Rogue Iron Ore Corp.
TSX VENTURE : RRS

Rogue Iron Ore Corp.

April 03, 2012 07:30 ET

Rogue Iron Ore Intersects 318 Meters of 40% Total Iron and 308 Meters of 40% Total Iron

-- HOLE 22 INCLUDES HIGH GRADE ZONE OF 183 METERS OF 45% TOTAL IRON AND 39% DTWR

-- HOLE 24 SHOWS MINERALIZATION OPEN AT DEPTH - NOT TESTED IN HISTORICAL DRILLING

-- 31 HOLES; 7,828 METERS COMPLETED OF 10,000 METER DRILL PROGRAM - RESULTS PENDING ON 2,859 METERS

-- ON-SITE INFRASTRUCTURE INCLUDES CN RAILWAY MAINLINE, PROVINCIAL HIGHWAY, POWER AND WATER

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 3, 2012) - Rogue Iron Ore Corp. (TSX VENTURE:RRS) (the "Company") is pleased to announce results from drilling at its Radio Hill Iron Ore Project, located 85 km southwest of Timmins, Ontario. RH-11-22 intersected 318 meters of 40% total iron (33% DTWR) and drill hole RH-11-24 intersected 308 meters of 40% total iron (31% DTWR). Both holes were drilled through the northwestern limit of the thickened portion of the iron formation. RH-11-20 and RH-11-23 tested the southern and western extents of mineralization. The Company is awaiting results for a number of holes drilled along strike of holes 22 and 24. The current 10,000 meter drill program began in August 2011 with the objective of outlining a NI 43-101 complaint resource estimate.

"These are exciting results as they give further credibility to our historical model as well as its potential at depth. Our primary focus continues to be to define a resource using historical work to help guide exploration," commented Company President and CEO, Stephen de Jong. "Rogue is unlike any other iron exploration/development company in Canada, in that it is not burdened with infrastructure constraints. Along with power, water, and the advantage of a highly skilled labor force an hour's drive away, Radio Hill has direct rail access to both the North American steel market and a deep sea port."

To view a cross-section and drill plan map showing the latest results please click on the following links:

Drill Plan Map: http://media3.marketwire.com/docs/RH_Plan.pdf

Cross-Section of Hole 24: http://media3.marketwire.com/docs/RH_Cross.pdf

Table 1: Radio Hill Phase One Drilling
Hole # From
(m)
To
(m)
Core interval
(m)
Total
Fe %
DTWR%
RH-11-20 12.0 21.9 9.9 38.7 26.5
RH-11-22 15.6 333.9 318.3 40.2 32.9
including 114.0 297.0 183.0 44.1 39.2
RH-11-23 54.0 73.9 19.9 43.9 22.6
RH-11-24 100.5 408.0 307.5 40.1 31.0
and 446.3 482.0 35.7 33.7 21.7
Calculated: Davis Tube Weight Recovery (DTWR)=1.546(Satmagan) - 0.858. Core intervals lengths are between 60 to 80% true width.
RH-11-21 did not return any significant iron values.

The Company also announces it has updated its corporate presentation to include the latest results. To view the Company's presentation please click on the following link:

http://file.marketwire.com/release/rrs403_NR.pdf

As of April 1, 2012, the Company has completed 31 holes at Radio Hill for a total of 7,828 meters since drilling commenced in the fall of 2011. The Company also assayed and reported on 3 holes drilled prior to the 2011 campaign that were never originally tested for iron (an additional 1,046m). Drill samples have been submitted on a weekly basis beginning in the New Year such that a steady flow of results is expected into the spring.

The outcome of the current drill program will be a NI 43-101 compliant resource estimate. While results to date appear to correlate with historical work, attempts to incorporate the historical assays into the preliminary resource model are no longer being explored as the correlation between acid soluble and modern XRF assaying could not be established to the level of confidence required to meet NI 43-101 reporting.

The Company has also commenced initial exploration work on the 12km strike length of the Nat River iron formation, located 6km to the east. Initial work will consist of ground magnetic surveys for the purposes or targeting and surface sampling.

ABOUT RADIO HILL:

Radio Hill is a taconite (magnetite) iron formation located 85 southwest of Timmins and is accessed by Highway 101. Original exploration work at Radio Hill was conducted in the 1960s, when iron ore prices were less than one fifth of what they are today. Although low prices existed the project still had a feasibility study completed and a market secured. Since that time ownership of the asset has been fragmented and with various landholders owning various parts of the deposit. Over the past 50 years little to no iron exploration work took place until Rogue acquired both the historical resource and the surrounding 12,000 hectares of highly prospective ground including the 12km Nat River Iron Formation. The property is transected by a heavy gauge portion of the CN Rail mainline at the active Kukatush rail siding. There is power and water in the immediate vicinity north of the present drilling.

QUALITY CONTROL AND ASSURANCE

All drill core samples have been split and shipped by the Company to SGS Lakefield, where the samples are prepared and analyzed by fusion with lithium tetraborate-XRF for SiO2, Al2O3, CaO, Fe2O3, K2O, MgO, TiO2, P, Mn and Cr2O3, and retained moisture (LOI) by multi-temperature. Sulphur and sulphide analysis is done separate to the XRF analysis. Satmagan readings are done on each sample. A magnetite concentrate for some holes is produced using Davis Tube concentrator (DT) giving a weight recovery percentage (DTWR). The concentrate is then analysed by fusion with lithium tetraborate-XRF for SiO2, Al2O3, CaO, Fe2O3, K2O, MgO, TiO2, P, Mn and Cr2O3 and retained moisture (LOI) by multi-temperature. The company inserts systematic duplicates, blanks and standard samples every 30 samples to verify and assure acceptable consistency of analysis. SGS labs are an internationally recognized leader in iron ore analysis. Kevin Montgomery, P.Geo., is the qualified person for the purposes of National Instrument 43-101 and has reviewed the technical contents of this press release.

X-ray fluorescence (XRF) spectroscopy is commonly used to determine the iron grade of a deposit, reported as 'total iron'. In the case of taconite iron formations where the mineral of interest is magnetite, a strongly magnetic mineral, a direct physical measurement is conducted using the Davis Tube test technique. In the instance of Radio Hill the Davis Tube results are the most important parameter, since it is this parameter that is used to calculate mineral resource estimates.

ABOUT ROGUE IRON ORE CORP.

Rogue Iron Ore is an iron exploration and development company with offices in Vancouver BC, and Timmins, ON. The Company's primary asset is its Radio Hill Iron Project located 85km southwest of Timmins, Ontario.

Key Company milestones expected in the near term are:

  • Ongoing results from drilling at Radio Hill Iron Project
  • Completion of Radio Hill resource estimate
  • Announcement of JVs or other partnerships on non-core assets
  • Appointment of key personnel to technical and management teams

ON BEHALF OF THE BOARD OF DIRECTORS

Stephen de Jong, President & CEO

Follow Rogue Iron Ore Corp. On:

Facebook: http://www.facebook.com/rogueiron

Twitter: http://twitter.com/rogueiron

Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release 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, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company's planned exploration activities, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. 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, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. 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.

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.

Contact Information