Vancouver, British Columbia, January 31st, 2024, Rockland Resources Ltd. (the “Company” or "Rockland") (CSE: RKL) announces the signing of an option agreement to earn a 100% interest in the “Pipestone North Property” (“PN Property”), located contiguous, and north and northwest, of the Company’s 100% owned Cole Gold Mines Property, located in the western portion of the prolific Red Lake gold district of northwestern Ontario.
“Red Lake is known to be one of the most prolific gold camps in the world and we are excited to have expanded our position in the camp.” stated Mike England, CEO of Rockland Resources.
Located approximately 32 kilometres (km) west of the town of Red Lake, the 1,015-hectare Pipestone North Property is contiguous on its eastern boundary with West Red Lake Gold Mines Ltd.’s (“WRLG”) Rowan property (Mount Jamie portion). The acquisition of the PN Property increases the Company’s holdings to 1,583 ha covering approximately 3.0 km strike length of the east-west trending Pipestone Bay St Paul Deformation Zone (“PBDZ”). On West Red Lake Gold Mines' properties to the east, three former gold mines – Rowan Mine, Mount Jamie Mine, and Red Summit Mine – are all situated along the PBDZ structural zone.
*The historical estimates do not meet current standards as defined by NI 43-101 and therefore should not be relied upon.
The Pipestone North property is significantly underexplored compared to many properties and prospects in the Red Lake district, due to limited road access, and the distance from the principal Red Lake gold mines. The most significant recent exploration was completed by Redstar Gold Corp. (“Redstar”), from 2002-2004. Highlights on the Pipestone North property include:
The Company will compile the historical geophysical and geological data over the Pipestone North property in preparation of a summer field program, in association with activities on the Cole Gold Mines property.
To acquire a 100% interest in the Pipestone North property Rockland will pay a cumulative $60,010 cash, issue 1,000,000 shares and spend $1,000,000 over a 4 year period.
Matthew Long, 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 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.
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