TSX.V: REL
VANCOUVER, BC, Feb. 3, 2021 /CNW/ - Roughrider
Exploration Limited ("Roughrider" or the "Company")
(TSXV: REL) is pleased to announce the results from the
historical data review of its road accessible 15,764 hectares
Empire Mine Property (the "Property") located on northern
Vancouver Island, which can be explored almost all year round.
Roughrider has an option to acquire a 100% interest in the Property
by making staged cash and share payments and completing certain
expenditure commitments (as announced September 24, 2020).
The Empire Mine consists of a series of former workings (open
pit and underground), outcroppings and anomalies identified by
previous exploration including drilling. The footprint of the main
exploration target area covers approximately 400 hectares (2
kilometer ("km") x 2 km) with 10 principal target zones outlined
(see Figure 1). Roughrider believes that through a comprehensive
review of historical data and information leading to systematic
exploration across the entire Property using modern techniques it
will be able to significantly advance the Property.
Adam Travis, Roughrider CEO and
Director comments: "We recognized the copper-gold exploration
potential at Empire from our first property examination and our
initial review of historical records. It was clear that historic
exploration focused on only two zones: Empire Mines Merry Widow and
Kingfisher open pits and the underground Benson Lake mine operated
by Cominco in the 1970s. Our compilation work is indicating at
least 10 principal targets in a 2 km x 2 km area around these
former producing mines. It is also important to note that these
targets are concentrated in <5 % of the overall property,
indicating it's a great starting point but we've a much larger area
still to evaluate. Indeed, through analyzing the last
significant work programs, we have greatly advanced our knowledge
of the entire Property and generated several significant
exploration targets that were not tested during the last phase of
these historical exploration programs which took place relatively
recently between 2006 and 2010."
In November 2008, Grande Portage published a 43-101 technical
report on the Merry Widow open pit of 960,000 tonnes at 2.03
grams/tonne ("g/t") Gold ("Au") and 0.34% Copper
("Cu") ¹ & ². The historical results
published in this news release highlight significant
additional areas for potential discoveries both along strike and
down dip, and along the main trends associated with the past
producing Merry Widow open pit mine and Benson Lake underground
mine (see Figures 1,2 & 3).
Historical records and maps from 1972, when Cominco Ltd.
operated the Benson Lake Mine, indicate 454,500 tonnes at
0.59 g/t Au and 1.3 % Cu classified as "measured and indicated" and
a further 2,700,000 tonnes at 1.7% Cu ³ (no Au grade estimated) to
the 2100 level as of December 31, 1972 classified as "inferred".
While Roughrider notes that Cominco's historical results are not NI
43-101 compliant and have not been verified by the Company's QP,
these combined historical resources total nearly 3.154 million
tonnes and will help guide Roughrider's exploration programs for
2021.
Roughrider's historical review work has also identified
considerable exploration potential along the 1 km "Merry Widow
Trend" with at least 10 mineral showings having coincident airborne
magnetic highs and anomalous copper values in soils on trend with
the historical 2008 resource; and a 1 km trend south of the Merry
Widow Pit with 5 mineral showings, copper in soil anomalies. In
addition, a newly recognized and never publicly reported IP survey
indicates an untested 300 m x
400 m chargeability anomaly ³ (see
Figure 1).
Please refer to Figures 1, 2 & 3 that show Roughrider's
Cu-Au exploration targets at the Empire Mine Property. Per the
Company's news release of December 8, 2020, an initial budget of
$1 million has already been approved
from the existing treasury to advance exploration as soon as
permits are forthcoming and is expected to include up to
5,000 m of drilling.
Empire Mine Property - 1 km NNE Merry Widow Cu-Au
Trend
Target #1: Down Dip of Historical Merry Widow
Resource: Compilation of the 2008 Grande Portage
historical resource in the context of historical underground
sampling and geological mapping has indicated prospective areas
down dip and down plunge of the historical resource towards the
Merry Widow Pluton that have not been tested.
Target #2: Along Strike to the North of the Merry Widow
Resource (Copper Knob/Gossan Zone): This area appears to be the
up dip and the northerly projection of the 2008 historical resource
where Roughrider previously reported channel sampling results (as
announced October 20, 2020) highlighted by results from Copper Knob
returning 9.77 g/t Au and 2.35% Cu across 10.5 m. Although a few previous drillholes were
collared in this area they were either not sampled and/or not
collared to adequately test the orientation of the mineralization
noted in our channel sampling.
