Gold-Silver Geochemical Anomalies Defined by Soil Sampling Program at El Zanjon, Argentina
28 April 2020 - 8:30PM
Rugby Mining Limited (“Rugby” or the “Company”) (TSX-V:
RUG) is pleased to report on the results of a soil
sampling program recently completed on the El Zanjon gold-silver
project in Santa Cruz province, Argentina.
The program was initiated by Rugby as a
follow-up to ground magnetic surveys which had outlined prospective
structures for hosting epithermal gold silver mineralization
characteristic of the Deseado Massif. The favourable host rocks
underlie recent sediments up to 100 meters (“m”) thick.
Highlights
- The geochemical program comprised some 108 surface samples
collected at 320 m spaced intervals over 35-line kilometres.
- Samples were assayed for 61 multi-elements using
ultra-sensitive Ionic Leach by ALS (Vancouver). This methodology is
used to identify metal zonation within and haloes surrounding
mineralization.
- Gold values range from 0.02 to 0.96ppb and silver values range
from 11 to 30.1ppb (Figures 2 & 3).
- Ten zones of anomalous gold-silver geochemistry were defined
(Figure 4) ranging from 320 m to 2,800 m in length.
- A number of these anomalies have coincident lower pH readings
(Figure 5) suggesting an acidic environment which can indicate
oxidation from sulfides at depth, an association common to other
epithermal projects in Patagonia.
- Additional in-fill geochemical sampling is recommended.
Project Location
El Zanjon covers approximately 600 square
kilometres near world class mines at Cerro Negro
(Newmont-Goldcorp), Cerro Vanguardia (AngloGold Ashanti) and Cerro
Moro (Yamana) (Figure 1).
Chief Executive Officer, Bryce Roxburgh
commented “We are very encouraged by these early results and plan
more detailed follow-up sampling in the southern spring when the
weather is more favourable. Searching for gold below recent
sediments represents a challenge yet this approach is showing
considerable promise. Our exploration team comprises members from
the Extorre technical group responsible for the discovery of the
high-grade Cerro Moro mine.
“Argentina, like most countries, is currently
subject to lockdown due to the COVID-19 virus, but we hope that we
will be in a position to work in several months”.
Sampling Methodology
- The soils were sampled following ALS laboratories sampling
instructions.
- All site locations were recorded as WGS84, UTM Easting and
Northing coordinates Zone 19 using a hand-held Garmin eTrex®
20.
- Samples were collected from 10 cm to 20 cm below the
surface.
- A 120-gram sample was collected and placed in a Ziplock plastic
bag with the sample number permanently marked on the bag.
- The bag was folded over to remove most of the air and sealed,
then placed in another plastic bag again removing as much air as
possible prior to sealing.
- Jewelry was removed and only plastic and wooden implements were
used.
- All 108 samples were placed in plastic boxes and dispatched to
ALS (Vancouver) for Ionic Leach analysis by ME-MS23™ method. ALS
are certified ISO/IEC 17025:2017 and ISO 9001:2015
- Ten laboratory duplicate samples were included in the
analysis
Data Analysis
- The geochemical data were imported into project’s database for
geostatistical analysis, determination of correlation and
geochemical mapping.
- The dataset of 108 assays was filtered by soil type and grouped
in Sand and Gravel (SG) or Tertiary (TR) to analyse them
independently.
- Geostatistics were calculated using Discover software for the
sub-dataset Ag, As, Au, Cd, Cu, Fe, Hg, Mo, Pb and Sr.
- The percentiles were then used to prepare accurate geochemical
thematic maps with the objective of distinguishing anomalies.
Paul Joyce, Rugby’s Chief Operating Officer,
Director and a “qualified person” (“QP”) within the definition of
that term in National Instrument 43-101, Standards of Disclosure
for Mineral Projects, has verified the technical information that
forms the basis for this news release.
About RugbyRugby is an
exploration company conducting “discovery stage” exploration on
highly prospective targets in Colombia, Argentina, the Philippines
and Australia. Importantly, Rugby controls a large portfolio of
projects and applications in Colombia that have considerable
potential for significant gold-copper discoveries.
The Company benefits from the experience of its
directors and management, a team that has either been directly
responsible for world-class mineral discoveries or have been part
of the management teams responsible for such discoveries. Prior
companies under their management included Exeter Resource
Corporation and Extorre Gold Mines Limited, which held significant
projects in South America. These companies were taken over by
Goldcorp (Newmont) and Yamana respectively.
For additional information you are invited to
visit the Rugby Mining Limited website at www.rugbymining.com.
Jon Hermanson, VP, Corporate
DevelopmentTel: 604.688.4941 Fax:
604.688.9532Toll-free: 1.855.688.4941 |
Suite 810, 789 West Pender St.Vancouver, BC Canada V6C
1H2info@rugbymining.com |
CAUTIONARY STATEMENTCertain of
the statements made and information contained herein is
“forward-looking information” within the meaning of the British
Columbia, Alberta and Ontario Securities Acts. This includes
statements concerning the Company’s plans at its projects including
the expected timing of drilling and/or geophysics programs,
prospectivity, high grade potential and potential for mineral
discoveries, the style or occurrence of the mineralization and
drilling costs which involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance
or achievements of the Company, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
information. In addition, the Company holds certain of its projects
under option agreements, which require expenditure and/ or drilling
requirements in order to maintain its interest. Should the Company
not be able to meet its obligations or renegotiate the agreements
it will lose its rights under the option agreement. Forward-looking
information is subject to a variety of risks and uncertainties
which could cause actual events or results to differ from those
reflected in the forward-looking information, including, without
limitation, the effect on prices of major mineral commodities such
as copper and gold by factors beyond the control of the Company;
events which cannot be accurately predicted such as political and
economic instability, terrorism, pandemics or any other serious
global health problem that prevents the ability to do operations,
environmental factors and changes in government regulations and
taxes; the shortage of personnel with the requisite knowledge and
skills to design and execute exploration programs; difficulties in
arranging contracts for drilling and other exploration services;
the Company’s dependency on equity market financings to fund its
exploration programs and maintain its mineral exploration
properties in good standing; political risk that a government will
change, interpret or enforce mineral tenure, environmental
regulations, taxes or mineral royalties in a manner that could have
an adverse effect on the Company’s assets or financial condition
and impair its ability to advance its mineral exploration projects
or raise further funds for exploration; risks associated with title
to resource properties due to the difficulties of determining the
validity of certain claims as well as the potential for problems
arising from the interpretation of laws regarding ownership or
exploration of mineral properties in the Philippines and Colombia
and in the sometimes ambiguous conveyancing characteristic of many
resource properties, currency risks associated with foreign
operations, the timing of obtaining permits to conduct exploration
activities, the ability to conclude agreements with local
communities and other risks and uncertainties, including those
described in each of the Company’s management discussion and
analysis and those contained in its financial statements for the
year ended February 28, 2019 filed with the Canadian Securities
Administrators and available at www.sedar.com. In addition,
forward-looking information is based on various assumptions
including, without limitation, assumptions associated with
exploration results and costs and the availability of materials and
skilled labor. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in
forward-looking statements. Accordingly, readers are advised not to
place undue reliance on forward-looking information. Except as
required under applicable securities legislation, the Company
undertakes no obligation to publicly update or revise
forward-looking information, whether as a result of new
information, future events or otherwise.
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REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
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THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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