Rogue Resources Inc.
Flagship Iron Ore and Nickel Projects in World Class Mining District of Timmins Ontario Rogue Resources Inc. is well positioned to discover and capitalize on world class gold, silver, copper, nickel, zinc, platinum and palladium deposits in North America.
September 09, 2015
Rogue Resources Announces High Grade Silica Strike Length Extended over 100 meters to 1.5 Km, Adds Second Drill to Current Program and Arranges $2.5 M Private Placement
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The Company is also pleased to announce that 12 of the 25 Phase One drill holes, comprising 2,261 meters ("m") have been completed. An additional drill will be onsite shortly and upon arrival will begin drilling the expanded Phase Two drill program. All drilling is expected to be completed prior to the end of November 2015. Drilling is designed to test the extent of Quartzite Unit "G" and the newly discovered "H" Quartzite unit, including their purity, depth, width and the length of extension below surface. Upon receiving all of the assays and compiling the results, an independent firm will be tasked with preparing a NI43-101 compliant resource report and a corresponding Preliminary Economic Assessment ("PEA").
Channel R11 assays recording up to 99.8% Si02 extend the quartzite unit another 100 m east-northeast to a total of 1.5 km east of Channels R6 and R7 located in the same "G" quartzite unit (please see news releases dated August 20, 2015 and September 2, 2015). Newly reported are Channels R4 and R5 located 920 m east-northeast of R7 on the same unit and 540 m west-southwest of Channel R11. The replication of assays averages on the three smaller channel areas located approximately in the middle of the over 1.5 km strike length of the quartzite unit is considered indicative of the continuity of the high purity silica trend that is contained within the "G" quartzite unit.
The newly discovered "H" quartzite unit is pure white, coarse-grained, crystalline, and massive, with no apparent discolouration. Therefore, in response to the high purity SiO2 assays reported on R13, three additional channels, R13B, R13C and R13D, consisting of 39 samples located 31 m west-southwest of channel R13, were delivered to SGS Labs in Québec City.
Assays from Channels R1, R2, R3, and R14 indicate that these samples were taken on the southern edge of the contact with the "H" quartzite, and were located just outside of the quartzite unit.
To view a drill and channel sampling location map click on the link below:
http://www.rogueresources.ca/i/misc/2015-09-02-NR_Drill-Plan.jpg
"It is highly encouraging to have high purity silica assays reported on the east, middle and west ends of the "G" quartzite unit, open on both ends, supporting the continuity of the high purity silica for a strike length of not less than 1.5 km. Additional channel sampling was recently completed on the newly discovered Unit "H" as a direct response of the Unit being very white in colour with no apparent discoloration, and the high silica value assays of R13," commented Company President and CEO, John de Jong. "Adding an additional drill will allow us to complete all of our phase one and two drill programs prior to the end of November. We remain on budget and on target with our drilling and planning for a resource calculation in the New Year."
Channel Sample Results
Channel samples, R1 - R14, consisting of 256 samples totaling 446.7 m of channelling were delivered to SGS Laboratories in Québec City. Assay results for 55 samples over 93.9 m from channels R4, R5 and R11, on the "G" quartzite unit and R1, R2, R3 and R14 on the newly discovered quartzite unit "H" have been received.
Channels R4 and R5 Details:
Table #1 - Channel R4 and R5
Channel 11 Details
Table #2 - Channel R11
Channel R1, R2, and R3 Details:
Table #3A. Additional Channel Location, Length and Sample Units.
Drilling Update:
All 23 drill pads have been prepared to date. Drilling takes place 24 hours per day and both Phase One and Phase Two programs are scheduled to be completed by mid-to-late November. As part of the Company's commitment to preserve the local fauna and forest, remediation of each drill site and access point takes place immediately upon leaving the location and as the project progresses.
Table #4. Diamond Drill Holes Completed to Date, Phase One
Table #5. Planned Drill Holes Yet To Be Drilled, Phase 1
Private Placement
The Company is also pleased to announce it has arranged a non-brokered private placement of non-flow through Units at a price of $0.10 (the "Units") and Québec or National Flow Through Shares at a price of $0.15 (the "FT Shares"), for aggregate gross proceeds of up to $2,500,000 (the "Offering").
Each Unit will consist of one common share and one non-transferable common share purchase warrant. Each warrant forming part of the Unit will entitle the holder to purchase one common share at an exercise price of $0.12 for 24 months. Each FT Share will consist of one common share and no warrant.
