Vancouver, BC -- Roughrider Exploration Limited (TSX V: REL) ("Roughrider") and Kivalliq Energy Corporation (TSX V: KIV) (Kivalliq) today announced the results from the ground magnetometer and very low frequency (VLF) electromagnetic (EM) geophysical and biogeochemical sampling surveys completed March 30, 2015 at the Jurgen 1 and Jurgen 2 targets. The Jurgen 1 and Jurgen 2 uranium target areas are located in the western portion of the Genesis property on Wellbelove Bay of Wollaston Lake, eastern Athabasca, approximately 60 kilometres along the Wollaston-Mudjatik lithostructural corridor from Cameco Corporation's Eagle Point uranium mine.
The Jurgen 1 and Jurgen 2 ground geophysical and biogeochemical grids for the Genesis 2015 winter exploration program were designed to follow-up and tighten spacing on anomalous 2014 soil geochemical results coincident with northeast trending airborne EM geophysical conductors. In the Athabasca region, EM conductors often represent graphitic horizons in pelitic rocks that are a common host for uranium mineralization. Breaks in the general EM and magnetic trends in conjunction with elevated geochemistry may indicate structural disturbances that can be important to uranium mineralization emplacement.
Dave Tupper, V.P. of Exploration commented, "The spring work program has further solidified our confidence in the Jurgen 1 and Jurgen 2 areas as potential drill targets. We are also pleased with the effectiveness of biogeochemistry, combined with ground mag and VLF geophysical surveys, as tools to help in the continuing advancement of these targets on the Genesis Property."
Ground magnetic and VLF-EM surveys were performed on two grids over the Jurgen 1 and Jurgen 2 areas during March. Approximately 70 line kilometres of ground geophysics covered geochemically anomalous areas coincident with priority airborne EM conductors. Grid lines were spaced 50 and 100 metres apart, with readings taken at 12.5 and 20 metre intervals. A total of 594 biogeochemical samples (black spruce twigs) were collected on the same survey grids at 25 to 50 metre intervals.
Approximately three kilometres separate the Jurgen 1 and Jurgen 2 grids, which are located roughly 80 kilometres northeast of Points North (see figures provided at http://bit.ly/RRJur1a and http://bit.ly/RRJur2a; additional details of these two priority areas are provided below and in a news release dated March 31, 2015).
Jurgen 1 remains a compelling target demonstrating good spatial correlation between:
1) the highest uranium results from the 2015 biogeochemical program;
2) the highest uranium results from the 2014 enzyme leach soil sampling program (see news release December 1, 2014); and
3) the main Jurgen 1 EM conductive trend.
At Jurgen 1, eight of 249 samples returned values above the 98th percentile for uranium and twenty-one samples returned values above the 95th percentile. The three highest uranium values from the 2015 program were from samples coincident with the main Jurgen 1 conductor; 1.35ppm U, 1.64ppm U and 1.75ppm U. At Jurgen 2, eight of 296 biogeochemical samples returned values above the 95th percentile for uranium. The highest uranium value on the Jurgen 2 grid was 1.26ppm U.
Biogeochemistry results at the Jurgen 1 and Jurgen 2 grid areas also show anomalous associated metals (Pb, Ni, Cu, Mo, Ag) although their distributions are not conclusive. Anomalous Ni and Pb values accompany anomalous U values in places, and in the case of Ni at Jurgen 1, appear to flank the south contact of the main Jurgen 1 EM conductor. At Jurgen 2, the VLF-EM survey suggests a possible structural feature that disrupts the EM conductors mapped. Biogeochemical results for uranium at Jurgen 2 show a more subtle correlation to both the 2014 enzyme leach soil sample results and the airborne EM conductors targeted, but seem to extend to the Jurgen 1 conductor that passes through the south portion of the grid.
At the Sava Lake prospect, approximately 25 kilometres east of Jurgen 2, anomalies in uranium and pathfinder elements were identified in reconnaissance level biogeochemical sampling; however, based on sampling completed to date, the anomalies at Sava Lake lack the cohesion to warrant immediate follow-up.
A summary of the 2015 biogeochemical sampling program is shown below in Table 1.
Table 1. Summary of 2015 Biogeochemical Results
|Jurgen 1||Jurgen 2||Sava Lake|
|Minimum U Value (ppm U)||0.155||0.128||0.212|
|Maximum U Value (ppm U)||1.75||1.26||0.654|
|Samples >0.59 ppm U (background threshold)||92||52||4|
|Samples >0.93 ppm U (95th percentile)||21||8||0|
|Samples >1.07 ppm U (98th percentile)||8||3||0|
A summary of the 2015 ground geophysical surveying program is shown below in Table 2.
Table 2. Summary of 2015 Ground Geophysical Survey
|Jurgen 1||Jurgen 2|
|Grid Orientation (degrees azimuth)||145||150|
|Line Spacing (m)||50 - 100||50 - 100|
|Station Intervals (m)||12.5||20.0|
Geophysical data review was provided by in3D Geophysics Ltd. and SJ Geophysics Ltd. The VLF-EM survey instrumentation was on board the GEM GSM-19 magnetometer units and collected data from transmission stations at Jim Creek (Seattle), Washington transmitting at 24.8 kHz and Cutler, Maine transmitting at 24.0 kHz.
Genesis Property biogeochemical samples were sent to Activation Laboratories Ltd. (Actlabs), which is accredited to international quality standards through the International Organization for Standardization/International Electrotechnical Commission (ISO/IEC) 17025 (ISO/IEC 17025 includes ISO 9001 and ISO 9002 specifications) with CAN-P-1578 (Forensics), CAN-P-1579 (Mineral Analysis) and CAN-P-1585 (Environmental) for specific registered tests by the SCC. After a thorough review of biogeochemical analysis methods, Roughrider and Kivalliq elected to use the "ashed vegetation" 59 element ICP/MS bio-geochemical analysis method reported herein rather than the "un-ashed vegetation" 63 element ICP/MS bio-geochemical analysis method used in 2014. Consequently, results from 2015 are reported in parts per million (ppm) rather than parts per billion (ppb) as reported in 2014. Biogeochemical samples were dried and the needles were removed from the black spruce twigs before the twigs were ashed for ICP-MS analysis. A QA/QC review of geochemical results was undertaken; standards, field blanks and duplicates from the field, and those inserted by the Actlabs as controls, were reviewed graphically for a number of elements. All QA/QC results were within expectations. Percentiles are calculated on the entire 594 sample population from all three sample grid areas.
David W. Tupper, P.Geo., V.P. of Exploration and a Qualified Person under National Instrument 43‐101 has reviewed and approved the technical information contained in this release.
About Roughrider Exploration Limited
Roughrider's focus is exploring the 200,677 hectare (495,883 acre) Genesis uranium project located in the Wollaston-Mudjatik geological trend extending northeast from Saskatchewan's Athabasca Basin. Roughrider can earn an 85% interest in Genesis from Kivalliq Energy Corporation (KIV-V). The results of the 2014 summer work program are available in a news release dated December 1, 2014.
For further information, please contact:
Chief Executive Officer
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by the company, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.