VANCOUVER, BC--(Marketwired - November 18, 2016) -
- Completion of Ground Penetrating Radar survey on Silicon Ridge Property
- GPR survey is a step towards an optimized mine plan with more accurate waste definition
- Changes to Corporate Secretary and IR support
Rogue Resources Inc. (TSX VENTURE: RRS) ("Rogue" or the "Company") is pleased to report the completion of a Ground Penetrating Radar survey ("GPR") on its 100% owned Silicon Ridge Project ("Project"), located approximately 42 kilometres ("km") north of Baie-Saint Paul, Québec. The survey was designed to test the thickness of the overburden cover over the proposed surface expression of the quarry. Results of the survey will be used to quantify the volume of overburden that will be removed and stockpiled and will form a portion of the project optimization process, currently underway.
"We are excited to see these GPR results as it launches us into optimizing the Silicon Ridge Project," said Sean Samson, President and CEO of Rogue. "Based on Rogue's understanding of the property, we expect there will be less waste to remove, potentially adding to the near surface quartzite and reducing our overall footprint. We were quite pleased with the results of the previously released PEA, but this should begin leading us to even better project economics. In parallel, we continue conversations with potential customers for our silica and continue to be well-received through that process."
The Company also announces the appointment of Mr. Paul Davis as Corporate Secretary following the resignation of Ms. Diana Mark from the position. The Company's board of directors and management wish to thank Ms. Mark for her years of dedication and service for the Company. In addition, Rogue has retained DSA Corporate Services Inc. to provide administrative, corporate and regulatory affairs services to the Company effective November 1, 2016.
The Company also reports that the Investor Relations Agreement with Allyson Taylor Partners Inc. has been terminated.
About Rogue Resources Inc.
Rogue is a mining company focused on generating positive cash flow. Not tied to any metal, it looks at rock value and good grade deposits that can withstand all stages of the metal price cycle. The current focus is Quebec's Silicon Ridge Project. For more information visit www.rogueresources.ca.
The Silicon Ridge exploration project is under the direct supervision of Paul Davis, P Geo., Vice-President of the Company and a Qualified Persons ("QP") as defined by National Instrument 43-101. Paul Davis has approved the scientific and technical content of this release.
On Behalf of Rogue Resources Inc.
President & CEO, Director
Neither the 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 news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release may constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, and that actual results are consistent with management's expectations. These statements include, among others, statements with respect to development activities and their timing, resource estimates and potential mineralization, the PEA, the GPR survey results, the Company's ability to obtain efficiencies by optimizing the project, the quantity of overburden on the project, including estimates of capital costs, anticipated internal rates of return, mine production, processing recoveries, mine life, estimated payback periods and net present values, plans to decide if the project and resources to be quarried. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, those matters identified in its continuous disclosure filings, including its most recently filed MD&A, changes in regulatory environments, environmental compliance, operating and capital cost escalation, ability to raise project financing and silica pricing. Additional factors include delays in obtaining or inability to obtain required regulatory approvals, permits or financing, risk of unexpected variation in mineral resources, grade or recovery rates, processing plant failure, equipment or processes to operate as anticipated, of accidents, labour disputes, the risk that estimated costs will be higher than anticipated, the risk that the proposed mine plan and recoveries will not be achieved, equipment breakdowns, bad weather timing and success of development activities, mineral resources are not as estimated, title matters, third party consents, operating hazards, product prices, political and economic factors, competitive factors and general economic conditions. Should any of such assumptions prove to be incorrect or such risks become actual events, than the value of the Company's securities may decline. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.