CSE: RKL
Vancouver, British Columbia, July 20, 2022: Rockland Resources Ltd. (the "Company" or "Rockland") (CSE: RKL) is pleased to report that the Company has recently staked an additional 464 lode claims on the Lithium Butte Property in Juab County, Utah, USA. Including the original 60 claims, the Property now comprises a total of 524 claims with an area of 10,670 acres (4,320 ha). On June 29, 2022, the Company reported grab samples that contained up to 4,080 ppm lithium in claystones derived from rhyolite tuff-breccia on the Property (see Rockland June 29, 2022 press release). Rockland has initiated a soil sampling program to follow up on the grab sample results to determine the areal extent of claystone lithium mineralization and define additional exploration targets. The Lithium Butte Property is in the Basin and Range geological province of west-central Utah and is well situated 185 km southwest of Salt Lake City.
Figure 1. Location map of the Lithium Butte property
As reported on June, 29, 2022, Rockland obtained five grab samples of clay altered rhyolite tuff breccia from the property that assayed from 4,080 ppm lithium to 1,200 ppm lithium with an average of 2,142 ppm lithium. The soil sampling program will cover the 10,670 acre property with an estimated 995 soil samples taken at 150 m intervals on east-west lines spaced at 300 m for a total of 145.5 line-km of sampling. Samples will initially be analyzed in the field by handheld Laser Induced Breakdown Spectroscopy (LIBS) capable of light metal detection. Results of the survey are anticipated in early autumn and expected to generate lithium exploration targets for follow up drilling. Work on the property by previous operators including Redhill Resources Corp. in 2011 and Anaconda Copper Mining Company did not focus on lithium.
In addition to the soil sampling program, Rockland will channel sample the outcropping exposure of clay altered tuff-breccia where the previously reported grab samples were obtained. The exposure has a stratigraphic thickness estimated to be greater than 20 m and contains at least two intervals of claystone mineralization, each of which is several meters in thickness. Samples will be analyzed for Li and other elements at an independent assay laboratory using sodium peroxide fusion and inductively coupled plasma mass spectrometry (ICP-MS).
Dr. Richard Sutcliffe, Rockland’s President stated “Although this project is at an early stage, we are extremely pleased with the results to date and the progress that we are making at Lithium Butte. Rockland has been an early mover in the Utah Basin and Range Province for claystone lithium exploration and we have assembled an exciting property package. Our early stage sampling has returned significant lithium assays and Lithium Butte has many of the hallmarks of successful lithium claystone projects including: volcanic source rocks with elevated lithium content; geothermal fluid activity; containment basins; clay altered horizons; and favourable structure. We look forward to reporting new results on this promising project.”
Rockland can acquire an initial 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. The additional claims that have been 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 claims being acquired in the area. Rockland has the right to buy back a half percent of the NSR to reduce it to 1% at any time for $1,000,000 Cdn. A finder's fee may be payable on the Lithium Butte acquisition, with any share compensation subject to a four-month-and-one-day hold period."
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 and 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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