Rogue Announces Final Assay Results From 2015 Diamond Drill Program, Up to 99.94% SiO2 High Purity Silica
VANCOUVER, BC--(Marketwired - April 04, 2016) -
- HIGH SILICA CORE ASSAYS UP TO 99.94% SiO2
- 24 ADDITIONAL DRILL HOLE ASSAYS REPORTED, TO COMPLETE THE 71 HOLE DRILL PROGRAM
- ALL ASSAY RESULTS HAVE BEEN SENT TO MET-CHEM TO INITIATE RESOURCE ESTIMATE
- OVERSUBSCRIBED PRIVATE PLACEMENT CLOSED LAST WEEK WITH ALMOST $1.2M RAISED
- MANAGEMENT TEAM HEADED TO EUROPE FOR TECHNICAL AND INVESTOR MEETINGS
Rogue Resources Inc. (TSX VENTURE: RRS) ("Rogue" or the "Company") is pleased to announce the final results of the 2015 drilling campaign at the Silicon Ridge Project (formerly called the Lac de la Grosse Femelle Silica Project), located approximately 42 kilometres ("km") north of Baie-Saint Paul, Quebec and 4 km northeast of Sitec's operating silica mine. Analytical results from 24 diamond drill holes are reported and continue to define the high purity silica mineralization of up to 99.94% SiO2 approaching the highest purity levels recorded by the Company since drilling began in August 2015.
"I am excited by the continued strong results from Silicon Ridge. The 2015 drill program went very well, helping define a significant zone of high purity quartzite," states Sean Samson, President & CEO. "We continue to advance Silicon Ridge, de-risking the project through ongoing test work and analysis. Closing our over-subscribed private placement last week showed that there has been strong support from the financing market, with a good mix of existing and new investors, all coming in with hard dollars. Next week the team will be in Europe, for hands-on meetings with our metallurgical and sorting consultants in Germany, combined with investor meetings in Germany and the UK. We continue to introduce Rogue to investors, preparing them for the metallurgical results in April, resource in June and PEA in September."
Drill Program Details
- 2015 diamond drill program consisted of seventy one (71) drill holes, totaling 11,822 m.
- "G" quartzite unit intersected over a strike length of approximately 1,950 m with true widths between 31 m and 115 m (Figure 1).
- "H" quartzite unit intersected over a strike length of approximately 505 m with true widths between 35m and 118m and located 260 m north-northwest of Quartzite "G" (figure 1).
- Six drill holes (PQ and NQ) were drilled for Anzaplan and shipped to Germany for technical evaluation with expected results in April. Holes GF15-53, GF15-60 and GF15-62 are PQ diamond drill holes that were drilled as twin holes and shipped as whole core to Anzaplan as part of the metallurgical test program.
Significant widths of high purity quartzite were encountered during the drilling program that meet or exceed the minimum required silica grade specifications to be processed into value added silicon based materials. Test work being completed by Anzaplan, with TOMRA Sorting GmbH ("Tomra", formerly operating as CommodasUltrasort GmbH) is identifying the potential processes that could be applied to the material, upgrading the lower quality quartzite material into higher value products.
Highlighted intercepts are summarized in the following table:
| Silicon Ridge: Highlights of Significant Drill Intercepts | ||||||||||||
| Hole ID | From | To | Width | Weighted Avg SiO 2 | Maximum Value SiO 2 | True Width | ||||||
| (m) | (m) | (m) | % | % | (m) | |||||||
| GF15-36 | 129.25 | 156.00 | 26.75 | 98.18 | 99.38 | 23.21 | ||||||
| GF15-39 | 88.10 | 152.60 | 64.50 | 97.94 | 99.80 | 55.97 | ||||||
| GF15-42 | 35.00 | 140.20 | 105.20 | 97.97 | 99.47 | 91.29 | ||||||
| GF15-43 | 94.50 | 141.25 | 46.75 | 98.22 | 99.46 | 40.57 | ||||||
| GF15-45 | 67.80 | 163.00 | 95.20 | 97.90 | 99.57 | 82.61 | ||||||
| GF15-46 | 36.30 | 95.05 | 58.75 | 98.23 | 99.53 | 50.98 | ||||||
| GF15-47 | 72.75 | 173.10 | 100.35 | 97.90 | 99.63 | 87.08 | ||||||
| GF15-48 | 106.60 | 168.50 | 61.90 | 97.90 | 99.36 | 53.72 | ||||||
| GF15-54 | 80.80 | 139.00 | 58.20 | 98.18 | 99.51 | 50.50 | ||||||
| GF15-58 | 95.80 | 132.80 | 37.00 | 97.99 | 99.59 | 32.11 | ||||||
| GF15-59 | 93.00 | 133.60 | 40.60 | 98.21 | 99.79 | 35.23 | ||||||
| GF15-61 | 41.25 | 125.90 | 84.65 | 98.07 | 99.63 | 73.46 | ||||||
| GF15-63 | 96.80 | 204.75 | 107.95 | 97.98 | 99.80 | 93.68 | ||||||
