Rogue Completes First Phase of Optical Sorting Analysis and Participating at PDAC
- Snow White Project (Ontario), Positive Optical Sorting Results with segregation of samples, solely on colour
- Exhibiting in the Investor Exchange, Booth #2215 on March 5th during PDAC 2018
- Silicon Ridge Project (Québec), updated by the Ministère des Forêts, de la Faune et des Parcs (“MFFP”) that the “additional analysis” currently underway is now expected to be completed in Autumn 2018
TORONTO, March 05, 2018 (GLOBE NEWSWIRE) -- Rogue Resources Inc. (TSX-V:RRS) (“Rogue” or the “Company”) is pleased to update investors regarding the optical sorting results and ongoing test work on the Company’s Snow White Quartz Project ("Snow White" or the "Project"), located near Massey, Ontario, Canada.
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A 300 kg sample of previously blasted material from the Snow White Quarry was optically sorted by a German-based Optical Sorter manufacturer with a large US testing facility to determine the effectiveness of the optical sorter to remove lower quality quartz with inclusions, veinlets and staining from the higher purity quartz. The sorting test work was successful in sorting out the lower quality quartz and algorithms were developed to differentiate the material into different quality lots using colour alone.
“Based upon our previous optical sorting testing completed on the Silicon Ridge Project, we were confident that the Snow White material would perform well,” said Sean Samson, President and CEO of Rogue Resources. “We are excited by the outcome of the optical sorting tests, it confirms our intended processing and helps us as we continue to advance the Snow White Project inline with our 2018 Plan.”
The work completed on Snow White at this stage is preliminary in nature and the limited drill data and metallurgical analysis are too speculative geologically to have economic considerations applied to them that would enable them to be categorized even as Mineral Resources. Rogue does not intend to complete a Pre-feasibility or Feasibility Study of Mineral Reserves demonstrating economic and technical viability before a Development decision to proceed into Production. This potential decision would be based on a Resource Report, the results of negotiated cost estimates, ongoing engineering and geochemical test work (including the work referred to in this Release), the recent metallurgical test work, historic successful furnace tests as well as the securing of supply contracts for the Snow White quartz/silica products. Among the risks associated with any Development decision to proceed into Production is the possibility that the zone will not be economically or technically viable and/or that development timetables, cost estimates and production forecasts may not be realized.
PDAC 2018
The Company would also like to invite investors to meet with the management team in the Investors Exchange at Booth 2215 on March 5th, during the PDAC Conference being held at the Metro Toronto Convention Centre.
The Rogue 2018 Plan
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/63e96b2f-ef88-44fa-80be-79eb4496fdbf
Silicon Ridge Delay- update
Last year’s permitting delay (see August 10, 2017 press release) has now been extended to Q4 2018. In a letter received by the Company, after trading hours on Friday March 2nd, from the Ministère des Forêts, de la Faune et des Parcs (“MFFP”), Rogue was notified that the decision on the Section 128.7 application is further extended and will not be made until a policy study forming part of the Province-wide action plan for the development of forest-dwelling caribou habitat is completed in the Autumn of 2018.
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.
For additional information regarding this news release please contact:
Sean Samson
info@rogueresources.ca
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. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that the Company anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words “will”, “expect”, “anticipate”, “plan” and similar expressions.
In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: the results of any test work or negotiation with equipment manufacturers. 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.