VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2008) - Rolling Rock Resources Corporation (TSX VENTURE:RLL) is pleased to report that the Technical Report supporting the Monument Bay mineral resources as reported on January 8, 2008 is now filed on the Company's profile at www.sedar.com.
The new estimation increased the inferred mineral resource by 35% to 944,000 ounces gold from 701,000 ounces gold. The resource estimate was made by Thomas C. Stubens, M.A.Sc. P.Eng., Senior Geologist of Wardrop Engineering Inc.
The report titled Monument Bay Gold Deposit; Focus on Gold Inventory Update incorporates all previous work to date including over $28 million of exploration expenditures with over 100,000 metres of diamond drilling. The Technical Report was prepared by J.T. Shearer, M.Sc., P.Geo along with Jose Garcia; the Company's' Senior Project Geologist.
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 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.
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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 Model, has enhanced the understanding of the continuity, geometry and gold grade distribution for each of the 13 veins modeled in this study of the Monument Bay project.
As recommended in the report, Rolling Rock has now contracted Beacon Hill Consultants Ltd. to carry out a Preliminary Assessment Mining Plan (scoping study). This will determine the economic viability of pursuing underground development work for more diagnostic mapping and sampling of the deposit as well as to serve as a platform for more cost-effective definition drilling to upgrade the resource category and eventually convert the mineral resource to mineral reserve.
Parameters used for the updated resource estimates are as follows:
- The mineral resource in the table was estimated using CIM standard on mineral resources and reserves.
- The total database is comprised of 414 drill holes aggregating 113,703.6 metres (373,061.7 feet) of core drilling.
- Within the area of the resource inventory update, there were 341 holes totaling 96,578.7 metres (316,874.8 feet), of which 38,985.48 metres (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 1meter length composites within each geological unit or vein. The cutting thresholds used in Wardrop's 2006 Technical Report (previously filed on the Company's profile on www.sedar.com) were employed in this study.
- Block models were established in Datamine for each of the 13 veins, truncated at the bedrock-overburden surface, using an inverse distance cube estimation procedure, with directional parameters (distance and direction) based on the attitude and continuity of the mineralization in 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 metres of a drill hole composite have been included in the estimate.
Mr. Johan M. Shearer, M. Sc., P. Geo; Project Manager is independent of Rolling Rock and is a Qualified Person in accordance with NI 43-101 and has reviewed and approved the content of this release.
Rolling Rock is a junior gold exploration company focused on acquiring and developing projects throughout North America. Its largest shareholders include Kinross Gold Corporation and Zinifex Ltd.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rolling Rock Resources Corporation
Scott Angus
(604) 488-1456