The private placement and any modification to it are subject to compliance with applicable securities laws and approval of the TSX Venture Exchange. The Company may pay finders' fees in accordance with the policies of the TSX Venture Exchange.
The shares will be subject to a statutory four month hold period. Final closing date for the offering is anticipated to be on or about October 15, 2015. The Company reserves the right to increase the size of the private placement or to modify the type, nature and/or price of the units for any reason.
The proceeds from the issuance of the FT Shares will qualify as Canadian and/or Québec exploration expenses. Flow through funds received in 2015 will be renounced to investors no later than December 31, 2015. The Company intends to use the net proceeds of the Offering primarily for expenditures on the Company's Lac la de Grosse Femelle Silica Project as well as for general working capital.
Closing of First Tranche
The Company is pleased to announce that, subject to regulatory approval, it has completed the first tranche of its private placement by raising $625,000 through the issuance of 6,250,000 Units. Finder's fees in the amount of $43,750 and 437,500 compensation warrants are payable on this tranche. The shares forming part of the Units are subject to a 4 month hold period expiring January 8, 2016.
Use of Proceeds for the Offering Include
Advancing the Lac de la Grosse Femelle Silica property by completing the 2015 exploration program as outlined in the Company presentation that can be found on its website and initiating the 2016 exploration program including metallurgical testing, further drilling, bulk sampling, resource calculation and PEA.
About Rogue Resources Inc.
With its diverse portfolio of properties, all in good standing, the Company has the ability to focus its efforts and finances on the project that demonstrates the greatest market potential for return. The recent investment of $382 M by the Québec provincial government in Grupo FerroAtlantica, one of the world's largest silicon metal producers, to build a silicon metal plant located near our silica property is a great foundational point to launch this silica rich quartzite property.
The Femelle Project is located approximately 42 km north of Baie-Saint Paul, situated on the St. Lawrence River, and is 4 km northeast of the Mine Sitec silica mine, in operation for over fifty years. Access to the project is via a paved highway and well maintained forestry access roads.
Qualified Person
The Lac de la Grosse Femelle exploration project is under the direct supervision of Eddy Canova, P Geo., and Senior Vice-President of the Company, a Qualified Persons ("QP") as defined by National Instrument 43-101, assisted by Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., Geo. of Geologica Inc., and Dr. Trygve Hoy, P.Eng, PhD, all independent QPs as defined by National Instrument 43-101. The Company's QP has approved the scientific and technical content of this release.
On Behalf of Rogue Resources Inc.
John de Jong
CEO & President
For additional information regarding this news release please contact:
John de Jong
CEO/President
(604) 629-1808
www.rogueresources.ca
john@rogueresources.ca
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
- THREE NEW CHANNEL SAMPLES COLLECTED ON QUARTZITE UNIT "H"
- MINIMUM 1.5 KM STRIKE LENGTH ON QUARTZITE UNIT 'G' CONFIRMED
- MIDDLE CHANNEL RESULTS ON 'G' CONFIRM CONSISTENCY OF HIGH SiO2 PURITY
- 12 OF 25 PHASE ONE DRILL HOLES COMPLETED
- SECOND DRILL TO ARRIVE ON SITE WITHIN A WEEK
- 2,000 METERS ADDED TO PHASE TWO DRILL PROGRAM
The Company is also pleased to announce that 12 of the 25 Phase One drill holes, comprising 2,261 meters ("m") have been completed. An additional drill will be onsite shortly and upon arrival will begin drilling the expanded Phase Two drill program. All drilling is expected to be completed prior to the end of November 2015. Drilling is designed to test the extent of Quartzite Unit "G" and the newly discovered "H" Quartzite unit, including their purity, depth, width and the length of extension below surface. Upon receiving all of the assays and compiling the results, an independent firm will be tasked with preparing a NI43-101 compliant resource report and a corresponding Preliminary Economic Assessment ("PEA").
Channel R11 assays recording up to 99.8% Si02 extend the quartzite unit another 100 m east-northeast to a total of 1.5 km east of Channels R6 and R7 located in the same "G" quartzite unit (please see news releases dated August 20, 2015 and September 2, 2015). Newly reported are Channels R4 and R5 located 920 m east-northeast of R7 on the same unit and 540 m west-southwest of Channel R11. The replication of assays averages on the three smaller channel areas located approximately in the middle of the over 1.5 km strike length of the quartzite unit is considered indicative of the continuity of the high purity silica trend that is contained within the "G" quartzite unit.
