NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES
- Radio Hill is an 1,800 hectare land package located along the western extension of the Destor-Porcupine Fault
- The package is surrounded by the Pen Gold Project, amalgamated by GFG Resources (TSXV:GFG) in 2018
- Within approximately 4km of Radio Hill, GFG announced this week 71.27 Grams of Gold per Tonne Over 8.5m
- Rogue has identified Exploration Targets and has a Permit in place to potentially drill the project this summer
TORONTO, ON / ACCESSWIRE / April 8, 2020 / Rogue Resources Inc. (TSXV:RRS) (“Rogue” or the “Company”) announces that based on the April 6, 2020 news of significant gold mineralization being intercepted in drill core by GFG, that the Company has an updated Radio Hill presentation, including details of a potential exploration program, available on the Company’s website at www.rogueresources.ca. GFG’s hit was at the Nib Prospect, approximately 4 km east of the Radio Hill Property.
Rogue initially recognized the gold potential associated with the Radio Hill Property in 2017 when it applied for and was granted an exploration permit to complete diamond drilling within the property boundaries (see August 14, 2017 news release). The exploration permit is valid until November of this year. Since that time, Rogue has also consolidated 100% right, title and interest in Radio Hill (see January 16, 2020 news release).
The Radio Hill Project comprises an 1,800 hectare land package located 85 km southwest of Timmins, Ontario. The project sits in the middle of the Pen Gold Project, owned by GFG Resources Inc. (TSX-V: GFG). In December 2017, GFG announced that it began consolidation of a land package encompassing the Pen Gold Project (from Rapier Gold), the West Porcupine Property (from Probe Metals) and the Swayze Project (from Osisko Mining). GFG has been exploring their 68,000 hectare project, on both sides of the centrally located Radio Hill Project, since Q1 2018.
Rogue interprets that the favourable stratigraphic package hosting GFG’s recently intersected gold mineralization extends west onto the Radio Hill Property based upon geophysical surveys supported by geological mapping. In addition to GFG, the area to the southwest of Timmins has been the focus of significant exploration efforts by a number of companies due to the positive exploration and development activity associated with Pan American Silver (TSX:PAAS and the Timmins West Mine), Newmont Goldcorp (TSX:NGT and the Borden Mine) and IAMGOLD (TSX:IMG and the Côté Gold Project). Past exploration and mining in vicinity of Radio Hill includes the Joburke Mine located approximately 6 kilometres west of Radio Hill and numerous other gold showings and intercepts, highlighting the prospective nature of the area for gold mineralization.
The Company will initiate an analysis of the high-quality geophysical surveys completed since the acquisition of the Radio Hill property with a focus on identifying favourable geological and structural features that are known to host gold mineralization throughout the Timmins area. Targets will be ranked based upon the analysis and a drill program will be developed to potentially test the prioritized areas with diamond drilling.
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 quality deposits that can withstand all stages of the commodity price cycle. The Company includes Rogue Stone-selling quarried limestone for landscape applications from two operating quarries in Ontario; Rogue Quartz– focused on advancing its silica/quartz business with the Snow White Project in Ontario and the Silicon Ridge Project in Québec; and Rogue Timmins with the nickel resource at Langmuir and the gold potential at Radio Hill.
The Company’s Projects are under the direct technical supervision of Paul Davis, P.Geo., and Vice-President of the Company. Mr. Davis is a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information in this press release. There are no known factors that could materially affect the reliability of the information verified by Mr. Davis.
For more information visit www.rogueresources.ca or contact:
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. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “intends”, “target”, “estimates”, “projects”, “continue”, “potential” and similar expressions, or are events or conditions that “will”, “would”, “may”, “could” or “should” occur or be achieved.
In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: the increasing demand for Armour; the continued evolution of the product mix; the future purchase volumes and pricing of the Preferred Partners; finalization of purchase orders; operations and sales from the Bobcaygeon and Orillia Quarries and perhaps most importantly- the unpredictable outcome from the COVID-19 pandemic including the reopening of the quarries.
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 and regulation); currency fluctuations; the global economic climate; and competition.
The Company believes that the material factors, expectations and assumptions reflected in the forward-looking statements contained in this news release 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, those risks identified 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.
If the closing of the Orillia Quarry acquisition does not occur for any reason including the receipt of applicable regulatory approvals, or if revenues and/or profitability from the Bobcaygeon or Orillia Quarries are not sufficient, then there is a specific risk that the market price of the Company’s securities will be negatively impacted.
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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Rogue Resources Inc.
View source version on accesswire.com: