Rogue Announces Final High Purity Analytical Results from 2018 Diamond Drill Program on the Snow White Project's Main Zone
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES
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- 29 additional drill hole analyses reported, to complete 36 hole drill program focussed on the Main Zone
- Hole 18-36 intersects 56.15 metres of 98.58% SiO2 including 34.50 metres of 99.24% SiO2
- All analytical results have been provided to M.Plan to complete Resource Estimate
- Metallurgical analysis completed with ANZAPLAN (Germany) demonstrating a reasonable mass recovery
- Snow White Quartz Project Resource Estimate on the Main Zone nearing completion
- Extending the closing of the private placement offerings into early August
TORONTO, July 25, 2018 (GLOBE NEWSWIRE) -- Rogue Resources Inc. (TSX-V:RRS) (“Rogue” or the “Company”) is pleased to announce the final analytical results have been received from ALS Global for the 2018 drilling campaign at the Snow White quartz project, located near Massey, Ontario, Canada (“Snow White” or the “Project”). Analytical results from 29 diamond drill holes are reported and continue to define the high purity silica mineralization for the Main Zone.
Significant widths of high purity quartz were encountered during the drill program that meet or exceed the minimum required silica grade specifications for the production of metallurgical grade silicon (“MG-Si”). Test work completed by ANZAPLAN with TOMRA Sorting GmbH has confirmed that reasonable mass recovery was generated through optical sorting of the main quartz zone.
The drill results reported in this release are from the Snow White Main Zone and tested the continuity of the silica grade, the distribution of impurities within the quartz vein and the overall dimensions of the silica mineralization. The drill hole locations for the reported analytical results are summarized in Table 1 and the analytical results have been summarized in Table 2 appended to the bottom of this release.
“I am excited about the continued strong analytical results from Snow White, confirming our original assessment of the Main Zone,” states Paul Davis, Vice President Technical. “The analytical results when combined with the results of the ANZAPLAN test work, demonstrate that the Snow White Main Zone is amenable to beneficiation to produce the desired product ranges. In addition, a number of the drill intercepts already meet the required specifications for metallurgical grade silicon related to the impurity levels for aluminum, iron, phosphorous and titanium and we have seen promising initial observations from a continuance of the quartzite in zones to the south of the Main Zone.”
M.Plan is nearing completion of an initial mineral resource estimate for the Main Zone at the Snow White Silica Project and a technical report (the “Resource Report”) that complies with the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) will be filed by Rogue in compliance with NI 43-101. M.Plan is a joint venture between Dorfner ANZAPLAN GmbH (“ANZAPLAN”) and Micon International Limited formed specifically to provide consulting services in the specialty minerals sector. The Company expects the Resource Report to be completed and announced in the coming weeks (see press releases dated June 18, 2018 and July 5, 2018).
The Company announces that it has extended the closing of its non-brokered private placement offerings announced on June 25, 2018 into early August. The Offering consists of NFT Units at a price of $0.22 and FT Units at a price of $0.30, for aggregate gross proceeds of up to $500,000. Each NFT Unit consists 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 $0.25 for 24 months. Each FT Unit consists 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 $0.35 for 24 months. Further details of the Offering can be found in the Company’s June 25, 2018 news release.
About Rogue Resources Inc.
Rogue is a mining company focused on generating positive cash flow. Not tied to any commodity, it looks at rock value and good grade deposits that can withstand all stages of the commodity price cycle. The Company remains focused on advancing its silica/quartz business with the Snow White Project in Ontario and the Silicon Ridge Project in Quebec, exploring its other assets, including the gold potential at Radio Hill and nickel potential at Langmuir, and identifying additional projects or mines that meet its criteria.
For more information visit www.rogueresources.ca.
Qualified Person
The Company’s Projects are under the direct technical supervision of Paul Davis, P.Geo., and Vice-President of the Company. Mr. Davis is a Qualified Person (“QP”) as defined by NI 43-101. He has reviewed and approved the technical information contained in this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements:
This news release contains certain statements or disclosures relating to the Company that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information (“forward-looking statements”) under applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “continue”, “potential” and similar expressions, or are events or conditions that “will”, “would”, “may”, “could” or “should” occur or be achieved. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: the Private Placement; the Units, FT Units, Warrants and FT Warrants; the expected date of closing of the Private Placement; the expected use of proceeds from each of the Unit Offering and the FT Unit Offering; jurisdictions where the Unit Offering and FT Unit Offering will be made; Finder’s Fees and Finder’s Warrants; the statutory hold periods applicable to the securities underlying the Units and FT Units; and the applicability of exemptions from prospectus and registration requirements of applicable securities laws. The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of the Company including, without limitation: business strategies and the environment in which the Company will operate in the future; commodity prices; exploration and development costs; mining operations, drilling plans and access to available goods and services and development parameters; regulatory restrictions; the ability of the Company to obtain applicable permits and regulatory approvals; activities of governmental authorities (including changes in taxation); currency fluctuations; the global economic climate; and competition.
The Company believes that the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: general economic, market and business conditions; the Private Placement may not be completed in the timelines anticipated, in the manner anticipated or at all; the required regulatory approval for the Private Placement, including the approval of the TSXV, may not be obtained; the Company’s properties may not have the results currently anticipated by the Company; the Company may be unable to resolve geological, mechanical, regulatory or operational issues in the timelines anticipated, in the manner anticipated or at all; increased costs and expenses; reliance on industry partners; risks related to operations, government and environmental regulation, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; risks in the marketability of minerals; fluctuations in the commodity prices; fluctuation in foreign exchange rates and interest rates; stock market volatility; and certain other risks detailed from time to time in the Company’s public disclosure documents including, without limitation, those risks identified in this news release, and in the Company’s most recent annual and interim management’s discussion and analysis, copies of which are available on the Company’s SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.
The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.
Table 1 - Snow White Diamond Drill Hole Locations and Summary Information: http://www.globenewswire.com/NewsRoom/AttachmentNg/13aa4753-227b-40e4-8cd5-ad6fff08d7ae
Table 2 - Summary of Snow White Drill Hole Intercepts - High Purity Silica Analytical Results: http://www.globenewswire.com/NewsRoom/AttachmentNg/223f91b4-3257-49d6-a298-6f7bf82bd88c
For additional information regarding this news release please contact: Sean Samson info@rogueresources.ca