16:54:37 EDT Sun 13 Oct 2024
Enter Symbol
or Name
USA
CA



Rockland Resources Ltd
Symbol RKL
Shares Issued 73,897,787
Close 2024-03-26 C$ 0.035
Market Cap C$ 2,586,423
Recent Sedar Documents

Rockland identifies historical drill hole data for Cole

2024-03-27 12:22 ET - News Release

Mr. Mike England reports

ROCKLAND RESOURCES FINDS IMPORTANT HISTORICAL DATA FOR ITS 100% OWNED COLE GOLD MINES PROJECT, RED LAKE, ONTARIO

Rockland Resources Ltd. has uncovered drill hole data dating back to the 1930s from its 100-per-cent-owned Cole gold mines property. The Cole gold mines project is located in the western portion of the prolific Red Lake gold district of Northwestern Ontario.

A deep dive into public historical records for the project has found data from a drill hole completed in the 1930s, among other occurrences still being processed, from a separate area than where past underground exploration had occurred at the Cole gold mines property. Hole DDH-12, drilled by Cole Gold Mines and located approximately 450 metres southwest from the historical underground workings, intersected over 3.5 metres of vein quartz in schist with gold values in quartz and visible gold in the fractures. This surface hole was drilled to the southeast at a minus 60 dip, and is very shallow, at only 39 metres in depth, with the intercept approximately halfway down the hole.

Copies of these historic reports and maps can be seen on the Rockland Resources website.

The importance of this drill hole was noted in a 1953 report by Wilfred P. Mackle, mining engineer, when describing an interpreted fold located southwest of the mine shaft area, with an axis striking northeast: "It is along the axis of this fold that the orebodies located occur and a further significant feature is provided by DDH-12 from surface which indicated the possibility of a major ore occurrence striking parallel to the fold axis as opposed to the orebodies in the shaft area which strike roughly east-west. I rather emphasize the importance of this fold pattern because it is a very important feature of the Cochenour-Campbell-Dickenson ore deposits, and probably also with the Madsen area, and the conclusive evidence of a major fold occurring in the proximity of the presently known orebodies is, in my opinion, of major significance."

Limited drilling by Rockland in 2021, cut short by forest fires in the region, did not test this intercept or the vicinity at all, as it was not known due to government restrictions of in-person access to the local Red Lake-Ontario Geological Survey archives during COVID.

In addition to this new area of exploration potential, the 1953 Mackle report was also very positive when describing the Cole gold mine underground exploration: "The above underground development was productive in opening up a total length of 2030 lineal feet of ore with a possible grade of 0.452 oz across a width of 45 inches. From observations of the surface ore exposures and a study of the underground assay plans, I am of the opinion that systematic test holing and subsequent slashing of the drift walls would increase the widths considerably and with little or no drop in the grade averages. The values are not confined to a ribbon like vein structure but in zones of silicification and narrow lenticular quartz veins, more or less en echelon, and with the exception of a few crosscuts and some widespread slashing of the drift walls, I do not feel that all the width possibilities have been determined." In the conclusion of the report, when describing this underground development, the author states: "The many parallel gold-bearing zones is, in the opinion of the writer, a most important feature. As shown on the cross-section there are nine gold-bearing zones indicated across a horizontal width of 750 feet. On surface there are as many more and all warrant attention."

Mike England, chief executive officer of Rockland Resources, states: "Discovering this drill hole from the 1930s can be a game changer for our Cole gold mines project. Even with the limited mapping and assay methods of that day, historic indications of significant gold runs are highly positive for the project. We continue to delve into the historical reports and look forward to updating the database, as well as shareholders, as we head into the 2024 field season."

The historical estimates do not meet current standards as defined by National Instrument 43-101 and therefore should not be relied upon.

The company also continues to compile historical geophysical and geological data over the Pipestone North property in preparation of a summer field program, in conjunction with the Cole gold mines property.

Matthew Long, PGeo, 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.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.