Rockridge Capital Corp.
TSX VENTURE : RRC

Rockridge Capital Corp.

October 04, 2010 08:45 ET

Rockridge Confirms Gold Discovery at Fatou Gold Project, Mali; Drilling Returns Up To 27m Grading 3.1g/tonne Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2010) - Rockridge Capital Corp. (TSX VENTURE:RRC) (the "Company") is pleased to announce assay results from 38 reverse circulation drill holes (3,789 metres) completed on the North Artisanal Area of the Fatou Gold Project, Mali, West Africa.

  • The first phase of drilling (38 reverse circulation holes drilled to a maximum depth of 100 metres from surface) tested 300 metres of strike of the main Fatou gold in soil geochemical anomaly.
  • Five different gold zones have been identified, all 5 zones are open along strike and to depth, four of which appear to be increasing in width and grade to the north-west.
  • 15 of 21 drill holes in the core of the anomaly intersected widths of 2 to 55 metres, greater than 0.75 grams Au/tonne.
  • There are three additional gold in soil anomalies with a total strike length of over 10 kilometres within the 250 square kilometre land package that remain to be explored.

As a result of the positive Phase 1 RC drill results, a 10,000 metre Phase 2 diamond drilling programme is planned to commence in November. Core drilling is anticipated to provide higher recoveries and better technical information regarding the nature and orientation of the mineralized zones. An additional 5,000 metres of drilling will be allocated to an initial drill test of the other 4 regional soil anomalies. Highlights of the drill results from this programme are presented in the following table:

Hole Name   From   To   Width   Grade
    (metres)   (metres)   (metres)   (g/tonne Au)
RCF-014   66.0   72.0   6.0   1.2
And   94.0   100.0   6.0   1.6
RCF-015   50.0   55.0   5.0   1.8
And   79.0   86.0   7.0   0.7
RCF-017   62.0   67.0   5.0   2.0
RCF-021   18.0   45.0   27.0   3.1
Including   30.0   45.0   15.0   5.2
Including   37.0   39.0   2.0   27.7
RCF-023   66.0   77.0   10.0   1.2
RCF-025   11.0   14.0   3.0   2.8
RCF-032   45.0   100.0   55.0   0.8
Including   45.0   75.0   30.0   1.2
RCF-033   46.0   59.0   13.0   0.7
RCF-035   67.0   72.0   5.0   4.7
RCF-036   19.0   66.0   47.0   0.8
Including   52.0   66.0   14.0   1.6
RCF-037   51.0   58.0   7.0   1.0

Estimated true width of drill holes is between 75-95 percent of reported width. Drill holes RCF 001, 002, 006, 009-011, 013, 016, 020, 024 and 030 returned no significant values. Please see the full table of drill results posted on the Company's website.

About The Fatou Gold Project

The Fatou exploration permit, covering 250 square kilometres, is located in southern Mali, about 250 kilometres south-east of the capital city of Bamako and approximately 100 kilometres south of Anglogold-Ashanti/Randgold's Morila gold mine. Access is excellent via a paved highway from Bamako to Zantiébougou and then by laterite road to the permit area.

Under the terms of the Option Agreement, Rockridge can acquire a 100% interest in the Fatou Project exploration license by making payments totaling US$800,000 over two years of which an initial payment of US$100,000 has been made. To maintain its option, Rockridge is required to make further payments of US$300,000 on or before December 22, 2010 and US$400,000 on or before December 22, 2011. Rockridge is also required to complete a minimum of 5,000 metres of exploration drilling during the first year of the term of the Agreement. Rockridge is the Operator of the project. At such time as Rockridge elects to move from an exploration license to an exploitation permit and upon issuance of an exploitation permit by the Malian government, a new company will be formed and the owners of that company will be Rockridge 85%, the Mali Government 10%, and the Optionor, Bagoe, 5%. The interests of the Mali Government and Bagoe in the new company will be carried interests. Bagoe will also retain a 2% NSR in the Fatou project. Rockridge will have a right of first refusal to purchase Bagoe's 5% carried interest in the new company and its 2% NSR.

Mr. Lorne Warner, P. Geo, Director and VP Exploration, is the Qualified Person for the Company under NI 43-101. All samples were collected on site and sent to ALS-Chemex in Bamako for 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 ROCKRIDGE CAPITAL CORP.

Karl Kottmeier, President

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this press release.

Contact Information

  • Rockridge Capital Corp.
    Karl Kottmeier
    President
    (604) 678 8941
    or
    Rockridge Capital Corp.
    Kirk Gamley
    VP Corporate Development
    (604) 678 8941
    (604) 689 7442 (FAX)
    www.rockridgecapital.com