Gold

Rockridge Sources Reviews 7 Assays

Peter Epstein of Epstein Analysis outlines the most recent information from this explorer, together with an intercept of 15m at 2.45% copper equal.

Rockridge Sources Ltd. (ROCK:TSX.V) is an exploration firm targeted on buying, exploring and growing mineral useful resource properties in Canada. Its focus is copper and base metals—extra particularly base, inexperienced power and battery metals—of which copper is all three. It’s targeted in not simply in anywhere, solely top-tier mining jurisdictions similar to Saskatchewan. And solely in mining districts which have had vital previous exploration, improvement or manufacturing. And solely on tasks in shut proximity to key infrastructure. Rockridge’s administration workforce, advisors and board expertly and methodically get rid of lots of the threat components, early on, that may kill tasks. It is a great workforce for an organization with a market cap of simply CA$5.6 million (CA$5.6M) / US$Four.2M.

New CEO Bolsters Already Sturdy Crew

Late final month, Rockridge appointed Grant Ewing, P.Geo, to be its new CEO. Jordan Trimble stays as president and a director. Grant has greater than 25 years’ expertise within the metals and mining area. His experience covers the mine improvement cycle, from early stage exploration by to manufacturing. I spoke with Grant final week and was impressed along with his very in depth data of base metals and his understanding of the district that hosts the corporate’s Knife Lake venture. Grant appears to be a really perfect individual to assist advance the venture and make new discoveries. Please see extra about CEO Grant Ewing, P.Geo, right here.

The corporate’s flagship venture, Knife Lake, is in Saskatchewan, Canada (ranked the third finest mining jurisdiction on the planet), within the Fraser Institute Mining Firm Survey. The venture hosts a near-surface, (high-grade copper) VMS (volcanogenic large sulphide) copper-zinc-silver-gold-cobalt deposit, open alongside strike and at depth. Administration believes that there is sturdy discovery potential in and across the deposit space, and at extra targets on roughly 85,200 hectares of contiguous claims. As a reminder, Rockridge has an possibility settlement with Eagle Plains Sources to accumulate a 100% curiosity within the majority of the Knife Lake VMS deposit.

Flagship Mission, Knife Lake, 12 Drill Gap Outcomes Now In

The venture is throughout the well-known Flin Flon-Snow Lake mining district that incorporates a prolific VMS base metals belt. Administration believes there’s great exploration upside. The purpose? Excessive-grade discoveries in a mineralized belt that might host a number of deposits, as VMS–fashion zones typically include clusters of mineralized zones. After all, the trick is discovering them.

Nonetheless, no fashionable exploration, drilling technique or know-how has been deployed at Knife Lake. It was found 50 years in the past and final explored within the late 1990s. Airborne geophysics, regional mapping and geochemistry was accomplished, however applied sciences have improved. Administration believes that fashionable geophysics; excessive decision, deep penetrating EM and drone magazine surveys to cowl massive areas intimately, may make a giant distinction.

Earlier this yr, Rockridge drilled 12 holes for a complete of 1,053 meters. Importantly, this represents the primary vital work on the property since 2001. Readers could recall from studying previous articles and interviews on Epstein Analysis, Fairness.Guru and Aheadoftheherd, and viewing movies of then-CEO Trimble, that the corporate’s main purpose is to discover districts which have been underexplored, by no means explored or not just lately explored. Administration’s extremely expert and skilled technical workforce and advisors deploy the most recent exploration applied sciences and strategies. Lots has modified in 18 years; a easy instance can be using lower-cost, high-resolution drones to fly varied surveys.

These 12 assays, added to the historic database, will generate a brand new NI 43-101 mineral useful resource estimate in late July or early August. This will likely be a serious milestone that may hopefully draw the eye of potential strategic companions. Subsequent to that de-risking occasion, Rockridge is funded for a summer season exploration program that may seemingly stretch into fall. The purpose is to establish and refine targets at depth and regionally. Trendy vectoring strategies will likely be deployed, utilizing steel ratios and structural interpretation to establish “main” VMS deposits.

