Rogue Resources Inc.
TSX VENTURE : RRS

Rogue Resources Inc.

September 09, 2015 08:00 ET

Rogue Resources Announces High Grade Silica Strike Length Extended over 100 meters to 1.5 Km, Adds Second Drill to Current Program and Arranges $2.5 M Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 9, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

  • THREE NEW CHANNEL SAMPLES COLLECTED ON QUARTZITE UNIT "H"
  • MINIMUM 1.5 KM STRIKE LENGTH ON QUARTZITE UNIT 'G' CONFIRMED
  • MIDDLE CHANNEL RESULTS ON 'G' CONFIRM CONSISTENCY OF HIGH SiO2 PURITY
  • 12 OF 25 PHASE ONE DRILL HOLES COMPLETED
  • SECOND DRILL TO ARRIVE ON SITE WITHIN A WEEK
  • 2,000 METERS ADDED TO PHASE TWO DRILL PROGRAM

Rogue Resources Inc. (TSX VENTURE:RRS) ("Rogue" or the "Company") is pleased to announce that assay results from an additional seven of fourteen channel sample units comprising 256 samples have been received on the Lac de la Grosse Femelle silica project ("Femelle") located approximately 42 kilometers ("km") north of Baie-Saint Paul, Québec, and 4 km northeast of Sitec's operating silica mine.

The Company is also pleased to announce that 12 of the 25 Phase One drill holes, comprising 2,261 meters ("m") have been completed. An additional drill will be onsite shortly and upon arrival will begin drilling the expanded Phase Two drill program. All drilling is expected to be completed prior to the end of November 2015. Drilling is designed to test the extent of Quartzite Unit "G" and the newly discovered "H" Quartzite unit, including their purity, depth, width and the length of extension below surface. Upon receiving all of the assays and compiling the results, an independent firm will be tasked with preparing a NI 43-101 compliant resource report and a corresponding Preliminary Economic Assessment ("PEA").

Channel R11 assays recording up to 99.8% Si02 extend the quartzite unit another 100 m east-northeast to a total of 1.5 km east of Channels R6 and R7 located in the same "G" quartzite unit (please see news releases dated August 20, 2015 and September 2, 2015). Newly reported are Channels R4 and R5 located 920 m east-northeast of R7 on the same unit and 540 m west-southwest of Channel R11. The replication of assays averages on the three smaller channel areas located approximately in the middle of the over 1.5 km strike length of the quartzite unit is considered indicative of the continuity of the high purity silica trend that is contained within the "G" quartzite unit.

The newly discovered "H" quartzite unit is pure white, coarse-grained, crystalline, and massive, with no apparent discolouration. Therefore, in response to the high purity SiO2 assays reported on R13, three additional channels, R13B, R13C and R13D, consisting of 39 samples located 31 m west-southwest of channel R13, were delivered to SGS Labs in Québec City.

Assays from Channels R1, R2, R3, and R14 indicate that these samples were taken on the southern edge of the contact with the "H" quartzite, and were located just outside of the quartzite unit.

To view a drill and channel sampling location map click on the link below:
http://www.rogueresources.ca/i/misc/2015-09-02-NR_Drill-Plan.jpg

"It is highly encouraging to have high purity silica assays reported on the east, middle and west ends of the "G" quartzite unit, open on both ends, supporting the continuity of the high purity silica for a strike length of not less than 1.5 km. Additional channel sampling was recently completed on the newly discovered Unit "H" as a direct response of the Unit being very white in colour with no apparent discoloration, and the high silica value assays of R13," commented Company President and CEO, John de Jong. "Adding an additional drill will allow us to complete all of our phase one and two drill programs prior to the end of November. We remain on budget and on target with our drilling and planning for a resource calculation in the New Year."

Channel Sample Results

Channel samples, R1 - R14, consisting of 256 samples totaling 446.7 m of channelling were delivered to SGS Laboratories in Québec City. Assay results for 55 samples over 93.9 m from channels R4, R5 and R11, on the "G" quartzite unit and R1, R2, R3 and R14 on the newly discovered quartzite unit "H" have been received.

