Rockgate Capital Corp.
TSX : RGT

Rockgate Capital Corp.

May 11, 2011 07:00 ET

Rockgate Intersects 1.24% U3O8 over 4 metres at Falea Uranium-Silver-Copper Project, Mali

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 11, 2011) - Rockgate Capital Corp. (TSX:RGT) (the "Company") is pleased to announce assay results from 8 infill diamond drill holes completed along three sections across the northern portion of the northwest-trending Plateau Edge Structure (PES). The PES is a major mineralized structural zone within the North Zone Area at Rockgate's 100% owned Falea Project. Drill holes and sections are spaced every 25 metres, targeting an area where limited earlier drilling had turned up high-grades associated with the PES. All 8 drill holes intersected high-grade uranium-silver over widths ranging up to 4 metres. Highlights of these results are presented in Table 1.

Table 1 Drill Highlights
Hole NameFrom (m)To (m)Length (m)U3O8% XRFAg (g/tonne)Cu %
DF-297195.0199.04.00.2423.40.33
DF-298201.7205.74.00.1219.10.14
DF-299197.2201.24.00.66163.00.42
DF-300217.3219.32.00.1260.50.29
DF-301202.0206.04.01.24174.50.53

Section 1 360 675 N

Three diamond drill holes tested a 50-metre width across section 1 360 675 N (Table 2) of the northern extension of the PES structure. All 3 intersected 4 metres of strong uranium-silver-copper mineralization, and one hole, DF-301, returned a composite U3O8 grade of 1.24%. DF-299 and DF-297 continue to expand the limit of PES to the west; therefore more drill holes are planned to continue to identify relatively thick, high-grade mineralization associated with the northwest-trending structure. Drill holes are listed from east to west in Table 2.

Table 2 Section 1 360 675 N
Hole NameFrom (m)To (m)Length (m)U3O8% ICPAg (g/tonne)Cu %
DF-297195.0199.04.00.2423.40.33
incl197.0198.01.00.4441.00.43
DF-299197.2201.24.00.66163.00.42
incl199.2201.22.01.263010.63
DF-301202.0206.04.01.24174.50.53
incl202.0205.03.01.35210.00.57

Section 1 360 700 N

Section 1 360 700 N steps 25 metres north of the previous section, targeting 2 holes into the east side of the PES. Two holes on this section, DF-263 and DF-264, were released October 14, 2010. Both encountered relatively high grades usually associated with the PES toward the centre and east of the trend (Table 3). A new hole, DF-298, intersected 4 metres of good mineralization including 2 metres assaying 0.26% U3O8 and 50.5 g/t Ag. Only 20 metres east, DF-296 returned 1 metre of good mineralization. Drill holes are listed from east to west in Table 3. As is the case on section 1 360 675, drilling continues to push the eastern limit of the PES to the east. Additional drill holes are planned stepping out to the east and west along section 1 360 700 N.

Table 3 Section 1 360 700 N
Hole NameFrom (m)To (m)Length (m)U3O8% XRFAg (g/tonne)Cu %
DF-296201.0202.01.00.0911.40.41
DF-298201.7205.74.00.1219.10.14
including2.00.2650.50.31
*DF-263196.0199.03.00.63245.10.22
including197.0198.01.01.2776.00.2
*DF-264192.3193.31.00.74168.00.86
* Note that DF-263 and DF-264 were previously released October 14, 2010

Section 1 360 725 N

Section 1 360 725 N steps another 25 metres to the north and consists of 3 more drill holes across the PES. Grades remain good in all 3 holes but thicknesses are less than in the two previous sections. A few earlier drill holes along the interpreted PES also returned relatively high uranium and Ag grades over narrower widths; however, more drilling is required to better define the trend. Results also suggest that silver grades are strongest in the drill holes in the centre of the interpreted PES. On section 1 360 725 N high silver grades are located in the two eastern holes. Drill holes are again listed from east to west in Table 4.

Table 4 Section 1 360 725 N
Hole NameFrom (m)To (m)Length (m)U3O8% XRFAg (g/tonne)Cu %
DF-300217.3219.32.00.1260.50.29
including1.00.1595.00.23
DF-302202.0203.01.00.3560.00.24
DF-303199.8200.81.00.2025.60.21

Core lengths range from 90% of true thickness in DF-300 to 92% in DF-303 and 95%-99% in DF-296 to DF-299. Core lengths are approximately 95% and 97% of true thickness in DF-263 and DF-264, respectively.

2011 Drill Program

The Company is currently conducting an extensive program of diamond drilling at Falea with 3 components.

  • Infill drilling is focusing on upgrading the identified resources within the North Zone. Further infill is planned to expand the Plateau Edge Structure.
  • Step-out drilling is extending identified mineralized trends outside the currently defined resource boundaries. At North Zone, northwest and east-northeast mineralized trends continue to be tested. Step-out drilling is also planned for Central Zone and Bodi Zone. The latter represents a significant near-surface, bulk tonnage target.
  • Exploration drilling is currently targeting the Zhang area to the west. Some drilling has been completed at the Kania and East Zones to the east and more is planned. Initial drill campaigns are planned for the Bala area to the south.
  • Two diamond drills are currently drilling at Falea. A third diamond drill is in transit to the site but delays at the port are expected due to the increased shipping activity through Senegal as a result of the uncertain situation in Cote d'Ivoire. A fourth drill is currently being organized to mobilize to site.
  • The Falea Sedimentary Basin appears to be similar in age and geological setting to the Athabasca Basin in Canada.
  • To date, only 5-6 percent of area hosting down-hole radiometric anomalies has been drill tested.

Christopher J. Wild, P.Eng., Project Manager for Falea, is the Qualified Person for the Company under NI 43-101. All core samples are cut in half on site and sent to ALS-Chemex in Bamako for direct shipment to ALS-Chemex in Johannesburg, South Africa, for ICP-MS and XRF analysis. The company inserts a standard, blank and requests a duplicate sample be run in every batch of 20 samples. In addition, the lab inserts in-house blanks, standards, and duplicates with each shipment. Data that falls outside the control limits are checked and repeated as necessary.

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

Karl Kottmeier, President

Neither Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Rockgate Capital Corp.
    Karl Kottmeier
    President
    (604) 678 8941

    Rockgate Capital Corp.
    Kirk Gamley
    VP Corporate Development
    (604) 678 8941
    (604) 689 7442 (FAX)
    www.rockgatecapital.com