the drone magnetometer survey completed during the summer field program were particularly useful in identifying the surface projection of the Raney mineralization, which suggests strong continuity of the structural corridor to the east and west, and identifies other potential targets on the Property
• Gold mineralization is associated with broad intervals of higher concentrations of narrow quartz veins hosted in an extensive structural corridor that may extend over several hundred metres, with no drilling completed over a large extent of this corridor; the mineralized structure is open along strike and at depth
• Property has excellent access and infrastructure and is accessible by paved and forestry roads

Magnetometer Survey Plan Map Showing Exploration Potential Along Extensive Structural Corridor:
http://www.rockridgeresourcesltd.com/_resources/images/Raney-Gold-Project-Summer-2020-Drill-Targets.jpg

Diamond Drilling Program:

The gold mineralization at the Raney Gold Project is associated with local concentrations of narrow quartz veins that occur within a structural corridor. The structural corridor that hosts the mineralization is up to 125 metres wide and extends well beyond the small area tested by drilling.

The results from the recently completed summer field program, which consisted of a drone magnetometer survey, detailed prospecting, mapping, and a geochem survey assisted in delineating and prioritizing target areas for drill testing. The drone magnetometer survey results were particularly useful in outlining the trace of the structural corridor which coincides with a low magnetic response, and the field mapping program led to a better understanding of the plunge direction of the high-grade gold mineralization.

A diamond drilling program of a minimum of 3,000 metres in approximately 10 diamond drill holes will be conducted to test priority targets along the prospective corridor and down-plunge of known high-grade zones. A primary drill target will be the down-plunge extension of the previously reported high-grade zone which returned 28.0 g/t Au over 6.0 m (uncut) from 125.0 m to 131.0 m in hole RN 20-06.

Cross Section of High-Grade Gold Mineralization in Hole RN 20-06:
http://www.rockridgeresourcesltd.com/_resources/projects/raney-project-drilling-section-20200730.jpg

Raney Gold Project Location:

The Raney Gold Project is located within the highly prospective west extension of the Abitibi Greenstone belt, proximal to several regional deposits. Newmont’s operating 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. IAMGOLD and JV partner Sumitomo Metals Mining recently decided to proceed with construction of their Cote gold project located 75 km southeast of Raney. The Cote project, estimated to contain gold reserves of ~7 million ounces (~236MT @ 0.96 g/t Au), is noted as a “world-class” deposit by IAMGOLD. GFG Resources is a close neighbour that has acquired a large land package in the area including its Pen and Dore Gold Projects.

Raney Gold Project Geology and History: 

A total of 2,070 metres in nine diamond drill holes were completed during the recent winter diamond drilling program. The drill program 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 back in 2010. Silicification and minor carbonate alteration were recognized, however gold mineralization appears to be closely related to intervals of high quartz vein density. 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 quartz veins crosscut and run parallel to a weak fabric, and range in thickness from 0.5 cm to 20 cm in width.

Tags: Northern Ontario / Exploration / Gold / All Articles