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Rogue Resources Inc (2)
Symbol RRS
Shares Issued 75,826,725
Close 2016-04-01 C$ 0.085
Market Cap C$ 6,445,272
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Rogue drills 218 m of 98.13% SiO2 at Silicon Ridge

2016-04-04 09:50 ET - News Release

Mr. Sean Samson reports

ROGUE ANNOUNCES FINAL ASSAY RESULTS FROM 2015 DIAMOND DRILL PROGRAM, UP TO 99.94% SIO2 HIGH PURITY SILICA

Rogue Resources Inc. has released the final results of the 2015 drilling campaign at the Silicon Ridge project (formerly called 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. Analytical results from 24 diamond drill holes are reported and continue to define the high-purity silica mineralization of up to 99.94 per cent silicon dioxide approaching the highest purity levels recorded by the company since drilling began in August, 2015.

"I am excited by the continued strong results from Silicon Ridge. The 2015 drill program went very well, helping define a significant zone of high-purity quartzite," stated Sean Samson, president and chief executive officer. "We continue to advance Silicon Ridge, derisking the project through ongoing testwork and analysis. Closing our oversubscribed private placement last week showed that there has been strong support from the financing market, with a good mix of existing and new investors, all coming in with hard dollars. Next week the team will be in Europe, for hands-on meetings with our metallurgical and sorting consultants in Germany, combined with investor meetings in Germany and the United Kingdom. We continue to introduce Rogue to investors, preparing them for the metallurgical results in April, resource in June and preliminary economic assessment in September."

Drill program details:

  • The 2015 diamond drill program consisted of 71 drill holes, totalling 11,822 metres.
  • The G quartzite unit was intersected over a strike length of approximately 1,950 m with true widths between 31 m and 115 m.
  • The H quartzite unit was intersected over a strike length of approximately 505 m with true widths between 35 m and 118 m, and located 260 m north-northwest of quartzite G.
  • Six drill holes (PQ and NQ) were drilled for Anzaplan and shipped to Germany for technical evaluation with expected results in April. Holes GF15-53, GF15-60 and GF15-62 are PQ diamond drill holes that were drilled as twin holes and shipped as whole core to Anzaplan as part of the metallurgical test program.

Significant widths of high-purity quartzite were encountered during the drilling program that meet or exceed the minimum required silica-grade specifications to be processed into value-added silicon-based materials. Testwork being completed by Anzaplan, with Tomra Sorting GmbH (formerly operating as CommodasUltrasort GmbH), is identifying the potential processes that could be applied to the material, upgrading the lower-quality quartzite material into higher-value products.

Highlighted intercepts are summarized in the table.

         SILICON RIDGE: HIGHLIGHTS OF SIGNIFICANT DRILL INTERCEPTS          

                                            Weighted     Maximum
Hole ID        From         To      Width  avg. SiO2  value SiO2  True width
                 (m)        (m)        (m)        (%)         (%)         (m)

GF15-36      129.25     156.00      26.75      98.18       99.38       23.21
GF15-39       88.10     152.60      64.50      97.94       99.80       55.97
GF15-42       35.00     140.20     105.20      97.97       99.47       91.29
GF15-43       94.50     141.25      46.75      98.22       99.46       40.57
GF15-45       67.80     163.00      95.20      97.90       99.57       82.61
GF15-46       36.30      95.05      58.75      98.23       99.53       50.98
GF15-47       72.75     173.10     100.35      97.90       99.63       87.08
GF15-48      106.60     168.50      61.90      97.90       99.36       53.72
GF15-54       80.80     139.00      58.20      98.18       99.51       50.50
GF15-58       95.80     132.80      37.00      97.99       99.59       32.11
GF15-59       93.00     133.60      40.60      98.21       99.79       35.23
GF15-61       41.25     125.90      84.65      98.07       99.63       73.46
GF15-63       96.80     204.75     107.95      97.98       99.80       93.68
GF15-64       7.00      189.70     182.70      98.06       99.83      158.54
GF15-65       31.00     118.85      87.85      97.92       99.86       76.23
GF15-66       16.00     234.00     218.00      98.13       99.81      189.18
GF15-67       6.90      114.80     107.90      97.90       99.40       93.63
GF15-69       12.45     134.00     121.55      98.09       99.81      105.48
GF15-70      169.00     230.50      61.50      98.48       99.81       53.37
GF15-71      130.00     139.80       9.80      98.14       98.53        8.50
  

To view a complete table of assays and drill hole locations disclosed today, and to view a drill location map, visit the company's website.

The Rogue technical team has completed the drill hole data validation, assays and interpretations of the geological sections, and transferred these data to Met-Chem Canada to complete the resource estimate.

Silicon Ridge project 2016 timeline:

  • April: metallurgical findings and reports (Anzaplan);
  • From April: develop market partnerships (such as off-take agreements and end-user investment);
  • June: resource report (Met-Chem);
  • September: preliminary economic assessment report (Met-Chem);
  • Fourth quarter: development decisions and preproduction planning.

Private placement

As announced on April 1, 2016, Rogue completed an oversubscribed private placement, raising a total of $1,163,500, all in non-flow-through proceeds, above the planned $1-million combined flow-through and non-flow-through financing originally announced on March 4, 2016.

This private placement was raised with a combination of existing and new investors, and certain directors and/or officers of the company have acquired securities under the private placement, and, upon closing, all officers and management of the company will own common shares of Rogue. Full details of the private placement can be found in Rogue's April 1, 2016, news release.

Management team visit to Europe

As part of the continuing metallurgical work for Silicon Ridge, the Rogue team will be meeting with Anzaplan and Tomra at their main German facilities next week. These visits will be combined with investor marketing schedules in Frankfurt and London, United Kingdom.

Qualified person

The Silicon Ridge 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 Paul Davis, PGeo, technical consultant to the company, a qualified person as defined by National Instrument 43-101. Both QPs have approved the scientific and technical content of this release.

Drill core obtained from the diamond drill program is dominantly NQ-sized core with the remainder being PQ-sized core. Rogue Resources follows a rigorous quality assurance/quality control protocol for the Silicon Ridge project. Drill core of interest is halved, and half is sent to Rogue's analytical laboratory, ALS Minerals, in Val d'Or, Que., with the remaining half retained for future reference. Insertion of standards and blanks is submitted for each batch of samples.

We seek Safe Harbor.

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