Vancouver, B. C. , Oct. 31, 2022 (GLOBE NEWSWIRE) — The board of directors of Rugthrough Resources Ltd. (“Rugthrough” or the “Company”) (TSX-V: RUG) is pleased to announce the discovery of copper mineralization during significant periods its first verification of the Cobrasco porphyry in western Colombia. Cobrasco has not been verified before through Rugthrough or any other operator.
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Rugby Chairman Yale Simpson said: “Rugby is extremely pleased to announce the discovery of a copper porphyry in the first verification of the Cobrasco Mineral System. Such giant copper interceptions imply that the formula is and deserves significant non-stop exploration. Verification of the moment, CDH002 is ongoing.
“The purpose of rugby is to note and compare the metals that are needed globally as countries move towards a more sustainable future. In pursuit of this purpose, we operate with local participation and the environmental criteria that I have noticed in the exploration industry. Rugby places as much emphasis on managing our social/environmental programmes as it does on our technical programme.
Figure 1 – Geochemical plan of the copper soil showing the location of CDH001 and CDH002
CDH001 was oriented in a southwesterly direction with a slight inclination (average -42 degrees) across the northern component of the giant Cobrasco porphyry surface footprint. Mineralized porphyry shows an encouraging alteration of potassium in the porphyry of quartziferous diorite in arrangement with the most productive copper The overprinting of retrograde alteration in sericite is evident. It is expected that even the upper copper contents are likely to be provided at an intensity below the sericite overlap zone. Further checks are planned to assess this possibility. The effects of control are summarized in Table 1.
CDH002 is susceptible to -70 degrees to control the intersected mineralized zone in CDH001 approximately three hundred to 400 m deeper in the system. Lately it has an intensity of 781 m, with a target intensity of 1200 m. The first control effects are expected in early December.
Table 1: Analysis Results and Mineralized Intersections
Figure 2: Copper mineralization is basically composed of bornite (68% copper) in the form of chalcopyrite edges and extensions (33% copper). The pyrite content is exceptionally low.
Technical data and quality and quality assurance
Rugvia’s sampling techniques and knowledge control conform to industry standards. The effects of the standard analyzes have been independently verified through a quality assurance/quality control (“QA/QC”) program that includes the insertion of blind qualified reference tissues (calibrators), blanks, and duplicate patterns. Registration and sampling were carried out in a secure corporate facility located in Quibdó, Colombia. The drill core was partially cut on site and the patterns were safely transported to the ALS Minerals (ALS) facility in Medellin, Colombia, where all pattern preparation was completed. Paste standards were sent to the ALS regional center in Lima, Peru, where all analytical charts were made. All standards are analyzed for gold via 30 gram loading chimney assay with AAS end (Au-AA23 method) and 48 element ultratrace point detection via 4 acid digestion with ICP-AES end /ICP-MS (ME-MS61 method). Over-limit or ore-grade elements were analyzed by 4-acid digestion with ICP-AES endpoint (OG62 method).
ALS is independent of Rugby and is ISO 9001 qualified
1 Copper equivalent (“CuEq”) contents were calculated using the following formula: CuEq % = Copper (%) (Molybdenum (%) x 5). costs of $3. 50/lb Cu and $20. 00/lb Mo.
Qualified person
Paul Joyce, Chief Operating Officer, Director and “Qualified Person” (“QP”) of Rugby, as explained in National Instrument 43-101, Disclosure Standards for Mineral Projects, has verified the clinical and technical bureaucracy that forms the basis of this press release. . Paul Joyce is a Fellow of the Australian Institute of Geoscientists (Registered Member #1908).
About rugby
Rugby Resources Ltd. es an exploration company that conducts “discovery stage” exploration activities across a portfolio of copper, gold and silver targets in Colombia, Argentina and Chile. Colombia’s Cobrasco allocation is located in the Western Cordillera belt, which hosts large-scale copper and molybdenum mines in Chile, Peru, and Panama (and more recent primary allocations discovered in Ecuador). This belt has not been the subject of fashion exploration in Colombia. The discovery of significant copper resources is imperative for the global transition from fossil fuels to complex “green” electrification.