Channels R4 and R5 Details:

  • Located in the central portion of "G" quartzite unit at 900 m east-northeast of R7 and 435 m west-southwest of R9
  • Seven samples submitted
  • Total channel sampling length 11.5 m
  • 3.1 m comprising two of seven samples in two sequences returned assays of SiO2 (99.0% to 99.2% SiO2)

Sequences of Assayed Silica Oxide Contents (Over 99.0% SiO2)

  • Sequence 1 for Channel R4: 1.5 m
    • 1.5 m interval assayed 99.0% SiO2
  • Sequence 2 for Channel R5: 1.6 m
    • 1.6 m interval assayed 99.2% SiO2

The higher silica content and purity was in quartzites that were white, coarse-grained, crystalline, and massive with minor pink staining (oxidation). Drilling designed to identify the width and depth of the "G" quartzite unit in this area and silica purity will begin within the next several days.

Table #1 - Channel R4 and R5

Hole
ID
Sample
No.
From
(m)
To
(m)
Width
(m)
Al2O3 %
Cr2O3 %
Fe2O3 %
K2O
%
MgO
%
Na2O
%
SiO
2 %
TiO
2 %
LOI
%
Sum
%
Densité
Relative
R4 649322 0.00 2.00 2.00 1.38 0.02 0.58 0.05 0.08 0.04 98.3 0.09 0.67 101.2
R4 649324 2.00 3.50 1.50 0.75 0.01 0.42 0.04 0.07 0.01 99.0 0.07 0.72 101.3
R4 649326 3.50 5.00 1.50 0.78 0.02 0.38 0.03 0.08 0.02 98.2 0.05 0.41 100.0
R4 649327 5.00 6.40 1.40 1.85 0.03 0.60 0.06 0.14 0.05 96.8 0.14 0.62 100.4
R5 649328 0.00 2.00 2.00 1.24 0.04 0.58 0.04 0.03 0.02 97.2 0.08 0.58 99.8 2.69
R5 649329 2.00 3.50 1.50 1.15 0.03 0.44 0.07 0.06 0.02 98.1 0.10 0.67 100.6
R5 649330 3.50 5.10 1.60 0.49 0.04 0.41 0.04 0.03 0.03 99.2 0.08 0.27 100.7

Channel 11 Details

  • Located 1.5 km east-northeast of channel R6 on the main quartzite zone "G"
  • Total channel sample length 55.6 m
  • 14 of 32 samples returned assays ranging from 99.0% to 99.8% SiO2 over combined width of 23.5 m

Sequence of Assayed Silica Oxide Contents (Over 99.0% SiO2)

  • Sequence 1: 36 m
    • 2 m interval assayed 99.3% SiO2
    • 20 m interval assayed between 99.0% to 99.8% SiO2
    • 2 m interval assayed 99.3% SiO2
  • Sequence 2: 4.6 m
    • 2.0 m interval assayed 99.3% SiO2
    • 0.6 m interval assayed 99.1% SiO2

The high purity quartzites are white, coarse, crystalline, massive and occasionally light pink. The last sample assaying 99.1% SiO2 is in the upper part of the quartzite and near the contact with the adjacent overlying para gneisses.

