TSX.V: REL
VANCOUVER, BC, Sept. 9, 2021 /CNW/ - Roughrider Exploration
Limited ("Roughrider") (TSXV: REL) is pleased to announce
results of surface exploration and an Induced Polarization
("IP") ground geophysical program completed this summer at
the Empire Mine property (the "Property") located on
northern Vancouver Island. Roughrider has an option to acquire a
100% interest in the Property by making staged cash and share
payments and completing certain exploration expenditure commitments
(as announced September 24, 2020).
Adam Travis, CEO of Roughrider
commented: "In late July, while we had crews on the Property
preparing for the IP program we continued prospecting areas that
have seen little to no historical exploration outside of the past
producing Merry Widow, Kingfisher and Benson Lake Mines. This work led to three new
skarn discoveries. These new discoveries show the potential for
other new discoveries to be made. While we could easily have
rushed to drill (and just twinned some of the historical drillholes
such as 2006 drillhole MW06-17 which returned 6.51 grams per tonne
("g/t") gold and 1.41% copper over 50.32 metres ("m")
without properly understanding the ore-mineralizing system, our
systematic and thorough compilation of over 100 years of historical
data and methodical surface exploration is now paying off. The
discovery of new gold, copper and zinc showings along with new
strong and significant IP anomalies as much as 2 kilometres
("km") away from previous workings indicates that the Empire
Mine area is part a much larger mineralized system than previously
known."
Prospecting Sampling Program
Rock and soil sampling was focused over the Battle Mountain,
Iron Lake and North Notch areas (see Figure 1). In total,
29 rock samples and 63 soil samples were collected. Rock
sample highlights are included in the following table.
Table 1: Empire Mine Property Rock Sample Highlights
Showing
|
Sample
ID
|
Sample
Type
|
g/t Gold
("Au")
|
% Copper
("Cu")
|
% Zinc
("Zn")
|
g/t Silver
("Ag)
|
Battle
Mountain
|
D330620
|
Rock
|
3.44
|
0.54
|
13.32
|
15.37
|
Battle
Mountain
|
D330623
|
Rock
|
1.92
|
0.89
|
0.10
|
19.86
|
Battle
Mountain
|
D330616
|
Rock
|
0.05
|
0.58
|
0.02
|
4.96
|
West
Marten
|
D330631
|
Rock
|
0.05
|
0.38
|
0.01
|
0.67
|
North
Notch
|
D330629
|
Rock
|
0.30
|
4.40
|
0.07
|
28.10
|
North
Notch
|
D330630
|
Rock
|
6.53
|
0.30
|
0.01
|
10.25
|
AT
Showing
|
D330610
|
Rock
|
38.40
|
22.90
|
0.29
|
157.00
|
Iron
Lake
|
D330603
|
Rock
|
0.02
|
0.32
|
0.01
|
1.09
|
Iron
Lake
|
D330604
|
Rock
|
0.34
|
0.80
|
0.01
|
6.64
|
This modest prospecting program discovered three new areas of
mineralization attesting to the under explored nature of the
project which historically appears to have only focused on the
immediate vicinity of the old pits. At Battle Mountain,
significant massive sphalerite (13.3% Zn), magnetite and copper
(0.89% Cu) was noted in boulders within a steep sided creek
drainage. Another new discovery of copper mineralization (West
Marten) was made up hill and west of the pits and showings
further attesting to the limited copper exploration that was
conducted around the magnetite iron ore pits. At North
Notch, a 5 m deep shaft was
re-discovered after almost 50 years of not being reported which
returned 6.5 g/t Au and 0.3% Cu and appears to have never been
drill tested. A brand-new discovery was made at the AT
Showing with massive chalcopyrite knots up to 30 centimeters in
width occurring along dyke margins appearing to trend up the hill
towards the Summit showing 500 m
away. At Iron Lake, infill soil sampling and prospecting
discovered massive magnetite sub crop and float along a logging
road returning up to 0.80% Cu.
Induced Polarization Program
In early August, Peter E. Walcott
and Associates completed a 3.75-line km IP geophysical survey along
strike to the north of the Merry Widow pit and one test line on
possible strike to the south of the Benson Lake Mine. In the Merry
Widow Pit area, the IP work has shown that the mineralized skarn
zones are associated with a moderate (18-24 mv/v) chargeability
anomaly that extends for at least 400
m in strike length of which less than half of that strike
length has seen significant drilling. The Whiskey Jack
showing a further 200 m north may
also link up with this trend with infill IP lines. Further to the
west, a brand new > 200 m diameter
strong chargeability anomaly was located in covered areas near the
edge of the Merry Widow Pluton and may indicate potential for the
discovery of new zones either within or adjacent to the pluton.
See Figures 1 and 2 for location of
new IP anomalies.
At the Benson Lake Mine, an initial test IP line has discovered
a strong (> 25 mv/v) chargeability anomaly > 200 m away from any known underground workings.
This anomaly was unknown previously and may represent potential for
the discovery of new semi-massive magnetite, chalcopyrite and gold
bearing massive sulphides that were mined historically (1968-1972)
at Benson Lake in zones up to 30 m
thick averaging 1.5 g/t Au and 1.5% Cu. Additional IP surveys in
this area are being planned and will be conducted as soon as the
geophysical team is able to complete.
Quality Assurance/Quality Control ("QA/QC")
Procedures
Soil samples were taken at 25 m
spacing but up to 150 m spacing in
areas around Iron Lake and between 20
m and 225 m spacing in the
southwest area. All samples were taken from the B horizon soil
profile.
Sampling completed on the project in 2021 was supervised by
on–site Roughrider personnel and sub-contractors who collected and
tracked samples and implemented a full QA/QC program using blanks,
standards and duplicates to monitor analytical accuracy and
precision. The samples were sealed on site and shipped to MSA Labs
in Langley BC for analysis. MSA
Labs' quality control system complies with global certifications
for Quality ISO9001:2008. Soil samples were dried and screened to
80 mesh and then analyzed in 20g samples with multi-element ICP-MS
Aqua Regia digestion (IMS-128). Rock samples were dried and crushed
to 70% passing 2mm mesh and split to 250g samples which were
pulverized to 85% passing 75μm. The samples were then analyzed by a
4 acid digestion multi-element ICP-MS (IMS-230). Gold assaying was
completed with FAS-111, a 30–gram fusion fire assay with AAS finish
with greater than 10 g/t Au assays completed with FAS-415, a
30-gram fusion fire assay with gravimetric finish. Silver assays
greater than 100 g/t were completed with ICF-6Ag, 4 acid, ICP-AES
ore grade analysis. Copper assays greater than 10,000ppm were
completed with ICF-6Cu, 4acid, ICP-AES ore grade analysis. Zinc
assays greater than 10,000ppm were completed with ICF-6Zn, 4 acid,
ICP-AES ore grade analysis.
Qualified Person ("QP")
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
within the context of Canadian Securities Administrators' National
Instrument 43-101; Standards of Disclosure for Mineral
Projects.
About Roughrider Exploration Limited
Roughrider's exploration focus is the optioned 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, Knob Hill NW Property located on northern Vancouver
Island as well as its 100% Sterling, Sandy and Home Brew properties
which are located in central B.C. Roughrider management also
continuously reviews strategic precious metals opportunities in
western North America.
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 contained in this release, maps or
figures regarding the Roughrider's Project or Adjacent Properties
cannot be relied upon as the Roughrider's QP, as defined under
NI43-101 has not prepared nor verified the historical
information.
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