Rockridge Resources Ltd.
TSX.V: ROCK | OTC: RRRLF
Advancing Multiple High-Potential
GOLD & COPPER
Canadian Mineral Projects
Rockridge Resources (TSX.V: ROCK)(OTC: RRRLF) – currently trading below US$0.15 per share – is advancing the flagship Raney Gold Project located in Ontario, Canada, in the same greenstone belt that hosts the world class Timmins and Kirkland Lake gold mining camps.
Recently reported drill hole RN 20-06 intersected an impressive 28.0 grams per tonne gold over 6.0 meters at a shallow vertical level of just 95 meters — representing a new high-grade discovery zone at the Raney project.
The company has initiated a 3,000-meter, 11-hole drill program at Raney designed to follow-up on that and other high-grade intercepts by testing three key areas of mineralization.
The company’s second project is the Knife Lake Copper Project located in Saskatchewan, Canada, which is ranked as the #3 mining jurisdiction in the world by the Fraser Institute.
The project hosts the Knife Lake Deposit — a near-surface, VMS copper-dominant polymetallic deposit that’s open along strike and at depth with strong discovery potential in and around the deposit area, and at regional targets on the large property package.
Raney Gold Project
The company’s 100%-owned, 6,900-acre Raney Gold Project is located in the southwest area of Timmins, Ontario, in the Swayze Greenstone Belt — the southwest extension of the prolific Abitibi Greenstone Belt.
This is true elephant country; the Timmins and Kirkland Lake gold districts have produced around 100 million ounces of gold over the decades by way of numerous word-class gold mines — representing roughly 20% of the world’s cumulative gold production.
Rockridge’s Raney Gold Project is situated just 22 miles east of industry leader Newmont’s Borden Gold Mine, which is now in production. Additionally, 47 miles to the southeast of the Raney project, IAMGOLD and Sumitomo are joint-ventured on the ~7M oz/Au Cote Project, which received the go-ahead on construction earlier this year.
Rockridge Resources has the drills turning on its own 3,000-meter, 11-hole drill program with multiple assays at the lab and awaiting processing. The current drilling is a follow-up to the company’s 2020 spring program, which intercepted an impressive 28.0 grams per tonne gold over 6.0 meters.
The corridor that hosts the known mineralization at Raney has had zero historic drilling and is open for expansion. Mapping and geophysical data reveal that the zone may extend over several hundred meters.
The current drill program is testing three key targets: down-plunge of the recent high-grade intercepts, along strike of the Raney Gold Zone, and a newly identified quartz feldspar porphyry target where solid high-grade gold values have been identified at surface.
With several holes already completed and core dropped off at the lab for processing, investors can expect results from the first batch of assays in the coming days or weeks depending on lab turnaround times.
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Knife Lake Copper Project
The 210,000-acre Knife Lake Project is a near-surface, VMS copper-dominant polymetallic deposit located in the prolific Flin Flon mining district of Saskatchewan, Canada.
Saskatchewan is ranked as the #3 mining jurisdiction in the world by the Fraser Institute. Flin Flon itself is an established mining district with over $1.6 billion invested toward mine development with road, rail, power and water infrastructure in-place to facilitate quick development of new discoveries.
Along with strong government backing, infrastructure is one of the key advantages of working in a Tier-1 mining jurisdiction like Saskatchewan.
The Knife Lake Copper Project hosts the Knife Lake deposit, which boasts Indicated resources of 3.8 million tonnes at 1.02% Cu Eq (Copper Equivalent) plus Inferred resources of 7.9 million tonnes at 0.67% Cu Eq.
2019 drilling intersected 37.6 meters at 2.42% Cu Eq – and the deposit remains open at depth and along strike for potential resource expansion. The company is currently in the planning stages to drill-test some of the high-priority targets identified from last year’s drilling.
Highly Adept Management
In the junior resource sector, it is critically important to have the right people at the controls — and Rockridge Resources checks that box to a “T.”
The company is led by Jordan Trimble, director & president, who previously served as corporate development manager for Bayfield Ventures, a gold company with projects in Ontario that was successfully acquired by New Gold (TSX: NGD) in 2014.
Grant Ewing, CEO, whom you’ll be hearing from in a moment, is a professional geologist with over 25 years of experience in the mineral industry. Grant previously served as vice president of exploration for AuRico Metals up until its acquisition by Centerra Gold for roughly $300 million.
