|September 08, 2014|
Roughrider Exploration Program Update: Genesis Property
|Roughrider Exploration Limited ("Roughrider", TSX-V: REL) is pleased to announce that the Phase 1 2014 exploration program on the Genesis uranium project located in the Wollaston-Mudjatik trend adjacent to Saskatchewan's Athabasca Basin is now complete. The 198,763 hectare (489,154 acre) Genesis property covers large sections of favorable sub-Athabasca Basin basement rocks within a structural corridor that is related to the majority of the historic and producing high-grade uranium mines of the eastern Athabasca Basin.|
Key Point Summary of Phase 1 Exploration Program
Eight priority target areas explored
6006 line km airborne geophysical surveying (electromagnetics,
magnetics and radiometrics)
291 lake sediment samples
1,300 soil and biogeochemical samples
"Interpretation of the final airborne geophysical and geochemical data will begin shortly as we aim to generate and refine compelling targets for drill testing," commented Roughrider's CEO Scott Gibson. "We are pleased with the rapid deployment and efficient progress of Kivalliq's crews. They hit the ground running and covered a lot of territory in a short time."
Genesis Project field work began July 23, 2014 with the commencement of airborne geophysical surveys and a lake sediment sampling program. The program was directed by Kivalliq Energy Corporation ("Kivalliq"), owner and the operator of the Genesis property. The Phase I program, budgeted at $1 million is designed with a goal of advancing a number of uranium targets for drill testing. Kivalliq granted Roughrider an option to acquire up to an 85% interest in the Genesis Property (see Roughrider News Release dated July 16, 2014).
The full program of 6,006 line-kilometres of helicopter-borne geophysical survey work (DIGHEM electromagnetics ("EM") plus magnetics and radiometrics) was completed on eight grids by CGG Canada Service Ltd.. Final data has been received and interpretation will be undertaken in the coming weeks. Based on preliminary interpretations, a number of new or expanded EM conductors have now been investigated by field crews with focused grid-controlled soil sampling (over 1300 samples total) and prospecting. Soil samples are undergoing enzyme leach analysis at Activation Laboratories Ltd. in Ontario. Limited orientation biogeochemical sampling has also been carried out in areas where conventional soil sampling was not possible.
Kivalliq field crews completed the collection and shipment of 291 lake sediment samples to SRC Geoanalytical Labs in Saskatoon for analysis. Sampling focused on areas of historic anomalies, new or existing EM conductors and areas of known broad lake sediment anomalies that required closer spaced sampling.
David W. Tupper, P.Geo, V.P. of Exploration and a Qualified Person under National Instrument 43‐101 has reviewed and approved the technical information contained in this release.
For Further Information, please contact:
Scott Gibson, Chief Executive Officer, 604 697‐0028
Neither 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 release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (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 unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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