VANCOUVER, British Columbia, Sept. 07, 2016 (GLOBE NEWSWIRE) -- Rugby Mining Limited (“Rugby” or the “Company”) (TSX-V:RUG) is pleased to announce that it has commenced field work designed to set exploration priorities over its recently acquired Colombian gold projects. To the end of August, preliminary visits were completed on 12 of 61 areas considered the most worthy for early assessment.

The work is being performed by a team of experienced professionals, including individuals previously employed by the major international gold mining company which owned the projects. Early site visits were considered imperative as the very substantial (+70 gigabyte) geological database acquired is simply too large to fully evaluate in the timeline envisioned by Rugby. 

Rugby’s CEO, Paul Joyce stated, “Over the coming months our task will be to rate the gold projects as quickly as possible. Priority is being given to high grade gold-silver systems in these very prospective areas.

“Separately, we welcome after so many years of negotiations, the recent signing of a peace accord between the Colombian government and the FARC movement. We believe this agreement will facilitate renewed foreign investment, particularly in the mining sector.”

Granted Concessions versus Applications

The projects comprise both granted concessions and applications, covering approximately 845 square kilometres. Nearly 10% of the new gold projects are granted concessions whilst the others remain as applications. Encouragingly, Rugby has now been notified that the final review is in process for several of the concession applications (the penultimate step before grant).

Rugby’s existing Cobrasco and Comita copper projects are situated in “community lands” requiring lengthy and somewhat arduous activities including community consultations, community agreements and various environmental permit applications prior to exploration and drilling. Unlike Cobrasco and Comita, the recently acquired gold projects are on private lands where access can be granted directly by the owners of the surface rights. In this way the detailed work, including drilling, was completed on one of the projects, the El Poma gold project.

Field Work in Progress

Most field examinations involve an appraisal of the style of mineralization, rather than sampling. However for one prospect, which we have named “Tantalus”, high level epithermal silver gold mineralization was evident and 85 channel and rock samples were collected and submitted for assay. The concession application covering the Tantalus prospect is pending approval.      

The highest priority projects are now being sampled by an experienced prospecting team.

Rugby has yet to fully assess the El Poma project (the only project previously drilled), a large low grade porphyry gold system with some high grade gold intercepts. The initial field examination confirmed the exploration potential to extend the porphyry-style mineralization, however a more appropriate geophysical survey is required to better delineate the structural controls of the higher grade gold mineralization and define potential drill targets.

Colombian Personnel

Following Rugby’s acquisition of the projects in June 2016, the Company has grown its local staff base by successfully securing additional experienced Colombian geologists, a community relations manager and a legal advisor with extensive knowledge of the projects. These key personnel engagements are significant for maintaining continuity, community relationships and access over the newly acquired gold projects.

Francisco Montes, Rugby’s Chief Geologist and a “qualified person” (“QP”) within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has verified the technical information that forms the basis for this news release.

About Rugby
Rugby is an emerging mineral resource company focused on a portfolio of projects having considerable potential for significant mineral discoveries. Rugby benefits from the experience of its directors and management, a team that has either been directly responsible for world-class mineral discoveries or have been part of the management teams responsible for such discoveries.

For additional information you are invited to visit the Rugby Mining Limited website at www.rugbymining.com

CAUTIONARY STATEMENT
Certain of the statements made and information contained herein is “forward-looking information” within the meaning of the British Columbia, Alberta and Ontario Securities Acts. This includes statements concerning the Company’s plans at its projects including the expected approval of permits required for exploration, timing of drilling programs, prospectivity, high grade potential and potential for mineral discoveries and drilling costs which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the effect on prices of major mineral commodities such as copper and gold by factors beyond the control of the Company; events which cannot be accurately predicted such as political and economic instability, terrorism, environmental factors and changes in government regulations and taxes; the shortage of personnel with the requisite knowledge and skills to design and execute exploration programs; difficulties in arranging contracts for drilling and other exploration services; the Company’s dependency on equity market financings to fund its exploration programs and maintain its mineral exploration properties in good standing; political risk that a government will change, interpret or enforce mineral tenure, environmental regulations, taxes or mineral royalties in a manner that could have an adverse effect on the Company’s assets or financial condition and impair its ability to advance its mineral exploration projects or raise further funds for exploration; risks associated with title to resource properties due to the difficulties of determining the validity of certain claims as well as the potential for problems arising from the interpretation of laws regarding ownership or exploration of mineral properties in the Philippines and Colombia and in the sometimes ambiguous conveyancing characteristic of many resource properties, currency risks associated with foreign operations, the timing of obtaining permits to conduct exploration activities, the ability to conclude agreements with local communities and other risks and uncertainties, including those described in each of the Company’s management discussion and analysis and those contained in its financial statements for the year ended February 29, 2016 filed with the Canadian Securities Administrators and available at www.sedar.com. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

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