The newly discovered "H" quartzite unit is pure white, coarse-grained, crystalline, and massive, with no apparent discolouration. Therefore, in response to the high purity SiO2 assays reported on R13, three additional channels, R13B, R13C and R13D, consisting of 39 samples located 31 m west-southwest of channel R13, were delivered to SGS Labs in Québec City.
Assays from Channels R1, R2, R3, and R14 indicate that these samples were taken on the southern edge of the contact with the "H" quartzite, and were located just outside of the quartzite unit.
To view a drill and channel sampling location map click on the link below:
http://www.rogueresources.ca/i/misc/2015-09-02-NR_Drill-Plan.jpg
"It is highly encouraging to have high purity silica assays reported on the east, middle and west ends of the "G" quartzite unit, open on both ends, supporting the continuity of the high purity silica for a strike length of not less than 1.5 km. Additional channel sampling was recently completed on the newly discovered Unit "H" as a direct response of the Unit being very white in colour with no apparent discoloration, and the high silica value assays of R13," commented Company President and CEO, John de Jong. "Adding an additional drill will allow us to complete all of our phase one and two drill programs prior to the end of November. We remain on budget and on target with our drilling and planning for a resource calculation in the New Year."
Channel Sample Results
Channel samples, R1 - R14, consisting of 256 samples totaling 446.7 m of channelling were delivered to SGS Laboratories in Québec City. Assay results for 55 samples over 93.9 m from channels R4, R5 and R11, on the "G" quartzite unit and R1, R2, R3 and R14 on the newly discovered quartzite unit "H" have been received.
Channels R4 and R5 Details:
- Located in the central portion of "G" quartzite unit at 900 m east-northeast of R7 and 435 m west-southwest of R9
- Seven samples submitted
- Total channel sampling length 11.5 m
- 3.1 m comprising two of seven samples in two sequences returned assays of SiO2 (99.0% to 99.2% SiO2)
- Sequence 1 for Channel R4: 1.5 m
- 1.5 m interval assayed 99.0% SiO2
- Sequence 2 for Channel R5: 1.6 m
- 1.6 m interval assayed 99.2% SiO2
Table #1 - Channel R4 and R5
R4 | 649322 | 0.00 | 2.00 | 2.00 | 1.38 | 0.02 | 0.58 | 0.05 | 0.08 | 0.04 | 98.3 | 0.09 | 0.67 | 101.2 | |
R4 | 649324 | 2.00 | 3.50 | 1.50 | 0.75 | 0.01 | 0.42 | 0.04 | 0.07 | 0.01 | 99.0 | 0.07 | 0.72 | 101.3 | |
R4 | 649326 | 3.50 | 5.00 | 1.50 | 0.78 | 0.02 | 0.38 | 0.03 | 0.08 | 0.02 | 98.2 | 0.05 | 0.41 | 100.0 | |
R4 | 649327 | 5.00 | 6.40 | 1.40 | 1.85 | 0.03 | 0.60 | 0.06 | 0.14 | 0.05 | 96.8 | 0.14 | 0.62 | 100.4 | |
R5 | 649328 | 0.00 | 2.00 | 2.00 | 1.24 | 0.04 | 0.58 | 0.04 | 0.03 | 0.02 | 97.2 | 0.08 | 0.58 | 99.8 | 2.69 |