Table #2 - Channel R11

Hole
ID
Sample
No.
From
(m)
To
(m)
Width
(m)
Al2O3
%
Cr2O3
%
Fe2O3
%
K2O
%
MgO
%
Na2O
%
SiO2
%
TiO2
%
LOI
%
Sum
%
Densité
Relative
R11 649288 0.00 2.00 2.00 0.30 0.05 0.37 0.01 0.02 0.02 99.3 0.05 0.33 100.4 2.68
R11 649289 2.00 4.00 2.00 0.88 0.03 0.38 0.01 0.05 0.03 98.0 0.11 0.46 100.0
R11 649291 4.00 6.00 2.00 0.59 0.03 0.46 0.02 0.05 0.02 98.9 0.08 0.33 100.5
R11 649292 6.00 8.00 2.00 0.75 0.04 0.53 0.02 0.06 0.04 98.2 0.08 0.36 100.1
R11 649293 8.00 10.00 2.00 0.85 0.03 0.42 0.02 0.06 0.03 98.2 0.10 0.34 100.1
R11 649294 10.00 12.00 2.00 0.75 0.02 0.36 0.02 < 0.01 0.01 99.6 0.10 0.37 101.3
R11 649296 12.00 12.80 0.80 0.56 0.04 0.45 0.03 0.04 0.03 99.4 0.08 0.30 100.9
R11 649297 12.80 14.00 1.20 0.63 0.03 0.34 0.02 0.02 0.02 99.1 0.09 0.39 100.6
R11 649298 14.00 16.00 2.00 1.11 0.03 0.41 0.01 0.02 0.02 99.0 0.13 0.29 101.0 2.69
R11 649299 16.00 18.00 2.00 0.38 0.03 0.29 0.02 0.04 0.03 99.2 0.04 0.19 100.2
R11 649300 18.00 20.00 2.00 0.23 0.03 0.34 0.03 0.02 0.03 99.4 0.04 0.21 100.3
R11 649301 20.00 22.00 2.00 0.34 0.04 0.39 0.02 0.05 0.03 98.8 0.06 0.24 100.0
R11 649302 22.00 24.00 2.00 0.32 0.02 0.35 0.02 0.02 0.02 99.4 0.07 0.29 100.5
R11 649303 24.00 26.00 2.00 0.41 0.05 0.61 0.02 0.02 0.01 100.0 0.04 0.14 101.3
R11 649304 26.00 28.00 2.00 0.40 0.03 0.34 0.01 0.03 < 0.01 99.8 0.05 0.20 100.9
R11 649305 28.00 30.00 2.00 0.46 0.03 0.37 0.01 0.04 0.02 99.5 0.05 0.27 100.7
R11 649306 30.00 32.00 2.00 0.54 0.02 0.32 0.02 0.04 0.03 97.9 0.05 0.44 99.3
R11 649307 32.00 34.00 2.00 0.66 0.03 0.31 0.02 0.03 0.02 98.8 0.06 0.37 100.3
R11 649308 34.00 36.00 2.00 0.58 0.04 0.42 0.02 0.04 0.03 99.3 0.05 0.36 100.9 2.69
R11 649309 36.00 37.00 1.00 0.89 0.01 0.43 0.02 0.02 0.02 98.8 0.06 0.36 100.6
R11 649310 37.00 38.00 1.00 0.74 0.03 0.40 0.04 0.05 0.02 98.6 0.05 0.24 100.2
R11 649311 38.00 40.00 2.00 1.00 0.02 0.40 0.06 0.05 0.03 98.7 0.07 0.34 100.7
R11 649312 40.00 42.00 2.00 0.69 0.05 0.49 0.02 0.06 0.03 98.4 0.10 0.30 100.2
R11 649313 42.00 43.50 1.50 0.62 0.02 0.41 0.05 0.04 0.02 98.9 0.06 0.37 100.5
R11 649314 43.50 45.50 2.00 0.48 0.04 0.37 0.03 0.04 0.02 98.7 0.07 0.23 100.1
R11 649315 45.50 47.50 2.00 0.43 0.02 0.33 0.03 0.04 0.02 98.6 0.05 0.23 99.8
R11 649316 47.50 49.50 2.00 0.68 0.03 0.43 0.05 0.06 0.02 98.8 0.07 0.37 100.6
R11 649317 49.50 51.00 1.50 0.88 0.03 0.56 0.09 0.07 0.03 98.4 0.11 0.26 100.5
R11 649318 51.00 52.50 1.50 0.85 0.02 0.60 0.06 0.06 0.05 99.3 0.07 0.41 101.5 2.69
R11 649319 52.50 53.80 1.30 1.00 0.04 0.67 0.17 0.12 0.04 98.0 0.11 0.37 100.5
R11 649320 53.80 55.00 1.20 10.2 0.03 5.44 2.07 0.30 0.16 82.0 0.59 0.26 101.1
R11 649321 55.00 55.60 0.60 0.50 0.03 0.78 0.07 0.07 0.04 99.1 0.08 0.32 101.0

Channel R1, R2, and R3 Details:

  • Located on the southern edge of the newly discovered quartzite "H"
  • The assays indicate that the samples collected in these channels were located in the para gneisses on the southern edge of the quartzite zone "H"; therefore are considered to be outside the quartzite unit
  • Channel sample lengths were 4.2 m, 8.7 m and 4 m in length, respectively

Channel R14 Details:

  • Located on the southern edge of the newly discovered quartzite "H"
  • Samples collected are in the para gneisses at the southern edge of the contact and are therefore considered to be outside the quartzite unit

Table# 3 - Channel Location, Length and Sample Units.

