- W3
TARGET DRILLING : ULTRAMAFICS INTERSECTED, SIMILAR GEOLOGY AND
STRATIGRAPHY TO THE COMPANY'S W4 DEPOSIT HAS BEEN IDENTIFIED
- CORPORATE
PRESENTATION UPDATED, AVAILABLE ON COMPANY WEBSITE
Rogue
Resources Inc. (TSX-V:
RRS) (the "Company") is pleased to announce
preliminary results from recent drilling at its 100% owned Langmuir Nickel
Project near Timmins, Ontario. Drilling at the W3 target has intersected ultramafics, the same type of volcanic flow in which the
Company's W4 deposit is hosted as well as other nickel deposits and mines in
the immediate area.
The Company has used the Kambalda-type deposit
model for exploring in the Langmuir camp with several discoveries to date.
The Company recently completed six NQ-size holes on exploratory targets and
seven HQ-size holes on the W4 deposit which will be used for metallurgical
testing in ongoing scoping study level work. Assaying is now underway to
determine the nickel content of the ultramafics
which will be combined with other data to vector ongoing exploration towards
potential areas of elevated or concentrated nickel mineralization.
Exploration for Langmuir-type nickel deposits is a multi-step process:
- review
of regional geology to identify favourable
geological units using the Kambalda-type
deposit model
- identify
conductive targets using airborne geophysics and checking surface
geology if exposed,
- drill
test favourable flows (ultramafics)
for nickel sulphide mineralization based on
the model
The Company used this methodology to discover the W4 nickel deposit in 2007
and has identified a number of other targets for drilling that have yet to be
drill tested.
"Previous success at Langmuir including the discovery of the Company's
W4 deposit has been through the application of the above exploration
strategy. We are encouraged by recent drilling as ultramafics
have been identified in proximity to a geophysical anomaly, our W3 target,
suggesting we are in the right host environment," comments Company
President, Steve de Jong. "Further exploration
is now underway in order to vector in on the VTEM anomaly and possible nickel
mineralization. The W3 target is located approximately 300 meters west of the
W4 deposit. Company geologists are reviewing the possibility that this zone
is the same volcanic flow which hosts the W4 deposit."
The Langmuir W4 deposit hosts a NI 43-101 resource estimate of 677,000 tonnes of 1.0% Nickel, Measured & Indicated, and
171,000 tonnes of 0.89% Nickel, inferred. The
highest grade portion of the deposit comes to surface and appears to be
amenable to an open-pit production scenario. The Company has commenced a
number of scoping level studies on the deposit including environmental,
geotechnical and metallurgical. As there is a fully operational nickel mill
within 8km of the deposit it is the Company will continue to advance the W4
deposit towards production while as well as execute its aggressive
exploration program in the immediate vicinity with the intention of
identifying other high grade, Kambalda-type nickel
deposits.
Corporate Update:
In June of 2010 the Company underwent a management transition and put a team
in place focused primarily on the advancement and development of its two key
assets: the Langmuir Nickel Project and the Radio Hill Iron Ore Project. Both
are 100% owned by the Company and contain either historical or NI 43-101
compliant resources. Since this change the Company has replaced its Board of
Directors, consolidated its stock, renamed itself to Rogue Resources Inc.
(formerly known as Golden Chalice Resources Inc.) and significantly reduced
overhead spending. It also purchased exploration facilities in Timmins,
Ontario which were originally built to facilitate Falconbridge Inc.'s
exploration programs in the area.
"The Rogue story is unique in that the Company completed two 43-101
technical reports, one of which includes a resource estimate, immediately
prior to a consolidation. Over $14 million has been spent on the Company's
projects as well as an additional, estimated $10 million spent historically
on its Radio Hill Iron Ore project. We are now seeking joint venture partners
on a number of projects which have seen a combined $6.5 million in recent
exploration expenditures," states Company President, Steve de Jong. "New management's primary objectives have been
and continue to be to curb excess spending on administration costs, joint
venture advanced-stage exploration projects and focus on the advancement and
development of both its iron and nickel assets. Significant steps have been
taken over the previous six months to make these objectives a reality. The
Company is now well positioned to take advantage of the current commodity
market by focusing resources on its two key projects with aggressive
exploration programs in combination with assertive marketing campaigns. We
encourage investors to visit our website and review our most recent corporate
presentation to keep updated with our projects and future exploration and
development plans."
