Rockridge Resources Completes Non-Brokered Flow-Through Financing and is Planning to Commence Drill Program at Raney Gold Project
April 12 2023 - 8:00AM
Rockridge Resources Ltd. (TSX-V:
ROCK) (OTCQB:
RRRLF)
(Frankfurt: RR0)
(“Rockridge”) (the “Company”) is pleased to announce that it has
completed a non-brokered flow-through private placement financing
for total gross proceeds of $472,500 (the “Private Placement”). The
Company has issued 9,450,000 flow-through units (the “FT Units”) at
a price of CAD $0.05 per FT Unit.
Each FT Unit is comprised of one common share
and one warrant, each warrant entitling the holder to purchase one
non-flow through common share for a period of thirty-six months at
a price of CAD $0.07. In addition, the Company has paid finder's
fees totaling $32,550 and issued an aggregate 651,000 finder's
warrants to arm's-length parties, with each finder’s warrant
entitling the holder to purchase one common share for a period of
thirty-six months at a price of CAD $0.07.
The Company intends to use the flow-through
proceeds from this Private Placement for exploration activities and
the upcoming drilling program starting in May at its Raney Gold
Project southwest of Timmins, Ontario. Rockridge is now funded and
permitted for this drill program that will consist of a minimum
2,500m of drilling in 10-12 diamond drill holes with the potential
to be expanded.
Raney Gold Project
Regional Geology
Map:https://rockridgeresourcesltd.com/_resources/images/Rockridge-RandyGold-RegionalGeo.jpg
The historical geophysics and previous drilling,
including hole RAN-20-06 which returned 27.9 g/t Au over 6.0m at
approximately 100m vertical depth, has identified several key
structures that could potentially be host to new high-grade gold
zones. This planned drill program will utilize all exploration data
to date with the goal to test the strike potential and depth
continuity of high-grade gold mineralization intersected in
previous holes. Specifically, the Company plans on testing the
eastward and westward continuity of the Main Raney Gold Zone where
there are coincident geophysical anomalies that have yet to be
drill tested. Additional news will be forthcoming on the drilling
program.
About Rockridge
Resources Ltd.:
Rockridge Resources is a public mineral
exploration company focused on the acquisition, exploration and
development of mineral resource properties in Canada, specifically
copper and gold. The Company’s 100% owned Knife Lake Project is
located in Saskatchewan which is ranked as a top mining
jurisdiction in the world by the Fraser Institute. The project
hosts the Knife Lake Deposit, which is a VMS, near-surface
Cu-Co-Au-Ag-Zn deposit open along strike and at depth. There is
strong discovery potential in and around the deposit area as well
as at regional targets on the large property package.
Rockridge’s gold asset is its 100% owned Raney
Gold Project, which is a high-grade gold exploration project
located in the same greenstone belt that hosts the world class
Timmins and Kirkland Lake lode gold mining camps. Recently reported
drill hole RN 20-06 intersected 28.0 g/t gold over 6.0 metres at a
shallow vertical level of 95 metres, which is the best result from
the project thus far. Rockridge’s goal is to maximize shareholder
value through new mineral discoveries, committed long-term
partnerships, and the advancement of exploration projects in
geopolitically favourable jurisdictions.
Additional information about Rockridge Resources
and its project portfolio can be found on the Company’s website at
www.rockridgeresourcesltd.com.
Rockridge Resources Ltd.
“Jonathan
Wiesblatt” Jonathan
WiesblattCEO
For further information contact myself or:
Jordan Trimble, President orNicholas Coltura, Corporate
CommunicationsRockridge Resources Ltd.Telephone: 604-558-5847Toll
Free: 800-567-8181Facsimile: 604-687-3119Email:
info@rockridgeresourcesltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
The securities offered have not been, and will
not be, registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any U.S. state securities
laws, and may not be offered or sold in the United States or to, or
for the account or benefit of, United States persons absent
registration or an applicable exemption from the registration
requirements of the U.S. Securities Act and applicable U.S. state
securities laws. This press release does not constitute an offer to
sell or the solicitation of an offer to buy securities in the
United States, nor in any other jurisdiction.
This release includes certain statements that
may be deemed to be "forward-looking statements". All statements in
this release, other than statements of historical facts, that
address events or developments that management of the Company
expects, are forward-looking statements, including the Private
Placement. Although management believes the expectations expressed
in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ
materially from those in the forward-looking statements. The
Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change. Factors that could cause actual results to
differ materially from those in forward-looking statements, include
market prices, exploration and development successes, regulatory
approvals, continued availability of capital and financing, and
general economic, market or business conditions. Please see the
public filings of the Company at www.sedar.com for further
information.
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