Canadian Mining Hall of Famer, Ron Netolitzky, strategic advisor, brings over 40 years of experience in the mineral exploration industry. Ron has been directly associated with three major discoveries in Canada that subsequently went into production: Eskay Creek, Snip, and Brewery Creek.
The Rockridge team has every base covered when it comes to Canadian mineral exploration and development. I had the opportunity recently to chat with CEO, Grant Ewing, and I’m excited to bring you his direct insights on the Raney and Knife Lake projects.
Exclusive Interview with Grant Ewing
CEO, Rockridge Resources Ltd.
Mike Fagan: Grant, great to connect with you and plenty of exciting news to get to. First and foremost, Rockridge has commenced a 3,000-meter diamond drill program at your high-grade Raney Gold Project in Ontario, Canada. It’s an exciting program that I believe will consist of approximately 11 drill holes.
Grant Ewing: Yeah, that's right, Mike. We're in the middle of the program as we speak. It's a 3,000-meter program, roughly 11 diamond drill holes planned.
The first half of the program, so roughly 5 or so holes, will test the down-plunge of the high-grade hit we drilled and announced earlier in the year — 28 grams per tonne over 6 meters from drill hole RN 20-06.
Then, we'll test the down-plunge extent of some historic high-grade hits that are focused right around the Raney mineralized zone as we know it today.
The last half of the program will march out along strike and test this horizon, this structural corridor, we've identified as being a similar geologic setting as the Raney zone.
Historically, there’s been virtually zero drilling completed on this structural corridor along strike, so about half the program will be testing that particular zone.
MF: Excellent. And I read that Rockridge has now completed its 100% earn-in on the project. You’ve also provided an update from the fall 2020 drill program showing that a majority of the drill holes successfully intersected alteration similar to what’s been seen in previous high-grade holes drilled on the property.
Now, we've both been around long enough to know the proof is always in the pudding… so we'll know when the assays come back. But I'd much rather see the alteration than not, right?
GE: Yeah, that's true, Mike. Certainly it's nice to see some visual alteration that matches with previous areas that ran nicely in terms of grade. So that's a great sign.
Also, it's real nice that we've earned our 100% interest in the project. As you know, the Raney project was picked up by Rockridge in a much different gold environment, so it wasn't a very expensive project to earn into.
We've done the two programs now that will fulfill the earn-in in terms of work expenditures, so we’re very pleased that we've done that now.
And like I mentioned, the program is really intended to test three main features. One is the down-plunge area where we're seeing some nice alteration in some of the holes drilled to date. The assays have been submitted, so it's just a waiting game now for the assay results.
Secondly, we're stepping out along strike and testing this magnetic low structure that's coincident with the Raney Gold Zone.
And finally, the other really interesting drill hole we’ll be putting into this current program will be testing this quartz feldspar porphyry. It’s an intrusive body that lies just south of the Raney Gold Zone, which has been mapped in the past and sampled on-surface but very lightly assessed in terms of drilling.
We'll position one drill hole to go through this intrusive body, which is highly altered and has nice gold surface showings. We'll go through that body and then deeper to test the down-plunge of the Raney mineralization.
In essence, we'll be testing two targets with one hole — so that's nice and convenient.
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MF: Definitely! And how many targets have you developed on the property? I know initially you did the first-pass program and then it seemed like the follow-up field work really helped identify additional targets.
GE: That’s right. Our first drilling program was completed earlier in the year and followed up by a summer program of prospecting, mapping, and gaining a better understanding of the geologic setting.
Now, we've got a pretty good handle on things. We know that this magnetic low horizon that hosts the Raney mineralization extends considerably along strike east and west. That’s based on the drone magnetic survey we conducted this summer.
MF: And, Grant, the drilling contractor you're using is very, very experienced — especially in this area. Can you speak to that a bit?
GE: Yes, the group we've chosen for this program is well-versed in operating in the area. They work for Newmont just to the west of us at the Borden Gold Project. We're happy to bring this group in to conduct the program.
MF: Great. You mentioned Newmont and the surrounding majors you're nestled in between. Can you speak to that a bit and the infrastructure that’s already in-place? That's obviously advantageous if you're able to delineate a discovery of significance.
GE: That’s certainly the case with Raney. The project is very well located both infrastructure-wise and in terms of the geologic setting. It's very conducive for world-class discoveries.
We can drive to this project from Timmins in under 2 hours. That really helps with keeping our drilling costs modest compared to operating in more remote areas.
