High Grade Copper Intersected In Initial Drill Holes At Knife Lake Project
VANCOUVER, BC - Rockridge Resources Ltd. reported results from the first two drill holes of its inaugural winter drill program at its flagship Knife Lake Project located in Saskatchewan. Interpretation and QA/QC has been completed on the first two holes and additional results on the remaining ten holes will be released as interpretation and QA/QC work is completed. Rockridge recently entered into an Option Agreement with Eagle Plains Resources Ltd. to acquire a 100% interest in the Property that covers the majority of the historical Knife Lake Cu-Zn-Ag-Co VMS deposit. The contiguous claims total approximately 85,196 hectares and are located approximately 50 km northwest of Sandy Bay, Saskatchewan.
Analytical results ranged from trace values to broad and high grade intercepts. Drill hole KF19001 intersected net-textured to fracture-controlled sulphide mineralization between 7.5m to 40.6m, returning 33.1m (core length) of 1.28% Cu, 0.12 g/t Au, 4.80 g/t Ag, 0.13% Zn, and 0.01% Co for an estimated 1.49% CuEq. Drill hole KF19002 intersected net-textured to semi-massive sulphide mineralization between 9.7m to 53.5m, returning 43.8m (core length) of 0.78% Cu, 0.07 g/t Au, 2.54 g/t Ag, 0.07% Zn, and 0.01% Co for an estimated 0.93% CuEq. Of note, anomalous gallium of up to 23.1 ppm and indium of up to 15.2 ppm were intersected in both the mineralized zones from holes KF19001 and KF19002. Drill holes KF19001 and KF19002 successfully confirmed mineralization in historical drill holes.
President and CEO, Jordan Trimble said, “We are excited to report the results from the initial two holes of the winter drill program as they illustrate the shallow, strong tenor of copper mineralization at the Knife Lake Project. Results from ten additional drill holes are pending which will provide steady news flow and catalysts over the near term. This inaugural drill program represents the first meaningful exploration carried out on the project in over eighteen years as we execute on our strategy of going back into overlooked projects in favorable jurisdictions and applying modern exploration techniques and methodologies to make new discoveries.”
The Company has completed twelve holes consisting of 1,053m of diamond drilling in the 2019 winter drill program. This represents the first work on the property since 2001 and has two primary objectives: confirm the tenor of mineralization reported by previous operators and expand known zones of mineralization. All activities will advance the project toward the goal of completing a NI 43-101 compliant mineral resource estimate.
Compilation and initial modeling indicates potential for expansion of the historical deposit at depth. The current drilling has been focused on resource upgrade and expansion as well as infill drilling between historical holes. The program will also give the Company’s technical team valuable insights into the property geology, alteration, and mineralization that will be applied to future regional exploration on the highly prospective and under-explored land package.
Knife Lake contains typical VMS mineralogy which has been significantly modified and partially remobilized during the emplacement of granitic rocks. Therefore, the known historical deposit may represent a remobilized portion of a presumably larger “primary” VMS deposit based on general observations about the mineralogy, mineral textures and metal ratios in the deposit. Most of the historical work consisted of shallow drilling at the deposit area with little regional work carried out and limited deeper drilling below the deposit. As a result, there is strong discovery potential both at depth and regionally.