On June 15th, Rockland Minerals Corp. (TSX VENTURE:RL) announced that it has vested its 55% interest in the Schefferville Gold Property, under the September 29th, 2010 Option and Joint Venture Agreement with Western Troy Capital Resources Inc. (TSX VENTURE:WRY). Under the option agreement, Rockland acquired its 55% interest in the Property by completing $800,000 in exploration work, including a 1,525 meter drilling program last Sept-Oct and a detailed Heli-Mag survey in May. Rockland has also made cash payments totaling $60,000 and has issued 600,000 common shares to complete the earn-in.
The option agreement covers 199 claims staked over known gold showings originally discovered in the mid-1980's by Québec government geologists. They cover the highly prospective Arséne-Baleine Rouge and Rusty Acres areas and many claims contiguous and intermingled with Rockland's Ashuanipi gold claims, optioned from E.D. Black, where Rockland is earning a 100% interest.
During the fall of 2010, Rockland completed a 1,525 meter diamond drilling program on the Schefferville Gold Property. Highlights from the drill program included 8.25 metres of 1.24 grams per tonne gold (including 1.20 m of 6.63 g/t au) and 12.55 metres of 1.04 grams per tonne gold (including 1.10 m of 9.02 g/t au). These results, along with Western Troy's 2009 drilling, (in particular hole WT09-04 which encountered 5.56 grams per tonne gold over a core length of 7.11 metres in the Baleine Rouge Central zone), confirm the presence of broad zones of near-surface disseminated gold mineralization. All Schefferville Gold Project information can be reviewed at www.rocklandminerals.ca.
In early 2011, Rockland began the work of compiling past exploration data on the property to help project and follow the broad zones of anomalous gold values defined in the fall 2010 drilling, and find more of the high grade gold occurrences known to occur within these disseminated gold zones. In May, Rockland launched a detailed, low-altitude, helicopter-borne magnetic survey over the Arséne and Rusty Acres zones flown by Novatem Inc of Mont-Saint-Hilaire QC. Results of the heli-mag survey will be released as soon as the data has been interpreted, and the Company will announce its next phase of exploration soon.
George F. Sanders, P.Geo, a director of the Company, and the Qualified Person under National Instrument 43-101 responsible for the technical content of this news release, states: "Drilling by Rockland has demonstrated the presence of multiple, broad gold zones extending from the Arséne to the Baleine Rouge drilling areas - a N-S distance of more than 1.2 kilometers - containing a number of higher-grade 'sweet spots'. The focus will be on the gold zones in the Arséne-Baleine Rouge area, and on the numerous plus-1-gram surface gold anomalies the Rusty Acres area which have never been drilled."
Rav Mlait, President of Rockland states, "Completing our earn-in has helped us consolidate the numerous gold occurrences in Schefferville gold area. Rockland will continue building on the very encouraging gold drill results to date."
Team Picture
Drilling Camp Rockland's Retty Lake Cu-Ni-PGM Property, Labrador Trough, Quebec June 2011
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