Bob Moriarty of 321 Gold explains why he is excited concerning the drill outcomes at this firm’s copper mine.
It is no secret that copper is each in extreme scarcity with growing demand on the identical time manufacturing is declining. A brand new Canadian primarily based junior exploration firm has an fascinating path they’re transferring in. Rockridge Sources Ltd. (ROCK:TSX.V) needs to make use of trendy superior expertise to check outdated mining camps in protected jurisdictions.
Their newest drill outcomes from their Knife Lake deposit in Saskatchewan appear to point they’re on to one thing. Aided by Ron Netolitzky of the Canadian Mining Corridor of Fame, the corporate decided to give attention to identified areas of mining that hadn’t been explored with trendy strategies.
The Fraser Institute ranks Saskatchewan because the #three highest mining jurisdiction on this planet. Rockridge is busy drilling their Knife Lake VMS deposit with a identified however historic useful resource of 20 million tonnes of zero.6 copper and zero.1 g/t gold.
Knife Lake is positioned within the Flin Flon mining camp, dwelling to manufacturing of over 170 million tons of ore from 31 totally different VMS deposits since 1915. Rockridge is within the midst of a diamond core drill program of some eight to 10 drill holes. That is the primary drilling on the venture since 2001. This system has two objectives; one is to substantiate previous drill outcomes and to increase the realm of identified mineralization.
Early outcomes have been glorious. On April 30th the corporate launched the primary two drill holes and intersected 1.28% copper and 1.49% CuEq over 33.1 meters 7.5 meters from the floor together with a 2nd gap exhibiting 43.eight meters of zero.93% CuEq. That was adopted every week later with one other launch exhibiting 2.03% copper and a couple of.42% copper equal over 37.6 meters ranging from 11.1 meters depth.
On June 10th they made yet one more good report exhibiting 2.01% copper and a couple of.45% CuEq over 15.2 meters from 5.1 meters down gap. Buyers ought to take into account that even at $2.65 copper, a 1% intercept is value $58 within the floor. Rockridge is releasing glorious outcomes close to floor in the most effective locations on this planet to mine.
Rockridge picked up the venture from Eagle Plains beneath an possibility calling for ROCK to pay a complete of $150,000 and to subject 2 million shares up entrance and to spend $three.25 million in exploration and to subject an additional three,250,000 shares over a 5 12 months interval. The venture is topic to a 2.5% NSR.
Based mostly on the historic studies and this newest drill program, Rockridge can be releasing a present 43-101 round mid-July.
With simply over a 5 million greenback market cap and a identified useful resource, the inventory is fairly low-cost. It is a pure wager on each copper and growing instability within the mining world. The district is thought, infrastructure is in place and so they have strong administration and nice advisors.
The corporate has finished a superb job of communication and for all potential buyers I recommend studying their glorious company presentation.
Rockridge is an advertiser. I don’t but personal shares. Do your personal due diligence.
ROCK-V $zero.23 (Jun 11, 2019)
RRRLF-OTCBB 25.four million shares
Rockridge Sources web site.
Bob and Barb Moriarty introduced 321gold.com to the Web virtually 16 years in the past. They later added 321power.com to cowl oil, pure gasoline, gasoline, coal, photo voltaic, wind and nuclear power. Each websites function articles, editorial opinions, pricing figures and updates on present occasions affecting each sectors. Beforehand, Moriarty was a Marine F-4B and O-1 pilot with greater than 832 missions in Vietnam. He holds 14 worldwide aviation data.[NLINSERT]
1) Bob Moriarty: I, or members of my instant family or household, personal shares of the next firms talked about on this article: None. My firm has a monetary relationship with the next firms talked about on this article: Rockridge Sources is an advertiser on 321 Gold. I made up my mind which firms can be included on this article primarily based on my analysis and understanding of the sector.
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