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Be the first with the news that moves the market- Rugby (RUG) provides results for the initial 300 metres of the third drill hole at the Cobrasco discovery in Colombia
- When completed, the company plans to have 1,300 metres drilled on hole CDH003
- According to the company, it is well-positioned and is conducting operations with local participation
- The Cobrasco drilling started in August, with 2,283 metres completed
- Rugby Resources is a discovery-stage exploration company focused on a portfolio of copper, gold and silver targets in Colombia, Argentina and Chile
- Rugby Resources (RUG) is down 5.88 per cent, trading at $0.08 per share
Rugby Resources (RUG) shares results for the third drill hole from its Cobrasco discovery in Colombia.
When completed, the company plans to have 1,300 metres drilled on hole CDH003.
The Cobrasco drilling started in August, with 2,283 metres completed to year-end.
Highlights
The hole was paused at around 300 metres at year-end in high-grade porphyry mineralization.
In addition, there was a near-surface mineralized zone of 148 metres of 0.20 per cent copper and 65 parts per million molybdenum from 8 metres.
According to the company, this was a shallow mineralized zone which had a grading of 70 metres of 0.29 per cent copper and 50 parts per million molybdenum.
The hole is planned to be continued to the 1,300-metre depth.
Rugby’s Chairman, Yale Simpson, stated, “We are continuing to demonstrate the full scope of the Cobrasco discovery. The three drill holes are all well mineralized, yet they are testing only a portion of the system (as indicated by the copper soil geochemistry).”
According to the company, it is well-positioned and is conducting operations with local participation.
Environment and community
In January, the company started designing a socio-environmental program to promote and protect the ecosystems of the area.
This will take place with students and teachers of the community in coordination with local and national environmental agencies.
Rugby Resources is a discovery-stage exploration company focused on a portfolio of copper, gold and silver targets in Colombia, Argentina and Chile.
Rugby Resources (RUG) is down 5.88 per cent, trading at $0.08 at 12:15 pm EST.
