CSE: RKL
Vancouver, British Columbia, June 29, 2022: Rockland Resources Ltd. (the "Company" or "Rockland") (CSE: RKL) is pleased to report that the Company has acquired the Lithium Butte Property located in the Basin and Range Province of west-central Utah, USA. Rockland representatives recently took grab samples that have resulted in assays returning up to 4,080 ppm lithium from claystones derived from rhyolite tuff-breccia on the newly acquired Lithium Butte Property.
Ten grab samples from the property were taken on a reconnaissance sampling program in May 2022. All of the grab samples are from a rhyolite tuff-breccia unit of Tertiary age that is known to contain elevated Lithium contents. Five grab samples of the tuff-breccia that had strongly developed clay alteration assayed from 4,080 ppm lithium to 1,200 ppm lithium with an average of 2,142 ppm lithium. The five samples were taken from an outcropping exposure of clay altered tuff-breccia with a stratigraphic thickness estimated to be greater than 20 m. The exposure contains at least two intervals of claystone mineralization, each of which is several meters in thickness.
Dr. Richard Sutcliffe, Rockland’s President stated “Although this project is at a very early stage, we are extremely encouraged by these high-grade lithium grab samples from volcanic-derived claystones on the Lithium Butte Property. The next stage of work will include channel sampling to confirm the thickness of the lithium-rich claystone units on the Property. Since the claystone is locally well-exposed and accessible to surface sampling, we anticipate that this work will be done this summer. Lithium Butte has many of the hallmarks of successful lithium claystone projects in the Basin and Range Province. These include: volcanic source rocks with elevated lithium content; geothermal fluid activity; containment basins; clay altered horizons; and favourable structure.”
The Lithium Butte Property consists of 60 lode claims on BLM lands covering approximately 1,200 acres (486 ha) in west central Utah. The Lithium Butte Property will be part of a regional lithium exploration program that Rockland is developing in Utah. The Company is currently staking additional claims and will provide additional Property details once staking has been completed.
Rockland has acquired a 90% interest in the original Lithium Butte property (60 claims - 1,200 acres) by covering the staking and filing costs (paid), with the remaining 10% interest held by an arms-length third party. All remaining claims being staked by Rockland are owned 100% by the Company. There is a 1.5% Net Smelter Royalty ("NSR") payable to the same arms-length third party on both the original Lithium Butte property and all adjoining claims being acquired in the area.
Assay Program QA/QC – Initial grab sampling at Lithium Butte was carried out by Dr. Richard Sutcliffe, P. Geo., a Qualified Person as defined in NI43-101, who is also responsible for reviewing and approving the geological contents of this news release as they pertain to the Lithium Butte Claystone Property.
Samples were transported in sealed bags by the QP to Activation Laboratories ("Actlabs") in Ancaster, Ontario. Actlabs is an independent ISO/IEC 17025 certified laboratory. Li analysis was performed using sodium peroxide fusion and inductively coupled plasma mass spectrometry (ICP-MS).
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. In addition to the Utah Lithium Property, the Company is acquiring the 41,818-hectare Elektra project concessions that are contiguous with Gangfeng Lithium’s Sonora Lithium Clay Project located in Sonora, Mexico. The Company also holds an option to earn a 100-per-cent interest in the Cole Gold Mines property, located in Ball township, Red Lake mining division, Ontario. The Cole Property hosts high-grade gold mineralization in a classic Red Lake-type structurally controlled gold deposit environment.
On Behalf of the Board of Directors
Dr. Richard H. Sutcliffe, P.Geo.
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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