Vancouver, BC, February 02, 2015 - Roughrider Exploration Limited (TSX-V: REL) ("Roughrider") is pleased to announce that planning is complete for the fully funded winter drill targeting program at the Jurgen 1 and Jurgen 2 areas located in the western portion of the Genesis property near Wollaston Lake, east of the Athabasca Basin, Saskatchewan, Canada.
The Jurgen 1 and 2 uranium targets are located at the far eastern end of the Collins Bay -- Eagle Point lithostructural corridor, and across the Wollaston Lake from Cameco's Eagle Point uranium mine. The graphitic pelite, arkose, and calc-silicate rocks in the area are cross-cut by several north trending Tabbernor faults. Attention was drawn to the area by anomalous lake sediment samples and a series of linear NE trending airborne EM geophysical conductors assumed to represent graphitic horizons in pelitic rocks.
The summer 2014 exploration program included the establishment of preliminary soil grids overlying EM conductors at Jurgen 1 and Jurgen 2 (previously reported; news release December 1, 2014). Enzyme leach analysis of the soils revealed a number of uranium in soil results at or above the 95th percentile proximal to the EM conductors, indicating a strong potential drill target for uranium testing. The anomalous sections of the conductors occur on land and would be amenable to either winter or summer drilling.
In order to complete drill targeting, ground VLF-EM and magnetic geophysical surveys and biogeochemical sampling will be carried out on grids emplaced to cover the geochemically anomalous portions of the Jurgen 1 and Jurgen 2 conductors highlighted by the 2014 summer program at Genesis. A program of roughly 80 line-km of grid geophysics and collection of 550 biogeochemical samples at Jurgen 1 and 2 has been designed to best enable final drill targeting. The program is scheduled to be completed in March.
Scott Gibson, Roughrider's CEO commented that "we're excited to be moving the targets at Jurgen to the next level, setting the stage for an initial drill test at the first of several uranium exploration targets on the Genesis property. Most of our targets in the region have never been drilled and we are hopeful Roughrider's ongoing exploration will bring market focus to this highly prospective but underexplored area east of the Athabasca basin."
About Roughrider Exploration Limited
Roughrider's focus is the 200,677 hectare (495,883 acre) Genesis uranium property located in the Wollaston-Mudjatik trend extending northeast from Saskatchewan's Athabasca Basin. Roughrider can earn an 85% interest in Genesis from Kivalliq Energy Corporation. The results of the 2014 work program are available in Roughrider's News Release dated December 1, 2014.
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.
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.
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This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. 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 and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.