Channel UTM-E UTM-N Loc Z Length Samples Date
DR_DMY
R1 381436 5294631 956 4.2 3 10/07/2015
R2 381448 5294624 959 8.7 5 10/07/2015
R3 381455 5294633 959 4 3 10/07/2015
R4 381561 5294413 961 6.4 4 10/07/2015
R5 381571 5294435 957 5.1 3 10/07/2015
R6 380722 5293947 916 72.8 40 01/07/2015
R7 380761 5293948 916 123.7 70 25/06/2015
R8 380850 5293964 929 86.3 47 06/07/2015
R9 381930 5294655 923 34 21 09/07/2015
R10 381979 5294695 920 10 6 09/07/2015
R11 382020 5294714 927 55.6 32 09/07/2015
R12 381347 5294607 949 5.3 5 07/07/2015
R13 381349 5294653 947 20.7 12 07/07/2015
R14 381448 5294624 959 9.9 5 10/07/2015
Total 14 446.7 256

Table #3A. Additional Channel Location, Length and Sample Units.

Channel UTM-E UTM-N Loc Z Length Samples Date
DR_DMY
R13B 381334 5294624 952 50.5 32 02/09/2015
R13C 381324 5294654 954 9.3 5 02/09/2015
R13D 381350 5294628 954 4 2 02/09/2015
Total 3 63.8 39

Drilling Update:

All 23 drill pads have been prepared to date. Drilling takes place 24 hours per day and both Phase One and Phase Two programs are scheduled to be completed by mid-to-late November. As part of the Company's commitment to preserve the local fauna and forest, remediation of each drill site and access point takes place immediately upon leaving the location and as the project progresses.

Table #4. Diamond Drill Holes Completed to Date, Phase One

DDH ID UTM E UTM N Elev
(m)
Line North Bearing Dip Drilled
Length
Zone Date Start
Drilled
Zone E
GF15-1 A1 380728 5293932 898 5+55W 100S 330 -45 177 Q-E 08/08/2015
GF15-2 A2 380790 5293948 917 5+00W 80S 330 -45 171 Q-E 10/08/2015
GF15-3 A3 380790 5293948 917 5+00W 80S 330 -60 261 Q-E 12/08/2015
GF15-5 A5 380728 5294025 966 5+00W 25N 150 -45 135 Q-E 18/08/2015
GF15-6 A6 380777 5294048 980 4+50W 15N 150 -45 150 Q-E 20/08/2015
GF15-7 A7 380777 5294048 980 4+50W 15N 150 -65 183 Q-E 22/08/2015
GF15-8 A8 380819 5294067 966 4+00W 15N 150 -45 165 Q-E 25/08/2015
GF15-9 A9 380910 5294116 977 3+00W 8N 150 -45 147 Q-E 27/08/2015
GF15-10 A10 380893 5294147 977 3+00W 43N 150 -45 185 Q-E 29/08/2015
GF15-11 A11 380975 5294201 972 2+00W 30N 150 -45 180 Q-E 01/09/2015
GF15-12 A12 381068 5294246 978 1+00W 50N 150 -45 198 Q-E 03/09/2015
GF15-13 A13 381154 5294293 978 0+00W 50N 150 -45 180 Q-E 05/09/2015
Zone H Extension
GF15-4 A4 381272 5294713 936 3+00E 361N 150 -45 129 Q-H 15/08/2015
Total Drilled 13 2261

