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Ramp Metals Completes Drill Program and Acquires 100% Ownership in Rottenstone SW and PLD Properties

16.04.2024 | 14:00 Uhr | Newsfile

Vancouver, April 16, 2024 - Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to announce that the Company has successfully completed a 2024 drill program at its Rottenstone SW project and acquired a 100% interest in both the Rottenstone SW and PLD property pursuant to the Company's option agreement with Rottenstone Resources Ltd. dated March 16, 2022.

Highlights

  • Acquisition of a 100% interest in the Rottenstone SW and PLD properties, subject only to a 2% net smelter royalty. The Company has the ability to purchase 1/2 of the royalty (1%) at any time for $1,000,000.
  • A total of 1180m was drilled in four diamond drillholes (Figure 1) at Rottenstone SW.
  • Three of four holes intersected mafic-ultramafic lithologies and Pyrrhotite mineralization. Mineralization styles ranged from disseminated to semi-massive.
  • Core samples are currently being transported to SRC in Saskatoon for geochemical analysis.
  • Two samples from the October field program, 170677 (Figure 3) and 170681, returned significant gold values: 5.11 g/t and 1.09 g/t, respectively.

"We are pleased to share that our recent drill program has concluded successfully, with assays currently pending," commented Jordan Black, CEO of Ramp Metals. "These findings highlight the potential of our assets and the expertise of our team. We look forward to sharing the results and remain committed to leveraging these findings to drive value for our stakeholders."

Figure 1: Rottenstone SW - 2024 Drill Holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8725/205634_fee8c517b44e1a50_001full.jpg

The drill program consisted of four diamond drillholes totalling 1180 metres, targeting two high-priority conductors: Rogue and Ranger. Three holes were drilled at Rogue and the remaining hole was drilled at Ranger. The Company was successful in intersecting significant intercepts of mafic-ultramafic lithologies in 3 of 4 holes. Pyrrhotite mineralization was confirmed with a Niton XL5 Plus portable XRF, and is present in most mafic-ultramafic rock packages. Mineralization styles range from disseminated to semi-massive.

Rogue-02-24 drillhole was drilled to a depth of 350m and tested a conductive anomaly in the centre of the claim block. Mafic-ultramafic hosted Pyrrhotite was intersected across a total of approximately 53 meters and ranged from disseminated to semi-massive.

Rogue-03-24 drillhole was drilled from a pad approximately 105 meters NW of Rogue-02 to a depth of 266m and attempted to pierce the same zone intersected in Rogue-02. Mafic-ultramafic hosted Pyrrhotite (Figure 2) was intersected across a total of approximately 140 meters and ranged from disseminated to net-texture.

Figure 2: Rogue-03-24 boxes 39 and 40 showing ultramafic hosted Pyrrhotite.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8725/205634_fee8c517b44e1a50_002full.jpg

Ranger-01-24 drillhole was drilled to a depth of 314m and tested a conductive anomaly approximately 3km east-south-east of the Rogue target. Prospecting in October 2023 discovered angular ultramafic boulders and outcrop at this location. Two samples from the October program, 170677 (Figure 3) and 170681, returned significant gold values: 5.11 g/t and 1.09 g/t, respectively. Ranger-01 drillhole intersected ultramafic hosted Pyrrhotite (Figure 4) across a total of approximately 20 meters. Mineralization styles ranged from disseminated to net-textured.

Figure 3: Sample 170677. Ultramafic outcrop sample from the Ranger target which returned values of 5.11 g/t Au.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8725/205634_fee8c517b44e1a50_003full.jpg

Figure 4: Ranger-01-24 - boxes 11 and 12 showing ultramafic hosted Pyrrhotite.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8725/205634_fee8c517b44e1a50_004full.jpg

Next Steps

The Company will look to further investigate the two conductors tested (Rogue & Ranger) in this drill program and two other untested conductive anomalies on the Rottenstone SW property with an extensive ground geophysical program. The unexpected gold showings from the October 2023 field program add a new level of intrigue to the Rottenstone SW Project. The Company is excited to follow the Ranger target to identify the source of the gold. Information regarding the program and the potential for additional drill targets and further groundwork will be provided once initial assay results are received and a ground geophysical program can be completed.

Geochemical Sampling Procedures

All drill core samples were sent to Saskatchewan Research Council Geoanalytical Laboratories ("SRC") in Saskatoon, Saskatchewan (an accredited laboratory) by secure transport for base and precious metal assay. Base metals were assayed by their ICP3 base metal package, which includes a total of 35 analytes by ICP-OES. All assay samples will be analyzed for gold, platinum and palladium using the AU5 Fire Assay Technique.

All drill holes are systematically logged, photographed and sampled by a trained geologist at Ramp Metals' core processing facility. Drill core samples are marked in intervals of up to 1.5m and cut in half using a diamond saw with half sent for assay and the other half saved for reference. Samples are then bagged and zip-tied, with 10-13 bagged samples placed into sealed rice bags for transport to SRC by Company personnel directly. Sample QA/QC procedures were applied by inserting a regular and systematic schedule of standards, blanks and duplicates into the sample stream. Certified standard reference material, blanks and duplicates were inserted into the sample stream at a minimum target of 5% insertion rate. Blanks were inserted at the start of each batch (35-36 poly bags) and additionally at the discretion of a trained geologist after samples of high sulphide content. Certified standard reference material and duplicates were inserted into the sample sequence at a rate of 1 in every 30 samples each, alternating between a standard and duplicate every 15 samples.

The Rottenstone SW Property

The Rottenstone SW property is located in the Rottenstone Domain, in Northern Saskatchewan, Canada, approximately 115 kilometers North of La Ronge, Saskatchewan. The property consists of 12 mineral deposit claims covering approximately 17,285 hectares. The Rottenstone SW property is located along a regional NE-SW structure from the historic Rottenstone Mine, which produced 40,000 tons of high grade nickel-copper-platinum group elements plus gold (Ni-Cu-PGE + Au) ore grading 3.28% Ni, 1.83% Cu and 9.63 g/t (Pt-Pd-Au).

Qualified Person

Brett Williams, P.Geo., VP Operations and Senior Geologist for Ramp Metals, and a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content in this news release.

About Ramp Metals Inc.

Ramp Metals is a battery and base metal exploration company with two flagship properties located in northern Saskatchewan and one property in Nye County, Nevada. The management team is passionate about green field exploration and new technologies. The vision of Ramp Metals is to make the next big discovery required to fuel the green technology movement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company's exploration activities.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

For further information, please contact:

Ramp Metals Inc.
Jordan Black
Chief Executive Officer
jordaneblack@rampmetals.com

Prit Singh
Director
905.510.7636

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205634

 
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