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Rockridge Punches 2.45% CuEq over 15.2m Near Surface

Source: Bob Moriarty for Streetwise Reports

 

June 12, 2019 (Investorideas.com Newswire) Bob Moriarty of 321 Gold explains why he's excited about the drill results at this company's copper mine.


It's no secret that copper is both in severe shortage with increasing demand at the same time production is declining. A new Canadian based junior exploration company has an interesting direction they are moving in. Rockridge Resources Ltd. (ROCK:TSX.V) wants to use modern advanced technology to test old mining camps in safe jurisdictions.

Their latest drill results from their Knife Lake deposit in Saskatchewan seem to indicate they are on to something. Aided by Ron Netolitzky of the Canadian Mining Hall of Fame, the company made a decision to focus on known areas of mining that hadn't been explored with modern techniques.

The Fraser Institute ranks Saskatchewan as the #3 highest mining jurisdiction in the world. Rockridge is busy drilling their Knife Lake VMS deposit with a known but historic resource of 20 million tonnes of 0.6 copper and 0.1 g/t gold.

Knife Lake is located in the Flin Flon mining camp, home to production of over 170 million tons of ore from 31 different VMS deposits since 1915. Rockridge is in the midst of a diamond core drill program of some eight to ten drill holes. This is the first drilling on the project since 2001. The program has two goals; one is to confirm past drill results and to expand the area of known mineralization.

Early results have been excellent. On April 30th the company released the first two drill holes and intersected 1.28% copper and 1.49% CuEq over 33.1 meters 7.5 meters from the surface along with a 2nd hole showing 43.8 meters of 0.93% CuEq. That was followed a week later with another release showing 2.03% copper and 2.42% copper equivalent over 37.6 meters starting from 11.1 meters depth.

On June 10th they made yet another brilliant report showing 2.01% copper and 2.45% CuEq over 15.2 meters from 5.1 meters down hole. Investors should keep in mind that even at $2.65 copper, a 1% intercept is worth $58 in the ground. Rockridge is releasing excellent results near surface in one of the best places in the world to mine.

Rockridge picked up the project from Eagle Plains under an option calling for ROCK to pay a total of $150,000 and to issue 2 million shares up front and to spend $3.25 million in exploration and to issue a further 3,250,000 shares over a five year period. The project is subject to a 2.5% NSR.

Based on the historic reports and this latest drill program, Rockridge will be releasing a current 43-101 around mid-July.

With just over a five million dollar market cap and a known resource, the stock is pretty cheap. It's a pure bet on both copper and increasing instability in the mining world. The district is known, infrastructure is in place and they have solid management and great advisors.

The company has done an excellent job of communication and for all potential investors I suggest reading their excellent corporate presentation.

Rockridge is an advertiser. I do not yet own shares. Do your own due diligence.

Rockridge Resources
ROCK-V $0.23 (Jun 11, 2019)
RRRLF-OTCBB 25.4 million shares
Rockridge Resources website.

Bob and Barb Moriarty brought 321gold.com to the Internet almost 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.

Disclosure:

1) Bob Moriarty: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Rockridge Resources is an advertiser on 321 Gold. I determined which companies would be included in this article based on my research and understanding of the sector.

2) The following companies mentioned are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

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