Rockland receives exploration permit for Cole

Executive Summary

• Rockland Resources Ltd. has received an exploration permit from the Ontario Ministry of Northern Development and Mines for its 100%-owned Cole gold mine project in the Red Lake district, Ontario.
• The permit allows for three years of exploration activities, including prospecting, trenching, and diamond drilling, on the property.
• The company highlights the strategic location of the Cole project within the prolific Red Lake Greenstone Belt (RLGB), citing proximity to infrastructure and successful neighboring mines like West Red Lake Gold’s Madsen and Rowan projects.

Key Details

• Permit Scope: The exploration permit covers activities including prospecting, trenching, and diamond drilling for a duration of three years.
• Property Location & Geology: The Cole gold property comprises 80 mining claims (1,438 hectares) located on Pipestone Bay within the western portion of the Red Lake Greenstone Belt (RLGB). It is situated within the Pipestone Bay-St. Paul Deformation zone, a D2 structure known to host bulk gold mineralization in the region.
• Historical Context: The property has a history of production from the 1930s, involving an exploration shaft to 162 metres with underground workings on three levels (2,134 metres of lateral crosscutting and drifting). Precise historical production figures are unknown, but modest high-grade gold was produced.
• Historical Drilling Data (Shaft Zone):
  • Kerr Addison Mines previously completed 19 shallow holes totaling 2,108 metres of drilling.
  • One drill hole yielded an intercept of 68.8 grams per tonne gold over 0.46 metre.
  • A non-NI 43-101 compliant historical resource estimate for the Shaft zone was calculated at 108,663 tonnes at a grade of 12.8 g/t Au.
  • Mineralization at the Shaft zone remains open at depth and along strike to the west.
• Recent Surface Work:
  • Rockland identified two new surface showings with assay results of 57.7 g/t Au and 16.7 g/t Au.
  • Additional assays returned 14.8 g/t Au and 7.21 g/t Au.
  • A historic drill hole (hole 12) evaluating a parallel structure yielded a 3.7-metre intercept containing visible gold in quartz-carbonate veining.
• Future Plans: Diamond drilling is planned for all mentioned zones (Shaft zone and new surface showings).

Notable Quotes

• Michael England, CEO: "We are very excited to have received these permits at this time with gold performing so well and the junior mining sector heating up. Our neighbour, West Red Lake Gold, continues to have great success at their Madsen mine and have just recently announced a PEA on their Rowan mine located even closer to our mutual border."
• Michael England, CEO: "This area is seeing renewed momentum, and we have an excellent gold project steeped in history that deserves attention now."