Rockridge Commences Fieldwork at Fatou Gold Project, Mali, West Africa
06 4월 2010 - 10:00PM
Marketwired
Rockridge Capital Corp. (TSX VENTURE: RRC) ("Rockridge", the
"Company") is pleased to announce that field work has begun at the
Fatou gold project in southern Mali. Regolith mapping, termite
mound sampling and camp construction are underway in preparation
for a reverse circulation drilling program scheduled for May, 2010.
2010 Exploration Program
Due to extensive, recent artisanal workings influencing soil
conditions in several areas at Fatou, classical soil geochemical
sampling may not be reliable. Therefore, termite mound sampling in
conjunction with detailed regolith mapping is now being performed
with historical soil geochemical work being used as a base for
geochemical studies. An initial program of approximately 5,000
metres of reverse circulation drilling is scheduled to commence in
May.
Description of the Project
The Fatou Gold Project is located in southern Mali,
approximately 20 km north of the border between Mali and Cote
d'Ivoire, approximately 250 km southeast of the capital city of
Bamako. The Fatou exploration permit covers 250 square km and is
located about 250 km south-east of Bamako, approximately 100 km
south of Anglogold-Ashanti/Randgold's Morila gold mine and
approximately 60 west of Resolute's Syama gold mine. Access is via
a paved highway from Bamako to Zantiebougou and then by a 45 km
laterite road to the permit area.
Regionally the property is situated within an extensive area of
metaclastic sediments of Proterozoic Age. Locally, geology consists
of felsic intrusives on the western part, metavolcanics in the
southwestern corner with the metasediments dominating the central
and eastern part. The metasediments include greywacke, siltstones,
sericitic and chlorite schist, and graphite schist. Two major shear
zones striking northeast and secondary northwest and northeast
structures occur in the permit area.
Historical Work
Initial exploration at Fatou, consisting of predominantly soil
sampling geochemistry work, was completed by the DNGM, the Malian
mining and geological directorate and property optionor Bagoe
National SARL ("Bagoe"). According reports provided by Bagoe, a
limited follow up program of RAB and RC drilling was completed by
Anglogold Exploration. This program tested two small grid areas
within the current Fatou license area and is highlighted by the
following results:
F078RAB - 15m @ 2.25g/t Au (RAB)
F022RAB - 24m @ 1.38g/t Au (RAB)
F023RAB - 20m @ 1.22g/t Au (RAB)
F001RC - 17m @ 0.99g/t Au (RC)
Rockridge management advises that these results are historical
in nature, are not substantiated by work completed by the company
and are not to the standards of NI 43-101.
As a result of this drilling, a large artisanal mining camp of
several thousand miners has been established with gold being
produced with rudimentary techniques. Mining takes place along a
southern trend stretching approximately 500 metres in an
east-northeast trend and along a parallel northern trend of similar
size. The south trend overlies the contact between the Birimian
metasedimentaries and felsic intrusives.
Under the terms of the Option agreement, Rockridge can acquire a
100% interest in the Fatou Project exploration license by making
Option payments totaling $800,000 over three years and completing a
minimum of 5,000 metres of exploration drilling. Rockridge will be
the Operator of the project. At such time as Rockridge receives an
Exploitation Permit from the Malian government, a new company will
be formed and the owners of the company will be Rockridge 85%, Mali
government 10%, Bagoe 5%. Bagoe will also retain a 2% NSR.
Rockridge will have a right of first refusal to purchase Bagoe's 5%
interest in the new company or its 2% NSR.
The Qualified Person for Rockridge Capital Corp. under National
Instrument 43-101 is Mr. Lorne Warner, P.Geo.
ON BEHALF OF THE BOARD OF DIRECTORS OF ROCKRIDGE CAPITAL
CORP.
Karl Kottmeier, President
The TSX Venture Exchange has in no way passed upon the merits of
the proposed transaction and has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
press release.
Contacts: Rockridge Capital Corp. Karl Kottmeier President (604)
678-8941 Rockridge Capital Corp. Kirk Gamley V.P. Corporate
Development (604) 678-8941 (604) 689-7442 (FAX)
Rockridge Capital Corp. (TSXV:RRC)
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Rockridge Capital Corp. (TSXV:RRC)
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