|May 19, 2020|
Roughrider Acquires Claims in Golden Triangle between the Past-Producing Scottie Gold and Granduc Mines
|Vancouver, BC -- Roughrider Exploration Limited ("Roughrider" - TSX-V: REL) is pleased to announce it has staked the 6,358.8 hectare Scottie West Property located in the "Golden Triangle", approximately 30 kilometres (km) northwest of Stewart, B.C. and immediately west of the Scottie Gold Mine Property¹. These newly staked claims cover favourable geology, as mapped by the British Columbia Geological Survey, including Jurassic Hazelton volcanic rocks, Jurassic Texas Creek Intrusions and Eocene aged intrusions that are also host to numerous mineral occurrences and past producing mines throughout the Stewart Camp, including Ascot Resources Premier Mine¹ and Scottie Resources Scottie Gold Mine¹ (see Figure 1).|
Historical work in the immediate area focused principally on the past producing Scottie Gold gold-silver mine¹ to the east and on the Granduc base metals mine¹ to the west of Roughrider's new Scottie West Property. Very little historical work appears to have been undertaken on Roughrider's property primarily as a result of extensive glacial cover which has been rapidly retreating since the majority of the historical work was completed in the region during the late 1980's.
An assessment report (#33511) filed by Eilat Resources documents a 2012 helicopter-borne magnetic geophysical survey totaling 332.5 line km at a 150 metre line spacing of which approximately the western 15% of the survey is now located within the current Scottie West Property. A smaller subsequent airborne magnetic and spectral survey was flown in 2016 on behalf of Eilat within the current Scottie Gold Mine Property (Assessment Report #36318). These airborne surveys highlighted several prominent north-northwesterly and southwesterly trending features which appear to have a spatial association with mineral occurrences (see Figure 2).
Roughrider's CEO, Adam Travis, comments: "The 2019 discovery of the Domino Gold Zone along a mineralized east-west structure roughly halfway between the Scottie West Property and the historical Scottie Gold mine, as announced by Scottie Resources Corp. on November 14, 2019 verifies the importance of the magnetic features identified by the previous airborne surveys. Equally important, it highlights that new discoveries can be made in areas of previous snow and ice cover. A number of these magnetic features appear to trend onto Roughrider's Scottie West Property based on the partial historical survey coverage. I fully expect to visit the area this summer, Covid-19 permitting, to begin reconnaissance exploration and get a better sense of the extent of glacial retreat and the property's overall prospectivity. In the meantime, we will continue to aggressively explore for advanced gold opportunities."
Roughrider plans to continue compilation of the historical airborne magnetic survey data that was flown over its current property and proposes to complete airborne geophysical coverage across its property and to conduct initial prospecting and geological work this summer.
The scientific and technical information contained in this news release has been prepared, reviewed and approved by David Tupper, P.Geo. (British Columbia), Roughrider Exploration's VP Exploration and a Qualified Person within the context of Canadian Securities Administrators' National Instrument 43-101; Standards of Disclosure for Mineral Projects.
About Roughrider Exploration Limited
Roughrider's current focus is the exploration of its 100% owned Eldorado, Gin and Bonanza Properties located in the Golden Triangle area of northern British Columbia, adjacent to the Red Chris Mine (owned and operated by Newcrest Mining Limited and Imperial Metals Corporation). Additionally, Roughrider will continue to review strategic precious metal acquisition opportunities in western North America. Roughrider also holds a 100% ownership in the Sterling Property located in central BC.
On Behalf of the Board of Directors:
Adam Travis, Chief Executive Officer and Director
For further information, please contact:
Roughrider Exploration Limited
Adam Travis, CEO
625 Howe Street, Suite 420
Vancouver, B.C. V6C 2T6, Canada
1 This news release and maps contain information about adjacent properties on which Roughrider has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on Roughrider's properties.
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 regarding the proposed Transaction, private placement, board and management changes, 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 Roughrider, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although Roughrider 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.
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