CSE: RKL
Vancouver, British Columbia, March 31, 2022: Rockland Resources Ltd. (the "Company" or "Rockland") (CSE: RKL) is pleased to report assay results for the Company’s inaugural drill program at the Cole Gold Mines Property, Red Lake Mining Division, Ontario. The program consisted of 5 NQ core holes for a total of 996 metres that targeted quartz veins and shear structures with quartz-sericite-sulphide alteration.
Drill results – Highlights from the program include the intersection of the gold mineralized quartz vein system developed by the historical Cole Gold Mines underground workings (Vein #1) and newly-discovered footwall gold mineralization in rhyolite with strong biotite, garnet, silica alteration and associated sulphides. Gold (Au) is reported in grams/tonne (g/t) in Table 1.
Hole RL-CP-02 intersected 0.5 m at 4.9 g/t Au in Vein #1 and 2.5 m at 3.6 g/t Au including 0.5 m at 10.9 g/t in the Footwall Zone.
Rockland’s CEO, Mike England stated "We are pleased that our inaugural program at Cole has intersected multiple zones of gold mineralization that are associated with strong alteration and well-defined structural controls. Rockland’s program is the first drilling campaign on the Cole Gold Mines Property since 1972. Our results from the initial holes after a half century provide strong encouragement for further drilling on this gold mineralized system”.
Table 1. Cole Gold Property, 2021 Drill Program, Intersections with > 2 g/t Au,
Hole ID | Zone | Az/Dip | From (m) | To (m) | Interval (m) | Au (g/t) |
RL-CP-01 | Footwall | 180o/-55o | 179.5 | 180.0 | 0.5 | 3.1 |
RL-CP-02 | Vein #1 | 180o/-57o | 121.0 | 121.5 | 0.5 | 4.9 |
And | Footwall |
| 183.7 | 186.2 | 2.5 | 3.6 |
Incl | Footwall |
| 183.7 | 184.2 | 0.5 | 10.9 |
RL-CP-04 | Vein #1 | 180o/-56o | 111.5 | 112.0 | 0.5 | 3.0 |
RL-CP-05 | Vein #1 | 180o/-58o | 79.0 | 79.5 | 0.5 | 2.2 |
Hole RL-CP -03 did not intersect values >2 g/t Au | ||||||
The current drilling program targeted the quartz veins and related structures that were developed underground by Cole Gold Mines Ltd. in the 1930s. Drill targeting was based on historical plans of the underground workings that show the gold mineralized veins follow east-west striking shear structures that dip at approximately 65o north. The primary target was the Cole Property “discovery” vein that is identified as Vein #1 on government maps. Surface exposure of Vein #1 is currently covered by waste rock from underground development. Holes RL-CP-01 and -02 were drilled on a section approximately 75 m east of the Cole shaft. Holes RL-CP-03, -04 and -05 were drilled approximately 50 m east of the shaft.
In all of the drilled holes, the Vein #1 target is associated with quartz veins and sulphide mineralization in a rhyolite host rock that displays strong biotite, garnet, and silica alteration. Trace element analysis indicates the alteration is associated with strong Potassium (K) and Barium (Ba) enrichment. The immediate footwall of the Vein #1 target is well-defined by a shear zone and serpentinized ultramafic rocks. The two initial holes reported here returned low to moderate grade gold values from this target with the best intersection being 4.9 g/t Au over 0.5 m in RL-CP-02.
As a consequence of prospective geology in the footwall of the Vein #1 target, the holes were continued for approximately 50 m deeper than originally planned. Assay results from the lower portions of the first two holes have resulted in discovery of a new zone of footwall gold mineralization. The footwall mineralization is located 45 to 50 m below the Vein #1 target. This footwall zone provided the best intersection of the results reported here with 0.5 m at 10.9 g/t in hole CP-02 in a wider mineralized interval. This mineralization is hosted by altered rhyolite immediately below the contact with a gabbro intrusion.
In addition to the drill results, the Company has received assays on 157 surface channel samples with a nominal length of 50 cm from 6 outcrops in the hangingwall of the #1 vein. Channel sampling identified gold mineralized quartz veins in several locations associated with sericite-sulphide-silica alteration in sheared rhyolite. The best result was 7.7 g/t Au over 0.5 m with 2 other samples returning over 5 g/t Au. Additionally, the Company is pleased to report that surface grabs from quartz veins on the south shore of the small lake 1 km SW of Cole assayed up to 6.0 g/t Au. This is a new gold showing that warrants further exploration.
Based on these results the Company is currently evaluating plans for a follow up program in the 2022 field season. The Company is encouraged by the association of gold values with well-developed silica-sericite-sulphide-garnet alteration and K, Ba enrichment.
Stetham Uranium Project – Five grab samples from the Stetham Uranium Project, near Gogama, Ontario, have returned anomalous Uranium (U) values with the best sample being a syenite pegmatite that assayed 622 ppm U and 623 ppm Molybdenum (Mo). These U results are consistent with historical drilling intercepts. Grab samples were analyzed at ActLabs, Ancaster, Ontario using INAA for U. The Company will conduct additional field work to follow up on this results in the coming field season.
Drill Program QA/QC – This phase of the Cole drilling program was carried out under the supervision of Dr. Richard Sutcliffe, P. Geo., a Qualified Person as defined in NI43-101. Reported intersections are drilled lengths and true widths are approximately 90% of drilled lengths for holes oriented at 180o azimuth and 55 to 57o inclinations. Drill core is NQ diameter and samples were split by Company staff using a diamond blade rock saw, with half of the core retained in the core box and stored on the Cole Property. The drill core samples were transported in sealed bags by courier to Activation Laboratories ("Actlabs") in Ancaster, Ontario. Actlabs is an independent ISO/IEC 17025 certified laboratory. Au analysis was performed using a 50 grams fire assay with an initial AA-finish. Results over 5 g/t Au were re-assayed with gravimetric finish and/or screen metallic Au analysis. Certified standards, blanks and duplicates are placed in the sample stream at a rate of one QA/QC sample per 10 core samples. All QA/QC analyses associated with the results in this press release were determined to be acceptable for the purposes of the release.
Garry Clark, P.Geo, a qualified person under National Instrument 43-101, is the qualified person responsible for reviewing and approving the geological contents of this news release as they pertain to the Cole Gold Mines Property.
About the Cole Gold Mines Property
Rockland Resources Ltd. is acquiring a 100-per-cent interest in the Cole Gold Mines Property, located in Ball township, Red Lake Mining Division, Ontario. The Property consists of 28 mining claims (568 ha) located 30 km west of the Cochenour, Campbell, Red Lake mine complex owned and operated by Evolution Mining. The Property hosts high-grade gold mineralization in a classic Red Lake-type structurally controlled gold deposit environment and represents a rare opportunity to explore a strategically located asset in one of the most active, prolific producing mining districts in Canada.
About Rockland Resources Ltd.
Rockland Resources is engaged in the business of mineral exploration and the acquisition of mineral property assets for the benefit of its shareholders.
On Behalf of the Board of Directors
Dr. Richard Sutcliffe
President and Director
For further information, please contact:
Mike England
Email: mike@engcom.ca
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
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