Different fashionable strategies embody high-resolution geophysics, deep-penetrating EM to establish conductors, and drone magazine surveys to cowl massive areas intimately. Lastly, floor work and sampling will likely be performed, analyzing rock geochemistry to establish potential VMS-style hydrothermal programs. Importantly, very restricted earlier drilling was accomplished beneath 100 meters (100m), however of the deeper holes, a number of intersected mineralization at round 300m. May they be mineralized lenses?

Greatest Intercept from First 5 Holes: 37.6 m of two.42% Cu Eq.

Final month Rockridge reported extra outcomes from its winter diamond drill program. The primary 5 holes are proven within the chart above. Readers could recall that a key takeaway was that holes KF19001 and KF19002 largely confirmed historic grades, intercept widths and geological circumstances. Gap KF19003, reported on Might 7, was a blockbuster—37.6m of two.42% copper equal (Cu eq.), considerably higher than the primary two holes. KF19003 had a grade (Cu eq.) x thickness (in meters) worth of 91, in comparison with 41 and 49. Importantly, it confirmed high-grade mineralization up-dip of KF19002 in an space the place no historic drilling is thought to have been accomplished. Due to this fact, this assay, and maybe close by assays to comply with, may probably enhance the scale and grade of the upcoming mineral useful resource estimate.

Greatest Intercept in Final 7 Holes: 15.2 m of two.45% Cu Eq.

Within the firm’s June 10 press launch, holes KF19006 by KF19012 didn’t include any blockbusters, however six of seven had been properly mineralized, with Cu eq. values starting from zero.46% to 2.45%. The interval widths averaged practically eight meters. The perfect intercept was 15.15m at 2.45% Cu eq. in gap KF19006. This intercept is an efficient one, like these present in holes KF19001 and KF19002, reported within the April 30 press launch. Importantly, KF19006 examined the up-dip extension of the Knife Lake deposit in an space that had not been beforehand examined. Likewise, gap KF19007 examined the down-dip extension of the deposit close to KF19006. KF19007 intersected a strong 2.95 m of zero.82% Cu eq. grade. The newest property map offered from right now’s press launch is simply too massive to suit comfortably inside this text, please click on on hyperlink right here.

Rockridge’s CEO, Grant Ewing commented: “The Knife Lake property package deal is extremely potential for brand new discoveries utilizing fashionable exploration strategies and strategies given the shortage of current subject work. The recognized deposit is considered a remobilized portion of a presumably bigger main VMS deposit, and there may be glorious potential for deposit enlargement at depth which we plan to check in future packages. Moreover, there are a number of top quality targets to check on the expansive landholding, and there have but to be satellite tv for pc deposits found within the neighborhood as VMS programs typically host clusters or stacked deposits.”

One thing I discovered fascinating had been the 2 parts of the 15.2m intercept in KF19006 that assayed 7.25m of zero.72 g/t gold, (from eight.75 to 16.0m), and 5.0m of zero.93 g/t gold, (from 11.zero to 16.0m), each inside 16.0m of floor. These two grades (true widths undetermined) are the best gold values reported so far. The zero.93 g/t exhibiting is almost 50% greater, and 1.0m longer, (5.zero versus Four.0m) than the following highest-grade gold exhibiting, in blockbuster gap KF19003. Whereas intriguing, these values in isolation could not quantity to a lot. Nonetheless, they’re price maintaining a tally of.

Rockridge’s president and director, Jordan Trimble, commented: “The outcomes from this first-pass drill program have exceeded our expectations with nearly all drill holes having intersected high-grade copper mineralization, and in doing so, we now have efficiently confirmed the tenor of mineralization reported by earlier operators, whereas increasing recognized zones of mineralization. We’re working in direction of issuing an NI 43-101 compliant useful resource estimate in addition to planning a regional summer season subject program, each of which can present regular information move and catalysts over the close to time period. We’ll proceed to execute on our worth creation technique of going into ignored however potential tasks in prolific mining jurisdictions and utilizing fashionable exploration methodologies to check new concepts and make new discoveries.”

