Rockgate Capital Corp.
TSX VENTURE : RGT

Rockgate Capital Corp.

May 14, 2009 10:58 ET

Rockgate Announces Global Resource Estimate on Falea Uranium-Silver Project, Mali

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 14, 2009) - Rockgate Capital Corp. (TSX VENTURE:RGT) (the "Company") is pleased to report the results of the Company's first NI 43-101 compliant resource estimate from the 100% owned Falea Uranium/Silver project located in Mali, West Africa, as provided by a letter report dated May 08, 2009 from independent consultant Golder Associates.



Uranium (U3O8 in lbs) Silver (oz)

(Capped) (Uncapped) (Capped) (Uncapped)

Indicated Resource 1,022,000 1,027,000 723,000 1,116,000
Inferred Resource 21,116,000 22,381,000 21,373,000 30,484,000


Tables #1 and 2 below contain the total mineral resource at Falea, tonnes and grade at 0.03% U3O8 cut-offs based on ordinary Kriging and uncapped and capped values respectively. The total resource at Falea entails the Central, North and Bodi Zones combined. U3O8 and Silver values are rounded to nearest 1000. The complete Golder Associates report will be available on SEDAR within 45 days.



Table #1 - Uncapped Total Resource
Resource Cut-off U3O8 Ag U3O8 Ag
Category U3O8(%) Tonnes (%) (g/t) (lbs) (oz)
Indicated 0.03 572,000 0.069 61 1,027,000 1,116,000
Inferred 0.03 10,270,000 0.086 92 22,381,000 30,484,000

Table #2 - Capped Total Resource
Resource Cut-off U3O8 Ag U3O8 Ag
Category U3O8(%) Tonnes (%) (g/t) (lbs) (oz)
Indicated 0.03 469,000 0.076 48 1,022,000 723,000
Inferred 0.03 8,502,000 0.094 78 21,116,000 21,373,000


Key points regarding the Falea deposit:

- Less than 5% of the Falea property has been evaluated. Numerous down-hole radiometric anomalies from work completed by Cogema (Areva) in the 1970's have yet to be drill tested. All zones remain open in at least two directions. The North Zone is open in all directions.

- The majority of the uranium and almost all of the silver mineralization is concentrated in the North Zone, discovered by Rockgate in November 2007. The North Zone has received the majority of the drilling completed to date and remains open in all directions and thus has the potential to substantially expand the current resource. The average depth from surface to the deposit is approximately 220 metres.

- Using the 0.03% U3O8 cut-off and capped values the North Zone contains a total resource of 16,493,000 pounds U3O8 and 21,676,000 ounces of silver representing 75% and 98% respectively of the total resources at Falea. Refer to Table #3 for the North Zone resource.



Table #3 - Capped North Zone Resources only
Resource Cut-off U3O8 Ag U3O8 Ag
Category U3O8(%) Tonnes (%) (g/t) (lbs) (oz)
Indicated 0.03 76,000 0.132 246 262,000 601,000
Inferred
(West side) 0.03 2,453,000 0.124 110 7,926,000 8,708,000
Inferred
(East side) 0.03 3,882,000 0.082 99 8,305,000 12,367,000


- Within the North Zone, the average width and grade of U3O8 mineralization from 36 drill hole composites is 2.93 m and 0.174% The average width and grade of the higher grade silver mineralization contained within the zone from 22 diamond drill hole composites is 4.86 m and 224.57 g/tonne.

- The flat-lying Falea deposit is located on a plateau and the favorable stratigraphy, which is host to all mineralization, outcrops near the base. The North Zone is located in close proximity to the edge of the plateau.

- Native silver occurs within the North Zone in hematite altered sandstones, in association with the uranium. Copper mineralization is always present, in concentrations typically between 0.1-0.2% Cu. Copper was not calculated in this resource calculation.

- All mineralization on the property is located within the Kania sandstones, which occur within a sedimentary basin similar in age to Canada's Athabasca Basin. These sandstones are located within 5 to 20 metres of the sedimentary basins unconformity, with the lower Birimian metavolcanics and sediments. The basin covers over ninety percent of the 225 sq. km. project area.

- The East Zone was not included in the current resource estimate due to limited drilling. Scintillometer readings taken from core recovered in ongoing diamond drilling confirms the zone continues to expand to the north. Assays are pending.

- A second drill is currently being mobilized to Falea to begin North Zone infill and step out drilling, to the south towards the Central Zone. The Central Zone is located approximately 1500 metres south of the North Zone. The Central Zone remains open to the north west and east.

- The resource study is based on 149 diamond drill holes completed by Rockgate with a combined length of approximately 40,900 metres. A total of 245 specific gravity measurements were used to get an average density of 2.66g/cm3. Log histogram and log probability plots were created for the uranium and silver data contained within the Vulcan 3D model.

- The Vulcan model which defined the area of the resource estimate is not just assay based but was created on anomalous scintillometer readings. Anomalous scintillometer readings do provide a good approximation of the location of uranium mineralization but do not directly correlate with grade. Consequently, a larger volume of the mineralized sandstone unit is incorporated into the Vulcan model; however this generally lowers the average grade. Future resource studies will better define the higher grade uranium mineralization.

- The block model was generated using Datamine Studio 3 software. A total of seven uranium and twenty-one silver values were capped from a total of 1618 samples. Different capping values were used for each deposit. Capping lowers the total U3O8 pounds and ounces of silver by 5% and 27% respectively.

Rockgate president Karl Kottmeier commented, "We are very pleased with the results of our first resource calculation. The Golder Associates report provides a strong base for the Company and confirms our belief that Falea has the potential to be a world class uranium/silver deposit. Thus far, Rockgate has only explored 5-10% of the Falea property and as such we believe that the deposit can be substantially increased in size and scale. Our drilling has intersected uranium mineralization in approximately 85% of our holes and we are looking forward to receiving assay results from our first drill program of 2009. The second phase of our 2009 drilling program is starting shortly and a reverse circulation drill rig is being added to speed up our drilling and reduce costs. Rockgate is planning to initiate environmental and scoping studies by the end of 2009."

The Falea exploration permit covers 150 square kilometres of the Falea-North Guinea-Senegal basin, a Neoproterozoic sedimentary basin marked by significant radiometric anomalies. Mr. Lorne Warner, P. Geo, Director and VP Exploration, is the Qualified Person for the Company under NI 43-101. All core samples a sawed in half and sent to Bamako where ALS prepares the samples with pulps then shipped to EcoTech Laboratories in Kamloops, B.C. for ICP-MS analysis and ALS in Vancouver for XRF analysis for uranium. The company inserts a standard, blank and requests a duplicate sample in every batch of 20 samples.

ON BEHALF OF THE BOARD OF DIRECTORS OF ROCKGATE CAPITAL CORP.

Karl Kottmeier, President

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of 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.

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.

Contact Information

  • Rockgate Capital Corp.
    Karl Kottmeier
    President
    (604) 678 8941
    or
    Rockgate Capital Corp.
    Kirk Gamley
    Vice President, Corporate Development
    (604) 678 8941
    (604) 689 7442 (FAX)
    www.rockgatecapital.com