Target #3: Subparallel Mineralized Structure Never Drilled
(Raven Pit): The Raven magnetite body is located at the
southwesterly end of a >300 m long
northeasterly trending zone of greenstone associated with a
northeasterly trending fault that is approximately 100 m west of the Merry Widow trend. The pit was
excavated in the 1960's and is now completely covered by
surrounding waste rock piles but reportedly consisted of magnetite
with associated sulphides pyrrhotite, pyrite, sphalerite and
chalcopyrite. High sulphide content made the magnetite deposit
uneconomic, and after extracting some 20,000 tonnes, the pit was
abandoned ⁵. No exploration drilling appears to have been
undertaken at the Raven Pit or along its northeasterly trending
fault structure.
Target #4: Along Strike to the North of the Merry Widow
Resource (North Notch-Whiskey): Channel Sampling by Roughrider
of the North Notch Showing (as announced October 20, 2020) has returned values of up to
0.70 g/t Au and 2.43% Cu across 5.1
m. Seven historical drillholes have been drilled in this
area and have returned values up to 8.57 g/t Au and 0.72% Cu across
5.0 m in drillhole DDH89-030 ⁶. At
Whiskey Jack, skarn mineralogy consists of diopside, garnet,
epidote, actinolite and chlorite. Diamond drilling has indicated a
mineralized zone that measures 90 m
by 45 m ⁷. The zone strikes northeast
and dips steeply to the southeast. These historical drillhole
intercepts and mineralized surface outcrops have encouraging
results and future exploration is warranted.
Target #5: Along Strike to the North of the Merry Widow
Resource (Summit -Summit North): Chip sampling by Roughrider in
the Summit Showing Area (as announced October 20, 2020) of sulphidized volcanics have
returned values of 0.16 g/t Au and 0.11% Cu over 17.0 m. Elsewhere on the Property, the contact
between the underlying limestones and overlying volcanics or
sediments is a favourable setting for mineralization. Copper in
soil anomalies are noted in the underlying limestones to the east
and this, along with the magnetic trend from Merry Widow, suggest
the potential for underlying mineralization beneath the shallow
volcanic cap rocks. Two drillholes in the area were dominated by
volcanics with weakly anomalous gold and copper, and better testing
of the favourable horizons and structures is required.
Target #6: Along Strike to the South of the Merry Widow
Resource (Marten, Lower Marten and South Pit): Two mineral
showings and an arm of the Merry Widow Pit (South Pit) occur over a
250 m strike south of the Merry Widow
Pit where the primarily NNE trend warps into a more north-south
trend. The Marten showing was channel sampled by Roughrider (as
announced October 20, 2020) and
returned values of 2.89 g/t Au and 0.32% Cu across 10.0 m. Substantial amount of drilling was
undertaken on the Marten showing in 2007 which indicates that known
mineralization forms a < 5 m thick
zone of massive magnetite and pyrrhotite near the
limestone/volcanic contact over a < 50
m strike. Drillhole MW07-72 intercepted 4.50 m grading 9.25 g/t Au and 0.702 % cobalt
("Co") ⁸. The Lower Marten showing was the
location of five drillholes which were abandoned and failed to test
the target. Mineralization at Lower Marten appears to cut up
through limestones unlike the blanket style mineralization at
Marten. This 250 m area south of the
pit remains a high priority where the projected mineralized trends
intersect the Merry Widow Pluton and where substantial albeit
narrow gold, copper and cobalt values have been returned.
Empire Mine Property - 1 km South Merry
Widow Cu-Au Trend
Target #7: Snowline, Bluebird 1, Bluebird 2, Jem and
Radio: These 5 mineral occurrences occur along a 1 km trend
south of the Merry Widow Pit. Channel sampling by Roughrider at
Snowline (as announced October 20,
2020) returned 5.37 g/t Au and 0.32% Co across 1.0 m and at Bluebird 2 returned 3.17 g/t Au and
0.22% Cu across 2.0 m. Grab samples
in the Bluebird 1 showing returned 11.2 g/t Au and 2.13% Cu.
Digitization and data input of a 1990 Noranda IP Survey indicates a
200 m in diameter IP chargeability
anomaly at Snowline and a 300 m x
400 m chargeability high downslope of
the Bluebird 1 & 2 showings which appears untested ³.
