Roughrider Acquires the Silver Ace Project South of Houston, British Columbia
VANCOUVER, BC / ACCESSWIRE / November 16, 2017 / Roughrider Exploration Limited (TSX-V: REL) ("Roughrider") is pleased to announce the acquisition by staking of the 3,056 hectare "Silver Ace" property, located five kilometres south of Houston, BC and 16 kilometres north of New Nadina Exploration's Silver Queen property and 28 kilometres northwest of the former producing Equity Silver Mine, respectively. The Equity Silver mine had cumulative production of 33.8 million tonnes grading 64.9 g/t silver, 0.4% copper and 0.46 g/t gold (MINFILE references 093L-001).
The Silver Ace property lies within the Stikine Terrane of central British Columbia. The Silver Ace claims were staked to completely contain a single mapped, 1.3 kilometre diameter intrusive body of the Late Cretaceous Bulkley Plutonic Suite, where it intrudes volcanic arc assemblages of the Lower Jurassic Hazelton Group (Telkwa Formation) and the Upper Cretaceous Kasalka Group. No known mineralization is reported on the Silver Ace property.
Roughrider's VP Exploration, David Tupper, commented, "The recent discovery news has heightened interest in the Houston-Equity Silver area. Bulkley intrusive stocks are proximal and important to the formation of most known mineralization in the region. The combination of open ground, a known intrusive stock and a nearby reported high-grade silver occurrence in a generally outcrop poor and underexplored setting such as we now have at Silver Ace looked like a great place to start."
Copper-molybdenum-gold-silver mineralized systems in the region are commonly associated with rocks of the Bulkley Plutonic Suite, including New Nadia's Silver Queen prospect, the former producing Equity Silver, Bell and Granisle mines, the suspended Huckleberry mine and the Berg, Poplar, Seel, Damascus, and Ox deposits. The Silver Ace property partially surrounds the small inlying Beholder claim that covers the Peacock occurrence, an east-west trending, vuggy quartz tetrahedrite vein that reports significant historic results to 5,002 g/t silver and 4.01% copper (Sample 2005-PCB; MinFile 093L-008).
Roughrider is investigating the acquisition of additional properties in the region, either through staking or earn-in agreements. Exploration plans for Silver Ace and other area projects, if acquired, will be reported when compilation and interpretation of historic and regional results are completed.
Genesis Uranium Update:
As noted in the news release of October 10th, Roughrider and partner Kivalliq Energy recently completed a 1,223 km. ZTEM survey over four grid areas on the Genesis Uranium project in the Athabasca Basin area of Saskatchewan. The goal of the survey is to further define drill targets on this large project area. Management expects to receive final modelled results and interpretation from the survey in the next few weeks.
Qualified Person
David Tupper, P. Geo. is a qualified person ("QP") within the context of National Instrument 43-101, and has prepared, read and approved the technical aspects of this news release.
About Roughrider Exploration Limited
Roughrider and its partner Kivalliq Energy are exploring the Genesis uranium project located in the Wollaston-Mudjatik geological trend extending northeast from Saskatchewan's Athabasca Basin. In addition, Roughrider recently acquired an option to earn a 100% interest in the Iron Butte project in Nevada which contains a historic bulk tonnage gold resource and has now added the Silver Ace project in central British Columbia.
For further information, please contact:
Scott Gibson
Chief Executive Officer
604 697‐0028
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING HISTORICAL INFORMATION:
Historical information contained in this news release regarding properties adjacent to or in the area of Roughrider's Silver Ace property is repeated for historical reference only, do not indicate the presence of mineralization on the Silver Ace property and cannot be relied upon as its QP, as defined under NI-43-101 has not prepared nor verified the historical information.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by the company, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.
SOURCE: Roughrider Exploration Limited