VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 8, 2008) - Rolling Rock Resources Corporation (TSX VENTURE:RLL) has received the updated resource estimate prepared by Wardrop Engineering Inc. for its 100% owned Monument Bay property located in northern Manitoba, Canada.
This updated inferred resource estimate incorporates the results from 2 drilling programs done by the Company totaling 16,716 meters since the July 2006 NI 43-101 resource estimate contained in the Technical Report posted on the Company's profile on www.sedar.com on July 7, 2006. Thomas C. Stubens, M.A. Sc., P. Eng., Senior Geologist of Wardrop Engineering Inc., conducted the updated resource estimate in coordination with the Company's technical staff.
"We are very pleased with the updated resource at Monument Bay which shows a significant increase from the 2006 estimation, and with our greater understanding of the deposit we can now move forward with a scoping study as this project's next step,"; said Scott Angus, President and CEO.
The NI 43-101 compliant technical report on the updated resource estimate, under preparation by Johan M. Shearer, B. Sc., P. Geo and Jose Garcia, the Company's senior project geologist, will be available within 45 days of the date of this news release and will be posted on the Company's profile on www.sedar.com.
The significant increase in this inferred resource is mainly contributed by additional mineralized volume from the newly discovered Burn zone; the expanded G zone and the main body east extension (To see the attached figure please click on the following link: http://www.ccnmatthews.com/docs/RLL108map.pdf).
The following table is the cumulative inferred resource summary: ID3, capped at selected Au cut-offs showing the Wardrop July 06 summary, the updated January 08 summary and the percentage increase.
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Wardrop July 2006 Wardrop January 2008
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Cut off K Au K Au Percentage
g/t Tonnes g/t K oz Tonnes g/t K oz increase
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3 3,379 6.45 701 4,888 6.01 944 34.6
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4 2,302 7.85 581 2,967 7.66 731 25.8
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5 1,609 9.32 482 1,936 9.38 584 21.2
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6 1,195 10.65 409 1,366 11.02 484 18.3
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7 894 12.05 346 1,008 12.63 410 18.2
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8 702 13.30 300 776 14.17 354 17.8
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9 547 14.68 258 604 15.80 307 19.0
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10 426 16.16 221 474 17.53 267 20.8
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11 335 17.70 191 381 19.25 236 23.8
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12 286 18.77 173 314 20.91 211 22.4
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The mineral resource update, particularly the block resource model, has enhanced the understanding of the continuity, geometry and gold grade distribution for each of the thirteen (13) veins modeled in this study of the Monument Bay property.
A greater level of confidence and resource classification could be achieved with underground development and closely-spaced drilling to test the geological and grade continuity of the many gold-bearing veins on the Monument Bay property. A scoping study to determine the economic viability of pursuing underground development work for more diagnostic mapping and sampling of the deposit as well as to serve as platform for more cost effective definition drilling to upgrade the resource category and eventually convert the mineral resource to ore reserve will now be pursued by the Company.
Parameters used for the updated resource estimates are as follows:
- The mineral resources in the table were estimated using CIM standards on mineral resources and reserves.
- The total database is comprised of 414 drill holes aggregating 113,703.6 meters (373,061.7 feet) of core drilling.
- Within the area of the resource inventory update, there were 341 holes totaling 96,578.7 meters (316,874.8 feet), of which 38,985.48 meters (127,911.4 feet) of the core was sampled and assayed in accordance with industry best practice procedures. These yielded a total of 38,043 gold assays that had passed industry-standard QA-QC protocol.
- The inferred resource consists of thirteen geologically and geographically distinct mineralized solids (veins) with distinct structural-stratigraphic, alteration-mineralization and sulphide assemblage characteristics.
- Grade interpolation is based on 1-m length composite within each geological unit or vein. The cutting thresholds used in Wardrop's 2006 Technical Report were employed in this study.
- Block models were established in Datamine for each of the 13 veins, truncated at the bedrock-overburden surface, using inverse distance cube gridding procedure, with directional parameters (distance and direction) based on the attitude and structural strength of each vein.
- Block model dimension is 10m by 1m by 10 m (Easting x Northing x Elevation), with sub cell size of 5m (Easting - X) by 0.5m (Northing- Y) and infinite splitting on the Z direction, to best model the narrow steeply dipping veins.
- Only blocks lying within 50 meters of a drill hole composite have been included in the estimate.
Mr. Thomas C. Stubens, M.A. Sc., P. Eng.; Senior Geologist of Wardrop Engineering Inc., and Mr. Johan M. Shearer M. Sc., P. Geo; Project Manager are independent of Rolling Rock and are Qualified Persons in accordance with NI 43-101 and they have both reviewed and approved the content of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rolling Rock Resources Corporation
Scott Angus
(604) 488-1456
