Raney Gold Project Location Map:
http://www.rockridgeresourcesltd.com/_resources/maps/location_map_may2020a.jpg
"We are excited to continue drilling the high-priority targets at our strategically located
Highlights:
The Raney Gold Project is a large prospective gold property covering ~2,800 hectares located ~110 km southwest of the prolific gold district ofTimmins, Ontario - A fully-funded and permitted minimum 3,000 metre diamond drilling program (approximately 11 holes) is now underway
- The program is being carried out by
Missinaibi Drilling Services Ltd. , a 100% Aboriginally owned and operated independent drilling contractor company; their management has many years of experience including substantial expertise in the Timmons district where they work with Newmont at theBorden Mine Project adjacent to theRaney Project - A drilling program completed earlier in the year (2,070 metres in nine diamond drill holes) to assess the potential of the mineralized gold system returned a highlight intercept of 28.0 g/t gold over 6.0 metres (see news release dated
April 29, 2020 ) - A recently completed summer field exploration program focused on delineating and prioritizing target areas along the broad gold bearing structural zone
- Gold mineralization is associated with broad intervals of higher concentrations of narrow quartz veins hosted in an extensive structural corridor that may extend over several hundred metres, with no drilling completed over a large extent of this corridor; the mineralized structure is open along strike and at depth
- Property has excellent access and infrastructure and is accessible by paved and forestry roads bringing the drill costs down
Diamond Drilling Program Plan:
The first five holes of the drill program will test priority targets down-plunge of known high-grade gold zones. Specifically, a primary drill target will be the down-plunge extension of the previously reported high-grade drill intercept which returned 28.0 g/t Au over 6.0 metres (uncut) from 125.0 metres to 131.0 metres in hole RN 20-06.
Cross Section of High-Grade Gold Mineralization in Hole RN 20-06:
http://www.rockridgeresourcesltd.com/_resources/projects/raney-project-drilling-section-20200730.jpg
The results of the recently completed drone magnetometer survey completed during the first phase summer field program suggest strong continuity of the structural corridor along strike and identified other targets on the property. Based on the magnetic survey data, the structural corridor potentially extends west toward an area where a nose fold structure may exist. Approximately six holes are planned to test the strike extent of this prospective structural corridor that hosts the known gold mineralization at Raney.
Magnetometer Survey Plan Map Showing Exploration Potential Along Extensive Structural Corridor:
http://www.rockridgeresourcesltd.com/_resources/images/Raney-Gold-Project-Summer-2020-Drill-Targets.jpg
Raney Gold Project Location:
Raney Gold Project Geology and History:
A total of 2,070 metres in nine diamond drill holes were completed during the recent winter diamond drilling program. The drill program focused on the main zone over a strike extent of approximately 225 metres that produced the best historic intercept of 6.5 g/t gold over 8.0 metres back in 2010. Silicification and minor carbonate alteration were recognized, however gold mineralization appears to be closely related to intervals of high quartz vein density. The quartz veins are hosted in a steeply dipping alteration zone dominated by intermediate volcanic rocks consisting of lapilli tuffs and bedded argillites, with lamprophyre dikes. The quartz veins crosscut and run parallel to a weak fabric, and range in thickness from 0.5 cm to 20 cm in width.
A zone of increased vein density has been noted where the historic visible gold intercepts occur. The recently drilled high-grade intercept of 28.0 g/t over 6.0 metres (uncut) from the 2020 winter program was the fourth drill hole on the Property to intercept visible gold, and all these occurrences were in the main zone near the 100-metre level. The broad structural corridor that hosts the mineralization is up to 125 metres wide and extends well beyond the area tested by drilling. No drilling has been conducted along this corridor except for the ~225-metre-long main zone.
Historical drilling at the
A 100 metre-wide intensely sheared and altered quartz-feldspar porphyry body is located just to the south of the main Raney gold showing. Gold mineralization exposed on the surface and intersected in drill holes on the property is typical of the lode gold class of gold deposit which is the dominant gold deposit type in the Abitibi Greenstone Belt. Gold mineralization on the property is associated with the intensely sheared and altered zones within the felsic tuffs, and higher grades tend to occur where quartz veining is present.
The Property is in the Archean
Qualified Person:
About
Additional information about
“Grant Ewing”
CEO
For further information contact myself or:
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@rockridgeresourcesltd.com
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Forward Looking Information
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
Source:
2020 GlobeNewswire, Inc., source