To view the Company's recently updated Corporate Presentation click on the
following link:
http://www.roguemining.com/i/pdf/CorporatePresentation.pdf
Adams Option
The Company is pleased to announce, subject to regulatory approval, the
option to acquire a 100% interest in the Adams, Cercio,
Onyx and Revelstoke properties. These properties
consist of 12 claims (5,880 hectares) in the Kamloops and Revelstoke
Mining Division of southern British Columbia. All properties are accessible
by road; the Adams, Cercio and Onyx properties
being located 23 km southeast of the town of Barriere
and west of Adams Lake. The Revelstoke claims are
located 19 km southeast of the town of Revelstoke,
British Columbia.
Consideration for the Adams property consists of 700,000 shares, payable over
three years. Consideration for the Cercio, Onyx and
Revelstoke properties is 325,000 shares each,
payable over three years. No NSR or cash payments are included in the option
agreement.
About the Langmuir Nickel Project:
The Langmuir project consists of a massive land package of favourable geology for hosting Kambalda-type
nickel deposits, the majority of which was staked following the Company's W4
nickel discovery in 2007. The Kambalda Nickel Camp
in Australia is known for its high grade, moderate sized nickel deposits. At Kambalda multiple nickel deposits occur within a single
flow such that once identified drilling focuses on delineating the flow in an
effort to discover more deposits or pods. The Kambalda
flow field model led to the Company's original W4 discovery in 2007 and is
supported by the location of nearby moderate-sized nickel deposits in the
immediate vicinity of the Langmuir project.
Kevin Montgomery, P.Geo., is the Company's qualified person for the purposes of
National Instrument 43-101 for and has reviewed the technical contents of the
press release.
About Rogue Resources:
Rogue Resources is an advanced stage exploration company, with offices in
Vancouver, British Columbia and Timmins, Ontario. The Company has an
extensive property pipeline of projects in Ontario. The most advanced project
includes its 100% owned Langmuir Nickel deposit which has resource estimate
of 677,000 tonnes of 1.0% Nickel and 0.06% copper,
Measured & Indicated, and 171,000 tonnes of
0.89% Nickel (inferred). Also in the Timmins area is the Company's 100% owned
Radio Hill iron ore project which has historical iron ore resources* as high
as 427 million tons at 27.3%. The Company also has several large land
packages within the Abitibi greenstone belt of the Timmins Camp that host
VMS, base metal and lode gold showing. In addition to its larger properties
the Company also has gold properties in the Kirkland Lake area and base metal
properties in Bathurst, New Brunswick.
ON BEHALF OF THE BOARD OF DIRECTORS
Steve de Jong, President
Phone: (604) 629-1808
Email: sdejong@roguemining.com
Website: www.roguemining.com
Neither the TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
This news release does not constitute an offer to sell or solicitation of
an offer to sell any securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the United States or to
U.S. Persons unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is available.
*The historical estimates contained in this document are not in
accordance with the mineral resources or mineral reserves classifications
contained in the CIM Definition Standards on Mineral Resources and Mineral
Reserves, as required by National Instrument 43-101 ("NI 43-101").
Accordingly, the Company is not treating these historical estimates as
current mineral resources or mineral reserves as defined in NI 43-101 and
such historical estimates should not be relied upon. A qualified person has
not done sufficient work to date to classify the historical estimates as
current mineral resources or mineral reserves. The term "ore" in
this document is being used in a descriptive sense for historical accuracy,
and is not to be misconstrued as representing current economic viability.