Rogue Announces Initial Resource Estimate Snow White Project's Main Zone
- M.Plan identifies Indicated Resource of 486,000 t grading 97.05% SiO2
- Inferred Mineral Resource estimated at 271,000t grading 94.34% SiO2
- A Corporate Update conference call will be held with investors on Wednesday, August 8th at 12:00 pm EST, reviewing Snow White Resource Estimate and progress made in 2018
TORONTO, Aug. 07, 2018 (GLOBE NEWSWIRE) -- Rogue Resources Inc. (TSX-V: RRS) (“Rogue” or the “Company”) is pleased to report its initial resource estimate on its 100% owned Snow White Project (the “Project”), located approximately 100 kilometres (“km”) west of Sudbury, Ontario. The mineral resource estimate prepared by M.Plan International Limited (“M.Plan”), includes a pit constrained indicated resource of 486,000 tonnes grading 97.05% SiO2 and an inferred resource of 271,000 grading 94.34% SiO2. M.Plan is a joint venture between ANZAPLAN and Micon International Limited (“Micon”) formed specifically to provide consulting services in the specialty minerals sector. The technical report supporting this mineral resource estimate (the “Technical Report”) will be filed on SEDAR within 45 days.
“The resource estimate prepared by M.Plan demonstrates the exceptional high purity and potential of the Snow White project and provides the required grade and tonnage distribution for ongoing negotiations and quarry planning,” said Sean Samson, President and CEO of Rogue Resources. “This information will provide Rogue the information that will assist the negotiations with potential customers for the Snow White silica. We are excited about the potential extension of the quartz mineralization where the initial resource estimated is limited to the main zone, however quartz mineralization has been identified along strike, south of the Main Zone, for approximately 1,000 metres and the Company intends to explore these areas as the project progresses.”
Resource Summary
The resource estimate, includes resources from the Main Zone as summarized in the following table (Table 1). The Main Zone is open along strike and down dip and has potential for expansion.
The mineral resource for the Snow White project incorporates analytical results from 36 diamond drill holes totaling 1,910 metres (“m”). The estimate was prepared using a block model constrained with 3D wireframes of the principal mineralized domains. Values for SiO2, Al2O3, TiO2, and Fe2O3, were interpolated into blocks using Inverse Distance Squared (“ID2”) from a large quartz zone that remains open to depth as well as along strike in both the north and south directions. The current resources are confined to a small portion of the known quartz vein and further exploration at depth and along both strike directions may allow the for expansion of the resources.
A preliminary open pit optimization algorithm was run on the estimated grade block model to constrain the resources and to support the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) requirement that Mineral Resources have ‘reasonable prospects for eventual economic extraction’. Only mineralization contained within the preliminary pit shell has been included in the resource estimate.
Table 1: Snow White Pit Constrained Resource Estimate
| Main Zone | ||||||
| Description | Category | Tonnes (Mt) | SiO2 (%) | TiO2 (%) | Al2O3 (%) | Fe2O3 (%) |
| Permitted (Water Table - Above 305masl) | Indicated | 236,000 | 96.89 | 0.008 | 0.195 | 0.113 |
| Inferred | 75,000 | 92.91 | 0.010 | 0.384 | 0.177 | |
| Unpermitted (Below 305masl) | Indicated | 251,000 | 97.21 | 0.010 | 0.254 | 0.149 |
| Inferred | 196,000 | 94.89 | 0.009 | 0.361 | 0.195 | |
| Total | Indicated | 486,000 | 97.05 | 0.009 | 0.225 | 0.131 |
| Total | Inferred | 271,000 | 94.34 | 0.009 | 0.368 | 0.190 |
Notes:
- CIM definitions (May 10, 2014) were followed for classification of Mineral Resources.
- Cut-off grades of Al2O3 ≤ 2.4 wt.-%; Fe2O3 ≤ 0.53 wt.-% and TiO2 ≤ 0.054 wt.-%. P2O5 was too low in concentration to affect the quality of the material and as a result ANZAPLAN did not determine a cut-off grade.
- Density of 2.644 g/cm3.
- The resources are constrained by a Lersch Grossman (LG) optimized pit shell using Geovia WhittleTM software.
- LG pit shell defined using the following constraints:
- 55 degree slope
- Offset of 30 m from lakes and wetlands
- Product sales price of CAD $85.00/t.
- Processing cost of CAD $20.20 t.
- Mining cost of CAD $5.50/t and a G&A cost of CAD $2.00/t
(All pricing and costing will be refined for the PEA.)
- Mineral Resources are not Mineral Reserves and have no demonstrated economic viability. The estimate of Mineral Resources may be materially affected by mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and government factors (“Modifying Factors”).
- There are currently no measured resources at the Snow White Project.
- Numbers may not add due to rounding.
- Effective date of the resource estimate is August 4, 2018.
Corporate Update Conference Call
Rogue is pleased to host a conference call with management Wednesday, August 8, 2018, at noon Eastern (9 am Pacific, 6 pm in Western Europe). Rogue CEO Sean Samson and VP, Technical Paul Davis will give a corporate update, reviewing the Snow White Resource Estimate and the progress made on the 2018, followed by a brief question and answer period. Interested investors should forward questions in advance to questions@rogueresources.ca. Dial-in numbers to access the conference call as well as a new corporate presentation will be available at close of day on Tuesday through our webpage, www.rogueresources.ca. As with past calls, a playback of the call will be available online soon afterwards.
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 Quebec, exploring its other assets, including the gold potential at Radio Hill and nickel potential at Langmuir, 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. William J. Lewis, B.Sc., P.Geo., a Senior Geologist with Micon and Alan J. San Martin, MAusIMM(CP), a Mineral Resource Specialist with Micon, have 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 Drill Program and the timing and results thereof; preparation and filing of the Resource Report and the timing thereof; the Advancement Decision, the factors and contingencies contributing thereto and the timing thereof.
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; 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 technical reports which may not be completed in the timelines anticipated, in the manner anticipated or at all; 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