R5 | 649329 | 2.00 | 3.50 | 1.50 | 1.15 | 0.03 | 0.44 | 0.07 | 0.06 | 0.02 | 98.1 | 0.10 | 0.67 | 100.6 | |
R5 | 649330 | 3.50 | 5.10 | 1.60 | 0.49 | 0.04 | 0.41 | 0.04 | 0.03 | 0.03 | 99.2 | 0.08 | 0.27 | 100.7 |
Channel 11 Details
- Located 1.5 km east-northeast of channel R6 on the main quartzite zone "G"
- Total channel sample length 55.6 m
- 14 of 32 samples returned assays ranging from 99.0% to 99.8% SiO2 over combined width of 23.5 m
- Sequence 1: 36 m
- 2 m interval assayed 99.3% SiO2
- 20 m interval assayed between 99.0% to 99.8% SiO2
- 2 m interval assayed 99.3% SiO2
- Sequence 2: 4.6 m
- 2.0 m interval assayed 99.3% SiO2
- 0.6 m interval assayed 99.1% SiO2
Table #2 - Channel R11
R11 | 649288 | 0.00 | 2.00 | 2.00 | 0.30 | 0.05 | 0.37 | 0.01 | 0.02 | 0.02 | 99.3 | 0.05 | 0.33 | 100.4 | 2.68 |
R11 | 649289 | 2.00 | 4.00 | 2.00 | 0.88 | 0.03 | 0.38 | 0.01 | 0.05 | 0.03 | 98.0 | 0.11 | 0.46 | 100.0 | |
R11 | 649291 | 4.00 | 6.00 | 2.00 | 0.59 | 0.03 | 0.46 | 0.02 | 0.05 | 0.02 | 98.9 | 0.08 | 0.33 | 100.5 | |
R11 | 649292 | 6.00 | 8.00 | 2.00 | 0.75 | 0.04 | 0.53 | 0.02 | 0.06 | 0.04 | 98.2 | 0.08 | 0.36 | 100.1 | |
R11 | 649293 | 8.00 | 10.00 | 2.00 | 0.85 | 0.03 | 0.42 | 0.02 | 0.06 | 0.03 | 98.2 | 0.10 | 0.34 | 100.1 | |
R11 | 649294 | 10.00 | 12.00 | 2.00 | 0.75 | 0.02 | 0.36 | 0.02 | < 0.01 | 0.01 | 99.6 | 0.10 | 0.37 | 101.3 | |
R11 | 649296 | 12.00 | 12.80 | 0.80 | 0.56 | 0.04 | 0.45 | 0.03 | 0.04 | 0.03 | 99.4 | 0.08 | 0.30 | 100.9 | |
R11 | 649297 | 12.80 | 14.00 | 1.20 | 0.63 | 0.03 | 0.34 | 0.02 | 0.02 | 0.02 | 99.1 | 0.09 | 0.39 | 100.6 | |
R11 | 649298 | 14.00 | 16.00 | 2.00 | 1.11 | 0.03 | 0.41 | 0.01 | 0.02 | 0.02 | 99.0 | 0.13 | 0.29 | 101.0 | 2.69 |
R11 | 649299 | 16.00 | 18.00 | 2.00 | 0.38 | 0.03 | 0.29 | 0.02 | 0.04 | 0.03 | 99.2 | 0.04 | 0.19 | 100.2 | |
R11 | 649300 | 18.00 | 20.00 | 2.00 | 0.23 | 0.03 | 0.34 | 0.03 | 0.02 | 0.03 | 99.4 | 0.04 | 0.21 | 100.3 | |
R11 | 649301 | 20.00 | 22.00 | 2.00 | 0.34 | 0.04 | 0.39 | 0.02 | 0.05 | 0.03 | 98.8 | 0.06 | 0.24 | 100.0 | |
R11 | 649302 | 22.00 | 24.00 | 2.00 | 0.32 | 0.02 | 0.35 | 0.02 | 0.02 | 0.02 | 99.4 | 0.07 | 0.29 | 100.5 | |
R11 | 649303 | 24.00 | 26.00 | 2.00 | 0.41 | 0.05 | 0.61 | 0.02 | 0.02 | 0.01 | 100.0 | 0.04 | 0.14 | 101.3 | |
R11 | 649304 | 26.00 | 28.00 | 2.00 | 0.40 | 0.03 | 0.34 | 0.01 | 0.03 | < 0.01 | 99.8 | 0.05 | 0.20 | 100.9 | |
R11 | 649305 | 28.00 | 30.00 | 2.00 | 0.46 | 0.03 | 0.37 | 0.01 | 0.04 | 0.02 | 99.5 | 0.05 | 0.27 | 100.7 | |
R11 | 649306 | 30.00 | 32.00 | 2.00 | 0.54 | 0.02 | 0.32 | 0.02 | 0.04 | 0.03 | 97.9 | 0.05 | 0.44 | 99.3 | |
R11 | 649307 | 32.00 | 34.00 | 2.00 | 0.66 | 0.03 | 0.31 | 0.02 | 0.03 | 0.02 | 98.8 | 0.06 | 0.37 | 100.3 | |
R11 | 649308 | 34.00 | 36.00 | 2.00 | 0.58 | 0.04 | 0.42 | 0.02 | 0.04 | 0.03 | 99.3 | 0.05 | 0.36 | 100.9 | 2.69 |
