Rockridge Resources (TSX-V: ROCK) CEO Grant Ewing on High-Grade Discovery at Raney Gold Project in Ontario
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Rockridge Resources (TSX-V: ROCK)(OTC: RRRLF), Mr. Grant Ewing. Grant, how are you this morning?
Grant Ewing: I'm doing excellent, thank you.
Gerardo Del Real: You had some pretty solid news this morning. I'm going to read the headline and then we can get into the details. You drilled 28 grams per tonne gold over 6 meters at 95 meters of vertical depth in new high-grade discovery at the Raney Gold project. Congratulations, first off. It's the first significant drill program, I believe in what, over a decade?
Grant Ewing: Yeah, that's right. So we went and started this program a few months back. We drilled an initial 2,000 meters in 9 drill holes. This was the first program at our Raney Gold project in well over a decade. We were following up on a relatively high-grade hit of 6.5 gram per tonne over 8 meters, drilled back about a decade ago.
So with the current announcement today, we've issued results for 6 holes out of the 9. We've still got another 3 pending. And then what we'll do is sit back and fully assess all of the results and do some detailed planning for the next program.
Gerardo Del Real: Hole 6 is the one that caught everyone's attention, those 28 grams per tonne gold over 6 meters. Now, I understand that was drilled 75 meters west of a historical drill hole that had returned 6.5 grams per tonne gold over 8 meters.
What are you understanding with this limited program thus far, what you're seeing from the core and the results that you've gotten thus far, as far as the mineralization goes?
Grant Ewing: Yeah, we've got sort of a new interpretation now, based on assessing historic data and work into our current program. What we have is a fairly broad alteration zone that's steeply dipping. It measures 125 meters thick or so, so well over 300 feet in thickness. This structural corridor that's altered, and has the quartz veins that bear the gold, extends over several hundred meters on our project. We just tested now about a 225-meter long section of this structure.
What we find is that where you have the higher density of quartz veins, we're getting the better grades. So far in addition to this high-grade intercept we announced today, there's three others from the historic drilling, the limited drilling done in the past.
So we know we have a system that can deliver some very high-grade gold in quartz veins. It's pretty coarse gold and so it can occur sporadically throughout this system. One of the very encouraging aspects of this program is that it's such a small area that's been tested and we have such a great strike length to look at now. About 2 kilometers west we have an interruption that we've just sort of assessed now in the old geophysical data, and that provides a very compelling target right on trend with this broad alteration zone.
Gerardo Del Real: I was going to ask about that, so I'm glad you touched on it. The last time you and I spoke, we talked about the excellent infrastructure the property has and, obviously, the fact that Newmont and IAMGOLD are at 35 kilometers and 75 kilometers away, respectively.
Can we talk a bit about the assays pending? You noted in the release that there's visual indications of mineralization in the drill core. Can you speak to that a bit?
Grant Ewing: Yeah, we've logged those holes and they're being processed for assays now. What we've done is, we've targeted this alteration zone with all 9 holes and some would have high-grade gold that's intercepted. Others would have lower grade gold, just due to the fact that perhaps the gold in the area that was drilled is weaker, it doesn't have the free gold. But what has to be done with this system is, you've just got to diligently drill it out now because the gold occurs sporadically throughout this structure and it's hard to predict until you get into and do your drilling, which holes are going to be the super high grade holes and which ones are going to carry the lower grade but still mineralized holes.
Gerardo Del Real: Do you have a timeline or a ballpark on when the balance of the assay results will come in and be reported?
Grant Ewing: Yeah, it'll be a couple of weeks away, we expect. Then we'll have the full assay results from the program and then have further word on the next program that we plan in this project.
Gerardo Del Real: Excellent. Anything else that you'd like to add, Grant?
Grant Ewing: Yeah, as you mentioned, this area has excellent access and infrastructure and it's in a world-class geologic setting. So it really ticks all the boxes for a successful exploration project. We can drive to the project from Timmins, Ontario in under two hours. That's part of the reason why we're able to drill this program, these 9 holes in 2,000 meters, very cost effectively, all in under $200 Canadian a meter. So that bodes very well for future exploration here. We can get in and do further exploration, very cost effectively here.
Gerardo Del Real: Exciting times. Anytime you test a new geological model and you end up with the best drill intercept ever on the project, you have to be happy with that.
Grant Ewing: Yeah, we are. We're extremely pleased with that hole 6 result. We've got a picture of that coarse gold and core on our website, so that can be accessed on the Rockridge Resources website. And yeah, we'll look to announce further results over the coming weeks here and then make detailed plans for more work on this high-potential project.
Gerardo Del Real: Fantastic. We'll chat soon. Thanks again.
Grant Ewing: Thank you so much.