Rockridge Confirms Gold Discovery at Fatou Gold Project, Mali; Drilling Returns Up To 27m Grading 3.1g/tonne Gold
04 Oktober 2010 - 2:45PM
Marketwired
Rockridge Capital Corp. (TSX VENTURE: RRC) (the "Company") is
pleased to announce assay results from 38 reverse circulation drill
holes (3,789 metres) completed on the North Artisanal Area of the
Fatou Gold Project, Mali, West Africa.
-- The first phase of drilling (38 reverse circulation holes drilled to a
maximum depth of 100 metres from surface) tested 300 metres of strike of
the main Fatou gold in soil geochemical anomaly.
-- Five different gold zones have been identified, all 5 zones are open
along strike and to depth, four of which appear to be increasing in
width and grade to the north-west.
-- 15 of 21 drill holes in the core of the anomaly intersected widths of 2
to 55 metres, greater than 0.75 grams Au/tonne.
-- There are three additional gold in soil anomalies with a total strike
length of over 10 kilometres within the 250 square kilometre land
package that remain to be explored.
As a result of the positive Phase 1 RC drill results, a 10,000
metre Phase 2 diamond drilling programme is planned to commence in
November. Core drilling is anticipated to provide higher recoveries
and better technical information regarding the nature and
orientation of the mineralized zones. An additional 5,000 metres of
drilling will be allocated to an initial drill test of the other 4
regional soil anomalies. Highlights of the drill results from this
programme are presented in the following table:
---------------------------------------------------------
From To Width Grade
Hole Name (metres) (metres) (metres) (g/tonne Au)
---------------------------------------------------------
RCF-014 66.0 72.0 6.0 1.2
---------------------------------------------------------
And 94.0 100.0 6.0 1.6
---------------------------------------------------------
RCF-015 50.0 55.0 5.0 1.8
---------------------------------------------------------
And 79.0 86.0 7.0 0.7
---------------------------------------------------------
RCF-017 62.0 67.0 5.0 2.0
---------------------------------------------------------
RCF-021 18.0 45.0 27.0 3.1
---------------------------------------------------------
Including 30.0 45.0 15.0 5.2
---------------------------------------------------------
Including 37.0 39.0 2.0 27.7
---------------------------------------------------------
RCF-023 66.0 77.0 10.0 1.2
---------------------------------------------------------
RCF-025 11.0 14.0 3.0 2.8
---------------------------------------------------------
RCF-032 45.0 100.0 55.0 0.8
---------------------------------------------------------
Including 45.0 75.0 30.0 1.2
---------------------------------------------------------
RCF-033 46.0 59.0 13.0 0.7
---------------------------------------------------------
RCF-035 67.0 72.0 5.0 4.7
---------------------------------------------------------
RCF-036 19.0 66.0 47.0 0.8
---------------------------------------------------------
Including 52.0 66.0 14.0 1.6
---------------------------------------------------------
RCF-037 51.0 58.0 7.0 1.0
---------------------------------------------------------
Estimated true width of drill holes is between 75-95 percent of
reported width. Drill holes RCF 001, 002, 006, 009-011, 013, 016,
020, 024 and 030 returned no significant values. Please see the
full table of drill results posted on the Company's website.
About The Fatou Gold Project
The Fatou exploration permit, covering 250 square kilometres, is
located in southern Mali, about 250 kilometres south-east of the
capital city of Bamako and approximately 100 kilometres south of
Anglogold-Ashanti/Randgold's Morila gold mine. Access is excellent
via a paved highway from Bamako to Zantiebougou and then by
laterite road to the permit area.
Under the terms of the Option Agreement, Rockridge can acquire a
100% interest in the Fatou Project exploration license by making
payments totaling US$800,000 over two years of which an initial
payment of US$100,000 has been made. To maintain its option,
Rockridge is required to make further payments of US$300,000 on or
before December 22, 2010 and US$400,000 on or before December 22,
2011. Rockridge is also required to complete a minimum of 5,000
metres of exploration drilling during the first year of the term of
the Agreement. Rockridge is the Operator of the project. At such
time as Rockridge elects to move from an exploration license to an
exploitation permit and upon issuance of an exploitation permit by
the Malian government, a new company will be formed and the owners
of that company will be Rockridge 85%, the Mali Government 10%, and
the Optionor, Bagoe, 5%. The interests of the Mali Government and
Bagoe in the new company will be carried interests. Bagoe will also
retain a 2% NSR in the Fatou project. Rockridge will have a right
of first refusal to purchase Bagoe's 5% carried interest in the new
company and its 2% NSR.
Mr. Lorne Warner, P. Geo, Director and VP Exploration, is the
Qualified Person for the Company under NI 43-101. All samples were
collected on site and sent to ALS-Chemex in Bamako for analysis.
The company inserts a standard, blank and requests a duplicate
sample be run in every batch of 20 samples. In addition, the lab
inserts in-house blanks, standards, and duplicates with each
shipment. Data that falls outside the control limits are checked
and repeated as necessary.
ON BEHALF OF THE BOARD OF DIRECTORS OF ROCKRIDGE CAPITAL
CORP.
Karl Kottmeier, President
The TSX Venture Exchange has in no way passed upon the merits of
the proposed transaction and has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
press release.
Contacts: Rockridge Capital Corp. Karl Kottmeier President (604)
678 8941 Rockridge Capital Corp. Kirk Gamley VP Corporate
Development (604) 678 8941 (604) 689 7442 (FAX)
www.rockridgecapital.com
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