R11 | 649309 | 36.00 | 37.00 | 1.00 | 0.89 | 0.01 | 0.43 | 0.02 | 0.02 | 0.02 | 98.8 | 0.06 | 0.36 | 100.6 | |
R11 | 649310 | 37.00 | 38.00 | 1.00 | 0.74 | 0.03 | 0.40 | 0.04 | 0.05 | 0.02 | 98.6 | 0.05 | 0.24 | 100.2 | |
R11 | 649311 | 38.00 | 40.00 | 2.00 | 1.00 | 0.02 | 0.40 | 0.06 | 0.05 | 0.03 | 98.7 | 0.07 | 0.34 | 100.7 | |
R11 | 649312 | 40.00 | 42.00 | 2.00 | 0.69 | 0.05 | 0.49 | 0.02 | 0.06 | 0.03 | 98.4 | 0.10 | 0.30 | 100.2 | |
R11 | 649313 | 42.00 | 43.50 | 1.50 | 0.62 | 0.02 | 0.41 | 0.05 | 0.04 | 0.02 | 98.9 | 0.06 | 0.37 | 100.5 | |
R11 | 649314 | 43.50 | 45.50 | 2.00 | 0.48 | 0.04 | 0.37 | 0.03 | 0.04 | 0.02 | 98.7 | 0.07 | 0.23 | 100.1 | |
R11 | 649315 | 45.50 | 47.50 | 2.00 | 0.43 | 0.02 | 0.33 | 0.03 | 0.04 | 0.02 | 98.6 | 0.05 | 0.23 | 99.8 | |
R11 | 649316 | 47.50 | 49.50 | 2.00 | 0.68 | 0.03 | 0.43 | 0.05 | 0.06 | 0.02 | 98.8 | 0.07 | 0.37 | 100.6 | |
R11 | 649317 | 49.50 | 51.00 | 1.50 | 0.88 | 0.03 | 0.56 | 0.09 | 0.07 | 0.03 | 98.4 | 0.11 | 0.26 | 100.5 | |
R11 | 649318 | 51.00 | 52.50 | 1.50 | 0.85 | 0.02 | 0.60 | 0.06 | 0.06 | 0.05 | 99.3 | 0.07 | 0.41 | 101.5 | 2.69 |
R11 | 649319 | 52.50 | 53.80 | 1.30 | 1.00 | 0.04 | 0.67 | 0.17 | 0.12 | 0.04 | 98.0 | 0.11 | 0.37 | 100.5 | |
R11 | 649320 | 53.80 | 55.00 | 1.20 | 10.2 | 0.03 | 5.44 | 2.07 | 0.30 | 0.16 | 82.0 | 0.59 | 0.26 | 101.1 | |
R11 | 649321 | 55.00 | 55.60 | 0.60 | 0.50 | 0.03 | 0.78 | 0.07 | 0.07 | 0.04 | 99.1 | 0.08 | 0.32 | 101.0 |
Channel R1, R2, and R3 Details:
- Located on the southern edge of the newly discovered quartzite "H"
- The assays indicate that the samples collected in these channels were located in the para gneisses on the southern edge of the quartzite zone "H"; therefore are considered to be outside the quartzite unit
- Channel sample lengths were 4.2 m, 8.7 m and 4 m in length, respectively
- Located on the southern edge of the newly discovered quartzite "H"
- Samples collected are in the para gneisses at the southern edge of the contact and are therefore considered to be outside the quartzite unit
R1 | 381436 | 5294631 | 956 | 4.2 | 3 | 10/07/2015 |
R2 | 381448 | 5294624 | 959 | 8.7 | 5 | 10/07/2015 |
R3 | 381455 | 5294633 | 959 | 4 | 3 | 10/07/2015 |
R4 | 381561 | 5294413 | 961 | 6.4 | 4 | 10/07/2015 |
R5 | 381571 | 5294435 | 957 | 5.1 | 3 | 10/07/2015 |
R6 | 380722 | 5293947 | 916 | 72.8 | 40 | 01/07/2015 |
R7 | 380761 | 5293948 | 916 | 123.7 | 70 | 25/06/2015 |
R8 | 380850 | 5293964 | 929 | 86.3 | 47 | 06/07/2015 |
R9 | 381930 | 5294655 | 923 | 34 | 21 | 09/07/2015 |
R10 | 381979 | 5294695 | 920 | 10 | 6 | 09/07/2015 |
R11 | 382020 | 5294714 | 927 | 55.6 | 32 | 09/07/2015 |
R12 | 381347 | 5294607 | 949 | 5.3 | 5 | 07/07/2015 |
R13 | 381349 | 5294653 | 947 | 20.7 | 12 | 07/07/2015 |
R14 | 381448 | 5294624 | 959 | 9.9 | 5 | 10/07/2015 |
Total | 14 | 446.7 | 256 |
Table #3A. Additional Channel Location, Length and Sample Units.
