Roughrider Exploration Limited ("Roughrider") is pleased to present the first set of results from the 2014 Phase 1 field exploration work completed in September on its Genesis Uranium Property in northeast Saskatchewan. Pursuant to an option agreement between Roughrider and Kivalliq Energy Corporation ("Kivalliq"), Roughrider may acquire up to an 85% interest in the Genesis Project (see Roughrider news release dated July 16, 2014). Roughrider is currently funding exploration of the 198,763 hectare Genesis Property located along the Wollaston-Mudjatik trend extending northeast from Saskatchewan's Athabasca Basin.
"We are encouraged by the preliminary results from the summer exploration program," stated Scott Gibson, CEO of Roughrider. "Our goal is to define and refine drill targets. Athabasca basement rocks have historically provided exceptional targets in other areas surrounding the basin. Roughrider and Kivalliq anticipate providing a compilation of results across several target areas in the coming weeks."
Roughrider and Kivalliq are currently analyzing the large amount of data being received (5,984 line km airborne geophysics, 291 lake sediment samples, 1,351 soil samples and 161 biogeochemical samples) with the goal of advancing a number of uranium targets for drill testing.
Roughrider has received results from the preliminary biogeochemical sampling (spruce boughs) at the Sava Lake priority area combined with the airborne electromagnetic (EM) survey data. At Sava Lake, up to 1.4 kilometres of a newly mapped EM conductor has been highlighted by coincident biogeochemical anomalies in uranium, molybdenum, lead, antimony and rare earth elements (REE's). The Sava Lake area is also highlighted by anomalous regional lake sediment samples (up to 91.6 ppm U; GSC 064L77-1906).
Biogeochemical sampling was attempted in the Sava Lake area as an alternative to conventional soil sampling due to the area being largely overlain by boulder-filled swampy muskeg. The results are considered typical for biogeochemical sampling, with results ranging between: <1 to 8 ppb U, (background of 2 ppb U), 8 and 948 ppb Mo, 5 and 450 ppb Pb, and 1 and 66 ppb Sb. Expansion of the biogeochemical sampling grid is being investigated (currently a total of 68 samples and 3 duplicates collected on four, 300m to 600m spaced lines;).
David 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.
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For Further Information, please contact:
Scott Gibson Chief Executive Officer 604 697-0028
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