Rogue Announces Completion of Initial Stripping at Silicon Ridge, and Plans for Drilling Gold Targets at Radio Hill in Ontario
TORONTO, ON--(Marketwired - August 14, 2017) -
- 4,500 m3 successfully stripped to expose the bedrock for detailed mapping and sampling at Silicon Ridge
- Complete air photo survey conducted by drone of the Project Area
- Company is applying to drill up to 2,500m across very promising gold showings at Radio Hill in Ontario
- Targeting priority structural targets along the interpreted western continuation of the Porcupine Destor Fault Zone (PDFZ) across property
Rogue Resources Inc. (TSX VENTURE: RRS) ("Rogue" or the "Company") is pleased to announce completion of the initial stripping across its 100% owned Silicon Ridge Project ("Project"), located approximately 42 kilometres ("km") north of Baie-Saint Paul, Québec, and 4 km northeast of Sitec's operating silica mine.
Working with Enterprise Jacques Dufour et Fils ("EJD") as its Contract Operator, Rogue completed the previously approved, fully funded exploration work program on the Project (see April 27, 2017 news release). This work included the stripping of overburden to expose the bedrock for detailed mapping and sampling and to confirm the depth of the overburden in the area. This information will benefit the Company by providing important data regarding the continuity of quartzite quality and to improve the estimate of overburden volumes to be removed from the potential first area to be quarried. Once permitted and if a positive development decision is made (now expected in 2018), this stripped quartzite would be the site of initial production.
"EJD did a very good job on this initial work, safely completing the scope provided to them. I visited the site last Thursday and Friday and saw firsthand the continuity of the quartzite and the care shown for the local environment and neighbours during the project," said Sean Samson, President and CEO of Rogue.
Radio Hill Exploration
Rogue is excited to announce a plan to drill at its Radio Hill property, which comprises a 1,800 hectare land package located 85 km southwest of Timmins, Ontario. The Company plans to drill priority structural targets along the interpreted western extension of the Porcupine-Destor Fault Zone ("PDFZ"), one of the most productive gold structures in the world. There are toll processors throughout the area and drilling in their proximity is consistent with Rogue's strategy of leveraging assets with a view to identifying positive cash flow opportunities. This has also been a very active district recently for transactions and investment, with Tahoe Resources (formerly Lakeshore Gold's Timmins West mine, 45 km away, plus the recently discovered 144 Exploration Area), Goldcorp's acquisition of the Borden Gold Project (85 km away) and Probe Metals' recent acquisition of the Ivanhoe Project located to Radio Hill's west.
The Company is in the process of applying for exploration permits and plans to initiate the drill program in the fourth quarter of this year.
"We are excited to get back drilling and begin to explore the gold potential of Radio Hill. Much value generation occurs in our industry, especially in the PDFZ, from the drill-bit. If we find gold here, we should be able to monetize it," said Sean Samson. "As mentioned last Thursday, Rogue is continuing with a re-prioritization of opportunities across our portfolio and externally, following our stated criteria this gold drilling is in line with that strategy."
About Rogue Resources Inc.
Rogue is a mining company focused on identifying positive cash flow opportunities. Not tied to any metal, it looks at rock value and good grade deposits that can withstand all stages of the metal price cycle. The Company remains focused on advancing its Silicon Ridge Project, exploring its other assets, including Radio Hill, and identifying additional assets to meet its criteria.
For more information visit www.rogueresources.ca
Qualified Person
The Silicon Ridge Project and the Radio Hill Property are under the direct supervision of Paul Davis, P.Geo., VP, Technical and Director of the Company and a QP as defined by National Instrument 43-101. The QP has approved the scientific and technical content of this release.
On Behalf of Rogue Resources Inc.
Sean Samson
President & CEO, Director
Neither the 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 news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release may constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, and that actual results are consistent with management's expectations. These statements include, among others, statements with respect to development activities and their timing, resource estimates and potential mineralization, the PEA, including estimates of capital costs, anticipated internal rates of return, mine production, processing recoveries, mine life, estimated payback periods and net present values, timing with respect to permitting of the Project, the budget and timing with respect to planned drilling on the Company's Radio Hill property and the identification and potential acquisition of other assets. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, those matters identified in its continuous disclosure filings, including its most recently filed MD&A, changes in regulatory environments, environmental compliance, operating and capital cost escalation, ability to raise project financing and silica pricing. Additional factors include delays in obtaining or inability to obtain required regulatory approvals, permits or financing, risk of unexpected variation in mineral resources, grade or recovery rates, processing plant failure, equipment or processes to operate as anticipated, of accidents, labour disputes, the risk that estimated costs will be higher than anticipated, the risk that the proposed mine plan and recoveries will not be achieved, equipment breakdowns, bad weather timing and success of exploration and development activities, mineral resources are not as estimated, title matters, third party consents, operating hazards, product prices, political and economic factors, competitive factors and general economic conditions. Should any of such assumptions prove to be incorrect or such risks become actual events, than the value of the Company's securities may decline. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Contact
For additional information regarding this news release please contact:
Sean Samson
sean@rogueresources.ca
