Epstein Research: Rockridge Resources Reports Blockbuster Copper Intercept; 36.7m @ 2.42% Cu Eq.
Rockridge Resources (TSX-V: ROCK) is a fairly new mineral exploration company focused on the acquisition, exploration & development of mineral resource properties in Canada. Its focus is copper & base metals. More specifically, base, green energy & battery metals, of which copper is all three! Not just any place in Canada, world-class mining jurisdictions such as Saskatchewan. And, not just good jurisdictions, but in mining camps with significant past exploration, development or production, in close proximity to key mining infrastructure.
The Company’s flagship project Knife Lake is in Saskatchewan, Canada, (ranked 3rd best mining jurisdiction in the world) in the Fraser Institute Mining Company Survey. The Project hosts the Knife Lake deposit, a near-surface, (high-grade copper) VMS copper-cobalt-gold-silver-zinc deposit open along strike and at depth. Management believes there’s strong discovery potential in and around the deposit area, and at additional targets on ~85,000 hectares of contiguous claims.
On May 7th Rockridge reported additional results from its Winter diamond drill program at its flagship Knife Lakeproject in Saskatchewan. Hot on the heels of last week’s press release (April 30th) of 2 holes, comes 3 more. I was planning on writing an article on those excellent results, but Equity.Guru beat me to the punch, putting out this well done piece. Readers following along may recall that the key takeaway was that holes KF19001 & KF19002 largely confirmed historical grades, intercept widths & geological conditions. Fast forward to May 7th, and management’s interpretation of drill holes KF19003, KF19004 & KF19005 was announced. Results on the remaining 7 holes will be released over the next 20-30 days. As a reminder, Rockridge has an option agreement with Eagle Plains Resources to acquire a 100% Interest in the majority of the Knife Lake Cu-Zn-Ag-Au-Co VMS deposit.
Earlier this year, Rockridge drilled 12 holes for a total of 1,053 meters. Importantly, this represents the first work on the property since 2001. Readers may recall from reading past articles & interviews on Epstein Research andEquity.Guru and viewing videos of CEO Trimble, that the Company’s primary goal is to explore districts that have been under-explored, never explored, or not recently explored. Management’s highly skilled and experienced technical team & advisors deploy the latest exploration technologies & methods. A lot has changed in 18 years; a simple example would be the use of drones to fly various surveys. Whatever management is doing seems to be working, as evidenced by 2 of the first 5 holes returning very strong results, and the third hole, KF19003 a true blockbuster.
Hole KF19003 was even better than the first 2 holes. In fact, significantly better, with a grade (Cu Eq.) x thickness (in meters) value of 91, compared to 41 & 49. Make no mistake, KF19001 / 19002 were great, they averaged 1.21 Cu Eq. over an average 38.5m. But, KF19003, WAS something to write home about…. [if under the age of 30, Google the idiom, “nothing to write home about“]. Near-surface like the first 2 holes, the 37.6m interval assayed 2% Cu, 0.2 g/t Au, 9.9 g/t Ag, 0.36% Zn & 0.01% Co, for an estimated 2.42% Cu Eq. grade. 2% Cu over 37.6 meters is a tremendous showing at under 41 meters downhole.
Holes KF19004 & KF19005 were mineralized, but had narrower intercept widths of interest. Still, there were attractive Cu Eq. grades (1.25% & 1.20%, respectively). Interestingly, Gallium (up to 25.6 ppm) & Indium (up to 15.2 ppm) values were found in the mineralized zones of all 3 holes. Those 2 Rare Earth Metals trade at an average of about US$300/kg. Each 10 ppm = 1kg/tonne. KF19004 & KF19005 confirmed mineralization up-dip of historically drilled high grade mineralization. So, those 2 holes were like KF19001 & KF19002, important in building the potential resource size. All activities this year advance the Project toward a NI 43-101 compliant mineral resource estimate.
Perhaps best of all, drill hole KF19003 confirmed high-grade mineralization up-dip of KF19002 in an area where no historical drilling is known to have been done. Therefore, this assay, and perhaps nearby assays to follow, will increase the size & grade of the upcoming mineral resource estimate. There was also encouraging zinc values, incl. 4m (from the 37.6m) of 1.32% Zn, nearly C$50/tonne rock. Gold values up to 0.63 g/t are interesting, but like the zinc I’m referring to only the best grades, from smaller intercepts. That 4m interval I mentioned also had 7.54% Cu. This is clearly a COPPER deposit, Knife Lake is a near-surface, high-grade Cu project. See drill hole results from KF19001 – KF19005 below. Holes KF19001 & KF19002 were released on April 30th, and KF19003-KF19005 on May 7th.