We've got a couple of high-profile neighbors. To the west, as mentioned, is Newmont with their Borden Gold Mine. That mine was opened just last year, and it's a high-grade underground mine.
To the east, IAMGOLD and its partner are developing the Cote Gold Project, which will be one of IAMGOLD's flagship assets going forward.
So the area is under pretty heavy exploration by a number of groups, and there's also some serious mining companies active in the area that are mining or developing projects.
MF: Not a bad neighborhood to be in!
GE: Certainly, that's the case and an important part of Rockridge's strategy of acquiring projects in great geologic settings with world-class potential.
MF: Speaking of that, let’s also delve into the Knife Lake Copper Project — especially with copper trading strongly above $3 a pound. How are things on that front? I know gold is first and foremost, and Raney is the main event for now, but what’s the current exploration plan for Knife Lake?
GE: Mike, we're fortunate to have Knife Lake as a great second asset, and we've been watching with interest as copper creeps higher.
Knife Lake is a copper-dominated massive sulfide deposit located in eastern Saskatchewan, Canada. It has an established and significant resource already.
The next step is to get into the field and drill-test some of these high-priority targets we've identified very close to the Knife Lake deposit.
We're doing the internal planning and looking to get back into the project perhaps as early as this winter with drilling. Yet, that's still in the planning stages.
Our current focus is on the Raney Project, and we'll get those drill results coming through over the next several weeks as we continue with the 11-hole drill program.
MF: Pivoting back to Raney, how is the communication with the assay labs going? I know a lot of companies are seeing modest delays. Have you received any feedback on expected turnaround times?
GE: Yeah. It's that typical sort of four to six-week turnaround time that's been communicated to us from the lab. They are fairly busy.
The nice thing about this project, though, is that it's in a real established mining district. You have labs in Timmins and labs in Sudbury, Ontario. They know how to handle volume.
But, like I said, we’re in the waiting game here just like a lot of other companies. You get the assays submitted, and it's usually that four to six-week turnaround.
MF: Excellent. Well, certainly a lot going on. High-grade gold catches a lot of attention in a market like this. I'm curious to see the widths of the mineralization and the intensity of it. Anything else you’d like to add, Grant?
GE: Sure, I’d like to just mention that we're well-financed here. Should we see the results we're expecting, we can quickly look to another program at the Raney project.
With a small market cap below C$8 million, we think we're well-positioned to deliver some real value.
MF: Fantastic. Grant, thank you for your time. Looking forward to the assay results.
GE: You bet, Mike. Great talking with you today.
The Opportunity
Rockridge Resources Ltd. (TSX.V: ROCK)(OTC: RRRLF) is advancing two promising mineral projects situated in two of the top mining jurisdictions on the planet. And the importance of jurisdiction cannot be overstated, especially during these challenging times.
It’s a big deal to be able to bring in experienced drillers without delay and to drop off drill core and surface samples at renowned Canadian assay labs where you can count on reliable results and expedient turnaround times.
You heard from CEO, Grant Ewing. He told you about the current drilling, the 28 grams per tonne gold over 6 meters, the proximity to majors, and the excellent infrastructure that’s already in-place at the Raney Gold Project.. not to mention the upcoming plan for the company’s Knife Lake Copper Project.
Keep in mind also that the current drill testing at Raney is focused on only a small area of the known gold zone – about 225 meters of strike length – so there exists excellent potential for the discovery of new gold zones at this relatively large, underexplored project.
And it’s a great time to be exploring for gold and copper with the yellow metal trading around $1,900 an ounce (up from $1,525/oz earlier in 2020) and with the red metal trading north of $3 per pound (up from $2.10/lb earlier this year).
With approximately 50 million shares outstanding and a current market cap below C$8 million, the company’s shares could receive a re-rating to the upside on any additional positive assay results.
Management also has significant skin in the game with a large position in the company greater than 10%.
And, as noted, Rockridge is drilling now and has several assays at the lab with results due in very short order.
Right now is an opportune time to be looking at Rockridge Resources Ltd. (TSX.V: ROCK)(OTC: RRRLF) as a timely investment opportunity in the junior gold-copper sector.
The company’s stock is currently trading below US$0.15 per share – and investors can expect a steady stream of newsflow over the coming weeks and months.
Yours In Profits,
Mike Fagan, Editor
Resource Stock Digest
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