| GF15-64 | 7.00 | 189.70 | 182.70 | 98.06 | 99.83 | 158.54 | ||||||
| GF15-65 | 31.00 | 118.85 | 87.85 | 97.92 | 99.86 | 76.23 | ||||||
| GF15-66 | 16.00 | 234.00 | 218.00 | 98.13 | 99.81 | 189.18 | ||||||
| GF15-67 | 6.90 | 114.80 | 107.90 | 97.90 | 99.40 | 93.63 | ||||||
| GF15-69 | 12.45 | 134.00 | 121.55 | 98.09 | 99.81 | 105.48 | ||||||
| GF15-70 | 169.00 | 230.50 | 61.50 | 98.48 | 99.81 | 53.37 | ||||||
| GF15-71 | 130.00 | 139.80 | 9.80 | 98.14 | 98.53 | 8.50 | ||||||
To view a complete table of assays and drill hole locations disclosed today, please click on the link below:
http://www.rogueresources.ca/i/pdf/April-4-PR-SIlicon-Ridge-Collar-Location-Assay.pdf
To view a drill location map, please click on the link below:
http://www.rogueresources.ca/i/misc/GF_DDH_Plan-and-XSEC-Lines_8K_20160331.jpg
The Rogue technical team has completed the drill hole data validation, assays and interpretations of the geological sections and transferred this data to Met-Chem Canada ("Met-Chem") to complete the Resource estimate.
Silicon Ridge Project 2016 Timeline:
- April: Metallurgical findings and reports (Anzaplan)
- From April: Develop market partnerships (off-take agreements, end-user investment, etc.)
- June: Resource Report (Met-Chem)
- September: PEA Report (Met-Chem)
- Q4: Development decisions and pre-production planning
Private Placement
As announced on April 1, 2016, Rogue completed an oversubscribed Private Placement, raising a total of $1,163,500, all in non-flow through proceeds, above the planned $1,000,000 combined flow-through and non-flow-through financing originally announced on March 4, 2016.
This Private Placement was raised with a combination of existing and new investors, and certain directors and/or officers of the Company have acquired securities under the private placement and upon closing, all officers and management of the Company will own common shares of Rogue. Full details of the Private Placement can be found in Rogue's April 1, 2016 news release.
Management team visit to Europe
As part of the ongoing metallurgical work for Silicon Ridge, the Rogue team will be meeting with Anzaplan and Tomra at their main German facilities next week. These visits will be combined with investor marketing schedules in Frankfurt and London, UK.
About Rogue Resources Inc.
With its diverse portfolio of Canadian properties, all in good standing, the Company has the ability to focus its efforts and finances on the project that demonstrates the greatest market potential for return. The current focus for Rogue is its Silicon Ridge Project in Quebec, located 42 km north of Baie-Saint Paul on the St. Lawrence River, and 4 km northeast of the Sitec silica mine, which has been in operation for over fifty years. Access to the project is via a paved highway and well maintained forestry access roads with a high voltage power line soon to be constructed to within 4km. For more information about Rogue visit www.rogueresources.ca.
Qualified Person
The Silicon Ridge exploration project is under the direct supervision of Eddy Canova, P Geo., and Senior Vice-President of the Company, a Qualified Persons ("QP") as defined by National Instrument 43-101, assisted by Paul Davis, P Geo., Technical Consultant to the Company and also a QP as defined by National Instrument 43-101. Both QPs have approved the scientific and technical content of this release.
Drill core obtained from the diamond drill program is dominantly NQ-sized core with the remainder being PQ-sized core. Rogue Resources follows a rigorous QA/QC protocol for the Silicon Ridge Project. Drill core of interest is halved and half is sent to Rogue's analytical laboratory, ALS Minerals of Val-d'Or, Que., with the remaining half retained for future reference. Insertion of standards and blanks are submitted for each batch of samples.
On Behalf of Rogue Resources Inc.
Sean Samson
President & CEO, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking statements, including timing of completion of exploration work. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Contact
For additional information regarding this news release please contact:
Sean Samson
sean@rogueresources.ca
+1-604-629-1808
Investor Relations:
Sean Budnick
sean@allysontaylorpartners.com
+1-514-397-0110