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(RJKAF RJX.A.V) RJK Exploration Suspends Drilling at Its Rolling Pond Property

Monday, December 24, 2018, 9:29 AM ET

 

Kirkland Lake, Ontario--(Newsfile Corp. - December 24, 2018) - RJK Explorations Ltd. (TSXV: RJX.A) ("RJK" or the "Company") has suspended its drilling operations on the Rolling Pond gold Property located in the Moosehead area of Central Newfoundland. The Company has run into extensive mechanical issues and difficult ground conditions on its first drill hole of the program which began in early November. Two attempts were made to complete the first drill hole of the program with both being unsuccessful. A maximum depth of 271 meters was achieved prior to the drill having to demobilize from site due to mechanical issues. In addition to these issues, winter conditions have arrived early on the Island, making operations and access to the drill site increasingly difficult and costly.
Drill hole RP18-01 had successfully intersected 80.4 meters of vuggy quartz, quartz breccia and significant quartz veining beginning at 190.6 meters with the hole lost in the zone. It should be noted that the estimated width of the zone is between 50-60 meters true thickness based on limited historical drilling. Significant clay alteration and local sulphides were encountered within the hydrothermal zone. Assays for select sections of the core will be submitted to the lab in the coming weeks and results made public once they are received in the New Year. Analysis of the clay minerology is ongoing to better understand the nature of the large hydrothermal system intersected.
RJK intends to continue its drill program at the Rolling Pond Property again in the Spring of 2019 once winter conditions are no longer a major factor. The Company had also intended on drilling a second target it had outlined from work performed in the fall of 2018 where a coincident gold in soil geochemical and geophysical anomaly was identified approximately 4.5 kilometers along strike to the southeast (See Press Releases dated October 30, 2018 and November 13, 2018). Access to this site will be very difficult during the winter months.
Dean Fraser, P.Geo, a qualified person as defined by National Instrument 43-101, is the independent qualified person responsible for reviewing and approving the technical contents of this press release.
Neither the 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.
Forward Looking Information
This news release includes certain forward-looking statements, which may include, but are not limited to, statements concerning future mineral exploration and property option payments. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "will", "anticipate", "believe", "plan", "estimate", "expect", "intend", "propose" and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the financial resources of the Corporation being inadequate to carry out its stated plans. RJK assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.
Contact Information
Glenn Kasner, President
Telephone: [phone]
Mobile: [phone]
[e-mail]
(END) Dow Jones Newswires
December 24, 2018 09:29 ET (14:29 GMT)