Drilling in 1990-1991 at Bluebird 1 and 2 included 6
drillholes totaling 202.1 m (4
drillholes from 1990 which totaled 48.9
m were noted with no assays or geology). Drillhole NMW91-49
intersected 1.67 m grading 0.367 g/t
Au and 0.17% Cu from 59.84 m ⁹. The
Snowline showing was drilled by 2 drillholes in 2007 located along
a road and failed to return significant results but also appear to
have not properly tested underneath the showing or an adjacent
Airborne EM Anomaly. The Company is encouraged by the presence of
showings and anomalous rock and drill results which cluster around
these untested geophysical anomalies.
Two other showings (Jem and Radio) occur further to the south
where only modest work has noted skarn style mineralization.
Empire Mine Property - 1 km South Benson Lake Cu-Au
–Trend
Target #8: Road Showing and Cominco Resource
Block: The Road Showing was channel sampled by Roughrider
(as announced October 20, 2020) and
returned 0.19 % Cu across 6.5
m. The area was tested with 1 drill hole in 2006
(MW06-24) which intersected 1.04m of
skarn alteration at the contact zone. Near the Cominco Resource
Block drillhole MW07-51 was drilled and intersected 1.5m grading 0.11 g/t Au and 0.72% Cu from
327.0 m ⁸. Drillhole MW06-25 drilled
from the same location intersected 2.54
m grading 0.65 g/t Au and 0.27% Cu from 266.6 m ¹⁰. These drillholes appear to have not
properly tested the historic resource area defined by Cominco,
which had historic underground drill intercepts of 0.76m grading 6.09% Cu, which were noted in a
1972 plan map ¹¹.
Target #9: Coincident Magnetic and Chargeability High 1 km
South of Benson Lake Mine: A 300 m diameter IP Chargeability is located within
a prominent magnetic high trend 1 km south of the Benson Lake
Mine. Drilling in the area included 4 drill holes (MW06-27,
MW07-52, MW07-53, and MW07-54) that were located along the road and
were all vertical holes that were drilled outside of the coincident
chargeability and magnetic anomaly. The holes were dominated by the
Quatsino limestone with some
greenstone dikes and intermittent volcanic units and minor skarn
altered intervals. The best intercept reported was in drillhole
MW07-54 which intercepted 0.63 m
grading 1.20 g/t Au and 5.25% Cu from 710.82
m and 3.49 m grading 0.38 g/t
Au and 0.57% Cu from 732.70 m ⁸.
Although these intercepts are deep, they are considered very
encouraging at the same horizon as the Benson Lake Mine nearly 1 km
away especially given that they did not even test the main
chargeability anomaly.
Empire Mine Property - Between the Benson Lake and Merry
Widow Trend
Target #10: Keystone Intrusion: This area is located
southwest of the Benson Lake Mine in an area mapped as underlain by
the Keystone intrusions which have been noted at other showings and
past producing mines on the property to have a close spatial
association with mineralization. The Ministry of Mines Annual
Report in 1960 shows several occurrences of magnetite in the area
and this area is worthy of more prospecting and detailed
surveys.
Appendix 1
Table 1: Merry Widow Significant Diamond Drill Intercepts
¹⁰
DDH
ID
|
From
(m)
|
To
(m)
|
Length
(m)*
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
Co
(%)
|
Fe
(%)
|
MW06-08
|
1.53
|
75.00
|
73.47
|
4.51
|
6.05
|
0.31
|
0.019
|
15.49
|
including
|
6.32
|
47.85
|
41.53
|
7.59
|
8.65
|
0.42
|
0.024
|
19.29
|
which
includes
|
10.42
|
11.67
|
1.25
|
12.20
|
12.00
|
0.39
|
0.014
|
35.90
|
|
11.67
|
12.92
|
1.25
|
12.50
|
14.00
|
0.69
|
0.024
|
35.00
|
|
24.17
|
25.32
|
1.15
|
79.40
|
25.00
|
0.46
