Rugby Mining Limited

November 14, 2011 06:32 ET

Rugby Mining Limited: Drilling Commences at the Interceptor Project, Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2011) - Rugby Mining Limited ("Rugby" or the "Company") (TSX VENTURE:RUG) (FRANKFURT:7RM.F) is pleased to report that it has commenced drilling at the Interceptor Gold-Copper Porphyry Project located in Catamarca Province, Argentina. The 2,000 metre ("m") diamond drilling program will test a porphyry system defined by a gold-copper geochemical anomaly that is coincident with a large scale geophysical target.

The Interceptor Project ("Interceptor") is located approximately 100 kilometres ("km") east of the renowned Maricunga gold belt in Chile. The district includes the Maricunga and La Coipa gold mines and the very large Cerro Casale and Caspiche gold-copper projects. The Alumbrera Mine and the Agua Rica deposits are 150km northeast of the property. Road access to the project is good, occurring within 10km of the sealed main road linking Chile to Argentina (Route 60) and the nearby town of Fiambala.

To view the figures associated with this release, please visit the following link:

Click here for pictures of the drill rig preparing for the first drill hole at Interceptor:

Trenching at Interceptor by Newcrest Mining Ltd. in 1997 identified gold-copper mineralization in a sediment-hosted intrusive complex. That trenching exposed secondary copper mineralization associated with an altered hornblende-dacite porphyry intrusive in a zone up to 100m wide. Gravel cover and overlying sediments obscure the extent of potential mineralization. No previous drilling was conducted to test the system at depth.

A recent geophysical survey conducted for the Company defined a coincident resistivity and a 1,600m wide chargeability anomaly that is open both north and south (Figure 2). The initial drilling focus is a low resistivity feature which may be associated with a more intensely altered and mineralized portion of the intrusive system, interpreted to potentially extend to a depth of +1,000m. Three drill holes are planned to test this large target.

To view the figures associated with this release, please visit the following link:

Paul Joyce, the Company's CEO stated, "The commencement of drilling on the Interceptor Porphyry target is an important milestone for Rugby. The system appears to have very significant dimensions and thus represents a "company maker" opportunity for us. We anticipate initial drill assays from Interceptor will be reported in early 2012."

Francisco Montes, a "qualified person" within the definition of that term in NI 43-101, has supervised the preparation of the technical information contained in this news release.

About Rugby

Rugby, with a treasury of CDN $5 million, is an emerging mineral resource company exploring for gold, silver and base metals. The management team has a track record in the successful identification, acquisition, exploration and development of international mining projects.

Interceptor Project, Argentina: Rugby has an option to acquire 100% of the Interceptor porphyry gold-copper project in mining friendly Catamarca Province. The property is located near the Maricunga gold belt of Chile, an established mining district which hosts significant operating gold mines and advanced stage porphyry projects. Interceptor is "drill ready" with large scale targets defined by geochemical and geophysical surveys. Drilling is underway.

Mabuhay Project, Philippines: The Company has an option to acquire up to an 80% interest in the Mabuhay Project in mining friendly Surigao Province. The Company considers the project has excellent potential for the discovery of both gold-copper porphyry and epithermal type gold deposits. The property includes the former Mindanao Mother Lode Mine, a high-grade epithermal vein style gold mine that is estimated to have produced approximately 500,000 ounces of gold in the period 1937 to 1953. The Mother Lode Mine was one of the Philippines' highest grade gold producers.

Comita Project, Colombia: Rugby has an option to earn up to a 60% interest in Comita, a porphyry copper-gold project in the western cordillera of Colombia. The Comita project was recognised as a porphyry system during a joint German-Colombian government sponsored exploration program over 20 years ago. No systematic exploration has been conducted since that time. Rugby recently completed a 555 line km helicopter-borne geophysical magnetic and radiometric survey over the project area. The survey will assist in designing the 2012 drilling program.

Hawkwood Project, Australia: Rugby has an option to acquire up to a 90% interest in the Hawkwood project which covers 427 km2 of prospective copper-gold and iron tenements in Queensland. In January 2010, the Company entered into an agreement with Eastern Iron Limited wherein that company can earn up to an 80% ownership of iron ore targets in the area. To date Eastern Iron has conducted several geophysical surveys and a drilling program.

Rugby recently completed a geochemical sampling and reconnaissance program at the Mary Elizabeth prospect located within a 229 km2 area excluded from the Eastern Iron agreement.

For additional information you are invited to visit the Rugby Mining Limited website at


Paul Joyce, President and CEO


Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the British Colombia, Alberta and Ontario Securities Acts. This includes statements concerning the Company's plans at its projects, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the effect on prices of major mineral commodities such as copper, gold and iron by factors beyond the control of the Company; events which cannot be accurately predicted such as political and economic instability, terrorism, environmental factors and changes in government regulations and taxes; the shortage of personnel with the requisite knowledge and skills to design and execute exploration programs; difficulties in arranging contracts for drilling and other exploration services; the Company's dependency on equity market financings to fund its exploration programs and maintain its mineral exploration properties in good standing; political risk that a government will change, interpret or enforce mineral tenure, environmental regulations, taxes or mineral royalties in a manner that could have an adverse effect on the Company's assets or financial condition and impair its ability to advance its mineral exploration projects or raise further funds for exploration; risks associated with title to resource properties due to the difficulties of determining the validity of certain claims as well as the potential for problems arising from the interpretation of laws regarding ownership of mineral tenures in the Philippines and in the sometimes ambiguous conveyancing characteristic of many resource properties, currency risks associated with foreign operations, the timing for obtaining permits to conduct exploration activities, the ability to conclude agreements with local communities and other risks and uncertainties, including those described in each of the Company's management discussion and analysis including those contained in its year-end financial statements for the year ended February 28, 2011 filed with the Canadian Securities Administrators and available at
In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.


Contact Information

  • Rugby Mining Limited
    P. Joyce
    604.688.4941 or Toll-free: 1.855.688.4941
    604.688.9532 (FAX)

    Rugby Mining Limited
    Cecil Bond
    604.688.4941 or Toll-free: 1.855.688.4941
    604.688.9532 (FAX)

    Rugby Mining Limited
    Suite 1660, 999 West Hastings St.
    Vancouver, BC Canada V6C 2W2