Rogue Announces Initial High Purity Analytical Results from Snow White Diamond Drill Program, Receives Hauling Permit for 2018
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES
|
||||||||||
- 2018 drilling campaign totalled 1910 metres, focussed on the Snow White Main Zone
- Metallurgical analysis underway with ANZAPLAN (Germany)
- Initial analytical results from 7 drillholes confirms high purity silica mineralization through the Main Zone
- Preliminary identification of an additional quartz zone to the South, requiring more review
- Agreement signed with the Township of Sables-Spanish Rivers, for 2018 Hauling Permit
TORONTO, July 03, 2018 (GLOBE NEWSWIRE) -- Rogue Resources Inc. (TSX-V:RRS) (“Rogue” or the “Company”) is pleased to announce initial analytical results from the 2018 drilling campaign on the Snow White quartz project, located near Massey, Ontario, Canada (“Snow White” or the “Project”). Analytical results from the first 7 holes of the 36 hole diamond drill hole program submitted to ALS Global are reported and have confirmed the high purity silica mineralization previously identified in surface sampling and historic diamond drill holes. A total of 1910 metres of diamond drilling were completed (vs. the 1800 metres originally planned) on the Main Zone of the Snow White Property in May and June of 2018. Drilling was designed to test the Main Zone on 20 metre sections with a 10 metre hole separation.
The drill results reported in this release are from the Snow White Main Zone and are testing the continuity of the silica grade, the distribution of impurities within the quartz vein and the overall dimensions of the silica mineralization. Significant widths of high purity silica were encountered during the drill program that meet or exceed the specifications required for silicon metal production. The drill hole locations for the reported analytical results are summarized in Table 1 and the analytical results have been summarized in Table 2.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/cabb6cc7-2354-4af5-9821-9adf29685442
“These initial high purity drill results received for the first 7 holes on the Snow White Project from the 2018 drill program were highly successful in confirming the presence of high purity silica from the Main Zone,” states Paul Davis, Vice President Technical. “Some drill intercepts reported meet or exceed the specifications required for silicon metal production without any additional sorting and based upon our examination of the drill core and the distribution of granitic inclusions and trace minerals and when combined with the positive optical sorting tests, I am certain that a majority of silica mineralization will meet or exceed these specifications after sorting, using Direct-Ship. In addition to the commodity market, the physical characteristics of the quartz, including colour, make it a potentially attractive product for specialized markets with some further processing and upgrading.”
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/929cb839-de0a-4a23-9336-87955e3eded8
Rogue’s technical team continues to validate the drill hole data, analytical results and interpretations of the silica mineralization and is working closely with M.Plan International Limited (“M.Plan”) in this analysis. M.Plan continues their preparation of an initial mineral resource estimate for the Main Zone at the Snow White Silica Project and a technical report (the “Resource Report”) that complies with the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) will be filed by Rogue in compliance with NI 43-101. M.Plan is a joint venture between Dorfner ANZAPLAN GmbH (“ANZAPLAN”) and Micon International Limited formed specifically to provide consulting services in the specialty minerals sector. The Company expects the Resource Report to be completed and announced in late July (see press release dated June 18, 2018).
Potential new South Zone
An examination of surface outcrops exposed due to recent forestry activity on the property indicates that the quartz mineralization may extend further along the trend and the Company plans to map and sample these new zones as well as the already stripped South Zone during the summer/fall field season. This mineralization is on the Company’s current claims and would be included in the existing operations permit for the Project.
Hauling Permit with the local township
Rogue is also pleased to announce it has signed an agreement with The Corporation of the Township of Sables-Spanish Rivers, a Municipal Corporation under the laws of the Province of Ontario, for truck hauling. The Township has adjusted an existing load restriction in order to facilitate the Snow White hauling process. The agreement outlines the covenants of the hauling of legally licensed loads from August 1, 2018 to November 30, 2018. The Company will be required to re-apply for a hauling permit in successive years.
“I’m pleased with these initial results, as they confirm our view on Snow White- that it could be a Direct-Ship project with minimal capex to sell to the commodity market and good potential into the specialized markets. We drilled more metres than planned, and the full analytics delayed us a month, but this was the right work to do- methodically de-risking the Project and moving towards a Resource and a potential Advancement Decision. The potential new South Zone is also exciting for us and we appreciate the continued cooperation of the local township, they remain supportive as we continue with our work on Snow White”, said Sean Samson, President and CEO of Rogue Resources.
About Rogue Resources Inc.
Rogue is a mining company focused on generating positive cash flow. Not tied to any commodity, it looks at rock value and good grade deposits that can withstand all stages of the commodity price cycle. The Company remains focused on advancing its silica/quartz business with the Snow White Project in Ontario and the Silicon Ridge Project in Québec, exploring its other assets, including the gold potential at Radio Hill, and identifying additional projects or mines that meet its criteria.
For more information visit www.rogueresources.ca.
Qualified Person
The Company’s Projects are under the direct technical supervision of Paul Davis, P.Geo., and Vice-President of the Company. Paul is a Qualified Person (“QP”) as defined by NI 43-101. He has reviewed and approved the technical information in this press release.
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:
This news release contains certain statements or disclosures relating to the Company that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information (“forward-looking statements”) under applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “continue”, “potential” and similar expressions, or are events or conditions that “will”, “would”, “may”, “could” or “should” occur or be achieved. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: the Private Placement; the Units, FT Units, Warrants and FT Warrants; the expected date of closing of the Private Placement; the expected use of proceeds from each of the Unit Offering and the FT Unit Offering; jurisdictions where the Unit Offering and FT Unit Offering will be made; Finder’s Fees and Finder’s Warrants; the statutory hold periods applicable to the securities underlying the Units and FT Units; and the applicability of exemptions from prospectus and registration requirements of applicable securities laws. The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of the Company including, without limitation: business strategies and the environment in which the Company will operate in the future; commodity prices; exploration and development costs; mining operations, drilling plans and access to available goods and services and development parameters; regulatory restrictions; the ability of the Company to obtain applicable permits and regulatory approvals; activities of governmental authorities (including changes in taxation); currency fluctuations; the global economic climate; and competition.
The Company believes that the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: general economic, market and business conditions; the Private Placement may not be completed in the timelines anticipated, in the manner anticipated or at all; the required regulatory approval for the Private Placement, including the approval of the TSXV, may not be obtained; the Company’s properties may not have the results currently anticipated by the Company; the Company may be unable to resolve geological, mechanical, regulatory or operational issues in the timelines anticipated, in the manner anticipated or at all; increased costs and expenses; reliance on industry partners; risks related to operations, government and environmental regulation, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; risks in the marketability of minerals; fluctuations in the commodity prices; fluctuation in foreign exchange rates and interest rates; stock market volatility; and certain other risks detailed from time to time in the Company’s public disclosure documents including, without limitation, those risks identified in this news release, and in the Company’s most recent annual and interim management’s discussion and analysis, copies of which are available on the Company’s SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.
The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.
For additional information regarding this news release please contact: Sean Samson info@rogueresources.ca