Vancouver, British Columbia, November 14th, 2023 Rockland Resources Ltd. (the “Company” or "Rockland") (CSE: RKL) announces that, along with lithium and beryllium exploration programs in Utah, the Company is reactivating exploration plans for its 100% owned Cole Gold Mines Property, located in the western portion of the prolific Red Lake gold district of northwestern Ontario. The region has captured heightened attention recently, driven by surging gold prices and the vigorous exploration efforts of West Red Lake Gold Mines (“WRLG") on the adjacent Rowan property to the east of Cole Gold Mines Property.
Gold mineralization in the west Red Lake area is associated with the regional east-west trending Pipestone Bay St Paul Deformation Zone, with the past producing Rowan Mine, Mt Jamie Mine and Cole Gold Mine, and several other gold occurrences, located near and along this major structural feature.
Exciting developments unfold at the Rowan Mine property as West Red Lake reveals additional drill results (refer to WRLG PR, November 9, 2023). These findings indicate that the high-grade East zone extends impressively to a vertical depth of 490 meters. Current producing gold mines the Red Lake District report gold mineralization to depths greater than 4 kilometers, indicating a very robust gold system.
The historical development of the Cole Gold Mine, spanning from 1926 to 1938, showcased an impressive vertical shaft extending to 162 meters. The underground development reached a substantial 2,135 meters across four levels, with the deepest point reaching 152 meters. Additionally, the mine underwent approximately 1,250 meters of underground diamond drilling. Surface drilling on the Cole Gold Mine property has been very limited with the Company’s program in 2021 (5 holes, 996 metres) and a historic program in 1973 by Kerr Gold Mines (19-holes, 2,108 m).
With only a limited drill data base available, it is proposed to reprocess and reinterpret the high-resolution airborne magnetic survey flown over the mine area in 2020. The Company is proposing to contract magnetic inversion modeling to assist the interpretation of structural features important in determining the plunge of individual ore shoots on the property for testing with additional drilling.
Highlights from the Company’s 2021 drill program include the intersection of the gold mineralized quartz vein system developed by the historical Cole Gold Mines Ltd.'s underground workings (vein No. 1) and newly discovered foot wall gold mineralization in rhyolite with strong biotite, garnet, silica alteration and associated sulphides. Hole RL-CP-02 intersected 0.5 metre at 4.9 grams per tonne (g/t Au) in vein No. 1 and 2.5 m at 3.6 g/t Au, including 0.5 m at 10.9 g/t, in the Footwall zone.
Drill program quality assurance/quality control (QA/QC) -- This 2021 Cole drill program was carried out under the supervision of Company personnel, under National Instrument (NI) 43-101 standards. Reported intersections are drilled lengths and true widths are approximately 90 per cent of drilled lengths for holes oriented at 180 degrees azimuth and 55-to-57-degree inclinations. Drill core is NQ diameter and samples were split by company staff using a diamond blade rock saw, with half of the core retained in the core box and stored on the Cole property. The drill core samples were transported in sealed bags by courier to Activation Laboratories in Ancaster, Ont. Actlabs is an independent ISO/IEC 17025 certified laboratory. Au analysis was performed using a 50-gram fire assay with an initial AA-finish. Results over five g/t Au were reassayed with gravimetric finish and/or screen metallic Au analysis. Certified standards, blanks and duplicates are placed in the sample stream at a rate of one QA/QC sample per 10 core samples. All QA/QC analyses associated with the results in this press release were determined to be acceptable for the purposes of the release.
Rockland also announces that it has granted an extension to Recharge Metals Limited to September 30, 2024 with regards to the Wapistan option agreement dated June 13, 2023.
Garry Clark, PGeo, 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 Rockland Resources Ltd.
Rockland Resources is engaged in the business of mineral exploration and the acquisition of mineral property assets for the benefit of its shareholders. The Company also now owns 100-per-cent of the Cole Gold Mines property, located in Ball township, Red Lake mining division, Ontario. The Cole Property hosts high-grade gold mineralization in a classic Red Lake-type structurally controlled gold deposit environment.
On Behalf of the Board of Directors
Michael England, CEO & Director
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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).Back To Archive