|
0.097
|
18.70
|
|
37.47
|
38.59
|
1.12
|
16.30
|
29.00
|
1.73
|
0.011
|
18.25
|
|
44.53
|
45.69
|
1.16
|
54.30
|
27.00
|
0.87
|
0.156
|
21.90
|
|
46.85
|
47.85
|
1.00
|
18.85
|
18.00
|
1.04
|
0.019
|
27.20
|
MW06-15
|
19.43
|
66.75
|
47.32
|
5.16
|
23.53
|
1.48
|
0.011
|
19.06
|
including
|
33.90
|
34.33
|
0.43
|
13.55
|
291.00
|
18.35
|
0.071
|
34.40
|
|
60.15
|
61.34
|
1.19
|
47.40
|
83.00
|
4.06
|
0.033
|
30.90
|
|
61.34
|
62.45
|
1.11
|
55.50
|
51.00
|
2.28
|
0.043
|
40.70
|
MW06-17
|
20.02
|
70.44
|
50.32
|
6.51
|
21.98
|
1.41
|
0.059
|
18.16
|
including
|
23.00
|
24.00
|
1.00
|
21.90
|
77.00
|
4.83
|
0.082
|
34.80
|
|
52.52
|
53.62
|
1.10
|
33.70
|
45.00
|
2.57
|
0.069
|
22.60
|
|
53.62
|
54.48
|
0.86
|
47.90
|
93.00
|
4.50
|
0.049
|
31.20
|
|
55.00
|
56.00
|
1.00
|
25.50
|
81.00
|
4.20
|
0.699
|
25.10
|
MW06-18
|
19.33
|
69.00
|
49.67
|
3.27
|
15.11
|
1.02
|
0.015
|
14.48
|
including
|
22.00
|
23.47
|
1.47
|
7.83
|
47.00
|
3.76
|
0.045
|
16.80
|
|
29.08
|
30.36
|
1.28
|
14.75
|
11.00
|
0.50
|
0.018
|
39.30
|
|
51.46
|
66.31
|
14.85
|
6.46
|
38.62
|
2.53
|
0.034
|
15.37
|
MW06-22
|
23.47
|
63.98
|
40.51
|
2.47
|
8.78
|
0.52
|
0.007
|
18.89
|
* The intervals reported in this table represent drill
intercepts and insufficient data is available at this time to state
the true thickness of the mineralized intervals and all gold values
are uncut
Table 2: Benson Lake Mine - Old Sport Horizon Historical
Underground Drill Drilling Significant Intercepts ¹¹
DDH
ID*
|
Hole
Type
|
Reported Length
(Feet)
|
Converted Length
(m)
|
Cu
(%)
|
Comments
|
C-1970-55
|
unknown
|
21.0
|
6.40
|
4.5
|
Previously
Mined
|
C-1970-24
|
unknown
|
12.0
|
3.66
|
6.9
|
Previously
Mined
|
C-1970-42
|
unknown
|
14.0
|
4.27
|
5.1
|
Previously
Mined
|
C-1970-53
|
unknown
|
14.0
|
4.27
|
5.1
|
Previously
Mined
|
C-1970-12
|
unknown
|
10.0
|
3.05
|
6.0
|
Previously
Mined
|
C-1970-17
|
unknown
|
11.0
|
3.35
|
3.8
|
Previously
Mined
|
C-1970-25
|
unknown
|
11.0
|
3.35
|
3.4
|
Previously
Mined
|
C-1970-23
|
unknown
|
12.0
|
3.66
|
2.9
|
Previously
Mined
|
C-1970-16
|
unknown
|
5.0
|
1.52
|
4.8
|
Not Mined
|
C-1970-05
|
unknown
|
4.5
|
1.37
|
2.9
|
Not Mined
|
C-1970-10
|
unknown
|
10.0
|
3.05
|
1.13
|
Not Mined
|
DDH68-7
|
DDH
|
2.5
|
0.76
|
6.09
|
Not Mined
|
* Assay results in this table are recorded from private company
plan maps of the Benson Lake Mine underground workings with notes
indicating it was completed after December
31, 1972. Laboratory certificates in these examples have not
been found in historical data search.
About Roughrider Exploration Limited
Roughrider's current exploration focus is the Empire Mine
Property, located on Northern Vancouver Island, B.C., which covers
three historical open pit mines and two past-producing underground
mines that yielded iron, copper, gold and silver. Roughrider's
other properties include its 100% owned Eldorado, Gin and Bonanza properties located
in the Golden Triangle of northern B.C. which are adjacent to the
Red Chris Mine as well as its 100% Sterling property which is
located in central B.C. Roughrider management also continuously
reviews strategic precious metals opportunities in western
North America.
Qualified Persons
The scientific and technical information contained in this news
release has been prepared, reviewed and approved by Wade Barnes, P.Geo. (British Columbia) of Tripoint Geological
Services, Roughrider's Geological Consultant and a Qualified Person
("QP") within the context of Canadian Securities
Administrators' NI 43-101; Standards of Disclosure for Mineral
Projects.
