|October 21, 2014|
Roughrider Receives Biogeochemical Results, Genesis Property
|Roughrider Exploration Limited ("Roughrider") is pleased to present the first set of results from the 2014 Phase 1 field exploration work completed in September on its Genesis Uranium Property in northeast Saskatchewan. Pursuant to an option agreement between Roughrider and Kivalliq Energy Corporation ("Kivalliq"), Roughrider may acquire up to an 85% interest in the Genesis Project (see Roughrider news release dated July 16, 2014). Roughrider is currently funding exploration of the 198,763 hectare Genesis Property located along the Wollaston-Mudjatik trend extending northeast from Saskatchewan's Athabasca Basin.|
"We are encouraged by the preliminary results from the summer exploration program," stated Scott Gibson, CEO of Roughrider. "Our goal is to define and refine drill targets. Athabasca basement rocks have historically provided exceptional targets in other areas surrounding the basin. Roughrider and Kivalliq anticipate providing a compilation of results across several target areas in the coming weeks."
Roughrider and Kivalliq are currently analyzing the large amount of data being received (5,984 line km airborne geophysics, 291 lake sediment samples, 1,351 soil samples and 161 biogeochemical samples) with the goal of advancing a number of uranium targets for drill testing.
Roughrider has received results from the preliminary biogeochemical sampling (spruce boughs) at the Sava Lake priority area combined with the airborne electromagnetic (EM) survey data. At Sava Lake, up to 1.4 kilometres of a newly mapped EM conductor has been highlighted by coincident biogeochemical anomalies in uranium, molybdenum, lead, antimony and rare earth elements (REE's). The Sava Lake area is also highlighted by anomalous regional lake sediment samples (up to 91.6 ppm U; GSC 064L77-1906).
Biogeochemical sampling was attempted in the Sava Lake area as an alternative to conventional soil sampling due to the area being largely overlain by boulder-filled swampy muskeg. The results are considered typical for biogeochemical sampling, with results ranging between: <1 to 8 ppb U, (background of 2 ppb U), 8 and 948 ppb Mo, 5 and 450 ppb Pb, and 1 and 66 ppb Sb. Expansion of the biogeochemical sampling grid is being investigated (currently a total of 68 samples and 3 duplicates collected on four, 300m to 600m spaced lines;).
David 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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