Vancouver, BC, February 16, 2016 -- Roughrider Exploration Limited (TSX-V: REL) ("Roughrider") and Kivalliq Energy Corporation (TSX-V: KIV) ("Kivalliq") -- today announced results of an integrated assessment of geophysical, geological and geochemical data from select areas of interest at the Genesis uranium property in northeast Saskatchewan. The work was undertaken by Condor Consulting Inc. ("Condor"), recognized experts in the field of integrated exploration.
Roughrider's Vice President of Exploration, David Tupper, reports that "the work by Condor provides a technically sound focus for ongoing exploration at the Genesis property. This work adds significant drill targeting information to the Genesis project through its integrated and systematic interpretation of the broad range of data we have compiled to date."
The compilation and interpretation carried out by Condor focussed on four areas in the northeast portion of the Genesis property: Jurgen, Daniel's Bay, Kingston-Johnston-GAP and Melnick. Within these four areas, thirty-one individual target zones have been identified, of which sixteen will be evaluated as part of the FALCON airborne gravity gradiometer survey currently underway (see news release February 1, 2016). Four of Condor's highest priority target zones that fall within the gravity survey area are:
- Jurgen (J-TZ1): Electromagnetic (EM) conductors are spatially associated with an elevated radiometric response and an anomalous boulder sample result (1.41% U3O8; reported December 1, 2014). The Jurgen area remains the most prospective on the property, hosting 12 of the 31 target zones, including J-TZ2 (Jurgen 2) and J-TZ3 (Jurgen 1);
- Kingston (K-TZ1): EM conductors trend along a regional geologic contact that is also coincident with a magnetic low, and lake sediments having anomalous uranium and several anomalous radiometric responses;
- Daniels Bay (DB-TZ1): Enzyme leach soil and rock geochemical anomalies are spatially associated with medium to strong northeast to east-west trending EM conductors and a magnetic domain boundary;
- Melnick (M-TZ1): A north-south strike-slip fault intersects a conductive contact along the boundary of a low magnetic response, coincident with a trend of uranium in lake sediments.
For a map showing Condor's compilation, target zones, and the location of FALCON airborne gravity grids please visit http://bit.ly/InterpFeb16
In its assessment of the Jurgen, Kingston/Johnston/GAP, Daniel's Bay and Melnick areas, Condor conducted comprehensive processing and analysis of airborne surveys flown over Genesis in 2006, 2007 and 2014 (VTEM by Geotech and magnetics, DIGHEM EM, radiometrics by Fugro). Multiple other data sets that include recent and historic radiometric, soil, vegetation and boulder sampling were also incorporated in the interpretation. Condor's work resulted in a detailed "GeoInterp" which will be used for future geological and structural interpretation.
Exploration conducted on the Genesis Property during 2014 and 2015 by Roughrider and Kivalliq has successfully demonstrated the existence of numerous high priority targets for basement hosted uranium in the previously under-explored terrain to the east of the Athabasca Basin. The companies plan to continue refining and upgrading existing targets while still seeking new ones throughout this large landholding.
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 has the option to earn an 85% interest in Genesis from Kivalliq Energy Corporation.
For further information, please contact: Scott Gibson
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.