VANCOUVER, BC / ACCESSWIRE / July 7, 2021 / Rockland Resources Ltd. (the "Company" or "Rockland") (CSE:RKL) is pleased to announce that it has commenced its initial 2,500 metre drill program at the Cole Gold Mines Property, Red Lake Mining Division, Ontario. The drilling campaign will focus on testing gold mineralization that was previously defined by Cole Gold Mines Limited's underground development work.
"We are delighted to have started our drill program on the Cole Gold Mines Property located at the west end of the prolific Red Lake Greenstone belt. It is particularly exciting that this is the first drilling program in almost 50 years that will target the historic high-grade gold resource that was developed in the 1930s" stated chief executive officer Mike England.
Rockland anticipates drilling approximately 12 holes in the current campaign. The majority of holes will test the historical resource in the area east of the existing Cole shaft. A limited number of holes may be drilled in the area immediately west of the Cole shaft and test the east-west trending magnetic low associated with the known mineralization (see Rockland's June 21, 2021 news release). In addition to the drilling, the Company has an excavator on site and anticipates completing overburden stripping and channel sampling on surface showings that expose mineralized quartz veins and associated shear zones. These showings in the vicinity of the Cole shaft have recently returned grab sample values up to 14.8 g/t Au. The property has an approved exploration permit PR-20-000368, that is valid until March 2024.
Rockland will drill NQ core and plans to submit sawn half core samples to Activation Laboratories (ActLabs) in Ancaster, Ontario for analysis. Rockland's sampling program will include a QA/AC program that will include duplicates, blanks, and certified reference standards in the sample stream.
The Cole Gold Property historically indicated high-grade gold values are associated with sphalerite-chalcopyrite-scheelite-bearing quartz veins in shear and structural zones in porphyry and felsic rocks, striking approximately east-west and dipping steeply to the north. Mineralization is associated with a magnetic low and is located in a regional structural corridor known as the Pipestone Deformation Zone. Underground development work by Cole Gold Mines in the 1930's included a vertical shaft to a depth of 161.5 metres (530 feet), with four levels established, and over 2,133.6 metres (7,000 feet) of drifting and crosscutting (mostly on vein) and 1,219.2 metres (4,000 feet) of underground diamond drilling.
Garry Clark, P.Geo, a qualified person under National Instrument 43-101, is the qualified person responsible for reviewing and approving the geological contents of this news release as they pertain to the Cole Gold Mines Property.
About the Cole Gold Mines Property
Rockland Resources Ltd. is acquiring a 100-per-cent interest in the Cole Gold Mines Property, located in Ball township, Red Lake Mining Divison, Ontario. The Property consists of 28 mining claims (568 ha) located 30 km west of the Cochenour, Campbell, Red Lake mine complex owned and operated by Evolution Mining. The Property represents a rare opportunity to explore a strategically located asset in one of the most active, prolific producing mining districts in Canada. The property hosts high-grade gold values in a classic Red Lake-type quartz vein and silica-sulphide replacement zones.
About Rockland Resources Ltd.
Rockland Resources is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration program on the properties. In addition to the Cole Gold Property, Rockland is exploring the Summit Old Timer Property that consists of three (3) mineral claims covering an area of 1,915 hectares located approximately 17 km southeast of the City of Nelson, within the Nelson Mining Division, British Columbia.
On Behalf of the Board of Directors
Richard Sutcliffe
President and Director
For further information, please contact:
Mike England
Email: [email protected]
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).
SOURCE: Rockland Resources Ltd.