Rimrock Gold Corp. Receives Drill Core and Defines New Ore Target at Silver Cloud Gold-Silver Property in Nevada
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Sep 24, 2013 (Al Bawaba Business via COMTEX) — Rimrock Gold Corp., a Nevada corporation, (the “Company”) (OTCQB: RMRK) is pleased to announce that it has received the Silver Cloud project drill core from Geologix Explorations. Silver Cloud is an advanced-stage epithermal bonanza gold-silver property (“Silver Cloud Property”). Rimrock Gold Corp. holds a 100% interest in the Silver Cloud Property, subject to existing third party NSR royalties. More than $2.4 million in exploration expenditures have been made on Silver Cloud since 2003. Prior to that, Placer Amex, Newmont, Teck, and Placer Dome conducted significant exploration on the Silver Cloud Property as well.
Rimrock Gold will study the newly-acquired Silver Cloud drill core in an effort to develop new drill targets for potential gold-silver development at Silver Cloud. Geologix’ latest two drillholes at Silver Cloud encountered several zones of gold mineralization, and previous drilling by Placer Dome and Teck encountered local zones of very high-grade gold mineralization.
After an initial study of the Company’s new database including previous exploration campaigns conducted on the Silver Cloud Property, has led to the discovery of a fourth, possibly significant new target extension of one of the southernmost vein systems occurring directly on the Hollister Mine property. This is located in the northeast corner of the Silver Cloud property. The Company now will conduct further research on this target zone in advance of possible drilling in 2014.
The 12,880 acre Silver Cloud Property lies immediately to the southwest of Waterton Global Mining’s epithermal bonanza gold-silver Hollister Mine, and 3.8 Km southwest of the Hollister Mine open pit. The Silver Cloud Property also lies 16 Km southeast of Newmont’s Midas Mine, which is currently producing gold and silver from high-grade volcanic epithermal veins, and has produced approximately 4.0 million ounces of gold to-date.
The main gold-silver targets at the Silver Cloud Property are Midas-Hollister style volcanic epithermal low-sulfidation vein and disseminated gold deposits, which appear to be situated along or near fault zones. Mercury occurrences are present locally in and near these siliceous sinters, and are interpreted to be locally indicative of gold mineralization at further depth as at Hollister. At least four gold target areas have been discovered by rock chip sampling, mapping and drilling to date on the Silver Cloud Property: 1) the “Mine” target at the Silver Cloud Mine discovered by Teck, where a drilled hole carried a 1.5 meter (5 feet) intercept grading 157 g/t Au at a depth of 318 meters below surface, 2) the “Egg Hill” target area initially discovered by Placer Dome and further explored by Geologix, where up to 12.2 metres of 5.53 g/t Au, 3) the Quiver target area explored by Newmont, and 4) the newly discovered Hollister South target mentioned above.
The Silver Cloud Property also lies directly astride the prolific Carlin Trend break that boasts numerous giant world-class sediment-hosted gold deposits. This is a highly favorable environment for Carlin-style gold deposits found at the Gold Acres and Getchell mines owned by Barrick Gold Corp. Silver Cloud may have Carlin-style gold potential at depth. “Rimrock Gold intends to commence a new drilling campaign on the Silver Cloud property after final interpretations have been made. In addition, the Company’s focus at present is to continue to acquire significant land position prior to the anticipation of favorable exploration and drilling results especially after the LOI entered into between Newmont Mining and Waterton Global Resources Management for the sale of the Midas Mine,” stated President and CEO, Jordan Starkman.
Rimrock Gold is a diversified mineral exploration company focused on identifying, acquiring, advancing, and drilling high-grade gold-silver exploration projects in Nevada, and lithium exploration projects in Quebec. The company has a very capable management team, and is led by an experienced and successful board. The Company’s main exploration assets comprise a 100% interest in the Rimrock, West Silver Cloud, Silver Cloud, and Pony Spur gold-silver projects in Nevada. In addition, the company owns the Abigail, Lac Kame and EM-1 lithium projects in the James Bay region of Quebec, Canada totaling 11,360 hectares. For further information and technical data on Rimrock Gold’s various projects, please visit the Company’s website at www.rimrockgold.com or contact the Company directly by e-mail at firstname.lastname@example.org.
The Company’s Vice President of Exploration, Richard R. Redfern, M.Sc., a Certified professional Geologist and ‘qualified person’ for the purposes of Canada’s National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.