The Company benefits from the involvement of its managers and control, a team that has been guilty of world-class mineral discoveries or is part of the control groups guilty of such discoveries. Previous corporations under his leadership included Exeter Resource Corporation and Extorre Gold. Mines Limited, which had significant projects in South America. These corporations were acquired through Goldcorp (Newmont) and Yamana, respectively.
For more information, you are invited to the Rugby Resources Ltd. online page. in www. rugbyresourcesltd. com.
Such. : 604. 688. 4941 Fax. : 604. 688. 9532
Toll Free: 1. 855. 688. 4941
Vancouver, BC Canada V6C 1H2
info@rugbresourcesltd. com
WARNING
Some of the statements made and data contained in this document constitute “forward-looking data” within the meaning of British Columbia, Alberta and Ontario securities laws. This includes statements relating to the Company’s proposed exploration plans for the Cobrasco Project in Colombia, the El Zanjon Project in Argentina and the Salvadora Project in Chile, the progress made in obtaining approval for its exploration concession programs in Colombia, the anticipated calendar of drilling and/or geophysical systems, the budgeted costs to carry out exploration systems, adding drilling, the prospect of high grade and the prospect of mineral discoveries in its projects and the taste or occurrence of mineralization that arrives to known and unknown threats, uncertainties and other matters that could possibly cause the actual effects, functionality or achievements of the Company, or the effects of the industry, to be materially different from the long-term effects, functionality or achievements expressed or implied by such forward-looking data. The Company maintains some of its projects, including Salvadora, under option contracts, which require annual payments in money, expenses and/or drilling needs to maintain its participation. If the Company cannot meet its legal responsibilities or renegotiate the agreements, it will lose its rights under the option agreement. The prospective data is subject to a variety of threats and uncertainties that may also cause actual events or effects to differ from those reflected in the prospective data, adding, among others, the effect on the costs of primary mineral products such as copper. and gold through points outside the control of the Company; occasions that may not be as they deserve to be forecast such as political and economic instskills, terrorism, environmental problems, and adjustments in government regulations and taxes; shortage of workers with the knowledge and skills to design and run exploration systems; difficulties obtaining contracts for drilling and other exploration services; the Company’s reliance on fair market position financing to fund its exploration systems and maintain its mineral exploration homes in a smart position; political threat that a government alters, translates or applies mining tenure, environmental regulations, mining taxes or royalties in a way that may also harm the Company’s assets or monetary position and impair its ability to advance its projects mining exploration or generate a budget for exploration; Relevant threats to the name of mineral deposits due to difficulties in determining the validity of secure claims, as well as the possibility of problems arising from the interpretation of legislation related to the ownership or exploration of mineral deposits in the Philippines, Argentina, Chile and Colombia and the infrequently ambiguous transfers of ownership inherent to many mining houses, the relevant monetary threats with operations abroad, the timing of obtaining authorizations to carry out exploration activities, the ability to enter into agreements with local communities and other threats and uncertainties; threats similar to the existing military confrontation between Russia and Ukraine; and the effects derived from the COVID-19 pandemic, adding those described in each of the Company’s MD&A and those contained in its financial statements for the fiscal year ended February 28, 2022 filed with the Canadian Securities Administrators and that found at www. sedar. com. In addition, forward-looking data is based on various assumptions, adding, without limitation, assumptions relevant to the effects and costs of exploration and the availability of fabrics and professional labor. If one or more of those threats and uncertainties were to materialize, or underlying assumptions were to prove incorrect, actual effects may differ materially from those described in forward-looking statements. Consequently, readers are cautioned not to place undue reliance on forward-looking data. Except as required by applicable securities legislation, the Company undertakes no legal responsibility to publicly update or revise any forward-looking data, whether as a result of new data, long-term events or otherwise.
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