Mr. John de Jong reports
ROGUE RESOURCES ANNOUNCES HIGH GRADE SILICA STRIKE LENGTH EXTENDED OVER 100 METERS TO 1.5 KM, ADDS SECOND DRILL TO CURRENT PROGRAM AND ARRANGES $2.5 M PRIVATE PLACEMENT
Rogue Resources Inc. has received assay results from an additional seven of 14 channel sample units comprising 256 samples on the Lac de la Grosse Femelle silica project located approximately 42 kilometres north of Baie-Saint Paul, Que., and four km northeast of Sitec's operating silica mine.
The company is also pleased to announce that 12 of the 25 phase one drill holes, comprising 2,261 metres, have been completed. An additional drill will be on-site shortly and upon arrival will begin drilling the expanded phase two drill program. All drilling is expected to be completed prior to the end of November, 2015. Drilling is designed to test the extent of quartzite unit G and the newly discovered H quartzite unit, including their purity, depth, width and the length of extension below surface. Upon receiving all of the assays and compiling the results, an independent firm will be tasked with preparing a National Instrument 43-101-compliant resource report and a corresponding preliminary economic assessment.
Channel R11 assays recording up to 99.8 per cent SiO2 extend the quartzite unit another 100 m east-northeast to a total of 1.5 kilometres east of channels R6 and R7 located in the same G quartzite unit (please see news releases dated Aug. 20, 2015, and Sept. 2, 2015). Newly reported are channels R4 and R5 located 920 m east-northeast of R7 on the same unit and 540 m west-southwest of channel R11. The replication of assays averages on the three smaller channel areas located approximately in the middle of the over 1.5 km strike length of the quartzite unit is considered indicative of the continuity of the high-purity silica trend that is contained within the G quartzite unit.
The newly discovered H quartzite unit is pure white, coarse-grained, crystalline and massive, with no apparent discoloration. Therefore, in response to the high-purity SiO2 assays reported on R13, three additional channels, R13B, R13C and R13D, consisting of 39 samples located 31 m west-southwest of channel R13, were delivered to SGS Labs in Quebec City.
Assays from channels R1, R2, R3 and R14 indicate that these samples were taken on the southern edge of the contact with the H quartzite and were located just outside of the quartzite unit.
"It is highly encouraging to have high-purity silica assays reported on the east, middle and west ends of the G quartzite unit, open on both ends, supporting the continuity of the high-purity silica for a strike length of not less than 1.5 km. Additional channel sampling was recently completed on the newly discovered unit H as a direct response of the unit being very white in colour with no apparent discoloration, and the high silica value assays of R13," commented company president and chief executive officer John de Jong. "Adding an additional drill will allow us to complete all of our phase one and two drill programs prior to the end of November. We remain on budget and on target with our drilling, and planning for a resource calculation in the new year."
Channel sample results
Channel samples, R1 to R14, consisting of 256 samples totalling 446.7 metres of channelling, were delivered to SGS Laboratories in Quebec City. Assay results for 55 samples over 93.9 m from channels R4, R5 and R11, on the G quartzite unit, and R1, R2, R3 and R14 on the newly discovered quartzite unit H have been received.
Channels R4 and R5 details:
- Located in the central portion of G quartzite unit at 900 m east-northeast of R7 and 435 m west-southwest of R9;
- Seven samples submitted;
-
Total channel sampling length 11.5 m;
- 3.1 m comprising two of seven samples in two sequences returned assays
of SiO2 (99.0 per cent to 99.2 per cent SiO2).
Sequences of assayed silica oxide contents (over 99.0 per cent SiO2):
- Sequence 1 for channel R4: 1.5 m;
- 1.5 m interval assayed 99.0 per cent SiO2;
- Sequence 2 for channel R5: 1.6 m;
- 1.6 m interval assayed 99.2 per cent SiO2.
The higher silica content and purity were in quartzites that were white, coarse-grained, crystalline, and massive with minor pink staining (oxidation). Drilling designed to identify the width and depth of the G quartzite unit in this area and silica purity will begin within the next several days.
CHANNEL R4 AND R5
Hole Sample From To Width Al2O3 Cr2O3 Fe2O3 K2O
ID No. (m) (m) (m) (%) (%) (%) (%)
R4 649322 0.00 2.00 2.00 1.38 0.02 0.58 0.05
R4 649324 2.00 3.50 1.50 0.75 0.01 0.42 0.04
R4 649326 3.50 5.00 1.50 0.78 0.02 0.38 0.03
R4 649327 5.00 6.40 1.40 1.85 0.03 0.60 0.06
R5 649328 0.00 2.00 2.00 1.24 0.04 0.58 0.04
R5 649329 2.00 3.50 1.50 1.15 0.03 0.44 0.07
R5 649330 3.50 5.10 1.60 0.49 0.04 0.41 0.04
Hole Sample MgO Na2O SiO2 TiO2 LOI Sum
ID No. (%) (%) (%) (%) (%) (%)
R4 649322 0.08 0.04 98.3 0.09 0.67 101.2
R4 649324 0.07 0.01 99.0 0.07 0.72 101.3
R4 649326 0.08 0.02 98.2 0.05 0.41 100.0
R4 649327 0.14 0.05 96.8 0.14 0.62 100.4
R5 649328 0.03 0.02 97.2 0.08 0.58 99.8
R5 649329 0.06 0.02 98.1 0.10 0.67 100.6
R5 649330 0.03 0.03 99.2 0.08 0.27 100.7
Channel 11 details:
- Located 1.5 kilometres east-northeast of channel R6 on the main quartzite zone
G;
- Total channel sample length 55.6 m;
- 14 of 32 samples returned assays ranging from 99.0 per cent to 99.8 per cent SiO2 over
combined width of 23.5 m.
