|September 18, 2014|
New 100% Roughrider Claims Acquired In The Athabasca Basin Region
|Roughrider Exploration Limited ("Roughrider") is pleased to announce it has acquired through staking a total of 17 new claims comprising seven properties in the highly prolific uranium producing northern Saskatchewan Athabasca Basin region.|
Highlights of the staking include:
Wollaston-Mudjadik Structural Corridor
Four of the properties fit Roughrider's existing exploration criteria, being located along sections of favorable sub-Athabasca Basin basement rocks within the Wollaston-Mudjadik structural corridor. The Wollaston-Mudjadik trend hosts the majority of the historic and producing high-grade uranium mines of the eastern Athabasca Basin.
The Knoke Lake claims total 1,239 hectares (2 claims) located roughly 3 kilometres west of the Genesis Property and the Burrill Bay target area. Strong north-northwest faults cross cut the property.
The Walker Creek (2,298 ha; currently applications), Lasky Lake (262 ha) and Laverdiere Creek (376 ha) properties are spread along roughly 70 kilometres of the Wollaston-Mudjadik structural corridor to the southwest of the Athabasca Basin and the Key Lake uranium mine. The properties are located within 3 to 10 km of Highway 914. At the Walker Creek property, Getty Minerals Co. reported two uranium occurrences in 1975 with results of up to 4.60% U3O8 across 0.15 metres and 0.138 U3O8 in a grab sample (Saskatchewan Ministry of Economy assessment file 74B09-0006).
Black Bay Fault Trend/Beaverlodge-Zelmak Contact
The Neely-Elke property is comprised of a single 316 ha claim located less than 16 km northeast of the Cinch Lake, Leonard and Cayzor uranium mines. The claim includes two uranium occurrences identified by work conducted in the 1960's and 70's. At Elke Lake, a northeast striking area 500 metres by 100 metres hosts numerous occurrences of radioactivity and minor pitchblende in narrow fractures. In the Neely Lake showing area pitchblende and yellow stain are reported associated with narrow calcite veins identified during follow-up of a scintillometer survey that identified 79 radioactive locations.
Black Lake-Charlebois Lake Area
The Mozzie Lake property is comprised of two claims totalling 4,098 ha roughly 25 km north of the Athabasca Basin contact in the Black Lake area. The Mozzie Lake uranium prospect is a pegmatite and calc-silicate associated occurrence within the Mudjatik Domain that underwent a focused 19 hole drill campaign in 1967-68.
Cluff Lake-Douglas River Area
The Douglas River property consists of seven claims totalling 4,865 ha located 14 km west of the Cluff Lake uranium mine area along the western perimeter of the Carswell Structure within the Athabasca Basin. Numerous northwest striking airborne electromagnetic conductors extend across the property. The UEX/Areva Shea Creek uranium deposits are located 20 km to the southeast.
Roughrider's CEO Scott Gibson commented: "Saskatchewan has a highly efficient staking process that allows Roughrider to start building a 100% owned land position to complement our marquee Genesis JV with Kivalliq. We continue to rigorously monitor the Athabasca Basin area in search of new opportunities to apply our basement hosted uranium model or projects with historic results that make them accretive acquisitions. We are still collecting data for most of these new areas and will update the projects with more specific information once it has been reviewed and integrated."
Roughrider is also currently funding work on the 198,763 hectare (489,154 acre) Genesis uranium project located in the Wollaston-Mudjatik trend extending northeast from Saskatchewan's Athabasca Basin. The first phase of work has just completed (see News Release dated September 8, 2014).
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.
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
For Further Information, please contact:
Scott Gibson Chief Executive Officer 604 697-0028
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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