Many companies in this mining-rich country are gearing up to do what they do best. In September, Vancouver-headquartered Rockridge Resources Ltd. (TSX-Venture: ROCK) told investors Thursday it plans to kick off its exploration drilling program in Northern Ontario in early September.
The Raney Gold Project is located southwest of Timmins. Officials say a permit for the program has been received providing for exploration activities including diamond drilling to be conducted over the next three years.
Thursday’s news release about the project describes the minimum 3,000-metre diamond drilling program aimed at testing the strike and down plunge extent of the high-grade intercepts identified during the previous drill program.
Raney is a large prospective gold property covering 2,800 hectares, give or take, located about 110 kilometres southwest of Timmins, hailed throughout the world as the heart of the “gold belt”.
The release goes on to say a phase-one drilling program completed earlier this year (2,070 metres in nine diamond drill holes) to assess the potential of the mineralized gold system returned a highlight intercept of 28.0 g/t gold over six metres.
ROCK shares acquired 2.5 cents, or 13.5%, to 21 cents late Thursday morning, on volume of 230,000 shares.
