VANCOUVER, BC / ACCESSWIRE / August 23, 2022 / Rockland Resources Ltd. (the "Company" or "Rockland") (CSE:RKL) is pleased to report encouraging assay results on channel samples from lithium-mineralized claystones on the Lithium Butte Property in Juab County, Utah, USA. Channel samples returned a continuous interval of 25.2 metres at 1,388 parts per million ("ppm") lithium ("Li") including 8.0 metres at 2,155 ppm Li, and 0.7 metres at 3,540 ppm Li.
The 4,460 ha (11,020 acre) Lithium Butte Property is located in the Basin and Range geological province of west-central Utah and is interpreted to be highly prospective for lithium (Li) and beryllium (Be) mineralization hosted in claystone volcanic tuff-breccia units.
Twenty-one (21) channel samples were taken from an exposed outcropping of claystone on the Property in July 2022. Fifteen (15) channel samples with lengths from 1.0 to 2.0 m were taken from a single stratigraphic section of claystone exposed beneath the rhyolite cap rock that forms the top of the exposed butte. The total length of the main channel section (15 samples) is 27.0 m. True stratigraphic thickness is estimated at approximately 70% of the channel length. This main channel section returned 25.2 m at 1,388 ppm Li. The lower portion of the mineralized section returned a higher-grade interval of 8.0 m at 2,155 ppm Li. The sampled section represents the upper part of the prospective unit and the mineralization is open at depth. Sample locations are illustrated in Figures 1 and 2.
Additionally, two shorter channel sections, each with 3 channel samples, were taken over the exposed outcrop of the prospective unit, from 15 m northwest and 28 m southeast along strike from the main channel. These shorter sections returned 1,732 ppm Li over 1.25 meters and 1,925 ppm Li over 1.7 meters, respectively. The shorter channels indicate Li claystone mineralization over a strike length of at least 43 m with mineralization being open along strike and below the channels. The southeast channel section contained the highest-grade lithium mineralization in this sampling program with 0.7 m grading 3,540 ppm Li.
Figure 1. Photograph of mineralized outcrop, Lithium Butte Property showing location of channel samples
Figure 2. Rockland Resources Ltd. Lithium Butte Property, Juab County, Utah - Stratigraphic Section showing relative position of channel sample assay results
Dr. Richard Sutcliffe, Rockland's President stated "These channel sample results are an excellent validation of the initial grab sample results from this Project that Rockland reported in June. Importantly, the samples confirm a significant stratigraphic thickness of lithium-rich mineralization on the Property. To advance our exploration program, we have recently established an office in Delta, Utah and are in the process of setting up a facility to provide rapid analysis of rock and soil samples using a Laser Induced Breakdown Spectrometer (LIBS). This technology will allow Rockland to quickly evaluate additional exploration and drill targets. We look forward to developing this program to evaluate regional lithium mineralized claystone targets in the Basin and Range Province of Utah. The Company is currently staking additional claims and we will provide additional Property details once staking has been completed."
Rockland has an initial 90% interest in the original Lithium Butte property (60 claims - 1,200 acres) with the remaining 10% interest held by an arms-length third party. All remaining claims were staked by Rockland and are owned 100% by the Company. There is a 1.5% Net Smelter Royalty ("NSR") payable to the same arms-length third party on both the original Lithium Butte property and all claims being acquired in the area.
Assay Program QA/QC - Channel sampling at Lithium Butte was carried out under the supervision of Dr. Richard Sutcliffe, P. Geo., a Qualified Person as defined in NI43-101. Dr. Sutcliffe is also responsible for reviewing and approving the geological contents of this news release as they pertain to the Lithium Butte Claystone Property.
Samples were couriered in sealed bags to Activation Laboratories ("Actlabs") in Ancaster, Ontario. Actlabs is an independent ISO/IEC 17025 certified laboratory. Li analysis was performed using sodium peroxide fusion and inductively coupled plasma mass spectrometry (ICP-MS).
Cole Gold Mines Property - Rockland is pleased to announce that it has issued 480,769 common shares and paid $100,000 cash in satisfaction of the final option payment to Mr. Greg W. Smith pursuant to the Company's option agreement dated March 29th, 2021 entered into between the Company, Wabassi Resources ULC (Wabassi) and Greg W. Smith, whereby the Company can acquire a 100% interest in the "Cole Gold Mine Property" ("Property"), located in Ball Township, Red Lake Mining District. To acquire 100% interest, Rockland now has a final option payment of $150,000 cash and 1,442,307 shares due to Wabassi. Rockland has recently engaged Mr. Matthew Long, P.Geo., to complete an updated NI43-101 technical report on the Property.
First Phase Capital
The Company has engaged First Phase Capital to provide awareness and IR services to its marketing initiatives for six months. Pursuant to the terms of the First Phase Capital agreement, First Phase will be paid $50,350 in cash plus GST. The scope of the marketing initiatives includes full cycle lead generation & nurturing including paid advertising, email marketing, IR follow up, and lead management. First Phase Capital is a boutique digital growth partner for private and public companies looking to ultimately grow their investor database. First Phase Capital is arm's length to the Company and does not currently own any securities of the Company.
About Rockland Resources Ltd.
Rockland Resources is engaged in the business of mineral exploration and the acquisition of mineral property assets for the benefit of its shareholders. In addition to the Utah Lithium Property, the Company is acquiring the 41,818-hectare Elektra project concessions that are contiguous with Gangfeng Lithium's Sonora Lithium Clay Project located in Sonora, Mexico. The Company also holds an option to earn a 100-per-cent interest in the Cole Gold Mines property, located in Ball township, Red Lake mining division, Ontario. The Cole Gold Mines Property hosts high-grade gold mineralization in a classic Red Lake-type structurally controlled gold deposit environment.
On Behalf of the Board of Directors
Dr. Richard H. Sutcliffe, P.Geo.
President and Director
For further information, please contact:
Mike England
Email: [email protected]
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Rockland Resources Ltd.