- Rockridge (TSXV:ROCK) has posted its final assay results from its Raney Gold Project in Timmins, Ontario
- The best result from the three latest holes was 0.69 grams per tonne of gold over five metres of strike at a drill depth of 89 metres
- Including the six previously announced drill holes, the best overall result from the program was 28 grams per tonne of gold over six metres
- Rockridge described the gold mineralization at Raney as nuggety or uneven in distribution
- Rockridge (ROCK) is down 15 per cent and is trading at C$0.11 per share
Rockridge (TSXV:ROCK) has posted its final assay results from its Raney Gold Project in Timmins, Ontario.
The company had three holes with results pending from the nine-hole program, which drilled a total of 2,070 metres. All three holes hit mineralization, but at low grades.
Hole 20-07 returned 0.62 grams per tonne of gold over 5.0 metres at 35 metres down, 0.69 grams per tonne of gold over 5 metres at 89 metres down.
Hole 20-08 returned 0.39 grams per tonne gold over 6 metres at 12 metres down, and 0.7 gram per tonne gold over 3 metres at 76.5 metres down.
Hole 20-09 returned 0.42 grams per tonne gold over 4 metres at 51 metres down, and 0.49 grams per tonne gold over 2 metres from 108.5 metres down.
Eight of the nine holes hit mineralization and confirmed the vein stretches for 225 metres. The best result of the program was a 28 grams per tonne of gold result over six metres.
The company stated that the vein remains open to the east, west and at depth.
Rockridge summed up its observations of the gold on the site as nuggety or uneven in distribution, as some holes returned low-grade gold in close proximity to areas returning intervals of high grade gold.
The company has planned a follow-up 5,000-metre drilling program across 15-20 drill holes.
Rockridge’s CEO, Grant Ewing said the exploration program had allowed our team to gain a better understanding of the nature of the mineralization and the potential the project held.
“We are encouraged by the results of this initial program and are now planning a two-phase program to test the broad structural corridor that hosts the high-grade mineralization.
“This corridor potentially extends several hundred metres along strike with no drilling conducted over a late extent of this corridor, or at depth,” he said.
Rockridge (ROCK) is down 15 per cent and is trading at C$0.11 per share at 2:30 pm EDT.