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Be the first with the news that moves the market- Rockridge Resources (TSXV:ROCK) has posted assay results from the Raney Gold Project in Ontario
- The best result was 28 grams per tonne gold over 6 metre, from a depth of 95 metres.
- The Raney drill program consisted of 2,070 metres of drilling from nine holes
- Assay results for six of those holes have returned, with the best result above
- Rockridge Resources (ROCK) is up 17 per cent to $0.165 per share and has a market cap of $5.9 million
Rockridge Resources (TSXV:ROCK) has announced the intercepts from the company’s Raney Gold Project near Timmins, Ontario.
Raney covers 1,417 hectares, and sits around 110 km southwest of the Timmins gold district. Timmins is one of the most prolific gold districts in the entire North American continent.
The company posted gold intercepts of 28.0 grams per tonne gold over 6.0 metres.
With assays pending for the remaining drill holes, things are looking up for the junior miner. The entire drilling program entailed 2,070 metres from nine drill holes, logging and core sampling are complete, and assay results have returned for six holes.
Pending assays for the remaining holes include visible gold mineralization. However, like most other exploration companies, Rockridge has faced delays in announcing full assay results due to COVID-19 shutdowns.
The drill program’s purpose was to test the mineralised system for 225 metres down strike, with the deepest strike 260 metres down.
The company discovered the high grade gold intercept roughly 75 metres west of a historic drill hole. That particular hole returned 6.5 grams per tonne gold over 8.0 metres.
Rockridge’s CEO Grant Ewing reported that the company completed the Raney drilling program in a timely and cost effective manner.
“The high grade intercept in hole six is highly encouraging, as is the fact that the broad alternation zone where the current drilling program was concentrated may extend for several hundred metres.”
“No drilling has been conducted over a large extent of this corridor. The next steps regarding evaluation of the project will be determined following analysis of the complete assay results from the program”, he said.
The company is committed to continuing the drill program at the site throughout the rest of 2020.
Rockridge Resources (ROCK) is up 17 per cent, and trading for 16.5 cents per share at 3:40pm EDT.
