|August 23, 2016|
FALCON Airborne Gravity Gradiometer Survey Targets Outlined, Genesis Property, Saskatchewan
Vancouver, BC, August 23, 2016 -- Roughrider Exploration Limited (TSX-V: REL) ("Roughrider") and Kivalliq Energy Corporation (TSX-V: KIV) ("Kivalliq") -- today announced results of an integrated analysis of fixed-wing Falcon Airborne Gravity Gradiometer (AGG) and total field magnetic surveys undertaken over select areas of interest at the Genesis Property uranium project in northeast Saskatchewan. The analysis work was undertaken by Condor Consulting Inc. ("Condor"), recognized experts in the field of integrated exploration.|
A total of twenty gravity targets were identified and prioritized based on the integration of the 2016 AGG data with results from a 2015 compilation by Condor (reported in a news release on February 16, 2016) of electromagnetic, magnetic, radiometric, geochemical, biogeochemical and geological data sets. The majority of the gravity targets were identified in the Jurgen and Johnston areas, with nine and seven targets respectively.
"We are very pleased with the progress that has been made on the Genesis Property since Roughrider and Kivalliq began exploring there outside the Athabasca Basin in 2014," commented Roughrider's VP Exploration, David Tupper. "Together we have identified numerous priority targets for basement-hosted uranium along the previously underexplored extension of the very prospective Mudjatik-Wollaston Transition Zone."
Gravity targets, including the two highest priority targets, are spatially associated with the Jurgen 1 and Jurgen 2 target zone corridor where previous work has identified anomalous uranium soil geochemistry, biogeochemistry, boulder samples and radiometrics coincident with multiple electromagnetic conductor trends.
For maps showing Condor's compilation, target zones, and the location of FALCON airborne gravity grids please visit http://www.roughriderexploration.com/s/genesis.asp
The 2016 AGG and magnetics survey, performed by CGG Canada Services Ltd., was divided into five separate grids providing coverage over the Jurgen, Johnston/GAP, Daniel's Bay, Melnick and Kingston priority target areas. Flight lines were flown at 200 metre spacing for a total of 1,677 line-kilometres. The gravity target zones identified based on the 2016 AGG data have low to moderate amplitudes (-0.1 to -0.3 mGal) relative to the model adopted for the analysis. Gravity target zone selection was determined by Condor using a target model based on known uranium deposits in the Athabasca Basin. Target zones are characterized by gravity low responses associated with coincident steep magnetic gradients and breaks in electromagnetic conductor trends, which can represent alteration associated with uranium mineralization.
As previously reported by Roughrider May 27, 2016, Saskatchewan Mineral Dispositions MC2080, MC2081 and MC2082 were acquired by purchase from an arm's length party. With acquisition now complete, the new claims add 232 hectares within the boundary of the Genesis project, filling key holes in the Johnson-GAP area.
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.
About Roughrider Exploration Limited
Roughrider's focus is exploring the 200,909 hectare (495,883 acre) Genesis uranium project located in the Wollaston-Mudjatik geological trend extending northeast from Saskatchewan's Athabasca Basin. Roughrider has the option to earn an 85% interest in Genesis from Kivalliq Energy Corporation.
For further information, please contact:
Chief Executive Officer
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by the company, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. 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. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.
You can return to the main News Releases page, or press the Back button on your browser.