VANCOUVER, BC / ACCESSWIRE / December 30, 2021 / RooGold Inc. (CSE:ROO)(OTC PINK:JNCCF)(Frankfurt:5VHA) ("RooGold" or the "Issuer") is pleased to reflect on a very successful 2021.
RooGold spent 2021 amassing a portfolio of complementary properties located in New South Wales (NSW) Australia. NSW is one of the most prolific gold territories for exploration and production since the 1850s. It is the second largest gold producing area in Australia with a gold endowment exceeding 3,160 tonnes. The New South Wales resources sector is vibrant, with world class deposits, a highly skilled workforce and a well-earned reputation for safe, responsible and innovating mining practices.
KEY PROPERTY ACQUISITIONS
Southern Precious Metals Ltd. (SPML)
The Company acquired a 100% interest in SPML, and its subsidiary, which held 100% interests in the Malebo and Solomons Properties in NSW. Through this acquisition, the Company welcomed key shareholders Dr. Chris Wilson and Dr. Quinton Hennigh.
Dr Wilson is a commercially-driven exploration geologist with over 30 years of experience in area selection and prospect generation, target generation, and the design and management of large resource definition drilling and pre-feasibility programs. He has worked in over 75 countries, on most commodities and deposit styles from grassroots through resource definition to feasibility. He spent 10 years with Ivanhoe Mines (IVN), including being Exploration Manager for Mongolia where he was responsible for an exploration portfolio of over 127 licences, spanning 11 million hectares. More recently Dr. Wilson has been involved in resource to mine to production reconciliation studies, project valuation and fatal flaw analysis.
Dr. Hennigh has been an integral figure in Australian junior exploration for many years. His advisory role in Kirkland Lake Gold's (KL) acquisition of the Fosterville gold mine in Victoria Australia lead to a dramatic increase in shareholder value as Kirkland Lake's shares rose from $6/share in 2015 to over $75 in 2020. Dr. Hennigh's Novo Resources (NVO) has also made a major discovery in the Pilbara region of Western Australia. As founder, then its CEO and currently Chairman, he has led them from a junior explorer to a producer. In addition, through his role as lead geo-technical advisor at Crescat Capital LLC, a Denver Colorado based hedge fund with a focus on junior precious metals investments, he consults for various prospective junior mining companies such as current high-flier, NewFound Gold Corp (NFG), of which Quinton is a Director.
RooGold Limited (Private Co.)
Through its acquisition of private company RooGold Ltd., RooGold Inc. (Public Co.) acquired nine (9) large resource exploration land packages in NSW, with the majority being past producing. The acquisition significantly added to the Company's land position in NSW with an expanded array of potential targets in a proven mining friendly jurisdiction.
Properties being acquired from RooGold Ltd. have hosted historical high-grade gold and silver production, but have limited exploration work conducted on them in modern times. The Properties provide diversity in terms of the deposit types and are controlled by renowned regional structures and contacts. One of these structures is the well-recognized Peel-Manning fault system. The Properties have had a combined total of 93 historic precious metals mines and prospects. Highly lucrative production grades of up to 384 g/t Au and 1,200 g/t Ag have been recorded on these historical mines. The Properties represent a very unique proposition: they possess a rare combination of having large exploration potential along with strong indications pointing towards the presence of high-grade mineralization through the significant historical mines and prospects.
Aussie Precious Metals Corp. (APMC)
The Company acquired two large historically producing land packages in NSW. The addition of these properties complements one of the properties acquired from RooGold Ltd. which covers the northern portion of the Copeland goldfield, located approximately 65km south-east across the same mineralized system as the two APMC properties.
The first of the two properties is known as Trilby (ELA 6237) comprising of 215 km2 and is located in the western portion of the New England orogenic terrain. The area spans a 35km long section of the serpentanized Peel-Manning Fault system within the eastern boundary of the New England orogenic terrain. The area includes the Trilby historic gold mine, consisting of swarmed meta-hydrothermal quartz veins with visible gold noted. The geological setting is highly prospective for Listwanite associated gold mineralization. The Peel-Manning Fault zone is significantly gold endowed to the north (Bingara Alluvial field) and the south (Nundle gold field) of the application area. Hard rock gold lode deposits are also abundant across the fault site. Hence, the potential for significant listwanite associated orogenic precious metal deposits are considered viable exploration targets.
