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| | November 18, 2008
Rolling Rock Resources Increases Its Monument Bay Gold Deposit 28.3% to 1,212,000 Ounces
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| | Beacon Hill Consultants (1988) Ltd. of Vancouver, B.C. has presented, as a part of the Preliminary Assessment (Scoping Study), a National Instrument 43-101 revised resource estimate.
As indicated in the following table the November 2008 revised resource estimate shows a substantial increase in tonnes and total ounces gold ("Au") compared to the January 2008 resource estimate. This increased resource was estimated using revised vein interpretations and constraining solids, which define the deposit more accurately. The estimated Inferred resources are as follows:
January
2008
Estimate |
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November 2008
Revised Estimate |
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Percentage |
Cut off g/t |
K Tonnes |
g/t |
Au K oz |
K Tonnes |
g/t |
Au K oz |
increase % |
3 |
4,888 |
6.01 |
944 |
6,304 |
5.98 |
1,212 |
28.3 |
4 |
2,967 |
7.66 |
731 |
3,583 |
7.92 |
912 |
24.7 |
5 |
1,936 |
9.38 |
584 |
2,308 |
9.85 |
731 |
25.1 |
6 |
1,366 |
11.02 |
484 |
1,746 |
11.26 |
632 |
30.5 |
7 |
1,008 |
12.63 |
410 |
1,257 |
13.13 |
530 |
29.2 |
8 |
776 |
14.17 |
354 |
1,010 |
14.51 |
471 |
33.0 |
9 |
604 |
15.8 |
307 |
800 |
16.10 |
414 |
34.8 |
10 |
474 |
17.53 |
267 |
633 |
17.84 |
363 |
35.9 |
11 |
381 |
19.25 |
236 |
506 |
19.69 |
320 |
35.5 |
12 |
314 |
20.91 |
211 |
402 |
21.80 |
282 |
33.6 |
Due to the uncertainty that may be attached to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration.
Monument Bay is Rolling Rock's 100% owned flagship project that was acquired in March 2006 from what was then Bema Gold Corporation and Wolfden Resources. Monument Bay is located in Northeastern Manitoba, 350 kilometers southeast of Thompson. Red Sucker Lake, with full hydro electric power and airport services as well as winter road access, lies 60 kilometers to the southwest. The project consists of 35 contiguous claims and a mining exploration license covering 25,706 hectares in area.
The completed Preliminary Assessment Proposal including capital costing is forthcoming and will be reported and filed on Sedar when received.
Methodology
A total of 414 drillholes were supplied for the Monument Bay Deposit which are the combined drillholes for the A, A1, B, B1, C, C1, E, G70, X1, X2, 101, 102, 104, 125 and 146 zones. This includes drillholes from numerous exploration drilling campaigns spanning 1989 through 2007. 1989 - 14, 1990 - 36, 1991 - 18, 2003 FN holes - 4, GSC 2004 holes - 7, 1991 MAK holes - 5, 2005 MB hole - 1, 2000 SR holes -- 11, 2003 SR holes -- 4, 1990 STL holes - 7, 1991 STL hole -- 1, 2000 TL holes -- 12, 2002 TL holes -- 31, 2003 TL holes - 66, 2004 TL holes - 74, 2005 TL holes - 69, 2006 TL holes -- 26 and 2007 TL holes -- 28. The holes drilled during each successive campaign were mainly drilled to the south to improve definition of the deposit and infill drilling for better definition of resources. The drillholes within the database included collars, downhole surveys, assays, and lithology.
- The complete dataset including drillhole, assay, topography, surface features, geologic data in UTM coordinates was supplied by the Rolling Rock.
- An average S.G. of 2.73 was used for tonnage calculations.
- Solids models were created using sectional interpretations that utilized vein intersections and grade intercepts. The solids were used to then code the drillhole assays and composites for subsequent geostatistical analysis.
- Solids were clipped to the overburden surface.
- Geostatistical analyses were performed on the composites using no constraints in addition to the coded intervals within the mineralized zone solids.
- For the purpose of the resource model, the vein zone solids were utilized to constrain the block model by matching assays to those within the solids and those outside the solids zones.
- In terms of selectivity and estimation quality, it was decided that a 2.0m composite provided the best compromise between number of composites available for estimation, and a reasonable degree of dilution and regularization.
- 37.5 gpt was chosen as the most reasonable threshold at which to cut grades. However, the range chosen at which to limit grades greater than 37.5 gpt was 20 meters.
- The ellipsoid direction chosen for the estimation process was chosen to be a 93 degrees rotation about the Z axis, -30 degrees rotation about the X axis and 73 degree rotation about the Y axis. Maximum ellipse size was chosen to be 350m along the major axis, 275m along the minor axis and 25m along the vertical axis.
- The block size chosen was 10m x 1m x 10m oriented at rotated east, north, elevation respectively, in an effort to adequately decretitize the mineralized zones so as not to inject an inordinate amount of internal dilution and to somewhat reflect drill hole spacing available.
- The choice of interpolator was inverse distance to the 3rd power. For an open pit, bulk tonnage scenario, inverse distance to the second or third power is preferred. However, in this case where we have large high grade zones within which there are very high grade veins being evaluated from an underground mining perspective, inverse distance to a higher power is more appropriate as it localizes the grade to a certain extent.
- Three estimation passes were used to estimate the Resource Model because a better block-by-block estimation can be achieved by using more restrictions on those blocks that are closer to drill holes, and thus better informed. The three passes are based on increasing levels of information used to estimate blocks where each pass is done using being less constrained than the previous pass.
- All blocks are classified as inferred.
W. Peter Stokes, P.Eng., President of Beacon Hill Consulting Ltd., is independent of Rolling Rock and is the Qualified Person in accordance with NI 43-101 and has reviewed and approved the content of this release.
For more information contact: Scott Angus 604-488-1456
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release |
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| | You can view the Next News Releases item: Tue Feb 17, 2009, Rolling Rock Resources receives Positive Preliminary Economic Assessment Study for Monument Bay
You can view the Previous News Releases item: Mon Nov 17, 2008, Rolling Rock's Fall Drilling at Domain extends the B Zone by 150 Metres
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