Connect with us

Hi, what are you looking for?

Economy

Ramp Metals Announces Final Assays and Additional Gold Target

Ramp Metals Inc. (TSXV: RAMP) (‘Ramp Metals’ or the ‘Company’) is pleased to provide final drill results and a technical update for its new high-grade gold discovery in Saskatchewan. The Company has now received final assays from its winter 2024 drill program at the Rottenstone SW property. In addition to the discovery hole (Ranger-01), the Company also intersected gold mineralization in all drillholes at its Rogue target 3km away.

Highlights

  • Ranger-01 discovery hole with multiple gold zones, including 73.55 g/t Au and 19.50 g/t Ag from 227-234.5m (Table 1).

  • Discovery hole is still open at depth and in all directions with casing left in place.
  • Gold mineralization intersected at Rogue target located 3km west, across regional strike from Ranger.
  • Rottenstone SW land package recently increased to a total of 32,715 Ha. (Figure 1)

‘We are thrilled to make a significant gold discovery and be the first mover in a potential new gold district. Our discovery hole is open in all directions with the last reportable intercept being very close to the bottom of the hole. In addition to the Ranger target, our Rogue target also encountered gold which points to the potential for a robust gold system on our property,’ states Jordan Black, the Company’s Chief Executive Officer.

Figure 1: Rottenstone SW – Updated Claims Map

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8725/215704_dd616ea734e56b6a_001full.jpg

Highlights
HOLE ID From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Target
Ranger-01 227 234.5 7.5 73.55 19.50 Ranger
Including 227 228.5 1.5 164.00 33.50
Including 230 231.5 1.5 182.00 60.80
Including 231.5 233 1.5 19.90 2.70
Ranger-01 293 298 5 4.17 1.01 Ranger
Including 293 294.5 1.5 6.18 1.40
Including 296 297.5 1.5 7.28 1.90
Ranger-01 307 310 3 1.81 0.37 Ranger
Including 307 308 1 2.54 0.60
Including 309 310 1 2.85 0.50
Rogue-01 14 18.5 4.5 0.66 0.27 Rogue
Including 14 15.5 1.5 1.15 0.50
Including 17 18.5 1.5 0.81 0.30
Rogue-02 216.5 218 1.5 0.60 Rogue
Rogue-03 243 244 1 1.22 0.90 Rogue
* Values denoted with ‘-‘ have not yet been assayed for Ag

Table 1: Highlighting significant results received from Ranger-01, Rogue-01, Rogue-02, & Rogue-03. True widths are unknown at this time.

Figure 2: Rottenstone SW – Winter 2024 Drill Holes.

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8725/215704_dd616ea734e56b6a_002full.jpg

Ranger Target

Ranger-01 drillhole was drilled to a depth of 314m and tested a conductive anomaly approximately 3km east-south-east of the Rogue target (Figure 2). Prospecting in October 2023 discovered angular, ultramafic boulders and outcrop at this location. Two samples from the October program, 170677 and 170681, returned significant gold values of 5.11 g/t and 1.09 g/t, respectively. After further inspection, it’s been determined that Quartz diorite was intersected from 145.05m until the end of the hole at 314m. The main intrusive body was cross-cut with mafic dykes and thin bands of granitic material. The high-grade sections noted in Table 1 contained very fine-grained visible gold. Mineralization was located within higher strain zones with more pronounced foliation and can be seen in the figures below.

Figure 3: Ranger-01, core boxes 51 & 52 showing mineralized interval 225.50-234.48m of granitoids crosscutting massive Quartz Diorite. Core in Figure 4 is circled in red.

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8725/215704_dd616ea734e56b6a_003full.jpg

Figure 4: showing 231.15 – 231.27m of Ranger-01 with location of visible gold circled. This section falls within the highlighted intercept of 73.55 g/t Au over 7.5m.

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8725/215704_dd616ea734e56b6a_004full.jpg

Figure 5: 20X magnification of visible gold from circled area in Figure 4 above

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8725/215704_dd616ea734e56b6a_005full.jpg

Figure 6: 30X magnification showing fine-grained gold and silver smear along cut face of 231.15-231.27 section (Figure 4).

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8725/215704_dd616ea734e56b6a_006full.jpg

Rogue Target

The Rogue target also shows significant potential for gold. Three drill holes totalling 866m were drilled at the Rogue target. All three holes intersected gold mineralization. The gold mineralization intersected to date at Rogue appears to be associated with late-stage granitic pegmatites. The Company speculates that the multiple low-grade intercepts (Table 3) and alteration styles encountered (Figure 7) at Rogue point to the potential of a significant gold system on the property. The Rogue and Ranger targets are located approximately 3km apart, across regional strike.

Despite no significant nickel or copper mineralization being intersected, the Company believes there may be a spatial relationship between the pyrrhotite rich sulphide zones encountered and the gold mineralization in the region.

Figure 7: Rogue-02, core boxes 73-76 showing intensely altered metavolcanics with silica flooding and quartz veins. The photo is for geologic context and not representative of mineralized zones encountered at the Rogue target.

