Rolling Rock Resources
Corporation -
Beacon Hill Consultants (1988)
Ltd. of Vancouver, B.C. has presented, as a part of the Preliminary
Assessment (Scoping Study), a National Instrument 43-101 revised
resource estimate.
As indicated in the following
table the November 2008 revised resource estimate shows a substantial
increase in tonnes and total ounces gold ("Au") compared to
the January 2008 resource estimate. This increased resource was
estimated using revised vein interpretations and constraining solids,
which define the deposit more accurately. The estimated Inferred
resources are as follows:
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November
January 2008
2008 Revised
Estimate Estimate
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Percentage
Cut off g/t K Tonnes g/t Au K oz K Tonnes g/t Au K oz increase %
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3 4,888 6.01 944 6,304 5.98 1,212 28.3
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4 2,967 7.66 731 3,583 7.92 912 24.7
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5 1,936 9.38 584 2,308 9.85 731 25.1
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6 1,366 11.02 484 1,746 11.26 632 30.5
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7 1,008 12.63 410 1,257 13.13 530 29.2
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8 776 14.17 354 1,010 14.51 471 33.0
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9 604 15.8 307 800 16.10 414 34.8
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10 474 17.53 267 633 17.84 363 35.9
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11 381 19.25 236 506 19.69 320 35.5
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12 314 20.91 211 402 21.80 282 33.6
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Due to the uncertainty that may be attached to Inferred Mineral Resources,
it cannot be assumed that all or any part of an Inferred Mineral Resource
will be upgraded to an Indicated or Measured Mineral Resource as a result
of continued exploration.
Monument Bay is Rolling Rock's
100% owned flagship project that was acquired in March 2006 from what
was then Bema Gold Corporation and Wolfden Resources. Monument Bay is
located in Northeastern Manitoba, 350 kilometers southeast of
Thompson. Red Sucker Lake, with full hydro electric power and airport
services as well as winter road access, lies 60 kilometers to the
southwest. The project consists of 35 contiguous claims and a mining
exploration license covering 25,706 hectares in area.
The completed Preliminary
Assessment Proposal including capital costing is forthcoming and will
be reported and filed on Sedar when received.
Methodology
A total of 414 drillholes were
supplied for the Monument Bay Deposit which are the combined
drillholes for the A, A1, B, B1, C, C1, E, G70, X1, X2, 101, 102,
104, 125 and 146 zones. This includes drillholes from numerous
exploration drilling campaigns spanning 1989 through 2007. 1989 - 14,
1990 - 36, 1991 - 18, 2003 FN holes - 4, GSC 2004 holes - 7, 1991 MAK
holes - 5, 2005 MB hole - 1, 2000 SR holes - 11, 2003 SR holes - 4,
1990 STL holes - 7, 1991 STL hole - 1, 2000 TL holes - 12, 2002 TL
holes - 31, 2003 TL holes - 66, 2004 TL holes - 74, 2005 TL holes -
69, 2006 TL holes - 26 and 2007 TL holes - 28. The holes drilled
during each successive campaign were mainly drilled to the south to
improve definition of the deposit and infill drilling for better
definition of resources. The drillholes within the database included
collars, downhole surveys, assays, and lithology.
- The complete dataset
including drillhole, assay, topography, surface features, geologic
data in UTM coordinates was supplied by the Rolling Rock.
- An average S.G. of 2.73 was
used for tonnage calculations.
- Solids models were created
using sectional interpretations that utilized vein intersections and
grade intercepts. The solids were used to then code the drillhole
assays and composites for subsequent geostatistical analysis.
- Solids were clipped to the
overburden surface.
-
Geostatistical analyses were performed on the composites using no
constraints in addition to the coded intervals within the mineralized
zone solids.
-
For the purpose of the resource model, the vein zone solids were
utilized to constrain the block model by matching assays to those
within the solids and those outside the solids zones.
-
In terms of selectivity and estimation quality, it was decided that a
2.0m composite provided the best compromise between number of
composites available for estimation, and a reasonable degree of
dilution and regularization.
-
37.5 gpt was chosen as the most reasonable threshold at which to cut
grades. However, the range chosen at which to limit grades greater
than 37.5 gpt was 20 meters.
-
The ellipsoid direction chosen for the estimation process was chosen
to be a 93 degrees rotation about the Z axis, -30 degrees rotation
about the X axis and 73 degree rotation about the Y axis. Maximum
ellipse size was chosen to be 350m along the major axis, 275m along
the minor axis and 25m along the vertical axis.
-
The block size chosen was 10m x 1m x 10m oriented at rotated east,
north, elevation respectively, in an effort to adequately decretitize
the mineralized zones so as not to inject an inordinate amount of
internal dilution and to somewhat reflect drill hole spacing
available.
-
The choice of interpolator was inverse distance to the 3rd power. For
an open pit, bulk tonnage scenario, inverse distance to the second or
third power is preferred. However, in this case where we have large
high grade zones within which there are very high grade veins being
evaluated from an underground mining perspective, inverse distance to
a higher power is more appropriate as it localizes the grade to a
certain extent.
- Three estimation passes were
used to estimate the Resource Model because a better block-by-block
estimation can be achieved by using more restrictions on those blocks
that are closer to drill holes, and thus better informed. The three
passes are based on increasing levels of information used to estimate
blocks where each pass is done using being less constrained than the
previous pass.
- All blocks are classified as
inferred.
W. Peter Stokes, P.Eng.,
President of Beacon Hill Consulting Ltd., is independent of Rolling
Rock and is the Qualified Person in accordance with NI 43-101 and has
reviewed and approved the content of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rolling Rock Resources Corporation
Scott Angus
(604) 488-1456