Rockridge Resources Ltd. (Rockridge or the Company) secured a three-year exploration permit for the 100% owned Knife Lake Copper Project (Saskatchewan, Canada).
Knife Lake VMS Project Location Map. Image Credit: Rockridge Resources Ltd.
The Knife Lake Project, comprising 82 claims spanning 56,865 hectares (140,516 acres), represents an advanced-stage exploration property for copper, silver, zinc, and cobalt in Saskatchewan, home to the Knife Lake Deposit.
The permit specifically encompasses mineral exploration tasks, such as prospecting, mapping, ground/airborne geophysical surveys, drilling up to 70 holes, and core storage. The company has initiated preparations for forthcoming exploration endeavors and drill programs at the Project.
This has been very timely with the recent and current increase in copper prices and demand globally. It will be great to leverage off the current bull market on copper and we are fully prepared and ready. We have identified some key targets for further exploration and we are planning future drilling at the high-grade Knife Lake Project.
Jon Wiesblatt, CEO, Rockridge Resources Ltd.
Knife Lake Geology and History
The Knife Lake Deposit is a remobilized VMS deposit. The stratabound mineralized zone, measuring roughly 15 m thick, holds copper, silver, zinc, gold, and cobalt mineralization. It inclines at an angle of 30° to 50° eastward along a confirmed strike length within Rockridge's claim area spanning 3,700 m, with an average known down-dip extension of approximately 300 m.
Felsic holds the deposit to intermediate volcanic and volcaniclastic rocks, metamorphosed to upper amphibolite facies. The mineralization includes VMS-derived, significantly modified, and partially remobilized by granitic rock emplacement. It straddles the boundary between two rock units and occurs on both limbs of an interpreted overturned fold.
The company’s winter drilling programs in 2019 and 2021 completed 24 holes totaling 3096 m of diamond drilling. The land has not been drilled since 2001. The company's technical team has gained important knowledge about the geology, alteration, and mineralization of the property from both programs. This knowledge will be applied to upcoming regional exploration on the extremely prospective and underexplored land package.
The previously reported hole KF19003, which intersected net-textured to semi-massive sulfide mineralization from 11.2 m to 48.8 m downhole, is one of the drill programs’ highlights. For an estimated 2.42% CuEq, this interval of 37.6 m yielded 2.03% Cu, 0.19 g/t Au, 9.88 g/t Ag, 0.36% Zn, and 0.01% Co.
In August 2019, Rockridge disclosed a maiden NI 43-101 resource estimate for the Knife Lake deposit. This comprised a pit-constrained indicated resource of 3.8 million tons at 1.02% CuEq, along with an inferred resource of 7.9 million tons at 0.67% CuEq, employing a 0.4% CuEq cut-off.