- Rockridge Resources (ROCK) has begun Phase I of a summer exploration program at its Raney gold project southwest of Timmins, Ontario
- The company completed a nine-hole diamond drill program earlier this year, the results of which included six metres at 28 grams per tonne of gold
- The upcoming program will focus on further delineating these targets and prioritising additional areas over a broad structural corridor
- A drone magnetometer survey will also be carried out, along with in-depth prospecting and mapping, and a geochemical orientation survey
- Rockridge Resources (ROCK) is currently up 10.34 per cent to C$0.16 per share
Rockridge Resources (ROCK) has begun Phase I of a summer exploration program at its Raney gold project southwest of Timmins, Ontario.
Earlier this year, the company completed a 2,070-metres diamond drill program at the 2,800-hectare property, which included nine holes designed to assess the potential of a mineralised gold system. The program returned significant results, including six metres at 28 grams per tonne of gold.
With the current program now under way, Rockridge intends to further delineate and prioritise target areas that were the subject of the previous drilling activities. These are primarily hosted within a structural corridor up to 125 metres wide, which is thought to extend well beyond the small region that was previously explored.
Field work is also expected to include a drone magnetometer survey, detailed prospecting and mapping, and a geochemical orientation survey.
Grant Ewing, CEO of Rockridge Resources, noted that the broad structural corridor is thought to host substantial high-grade mineralisation.
“A follow-up phase-two diamond drilling program is planned to test the priority target areas identified in the field program and to follow up on the results from the drill program completed earlier this year.
“The prospective corridor that hosts the mineralisation has a potential strike extent of over two kilometres with no drilling conducted over a large extent of this region or at depth,” he said.
Earlier this month Rockridge successfully raised C$1.5 million in a non-brokered private placement, which will be used to fund the current exploration program.
Rockridge Resources (ROCK) is up 10.34 per cent and is trading at 16 cents per share at 10:55am EDT.