VANCOUVER, BC / ACCESSWIRE / November 22, 2017 / Roughrider Exploration Limited (TSX-V: REL) ("Roughrider") is pleased to announce the acquisition by staking of the 4,016 hectare "Sterling Property," located eight kilometres north of Houston, BC and 14 kilometres north of the Company's recently staked 100% owned Silver Ace property (see News Release November 16, 2017).
"We are excited to be able to expand our mineral property inventory in the Houston valley area with a strong exploration opportunity like Sterling," commented Roughrider CEO, Scott Gibson. "It is also a great benefit to the company to be able to do so for the cost of staking only and with no third-party obligations. The combination of high in situ grades at several vein occurrences and proximity to large scale mineralized systems with surrounding covered areas make Sterling a prime candidate for the application of modern exploration techniques to search for undiscovered mineralization."
The Sterling Property lies within the Stikine Terrane of central British Columbia, encompassing intrusive rocks of the Early Jurrasic Topley, Late Cretaceous Bulkley, and the Eocene Goosly Plutonic Suites. On the Sterling Property, multiple stocks of the Topley, Bulkley, and Goosly Plutonic Suites intrude Lower Jurassic Hazelton Group (Telkwa Formation) calc-alkaline volcanic rocks and Upper Jurassic Bowser Lake Group sedimentary rocks. Regionally, Bulkley, and Goosly Plutonic Suite intrusive rocks are associated with copper-silver-gold/molybdenum-silver-gold mineral systems including, respectively, the New Nadia Explorations Limited's Silver Queen prospect 45 kilometres to the south and the former producing Equity Silver mine 40 kilometres to the southeast.
The ground that makes up the Sterling Property was selected based on geological factors that management considers make it prospective for intrusive associated, breccia vein-hosted precious metal deposits, including:
- Historic high-grade silver-base metal veins on the north part of the property, including the Christina, Gwenda, Paola and Monica vein showings (Adriatic Resources Corp.; 1984 Assessment Report 13364). Sampling and drill intercepts reported from the property include:
North Sterling Property: Historic Mineral Occurrences
* Gold assay values calculated to grams/tonne from historic quoted ounces/ton (I.0 oz/ton = 34.28 g/t).
- The historic Joe B polymetallic Ag-Cu-Pb-Zn vein occurrence on east side of the Sterling Property (MinFile 093L 206). The Joe B is described in the 1928 BC Ministry of Mines Annual Report as a 22.9 centimetre vein that assayed trace gold, 548.56 g/t silver and 0.7% copper.
- Proximity to a large mineralizing system, in this case the Late Cretaceous Bulkley Plutonic Suite associated Alaskite molybdenum deposit of Bard Ventures Ltd., a 43-101 compliant, measured and indicated resource of 110.3 million tonnes grading 0.083% Mo (cut-off grade of 0.04 % Mo).
- Strong to moderate anomalous BCGS regional stream geochemical signatures on the property and the immediate surround area in a number metals and pathfinder elements, including: Ag, Cu, Mo, Zn, Pb, As and Sb.
- Excellent infrastructure in the area, including the community of Houston 8 kilometres to the south, Highway 16, a 500 KV hydroelectric transmission line and natural gas pipeline within 3 kilometres and good road access on the property.
The Sterling property extends roughly 15 kilometres along the east and north perimeter of Bard Ventures Ltd's Lone Pine Property where between 2007 and 2011 Bard defined the Alaskite molybdenum deposit, a 43-101 compliant, measured and indicated molybdenum resource of 110.3 million tonnes grading 0.083% Mo (cut-off grade of 0.04 % Mo). Known mineral prospects on the Lone Pine Property, including the Alaskite deposit, are closely associated with intrusive rocks of the Bulkely Plutonic Suite. The Quartz Breccia Zone is highlighted by a 188.27 metre, 2008 drill intercept that graded 0.54 g/t gold (core hole BDQ-08-04).
Roughrider is investigating the acquisition of additional properties in the region, either through staking or earn-in agreements. Exploration plans for Sterling, Silver Ace and other area projects, if acquired, will be reported when compilation and interpretation of historic and regional results are completed.
Genesis Uranium Update
As noted in the news release of October 10th, Roughrider and partner Kivalliq Energy recently completed a 1,223 km. ZTEM survey over four grid areas on the Genesis Uranium project in the Athabasca Basin area of Saskatchewan. The goal of the survey is to further define drill targets on this large project area. Management expects to receive final modelled results and interpretation from the survey in the next few weeks.
Qualified Person
David Tupper, P. Geo. is a qualified person ("QP") within the context of National Instrument 43-101, and has prepared, read and approved the technical aspects of this news release.
About Roughrider Exploration Limited
Roughrider and its partner, Kivalliq Energy, are exploring the Genesis uranium project located in the Wollaston-Mudjatik geological trend extending northeast from Saskatchewan's Athabasca Basin. In addition, Roughrider recently acquired an option to earn a 100% interest in the Iron Butte project in Nevada which contains an historic bulk tonnage gold resource and has now added the Silver Ace and Sterling projects in central British Columbia.
For further information, please contact:
Scott Gibson
Chief Executive Officer
604 697‐0028
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING HISTORICAL INFORMATION:
Historical information contained in this news release regarding the Roughrider's Sterling property or properties adjacent to it or in the area are repeated for historical reference only and cannot be relied upon as its QP, as defined under NI-43-101 has not prepared nor verified the historical information.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by the company, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.
SOURCE: Roughrider Exploration Limited