Sequence of assayed silica oxide contents (over 99.0 per cent SiO2):
-
Sequence 1: 36 m;
- Two m interval assayed 99.3 per cent SiO2;
- 20 m interval assayed between 99.0 per cent to 99.8 per cent SiO2;
- Two m interval assayed 99.3 per cent SiO2;
-
Sequence 2: 4.6 m;
-
Two m interval assayed 99.3 per cent SiO2;
- 0.6 m interval assayed 99.1 per cent SiO2.
The high-purity quartzites are white, coarse, crystalline, massive and occasionally light pink. The last sample assaying 99.1 per cent SiO2 is in the upper part of the quartzite and near the contact with the adjacent overlying para gneisses.
CHANNEL R11
Hole Sample From To Width Al2O3 Cr2O3 Fe2O3 K2O
ID No. (m) (m) (m) (%) (%) (%) (%)
R11 649288 0.00 2.00 2.00 0.30 0.05 0.37 0.01
R11 649289 2.00 4.00 2.00 0.88 0.03 0.38 0.01
R11 649291 4.00 6.00 2.00 0.59 0.03 0.46 0.02
R11 649292 6.00 8.00 2.00 0.75 0.04 0.53 0.02
R11 649293 8.00 10.00 2.00 0.85 0.03 0.42 0.02
R11 649294 10.00 12.00 2.00 0.75 0.02 0.36 0.02
R11 649296 12.00 12.80 0.80 0.56 0.04 0.45 0.03
R11 649297 12.80 14.00 1.20 0.63 0.03 0.34 0.02
R11 649298 14.00 16.00 2.00 1.11 0.03 0.41 0.01
R11 649299 16.00 18.00 2.00 0.38 0.03 0.29 0.02
R11 649300 18.00 20.00 2.00 0.23 0.03 0.34 0.03
R11 649301 20.00 22.00 2.00 0.34 0.04 0.39 0.02
R11 649302 22.00 24.00 2.00 0.32 0.02 0.35 0.02
R11 649303 24.00 26.00 2.00 0.41 0.05 0.61 0.02
R11 649304 26.00 28.00 2.00 0.40 0.03 0.34 0.01
R11 649305 28.00 30.00 2.00 0.46 0.03 0.37 0.01
R11 649306 30.00 32.00 2.00 0.54 0.02 0.32 0.02
R11 649307 32.00 34.00 2.00 0.66 0.03 0.31 0.02
R11 649308 34.00 36.00 2.00 0.58 0.04 0.42 0.02
R11 649309 36.00 37.00 1.00 0.89 0.01 0.43 0.02
R11 649310 37.00 38.00 1.00 0.74 0.03 0.40 0.04
R11 649311 38.00 40.00 2.00 1.00 0.02 0.40 0.06
R11 649312 40.00 42.00 2.00 0.69 0.05 0.49 0.02
R11 649313 42.00 43.50 1.50 0.62 0.02 0.41 0.05
R11 649314 43.50 45.50 2.00 0.48 0.04 0.37 0.03
R11 649315 45.50 47.50 2.00 0.43 0.02 0.33 0.03
R11 649316 47.50 49.50 2.00 0.68 0.03 0.43 0.05
R11 649317 49.50 51.00 1.50 0.88 0.03 0.56 0.09
R11 649318 51.00 52.50 1.50 0.85 0.02 0.60 0.06
R11 649319 52.50 53.80 1.30 1.00 0.04 0.67 0.17
R11 649320 53.80 55.00 1.20 10.2 0.03 5.44 2.07
R11 649321 55.00 55.60 0.60 0.50 0.03 0.78 0.07
Hole Sample MgO Na2O SiO2 TiO2 LOI Sum
ID No. (%) (%) (%) (%) (%) (%)
R11 649288 0.02 0.02 99.3 0.05 0.33 100.4
R11 649289 0.05 0.03 98.0 0.11 0.46 100.0
R11 649291 0.05 0.02 98.9 0.08 0.33 100.5
R11 649292 0.06 0.04 98.2 0.08 0.36 100.1
R11 649293 0.06 0.03 98.2 0.10 0.34 100.1
less
than
R11 649294 0.01 0.01 99.6 0.10 0.37 101.3
R11 649296 0.04 0.03 99.4 0.08 0.30 100.9
R11 649297 0.02 0.02 99.1 0.09 0.39 100.6
R11 649298 0.02 0.02 99.0 0.13 0.29 101.0
R11 649299 0.04 0.03 99.2 0.04 0.19 100.2
R11 649300 0.02 0.03 99.4 0.04 0.21 100.3
R11 649301 0.05 0.03 98.8 0.06 0.24 100.0
R11 649302 0.02 0.02 99.4 0.07 0.29 100.5
R11 649303 0.02 0.01 100.0 0.04 0.14 101.3
less
than
R11 649304 0.03 0.01 99.8 0.05 0.20 100.9
R11 649305 0.04 0.02 99.5 0.05 0.27 100.7
R11 649306 0.04 0.03 97.9 0.05 0.44 99.3
R11 649307 0.03 0.02 98.8 0.06 0.37 100.3
R11 649308 0.04 0.03 99.3 0.05 0.36 100.9
R11 649309 0.02 0.02 98.8 0.06 0.36 100.6
R11 649310 0.05 0.02 98.6 0.05 0.24 100.2
R11 649311 0.05 0.03 98.7 0.07 0.34 100.7
R11 649312 0.06 0.03 98.4 0.10 0.30 100.2
R11 649313 0.04 0.02 98.9 0.06 0.37 100.5
R11 649314 0.04 0.02 98.7 0.07 0.23 100.1
R11 649315 0.04 0.02 98.6 0.05 0.23 99.8
R11 649316 0.06 0.02 98.8 0.07 0.37 100.6
R11 649317 0.07 0.03 98.4 0.11 0.26 100.5
R11 649318 0.06 0.05 99.3 0.07 0.41 101.5
R11 649319 0.12 0.04 98.0 0.11 0.37 100.5
R11 649320 0.30 0.16 82.0 0.59 0.26 101.1
R11 649321 0.07 0.04 99.1 0.08 0.32 101.0
Channel R1, R2 and R3 details:
- Located on the southern edge of the newly discovered quartzite H;