The deposit stays open at depth. Further discoveries are very attainable because the property is almost 85,200 hectares in dimension and vastly under-explored. The winter drill program offers the corporate’s technical workforce useful details about geology, alteration and mineralization that will likely be utilized to regional exploration targets. The corporate is now working towards finishing an NI-43-101-compliant useful resource estimate for Knife Lake with the outcomes from this drill program. A summer season exploration program can be being deliberate, particulars to comply with.

Conclusion

As talked about, Rockridge Sources has an incredible workforce—administration, board and advisors—for an organization with a market cap of CA$5.6M = US$Four.2M. Readers ought to take simply 5 to 10 minutes to assessment the corporate’s new June Company Presentation. And, the most recent press releases might be discovered right here. The flagship Knife Lake venture is massive sufficient, at ~85,200 hectares, to maintain the corporate busy for years to return. Even when administration had been to farm out (get free-carried) a portion of the property, there would nonetheless be tens of 1000’s of hectares remaining to discover in a prime mining district in Canada.

Copper costs are down into the ~US$2.60/lb. from near ~US$three/lb., however near-term fluctuations within the worth are meaningless for anybody who believes that copper is required for 1) clean-green power storage, 2) the worldwide electrification of passenger and industrial automobiles, and three) the surge of infrastructure constructing wanted to accommodate a rising world middle-class inhabitants migrating to ever-larger cities. To not point out the rebuilding of outdated and destroyed infrastructure like buildings, roads and bridges. Every thing makes use of copper; every part will proceed to make use of copper. The worth of copper has to rise, or there will not be sufficient copper: It is that easy. A number of consultants consider that the copper worth is headed to US$Four-$5/lb. by 2020 or 2021. In that case, an organization like Rockridge Sources has lots of leverage to that final result.

Peter Epstein is the founding father of Epstein Analysis. His background is in firm and monetary evaluation. He holds an MBA diploma in monetary evaluation from New York College’s Stern College of Enterprise.

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Disclosures: The content material of this text is for data solely. Readers absolutely perceive and agree that nothing contained herein, written by Peter Epstein about Rockridge Sources, (collectively, [ER]) together with however not restricted to, commentary, opinions, views, assumptions, reported information, calculations, and so on. is to be thought-about implicit or specific funding recommendation. Nothing contained herein is a advice or solicitation to purchase or promote any safety. [ER] shouldn’t be accountable underneath any circumstances for funding actions taken by the reader. [ER] has by no means been, and isn’t at present, a registered or licensed monetary advisor or dealer/seller, funding advisor, stockbroker, dealer, cash supervisor, compliance or authorized officer, and doesn’t carry out market making actions. [ER] shouldn’t be immediately employed by any firm, group, group, social gathering or individual. The shares of Rockridge Sources are extremely speculative, not appropriate for all traders. Readers perceive and agree that investments in small cap shares can lead to a 100% lack of invested funds. It’s assumed and agreed upon by readers that they may seek the advice of with their very own licensed or registered monetary advisors earlier than making any funding selections.

On the time this text was posted, Peter Epstein owned inventory in Rockridge Sources and the Firm was an advertiser on [ER].

Readers perceive and agree that they need to conduct their very own due diligence above and past studying this text. Whereas the creator believes he is diligent in screening out firms that, for any causes in anyway, are unattractive funding alternatives, he can not assure that his efforts will (or have been) profitable. [ER] shouldn’t be liable for any perceived, or precise, errors together with, however not restricted to, commentary, opinions, views, assumptions, reported information & monetary calculations, or for the completeness of this text or future content material. [ER] shouldn’t be anticipated or required to subsequently comply with or cowl occasions & information, or write about any explicit firm or subject. [ER] shouldn’t be an knowledgeable in any firm, trade sector or funding subject.

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