Rockland hits visible gold in first Red Lake holes

Executive Summary

• Rockland Resources Ltd. reported visible gold intersections in the first two drill holes (RR-26-01 and RR-26-02) of a 3,000-metre diamond drilling program at its 100%-owned Cole Gold Mines project in the Red Lake District, Ontario.
• The drilling aimed to confirm the style and nature of gold mineralization at the historic Cole mine and establish alteration styles, lithologies, and structural controls for future exploration.
• Visible gold was found in deformed quartz veins and stockworks within broad zones of intense silicification, with mineralization hosted in association with altered ultramafic and mafic dikes, suggesting potential for appreciable widths of gold mineralization.

Key Details

• Drill Hole RR-26-01:
  • Visible gold intersected at three locales from 82.20 to 82.60 metres down hole (core length of 0.40 metre).
  • An additional intercept obtained at a depth of 85.70 metres down hole.
• Drill Hole RR-26-02:
  • Deeper cut below RR-26-01.
  • Visible gold intersected over a 0.20-metre interval between 74.90 to 75.10 metres.
  • Additional intercept at a depth of 187.00 metres down hole.
• Geological Context:
  • Gold mineralization is hosted in deformed quartz veins, veinlets, and stockwork crosscutting broad zones of intense silicification (7- to 30-metre widths).
  • Silicified zones contain lesser biotite and subordinate garnet.
  • Veins contain fine-grained arsenopyrite, chalcopyrite, pyrite, and locally tourmaline.
  • Silicified zones contain disseminated chalcopyrite, pyrite, and arsenopyrite in seams and fracture fillings.
  • Silicified zones are flanked by intervals of strong biotitic alteration with less intense silicification containing garnet.
  • Prominent altered ultramafic and mafic dikes are closely spatially associated with the veins and silicification zones, suggesting they occupy and heal the same structures.
• Project Status:
  • Exploration includes a shaft sunk to 160 metres with levels at 90, 120, and 150 metres.
  • The Cole gold mine is a non-producing historic mine.
  • Core is currently being logged, sampled, and split prior to analysis.

Notable Quotes

• "Multiple occurrences of visible gold in each of the two initial drill holes is a very exciting start to this drill program. Hole RR-26-2 is the deepest hole completed yet and contains the best occurrence of visible gold obtained to date. This intercept occurs beneath the Cole gold mine workings, indicating gold mineralization continues to depth which is very encouraging. We also look forward to drilling several other high-priority targets containing high-grade gold mineralization that have never been drill tested." — Mike England, Chief Executive Officer