On Behalf of the Board of Directors:
"Adam Travis",
Adam Travis, Chief Executive
Officer and Director
Cautionary Notes Related to this News Release and
Figures
- Historical information, maps or figures contained in this
release regarding the Roughrider's Empire Mine Property or adjacent
properties cannot be relied upon as the Company's QP, as defined
under NI-43-101 has not prepared nor verified the historical
information.
- NI 43-101 Technical Report: Giroux, G.H., & Raven, W.
(November 30, 2008). Technical Report
on the Copper Gold Resources for the Merry Widow Property. Filed on
SEDAR January 22, 2009. The 2008
Grand Portage resource estimate was completed by Gary H. Giroux, P.Eng, MASc, of Giroux
Consulting Ltd. in Vancouver, B.C.
The estimate was based on a 3D geological model integrating 4,448
metres of diamond drilling of 43 drill holes, 2,290 assays, with
104 down-hole surveys collected between June and December 2006. The resource was reported
utilizing gold cut-off grades ranging from 0.10 g/t to 3.00 g/t
gold, as more particularly set out in the report. A complete copy
of the report is available on Grand Portage's public filings on
SEDAR (www.sedar.com). A gold cut-off grade of 0.50 g/t gold was
selected as representing one possible mining scenario. For the
purposes of the calculations, lognormal cumulative frequency plots
were used to assess grade distribution to see if capping of high
values was required and if so at what levels. For all elements,
capping levels were established based on the individual grade
distributions as follows: Gold -- a total of 18 gold assays were
capped at 32.0 g/t gold, Silver --a total of 9 silver assays were
capped at 165 g/t silver, Copper -- a total of 7 assays were capped
at 11.7% copper, Cobalt -- a total of 5 assays were capped at 0.48%
cobalt, Iron -- all iron assays were capped at 50% iron (the
analytical detection limit).
- Province of British Columbia Property File, Statement of
Material Facts: VSE 22/09/75, Quatsino Copper-Gold Mines
Limited
- CuEq Equation: Assumptions used in USD for the copper
equivalent calculation were metal prices of $3.50/lb. Copper, $1,800/oz Gold, $25/oz Silver, and recovery is assumed to be 100%
as no metallurgical test data is available. The following equation
was used to calculate copper equivalence: CuEq = Copper (%) + (Gold
(g/t) x 0.75) + (Silver (g/t) x 0.0104)
- British Columbia Assessment Report 19,178, Equinox Resources
Ltd, September 1989
- Province of British Columbia Property File, Diamond Drilling
Report On Merry Widow Property, PF012364, Taywin Resources Ltd
- British Columbia Minfile Record Summary, Minfile No. 092L047,
Whiskey Jack
- British Columbia Assessment Report 30,002, Grande Portage
Resources Ltd, April 2008
- Noranda Exploration Company, Drill Section Maps, February 1991, Private Files
- British Columbia Assessment Report 28,863, Grande Portage
Resources Ltd, December 2006
- Cominco Resources, Drill Section Maps "Plan of Cominco's Benson
Lake Operations on Empire Claims Showing Ore Reserves &
Proposed Exploration Program", 1970, Private Files
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
Certain information contained or incorporated by reference in
this press release, including any information regarding the
proposed Transaction, private placement, board and management
changes, as to our strategy, projects, plans or
future financial or operating performance, constitutes
"forward-looking statements." All statements, other than statements
of historical fact, are to be considered forward-looking
statements. Forward-looking statements are necessarily based on a
number of estimates and assumptions that, while considered
reasonable by Roughrider, are inherently subject to significant
business, economic, geological and competitive uncertainties and
contingencies. Although Roughrider believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance. Known and unknown factors could cause actual
results to differ materially from those projected in the
forward-looking statements. Such factors include but are not
limited to: fluctuations in market prices, exploration and
exploitation successes, continued availability of capital and
financing, changes in national and local government legislation,
taxation, controls, regulations, expropriation or nationalization
of property and general political, economic, market or business
conditions. Many of these uncertainties and contingencies can
affect our actual results and could cause actual results to differ
materially from those expressed or implied in any forward-looking
statements made by, or on behalf of, us. Readers are cautioned that
forward-looking statements are not guarantees of future performance
and, therefore, readers are advised to rely on their own evaluation
of such uncertainties. All of the forward-looking statements made
in this press release, or incorporated by reference, are qualified
by these cautionary statements. We do not assume any obligation to
update any forward-looking statements.
SOURCE Roughrider Exploration Limited