Rockridge Resources (TSX-V: ROCK) CEO Grant Ewing on Testing New Geologic Model with February Diamond Drill Program at the Raney Gold Project in Ontario
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Rockridge Resources (TSX-V: ROCK)(OTC: RRRLF), Mr. Grant Ewing. Grant, how are you this morning?
Grant Ewing: I'm doing excellent. Thanks for asking.
Gerardo Del Real: It's an excellent time to be exploring a project that hasn't seen exploration for, I believe, almost a decade, specifically a gold project that's had some high-grade success in the past. Of course, I'm referring to the Raney Gold Project in Ontario.
You just announced that you're looking to mobilize and commence the diamond drill program there in February. I would love to get the details, as gold sits at right around the $1,545 level. Your timing couldn't be better, Grant.
Grant Ewing: Yeah. So we're set to mobilize our first program at the Raney Project. As you mentioned, it hasn't been drilled in a good decade or so, this project. We're set to mobilize about the middle of February, and we'll do approximately 2,000 meters with the initial phase one drilling campaign.
The first goal is to test a 6.5 gram per tonne over 8 meters intercept, which was a historic intercept that was left open when the previous operators ended their last program. Also, what has us pretty excited about this current program is that we've spent a lot of time and effort reviewing the data, all of the geologic data, and we've come up with a revised geologic model that shows both increased continuity and expanded strike and dip potential of the structure we're going to drill.
Gerardo Del Real: You're following up historical drill results that include an intercept, I believe, of 6.5 grams per tonne gold over 8 meters. That is open for expansion. You've mentioned to me privately off the air that you're really excited about this new geological model. What is it about it, in detail, that's got the team looking forward to this program?
Grant Ewing: Yeah. So we went and reviewed in-depth all the data, and there's trenching data, and this is historic data, and there's some historic drill data. There's sampling data and geophysical data. A reinterpretation of all of this data shows us that the strike and the dip of this structure is perhaps a little bit different than the historical operators thought it was.
We now envision this having a south dip to the structure, which when you look at that from the way it was drilled, they may have missed some of the extent to the structure as they probably drilled under the target, if it indeed dips to the south. And also with this new interpretation, we see better continuity of the intercepts from the old drilling.
Gerardo Del Real: Tell me a bit about the infrastructure. I know you have Newmont, too. I think they're 35 kilometers west of you, if I'm not mistaken, right? The Borden Mine, their newest gold project. I got to believe that the infrastructure and the access has to be pretty favorable.
Grant Ewing: Yeah. You couldn't ask for better access and infrastructure for a mining project. We can drive to this project on paved and secondary roads from Timmins in approximately an hour and a half to two hours. And directly west of us as the crow flies is Newmont's mine, the Borden Mine. And that project was developed after Newmont bought it several years ago from a junior explorer that discovered it. So that's to the west of us.
To the east, IAMGOLD is busy with a development project. So we're in a geologic setting that has numerous gold showings and very good potential for new discovery.
Gerardo Del Real: Excellent. Now the initial program, the phase one drilling program, I believe will entail 2,000 to 2,500 meters. How many holes are you looking to drill, Grant?
Grant Ewing: Yeah, initially here we're looking to drill approximately 2,000 meters plus or minus. 7 to 10 drill holes. And really early on we'll follow up on that high-grade intercept we had, the6.5 grams per tonne over 8 meters, and then look to expand that down plunge along strike and down dip on the structure.
Gerardo Del Real: Well I think your timing is excellent. I think 2020 is the year that exploration companies that do quality exploration work and add value will be rewarded. So, congrats on getting back out there. It's been nearly a decade since the property has seen drilling. Fingers crossed that the truth machine delivers. Anything else that you'd like to add?
Grant Ewing: No, thank you for the interview today. Rockridge has a very small market cap, $6.5 million dollars roughly, based on recent trading. We've seen some improvement in our share price recently, but we think this year is lined up to be a very good year for us. We've got our Raney Gold Project exploration underway. And then later in the year, we'll move on to our copper project, the Knife Lake Project in Saskatchewan, for exploration activities there.
Gerardo Del Real: Fantastic. Grant, thank you again. I get the feeling we'll be chatting again soon.
Grant Ewing: Thank you very much.
Gerardo Del Real: Appreciate it. Bye now.
Grant Ewing: Okay, bye bye.