R13B | 381334 | 5294624 | 952 | 50.5 | 32 | 02/09/2015 |
R13C | 381324 | 5294654 | 954 | 9.3 | 5 | 02/09/2015 |
R13D | 381350 | 5294628 | 954 | 4 | 2 | 02/09/2015 |
Total | 3 | 63.8 | 39 |
Drilling Update:
All 23 drill pads have been prepared to date. Drilling takes place 24 hours per day and both Phase One and Phase Two programs are scheduled to be completed by mid-to-late November. As part of the Company's commitment to preserve the local fauna and forest, remediation of each drill site and access point takes place immediately upon leaving the location and as the project progresses.
Table #4. Diamond Drill Holes Completed to Date, Phase One
Zone E | |||||||||||
GF15-1 | A1 | 380728 | 5293932 | 898 | 5+55W | 100S | 330 | -45 | 177 | Q-E | 08/08/2015 |
GF15-2 | A2 | 380790 | 5293948 | 917 | 5+00W | 80S | 330 | -45 | 171 | Q-E | 10/08/2015 |
GF15-3 | A3 | 380790 | 5293948 | 917 | 5+00W | 80S | 330 | -60 | 261 | Q-E | 12/08/2015 |
GF15-5 | A5 | 380728 | 5294025 | 966 | 5+00W | 25N | 150 | -45 | 135 | Q-E | 18/08/2015 |
GF15-6 | A6 | 380777 | 5294048 | 980 | 4+50W | 15N | 150 | -45 | 150 | Q-E | 20/08/2015 |
GF15-7 | A7 | 380777 | 5294048 | 980 | 4+50W | 15N | 150 | -65 | 183 | Q-E | 22/08/2015 |
GF15-8 | A8 | 380819 | 5294067 | 966 | 4+00W | 15N | 150 | -45 | 165 | Q-E | 25/08/2015 |
GF15-9 | A9 | 380910 | 5294116 | 977 | 3+00W | 8N | 150 | -45 | 147 | Q-E | 27/08/2015 |
GF15-10 | A10 | 380893 | 5294147 | 977 | 3+00W | 43N | 150 | -45 | 185 | Q-E | 29/08/2015 |
GF15-11 | A11 | 380975 | 5294201 | 972 | 2+00W | 30N | 150 | -45 | 180 | Q-E | 01/09/2015 |
GF15-12 | A12 | 381068 | 5294246 | 978 | 1+00W | 50N | 150 | -45 | 198 | Q-E | 03/09/2015 |
GF15-13 | A13 | 381154 | 5294293 | 978 | 0+00W | 50N | 150 | -45 | 180 | Q-E | 05/09/2015 |
Zone H Extension | |||||||||||
GF15-4 | A4 | 381272 | 5294713 | 936 | 3+00E | 361N | 150 | -45 | 129 | Q-H | 15/08/2015 |
Total Drilled | 13 | 2261 |
Table #5. Planned Drill Holes Yet To Be Drilled, Phase 1
Zone H Extension | ||||||||||
L1E-7DDH | E | 381077 | 5294648 | 937 | 1+00E | 398N | 150 | -45 | 160 | Q-H |
L2E-5DDH | F | 381179 | 5294669 | 935 | 2+00E | 392N | 150 | -45 | 160 | Q-H |
L4E-3DDH | H | 381374 | 5294728 | 933 | 4+00E | 325N | 150 | -45 | 140 | Q-H |
L5E-8DDH | I | 381476 | 5294751 | 934 | 5+00E | 298N | 150 | -45 | 180 | Q-H |
Zone G | ||||||||||
L4E-2DDH | 6 | 381526 | 5294450 | 980 | 4+00E | 15N | 150 | -45 | 150 | Q-G |
L5E-16DDH | 7 | 381609 | 5294514 | 971 | 5+00E | 25N | 150 | -45 | 105 | Q-G |
L6E-17DDH | 8 | 381687 | 5294575 | 964 | 6+00E | 43N | 150 | -45 | 120 | Q-G |
L7E-18DDH | 9 | 381777 | 5294614 | 942 | 7+00E | 32N | 150 | -45 | 100 | Q-G |
L8E-19DDH | A | 381856 | 5294683 | 960 | 8+00E | 60N | 150 | -45 | 120 | Q-G |
L9E-13DDH | B | 381927 | 5294746 | 954 | 9+00E | 72N | 150 | -45 | 160 | Q-G |
L10E-14DDH | C | 382017 | 5294808 | 934 | 10+00E | 100N | 150 | -45 | 160 | Q-G |
L11E-20DDH | D | 382107 | 5294854 | 900 | 11+00E | 90N | 150 | -45 | 155 | Q-G |
Total Planned | 12 | 1710 |
Private Placement
The Company is also pleased to announce it has arranged a non-brokered private placement of non-flow through Units at a price of $0.10 (the "Units") and Québec or National Flow Through Shares at a price of $0.15 (the "FT Shares"), for aggregate gross proceeds of up to $2,500,000 (the "Offering").
