Rockridge Resources Ltd. (RRRLF)
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They are drilling but it is just a small program, so they better hit something big on the first few holes. No talk about a prefeasibility study yet on the current deposit either. I have been patience with a large position for two years now, but it is not getting easier.
They have identified a new target zone west of Gilbert Lake at their Knife Lake Project, with continually favourable stratigraphy for approx 10km west of the deposit .
They also included Promising results of copper grab samples of 4.06% and 1.06% at their Knife Lake Project.
https://twitter.com/rockridgerock/status/1483427318248869893
“We are very pleased with these sampling results as we enter 2022 with robust discovery potential around the deposit and at regional targets that we plan to test with an upcoming drill program. The findings from geophysical programs and field work carried out in 2021 have refined existing targets and have identified new ones. We look forward to continuing to advance the Knife Lake Project as we believe there is significant value yet to be unlocked at the property.”
- A helicopter EM and horizontal magnetic gradiometer geophysical survey using Geotech’s VTEM Plus system. (Useful for identifying VMS-style mineralization)
- Expanding on the previous survey, the surveying and geological mapping will be used to generate drill-ready regional targets
- Follow-up drill program later in the year!
Read the full article here: https://ca.finance.yahoo.com/news/rockridge-plans-upcoming-summer-exploration-120000883.html
Rockridge Resources is an exploration company with two main focuses, gold and copper. Both the Raney Gold and Knife Lake projects are high-grade with a lot of promise. They only have a market cap of $8M and are nearing 52-week lows of $0.10. This could be the bottom as new catalysts are bound to come in the future since the drilling/exploration results will be released in a few months. Just look at the last time the stock was this low, will be adding more on this dip!
- ROCK has 200M lbs #Copper resource on Knife Like
- 1yr ago Foran Mining was a 5-10c stock. A Saskatchewan VMS #Copper deposit that has just exploded to over $2.25 in the last 12 months.
- ROCK is trading at just a $13M market cap and shares are trading at ~2cent/lb on Enterprise Value to total copper resource. Foran ($FOM) is trading at 20c (much higher since this interview), with peer average being 11c.
- Assays pending from this year’s drilling which was 5km west of the knife lake deposit. Geophysics provided a potential similar deposit to Knife Lake. If drills hit similar results to Knife Lake, this stock could really fly as it proves the theory from the beginning that this VMS deposit will turn the Knife Lake project into an a potential district scale, economic mine.
https://youtu.be/lOaYENCcy6s
https://ceo.ca/@nasdaq/rockridge-resources-completes-oversubscribed-non-brokered-7fe70
The data will be used to further refine targeting for $ROCK's fully-funded upcoming drill program starting mid-July 2022 at its Knife Lake High-Grade Copper VMS Project.
The VTEM survey data displays up to 15km strike length of highly conductive near-surface anomalies hosted in prospective stratigraphy in regional target areas.
The target areas were previously identified through geological mapping, surface sampling, and geochemical analyses. With a high potential to host valuable copper occurrences and other sulphide mineral occurrences, the target area is interpreted to be the same horizon that hosts the Knife Lake Deposit.
As this project offers exposure to a top mining jurisdiction and to commodities in high demand, $ROCK is definitely one to keep an eye on as the drill program begins IMO
https://www.globenewswire.com/news-release/2022/06/29/2471160/0/en/Rockridge-Completes-3D-Geophysics-Modeling-Which-Identifies-15-km-Strike-Length-of-Electromagnetic-Conductors-Prepares-for-Fully-Funded-Upcoming-Drill-Program-at-Knife-Lake-High-Gr.html
https://www.rockridgeresourcesltd.com/_resources/factsheets/factsheet.pdf?v=0.3
Knife Lake Project
• Advanced-stage copper, silver, zinc and cobalt exploration property
• Strong discovery potential
• Similar geological setting as world-class Flin Flon/Snow Lake metals melt
• Inaugural resource estimate in 2019 showed:
○ Ind. Resources: 3.8MT @ 1.02% Cu Eq
○ Inf. Resources: 7.9MT @ 0.67% Cu Eq
Raney Gold Project
• Similar geological setting that hosts world-class Timmins Gold Camp
• Gold-bearing structures discovered during previous exploration campaigns
• Limited previous geological work
• Historic intercept of 6.5 g/t gold over 8.0m
• 2022 exploration program: 2,070 m in 9 diamond drill holes with intercept of 28g/t gold over 6m
• Broad alteration zone open for expansion, may extend over several hundred meters
• Excellent infrastructure, access, and geological settings
After completing a $2.36M private placement, $ROCK is looking promising IMO - I'm going to keep an eye out for the upcoming Knife Lake drill program