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8725/215704_dd616ea734e56b6a_007full.jpg

HOLE ID Depth (m) Easting* Northing* Elevation (m) Dip Azimuth Target
Rogue-01 250.30 490106 6208238 470 -70 100 Rogue
Rogue-02 350.00 490103 6208240 470 -50 325 Rogue
Rogue-03 266.00 490006 6208293 471 -70 030 Rogue
Ranger-01 314.00 492758 6206675 437 -60 310 Ranger
*Coordinates in UTM NAD83 Zone 13

Table 2: Winter 2024 Rottenstone SW Drill Hole Summary

Expanded Results

HOLE ID From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Target
RANGER-01
Ranger-01 58.5 60 1.5 0.25 0.30 Ranger
219 220 1 0.52
220 221 1 0.52
227 228.5 1.5 164.00 33.50
228.5 230 1.5 0.87 0.40
230 231.5 1.5 182.00 60.80
231.5 233 1.5 19.90 2.70
233 234.5 1.5 0.99 0.40
234.5 235 0.5 0.34
235 236 1 0.23
238.5 239 0.5 0.27
281 282.5 1.5 0.26
282.5 284 1.5 0.25
293 294.5 1.5 6.18 1.40
296 297.5 1.5 7.28 1.90
297.5 298 0.5 0.91 0.20
307 308 1 2.54 0.60
309 310 1 2.85 0.50
310 311 1 0.27
ROGUE-01
Rogue-01 14 15.5 1.5 1.15 0.50 Rogue
17 18.5 1.5 0.81 0.30
31.63 33.13 1.5 0.84
34.63 35.65 1.02 0.46
46.15 47.65 1.5 0.29 0.30
49.15 50.65 1.5 0.24
61.89 63.39 1.5 0.21
76.37 77.87 1.5 0.25 0.20
ROGUE-02
Rogue-02 216.5 218 1.5 0.60 Rogue
ROGUE-03
Rogue-03 243 244 1 1.22 0.90 Rogue
* Values denoted with ‘-‘ have not yet been assayed for Ag
** a cutoff grade of 0.2g/t Au has been used for values in this table

Table 3: Results received over 0.2 g/t Au from Ranger-01, Rogue-01, Rogue-02, & Rogue-03. True widths are unknown at this time

‘We could not be happier with the results from the first ever drill program at Rottenstone SW,’ commented Garrett Smith, VP Exploration for Ramp Metals. ‘While gold wasn’t what we were looking for out there, this just goes to show what can happen when you actually go out and test new targets. It also highlights the importance of assaying every meter of core that is drilled, as this discovery could have easily been missed otherwise. We look forward to following up on these results and showing the true potential of this new gold discovery in Saskatchewan.’

Next Steps

The Company is currently in the permitting and consultation process for an extensive geophysical, mapping, and sampling program. A follow up fall/winter drill program is also being planned.

Further assays will be submitted in select sections to fill in Multi-Element gaps in results as well as whole rock analysis to aid in further investigation and analysis.

As a result of the discovery, the Company is planning to shift its focus from battery metals to gold exploration and will be updating its website and corporate presentation in the near future.

Geochemical Sampling Procedures

All drill core samples were sent to Saskatchewan Research Council Geoanalytical Laboratories (‘SRC’) in Saskatoon, Saskatchewan (an accredited laboratory) by secure transport for base and precious metal assay. Base metals were assayed by their ICP3 base metal package, which includes a total of 35 analytes by ICP-OES. All samples that were assayed by the ICP3 base metal package have been analyzed for gold, platinum and palladium using the AU5 Fire Assay Technique. Any remaining samples not sent for ICP3/AU5 were assayed using the AU2 Fire Assay Technique.

All drill holes are systematically logged, photographed and sampled by a trained geologist at Ramp Metals’ secure core processing facility. Drill core samples are marked in intervals of up to 1.5m and cut in half using a diamond saw with half sent for assay and the other half saved for reference. Samples are then bagged and zip-tied, with 10-13 bagged samples placed into sealed rice bags for transport to SRC by Company personnel directly. Sample QA/QC procedures were applied by inserting a regular and systematic schedule of standards, blanks and duplicates into the sample stream. Certified standard reference material, blanks and duplicates were inserted into the sample stream at a minimum target of 5% insertion rate in addition to the laboratory’s internal quality assurance programs. Blanks were inserted at the start of each batch (35-36 samples) and additionally at the discretion of a trained geologist after samples of high sulphide content. Certified standard reference material and duplicates were inserted into the sample sequence at a rate of 1 in every 30 samples each, alternating between a standard and duplicate every 15 samples.

The Rottenstone SW Property

The Rottenstone SW property is located in the Rottenstone Domain, in Northern Saskatchewan, Canada, approximately 115 kilometers North of La Ronge, Saskatchewan. The property consists of 19 mineral deposit claims covering approximately 32,715 hectares. The Rottenstone SW property is located along a regional NE-SW structure from the historic Rottenstone Mine, which produced 40,000 tons of high-grade nickel-copper-platinum group elements plus gold (Ni-Cu-PGE + Au) ore grading 3.28% Ni, 1.83% Cu and 9.63 g/t (Pt-Pd-Au).

Qualified Person

Brett Williams, P.Geo., VP Operations and Senior Geologist for Ramp Metals, and a ‘qualified person’ under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content in this news release.

About Ramp Metals Inc.

Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The company currently has new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This news release contains ‘forward-looking statements’ within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or variations of such words and phrases or may contain statements that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will be taken’, ‘will continue’, ‘will occur’ or ‘will be achieved’. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company’s exploration activities.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

For further information, please contact:

Ramp Metals Inc.

Jordan BlackChief Executive Officerjordaneblack@rampmetals.com

Prit SinghDirector905 510 7636

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215704

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

You May Also Like

Investing

Newmont (NYSE: NEM) reported mixed financial results even as the price of gold approached its all-time high. In all, the company’s earnings per share...

Investing

Fisker (NYSE: FSR) stock price has been one of the best-performing electric vehicle (EV) stocks this week even as Tesla slumped. The shares jumped...

Investing

NatWest (LON: NWG) share price rose sharply, helped by the strong results from Barclays. The stock jumped to a high of 274.8p, which was...

Investing

The Fox Corporation (NASDAQ: FOX) stock price has been under pressure as investors come to terms with the abrupt firing of Tucker Carlson. The...




Disclaimer: Oldamericanbroker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the-company.


Copyright © 2024 Oldamericanbroker.com