- The assays indicate that the samples collected in these channels were
located in the para gneisses on the southern edge of the quartzite zone
H, therefore are considered to be outside the quartzite unit;
- Channel sample lengths were 4.2 m, 8.7 m and four m in length, respectively.
Channel R14 details:
- Located on the southern edge of the newly discovered quartzite H;
- Samples collected are in the para gneisses at the southern edge of the
contact and are therefore considered to be outside the quartzite unit.
Drilling update
All 23 drill pads have been prepared to date. Drilling takes place 24 hours per day, and both phase one and phase two programs are scheduled to be completed by mid- to late November. As part of the company's commitment to preserve the local fauna and forest, remediation of each drill site and access point takes place immediately upon leaving the location and as the project progresses.
Private placement
The company is also pleased to announce it has arranged a non-brokered private placement of non-flow-through units at a price of 10 cents, and Quebec or national flow-through shares at a price of 15 cents, for aggregate gross proceeds of up to $2.5-million.
Each unit will consist of one common share and one non-transferable common share purchase warrant. Each warrant forming part of the unit will entitle the holder to purchase one common share at an exercise price of 12 cents for 24 months. Each FT share will consist of one common share and no warrant.
The private placement and any modification to it are subject to compliance with applicable securities laws and approval of the TSX Venture Exchange. The company may pay finders' fees in accordance with the policies of the TSX Venture Exchange.
The shares will be subject to a statutory four-month hold period. Final closing date for the offering is anticipated to be on or about Oct. 15, 2015. The company reserves the right to increase the size of the private placement, or to modify the type, nature and/or price of the units for any reason.
The proceeds from the issuance of the FT shares will qualify as Canadian and/or Quebec exploration expenses. Flow-through funds received in 2015 will be renounced to investors no later than Dec. 31, 2015. The company intends to use the net proceeds of the offering primarily for expenditures on the company's Lac la de Grosse Femelle silica project as well as for general working capital.
Closing of first tranche
The company is pleased to announce that, subject to regulatory approval, it has completed the first tranche of its private placement by raising $625,000 through the issuance of 6.25 million units. Finders' fees in the amount of $43,750 and 437,500 compensation warrants are payable on this tranche. The shares forming part of the units are subject to a four-month hold period expiring Jan. 8, 2016.
Use of proceeds for the offering include advancing the Lac de la Grosse Femelle silica property by completing the 2015 exploration program as outlined in the company presentation that can be found on its website and initiating the 2016 exploration program, including metallurgical testing, further drilling, bulk sampling, resource calculation and PEA.
Qualified person
The Lac de la Grosse Femelle exploration project is under the direct supervision of Eddy Canova, PGeo, senior vice-president of the company, a qualified person as defined by National Instrument 43-101, assisted by Alain-Jean Beauregard, PGeo, and Daniel Gaudreault, Eng, Geo, of Geologica Inc., and Dr. Trygve Hoy, PEng, PhD, all independent QPs as defined by National Instrument 43-101. The company's QP has approved the scientific and technical content of this release.
We seek Safe Harbor.
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