Rogue Resources intersects 1.2% nickel over 29 meters at Langmuir
– OTHER HIGHLIGHTS FROM METALLURGICAL DRILLING (HQ) INCLUDE 1.68% NICKEL OVER 17.3 METERS
– HIGHLIGHTS FROM EXPLORATION DRILLING (NQ) INCLUDE 1.54% NICKEL OVER 9.4 METERS
– LATEST DRILLING TO BE INCORPERATED INTO RESOURCE MODEL USED FOR SCOPING STUDY
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 21, 2011) – Rogue Resources Inc. (TSX VENTURE:RRS) (the "Company") is pleased to announce assay results from diamond drilling conducted on its W4 Langmuir Nickel Deposit earlier this year. The Langmuir property is located 35 km south of the city of Timmins, Ontario. The company drilled 13 diamond drill holes totaling 2,282 meters. Six HQ sized holes were drilled for the purposes of metallurgical testing on the A zone and seven NQ sized holes were drilled to test for extensions on the east side of the W4 deposit. Drilling intersected significant mineralization in both the metallurgical and exploration drill holes (see complete results tabulated below).
The seven exploration holes tested the eastern portion of the W4 Deposit, the eastern strike extension of the W4 deposit and the western portion of the W3 area. Four of the seven exploration holes intersected the eastern margin of the W4 nickel deposit with hole RL11-09 returning 1.54% Ni over 9.4 m near surface. Hole RL11-11 was drilled 50 m east of the W4 deposit and encountered anomalous nickel mineralization in the host ultramafic flow within the A Zone; Hole RL11-12 150 m east of the W4 deposit encountered a diabase dyke and only minor ultramafics; and Hole RL11-13 intersected the target ultramafic volcanic flows, however, no significant nickel sulphides were observed.
|Drill Hole||From (m||)||To (m||)||Avg Ni%||Length (m||)||Hole Type||Area|
|RL11-01||124||127||0.96||3||HQ MET||W4 Deposit|
|RL11-02||135||167.5||0.87||20.5||HQ MET||W4 Deposit|
|Including||135||144.5||0.68||9.5||HQ MET||W4 Deposit|
|Including||162||167.5||1.84||5.5||HQ MET||W4 Deposit|
|RL11-03||24.5||37||0.88||12.5||HQ MET||W4 Deposit|
|RL11-06||18||25.5||1.35||7.5||HQ MET||W4 Deposit|
|RL11-07||106||123.3||1.68||17.3||HQ MET||W4 Deposit|
|Including||114.5||122.5||2.03||8||HQ MET||W4 Deposit|
|RL11-10||36.5||65.5||1.21||29||HQ MET||W4 Deposit|
|Including||36.5||43.5||0.85||7||HQ MET||W4 Deposit|
|Including||50||65.5||1.73||15.5||HQ MET||W4 Deposit|
For the resource statement reported on April 2010, a total of sixty-nine core drillholes for 22,152 meters were used. Seven (NQ) of the holes reported today were drilled to test mineralization extensions to the east, and the remaining six (HQ) drilled to primarily provide material for metallurgical testing in support of a scoping level study. The additional drilling is being used to update the resource model, which is currently being applied in scoping level studies by SRK Consulting (Canada) Inc. The new drilling has allowed a more confident definition of nickel mineralization for the mining studies and has provided material for low, medium and high grade composite metallurgical samples which have allowed a better understanding of the metallurgical properties of the nickel mineralization.
"The discovery of additional near-surface mineralization has the potential to enhance the overall viability of mining at Langmuir," stated Company CEO, Steve de Jong. "Langmuir will continue to play an important role in the Company's strategy and as we work towards a scoping study we will continue to assess various options to help realize the full value of the project. We are also pleased to announce drilling is progressing well on our Radio Hill Iron Ore Project and expect to see results through the fall and into 2012."
The Company also announces that the Board of Directors of the Company has elected to adopt a shareholder rights plan that will be presented for ratification by the shareholders of the Company at the Company's annual general meeting to be held on October 17, 2011. The Rights Plan is subject to the approval of the TSX Venture Exchange.
The shareholder rights plan has been adopted to ensure the fair treatment of all shareholders with respect to any takeover bid for the common shares of the Company. It is designed to provide shareholders with an opportunity to properly consider a takeover bid without undue time constraints. In addition, it will provide the board with additional time for review and consideration of an unsolicited takeover bid and, if necessary, for the consideration of alternatives. Additional details regarding the shareholder rights plan will be provided in the Information Circular that will be available for viewing on SEDAR and mailed to the shareholders of the Company prior to the annual general meeting.
The Company has no knowledge of any pending or threatened takeover bids for the Company, and has no reason to believe that any takeover offer for the Company's shares is imminent. This rights plan is not being adopted in response to any proposal to acquire control of the Company.
Kevin Montgomery, P.Geo., is the qualified person for the purposes of National Instrument 43-101 and has reviewed the technical contents of this press release.
ABOUT ROGUE RESOURCES
In addition to the Langmuir Nickel Project, the Company has an advanced stage Radio Hill Iron Ore project 80km southwest of Timmins. In June of 2011 the Company completed a financing for $4,600,000 and in July signed a 10,000 meter drill contract with Forage Orbit Drilling Inc. Drilling commenced in August 2011 and the Company expects to see results from this project throughout Q4, 2011. Because of the advanced stage of this asset the Company's next milestone will be the completion of a NI 43-101 compliant resource estimate.
ON BEHALF OF THE BOARD OF DIRECTORS
Steve de Jong, President & CEO
Follow Rogue Resources On:
The term "iron ore" in this document is being used in a descriptive sense for historical accuracy, and is not to be misconstrued as representing current economic viability.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, any person in the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the use of the proceeds from the private placement, constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company's planned exploration activities, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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.