Each Unit will consist of one common share and one non-transferable common share purchase warrant. Each warrant forming part of the Unit will entitle the holder to purchase one common share at an exercise price of $0.12 for 24 months. Each FT Share will consist of one common share and no warrant.
The private placement and any modification to it are subject to compliance with applicable securities laws and approval of the TSX Venture Exchange. The Company may pay finders' fees in accordance with the policies of the TSX Venture Exchange.
The shares will be subject to a statutory four month hold period. Final closing date for the offering is anticipated to be on or about October 15, 2015. The Company reserves the right to increase the size of the private placement or to modify the type, nature and/or price of the units for any reason.
The proceeds from the issuance of the FT Shares will qualify as Canadian and/or Québec exploration expenses. Flow through funds received in 2015 will be renounced to investors no later than December 31, 2015. The Company intends to use the net proceeds of the Offering primarily for expenditures on the Company's Lac la de Grosse Femelle Silica Project as well as for general working capital.
Closing of First Tranche
The Company is pleased to announce that, subject to regulatory approval, it has completed the first tranche of its private placement by raising $625,000 through the issuance of 6,250,000 Units. Finder's fees in the amount of $43,750 and 437,500 compensation warrants are payable on this tranche. The shares forming part of the Units are subject to a 4 month hold period expiring January 8, 2016.
Use of Proceeds for the Offering Include
Advancing the Lac de la Grosse Femelle Silica property by completing the 2015 exploration program as outlined in the Company presentation that can be found on its website and initiating the 2016 exploration program including metallurgical testing, further drilling, bulk sampling, resource calculation and PEA.
About Rogue Resources Inc.
With its diverse portfolio of properties, all in good standing, the Company has the ability to focus its efforts and finances on the project that demonstrates the greatest market potential for return. The recent investment of $382 M by the Québec provincial government in Grupo FerroAtlantica, one of the world's largest silicon metal producers, to build a silicon metal plant located near our silica property is a great foundational point to launch this silica rich quartzite property.
The Femelle Project is located approximately 42 km north of Baie-Saint Paul, situated on the St. Lawrence River, and is 4 km northeast of the Mine Sitec silica mine, in operation for over fifty years. Access to the project is via a paved highway and well maintained forestry access roads.
Qualified Person
The Lac de la Grosse Femelle exploration project is under the direct supervision of Eddy Canova, P Geo., and Senior Vice-President of the Company, a Qualified Persons ("QP") as defined by National Instrument 43-101, assisted by Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., Geo. of Geologica Inc., and Dr. Trygve Hoy, P.Eng, PhD, all independent QPs as defined by National Instrument 43-101. The Company's QP has approved the scientific and technical content of this release.
On Behalf of Rogue Resources Inc.
John de Jong
CEO & President
For additional information regarding this news release please contact:
John de Jong
CEO/President
(604) 629-1808
www.rogueresources.ca
john@rogueresources.ca
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ron4n
City
Rank
President
Activity Points
4542
Rating
Your Rating
Date Joined
05/14/2008
Rogue Resources Inc.
Symbol
RRS
Exchange
TSX-V
Shares
17,456,989 common shares
Industry
Metals & Minerals
Website