Oct 27 2010
Rogue Resources Inc. (TSX VENTURE:RRS) has announced the start of diamond drill program to test the iron potential on its wholly-owned Radio Hill Iron-Ore project, located 80 km southwest of Timmins, Ontario.
The exploration program is designed to confirm mineralization identified in the 1960s as well as test the extent of mineralization below the existing 90 million tonne historic resource done by FENCO in 1965, which included a feasibility study. Historic estimates are as high as 427 million tonnes of 27.3% soluble iron with the tonnage variation determined by the depth of the conceptual open-pit used to contain the resource.
"We are pleased to announce the start of the first drill program to test the project's iron potential in over forty years. The only other exploration since 1965 was two diamond drill holes by Golden Chalice in 2008 which focused on precious metal targets associated with the iron and not the iron itself," comments Company President, Steve de Jong.
The location, close to theCanadian National Railway (CN) and to Timmins, together with the associated infrastructure in the Timmins area, is a significant advantage for the future development of the property. The Groundhog River 3 km to the west has the potential to provide an adequate water supply for future operations.
Geology:
The Radio Hill iron deposit is located in the Archean-aged northern Swayze Greenstone Belt.It is hosted in a stratigraphic sequence composed of sedimentary and volcanic rocks that are bound to the south by the Kukatush pluton and to the north by the Nat River igneous complex. The iron formation has a complex geologic history and has been metamorphosed to greenschistfacies, folded and faulted, intruded by mafic dikes, oxidized by deep weathering and subsequently glaciated.
Recent Exploration by the Company:
Two diamond drill holes were drilled in 2008 for assessment purposes to keep the property in good standing but were not analyzed for Iron. The company contracted Geotech Ltd. of Aurora, Ontario to conduct a combined magnetic-VTEM survey over the Timmins West property including the Radio Hill in 2009. The 742 line-km survey covered a 50 km2 area with 75 meter line spacing. A number of electro-magnetic (EM) and magnetic anomalies were identified in the survey area. The Radio Hill iron formation is easily identified in the total field magnetic map.
The historical estimates contained in this news release are not in accordance with the mineral resources or mineral reserves classifications contained in the CIM Definition Standards on Mineral Resources and Mineral Reserves, as required by National Instrument 43-101 ("NI 43-101"). Accordingly, the Company is not treating these historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and such historical estimates should not be relied upon. A qualified person has not done sufficient work to date to classify the historical estimates as current mineral resources or mineral reserves. The term "ore" in this release is being used in a descriptive sense for historical accuracy, and is not to be misconstrued as representing current economic viability
Kevin Montgomery, P.Geo., is the qualified person for the purposes of National Instrument 43-101 for the Company's Radio Hill Project. The contents of the press release have been reviewed and approved by Mr. Montgomery.