Table #5. Planned Drill Holes Yet To Be Drilled, Phase 1

DDH ID UTM E UTM N Elev
(m)
Line North Bearing Dip Planned
Length
Zone
Zone H Extension
L1E-7DDH E 381077 5294648 937 1+00E 398N 150 -45 160 Q-H
L2E-5DDH F 381179 5294669 935 2+00E 392N 150 -45 160 Q-H
L4E-3DDH H 381374 5294728 933 4+00E 325N 150 -45 140 Q-H
L5E-8DDH I 381476 5294751 934 5+00E 298N 150 -45 180 Q-H
Zone G
L4E-2DDH 6 381526 5294450 980 4+00E 15N 150 -45 150 Q-G
L5E-16DDH 7 381609 5294514 971 5+00E 25N 150 -45 105 Q-G
L6E-17DDH 8 381687 5294575 964 6+00E 43N 150 -45 120 Q-G
L7E-18DDH 9 381777 5294614 942 7+00E 32N 150 -45 100 Q-G
L8E-19DDH A 381856 5294683 960 8+00E 60N 150 -45 120 Q-G
L9E-13DDH B 381927 5294746 954 9+00E 72N 150 -45 160 Q-G
L10E-14DDH C 382017 5294808 934 10+00E 100N 150 -45 160 Q-G
L11E-20DDH D 382107 5294854 900 11+00E 90N 150 -45 155 Q-G
Total Planned 12 1710

Private Placement

The Company is also pleased to announce it has arranged a non-brokered private placement of non-flow through Units at a price of $0.10 (the "Units") and Québec or National Flow Through Shares at a price of $0.15 (the "FT Shares"), for aggregate gross proceeds of up to $2,500,000 (the "Offering").

Each Unit will consist of one common share and one non-transferable common share purchase warrant. Each warrant forming part of the Unit will entitle the holder to purchase one common share at an exercise price of $0.12 for 24 months. Each FT Share will consist of one common share and no warrant.

The private placement and any modification to it are subject to compliance with applicable securities laws and approval of the TSX Venture Exchange. The Company may pay finders' fees in accordance with the policies of the TSX Venture Exchange.

The shares will be subject to a statutory four month hold period. Final closing date for the offering is anticipated to be on or about October 15, 2015. The Company reserves the right to increase the size of the private placement or to modify the type, nature and/or price of the units for any reason.

The proceeds from the issuance of the FT Shares will qualify as Canadian and/or Québec exploration expenses. Flow through funds received in 2015 will be renounced to investors no later than December 31, 2015. The Company intends to use the net proceeds of the Offering primarily for expenditures on the Company's Lac la de Grosse Femelle Silica Project as well as for general working capital.

Closing of First Tranche

The Company is pleased to announce that, subject to regulatory approval, it has completed the first tranche of its private placement by raising $625,000 through the issuance of 6,250,000 Units. Finder's fees in the amount of $43,750 and 437,500 compensation warrants are payable on this tranche. The shares forming part of the Units are subject to a 4 month hold period expiring January 8, 2016.

Use of Proceeds for the Offering Include

Advancing the Lac de la Grosse Femelle Silica property by completing the 2015 exploration program as outlined in the Company presentation that can be found on its website and initiating the 2016 exploration program including metallurgical testing, further drilling, bulk sampling, resource calculation and PEA.

About Rogue Resources Inc.

With its diverse portfolio of properties, all in good standing, the Company has the ability to focus its efforts and finances on the project that demonstrates the greatest market potential for return. The recent investment of $382 M by the Québec provincial government in Grupo FerroAtlantica, one of the world's largest silicon metal producers, to build a silicon metal plant located near our silica property is a great foundational point to launch this silica rich quartzite property.

The Femelle Project is located approximately 42 km north of Baie-Saint Paul, situated on the St. Lawrence River, and is 4 km northeast of the Mine Sitec silica mine, in operation for over fifty years. Access to the project is via a paved highway and well maintained forestry access roads.

Qualified Person

The Lac de la Grosse Femelle exploration project is under the direct supervision of Eddy Canova, P Geo., and Senior Vice-President of the Company, a Qualified Persons ("QP") as defined by National Instrument 43-101, assisted by Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., Geo. of Geologica Inc., and Dr. Trygve Hoy, P.Eng, PhD, all independent QPs as defined by National Instrument 43-101. The Company's QP has approved the scientific and technical content of this release.

On Behalf of Rogue Resources Inc.

John de Jong, CEO & President

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 constitute forward-looking statements, including timing of completion of the Private Placement and exploration work. 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, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results 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, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. 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.

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