The second property is known as Lorne (ELA 6234) comprising of 102.5 km2, which is located in the western portion of the New England orogenic belt. The area spans 12 strike kilometres of the significantly gold mineralized regional Peel-Manning fault system. Mineralization is of an orogenic or lode gold type and is characterized by quartz veins which may host high grade gold shoots. The area includes twenty-eight past producing gold mines and prospects. Historical production and prospecting records define a 1 km wide, 7.5 km long gold trend. Historical hard-rock production grades of up to 15 g/t Au are cited on the NSW MinView website. The historic mines include the past producing Marquis of Lorne orogenic gold-antimony mine, with over 500 m of historical underground workings and historic estimated reserves of 50,000 oz Au. Historic drill hole intercepts of up to 5 g/t Au over 5m are recorded across this zone from 5 drill holes, according to NSW government archive records.
CONSOLIDATED PROPERTY PACKAGE
(13 CONCESSIONS-1,380KM2 -137 HISTORIC MINES & PROSPECTS)
With the culmination of these acquisitions, RooGold Inc. now has 9 highly prospective gold and silver properties (5 gold and 4 silver) from private company RooGold Ltd., 2 gold properties from Southern Precious Metals Limited ("SPML") and 2 more gold properties from Aussie Precious Metals Corp ("APMC"). RooGold Inc. has a district scale land package in NSW composing of 13 concessions spanning ~1,380km2 and is home to 137 historic mines and prospects. NSW is prolifically mineralized with multiple metallogenic belts relative to other Australian regions and remains largely unexplored outside of the main camps. The region has a considerable gold endowment exceeding 100 Moz and silver endowment exceeding 1Boz.
CLOSING OF NON-BROKERED FINANCING
On October 4, 2021, the Company closed a non-brokered private placement of $2,632,500. One of the key investors in the round was Crescat Capital LLC. RooGold entered into a Strategic Shareholder Agreement with Crescat Capital LLC whereby Crescat's Investment Team and its Geological and Technical Director, Quinton Hennigh, will act as advisors to RooGold management..
Proceeds of the Financing will be largely deployed towards the exploration work program on the Company's NSW portfolio of properties. RooGold's NSW exploration will be centered on highly focused and priority driven work programs. The initial focus will be on the three properties located on the Peel Manning Fault - Trilby, Lorne, and Gold Belt.
MARKET AWARENESS EFFORTS
On November 8, 2021, the Company announced the engagement of Cascade Ventures Ltd. ("Cascade") for corporate consulting services for a term of 12 months. Cascade has been engaged to help coordinate a market awareness program for the Company through investor relations planning and budgeting, communications strategies, campaign development and management, and corporate positioning. To that end, as a result of comprehensive discussions through the later part of the year, it is the expectation of Cascade that multiple Investor Relations groups will be engaged in Janaury to collectively tell the RooGold Inc story as the company strives to increase shareholder value throughout 2022 and beyond.
PARTING THOUGHTS
"I firmly believe we are executing the necessary steps required for RooGold to become a successful and global exploration company. 2021 has been a year of transformational acquisitions and I am very excited to further explore these properties, while driving awareness to our story," stated Mike Mulberry, CEO of RooGold. "Looking at 2022, our plan is to continue building out a best-in class management team to execute on our strategy and to engage proven resource story-tellers to help us tell our compelling story to the markets," continued Mr. Mulberry.
About ROOGOLD
ROOGOLD is a Canadian based junior venture mineral exploration issuer which is uniquely positioned to be a dominant player in New South Wales, Australia, through a growth strategy focused on the consolidation and exploration of high potential, mineralized precious metals properties in this prolific region of Australia. Through its announced acquisitions of Southern Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp. properties, RooGold commands a portfolio of 13 high-grade potential gold (9) and silver (4) concessions covering 1,380 km2 which have 137 historic mines and prospects.
For further information please contact:
Michael Mulberry
T: 778-855-5001
info@roogoldinc.com
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan","expect", "project", "intend","believe", "anticipate", "estimate" and other similarwords, or statements that certain eventsor conditions "may" or "will" occur.
Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, therecan be no assurance that such expectations will prove to be correct. Such forward-looking statements are subjectto risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: RooGold Inc.
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