December 14, 2012
Vancouver, British Columbia
Tas Property Update
Rich Rock Resources Inc. (“Rich Rock”) and Inzana Metals Inc. (the "Company"), Rich Rock’s wholly-owned subsidiary, are pleased to report the preliminary results from recently completed ground 3DIP and ground magnetic gradient surveys on a portion of the Company’s Tas Gold-Copper Property (the "Property"). The 2012 program has added insight into more shallow depth (0 to 100m) of the interesting mineralized areas of the property, known as the Freegold, the West, and the Ridge Zones.
Work in 2012 consisted of line cutting, 20 km of 3DIP survey conducted by SJ Geophysics ("SJG"), and 55 km of ground magnetic survey conducted by Meridian Mapping Ltd., which is a follow up program from the 2011 work (see February 7, 2012 news release). The combination of geophysical anomalies suggests abundant disseminated sulfides (causing high chargeability) coupled with a zone of hydrothermally altered rocks (creating low resistivity), possibly representing a deep porphyry target. More detailed information on the 2012 work program is available in the NI 43-101 Technical Report Update dated November 15, 2012 and can be viewed at www.richrockresources.com.
According to the recent geophysical information together with the results of the bulk sampling from 1993, current work and permitting is focused on gold-copper bulk tonnage targets on surface in an area approximately 2000 x 1000 meter in size at the Ridge and West Zones. Black Swan Resource completed preliminary resource estimations based on 1988/89 drilling on the Ridge and West Zones. Drill inferred tonnage indicated to be in total 86,700 tonnes @ 6.86 grams/tonnes (0.2 opt) gold. This historical resource estimate predates the implementation of NI 43-101 guidelines, and therefore, should not be relied upon.
The Company has not verified the estimation, which is preliminary and historical and is not construed to be a current resource. In 1993, two bulk samples mined from the East Zone, which is part of the Ridge Zone, were processed, and totaled 32.3 tonnes of 35 g/t Au, yielding close to 1100 g Gold.
It can be concluded that, geophysically and geologically, the Tas prospect has strong similarities to the Mt Milligan and other alkalic porphyries in British Columbia. The magnetometer survey defined the north contact of the Tas pluton and identified magnetic zones associated with the Ridge Zone prospects. Previous radiometric surveys (2010) provided a number of potassic radiometric targets, similar to those from other porphyry targets in the Omineca District of northeast British Columbia.
Rich Rock has a permit for exploration valid until 2017, which includes up to 50 drill hole locations on the Property. The Company intends to proceed with the Phase I work program as outlined in the NI 43-101 Technical Report Update prepared by B.J. Price Geological Consultants Inc. dated November 15, 2012. The Phase I program identifies seven targets that warranted drilling, the West, West ll, Mid, East, 61, Camp and Southeast Zones, for a total of 3700m of phase l drilling. With the new 3DIP data, a program of 16 drill holes from 350 to 550 meters in depth totaling 7,100 meters has been proposed. The budget for the Phase 1 work program is $1,700,000.
2012 WORK PROGRAM
The 2011 3DIP survey succeeded at resolving interesting resistivity and chargeability anomalies in the subsurface at depth down to 350m. The 2012 3DIP survey was designed to generate a proper definition of the geophysical features at depths <100 m below the surface. The new survey configuration consisted of infill lines in the eastern half of the 2011 grid with a set of 5 new lines towards the NW. Utilizing the high resolution resistivity information resulted in mapping and re-mapping several geological breaks and faults that appear to control some structures of interest, including the Ridge and West Zone. The narrower line spacing of 100 m and shorter dipole length also allowed a more accurate definition of the geophysical signature associated with known showings as to refine the outlines of extended chargeability highs (> 45ms) with outer envelopes with slightly lower chargeability between 30 and 35 ms.
The resistivity model exhibits a complex pattern near surface outlining dense faulting. Some of the previously mapped faults from the Ridge Zone and the Freegold fault (solid black lines on Figure 1) clearly stand out in the resistivity model. In addition, they appear to extend farther north and south (pink extension lines on Figure 1), than what is represented on the geological map, which is based on surface outcrops and drill hole information. The resistivity model also outlines a multitude of un-mapped breaks (pink lines on Figure 1). The most important one is the E-W striking fault throughout the West and Ridge Zone (yellow line on Figure 1) as it might be one of the controlling factors in the formation of the West and Ridge Zone deposits. The West Zone fault itself appears to be shifted to the southeast in comparison to the geological map, and the 61 fault does not appear at all.
The structural information yielded from the resistivity model has been applied to the total magnetic intensity map from the ground magnetic survey in Figure 2. The newly defined W-E striking Ridge Zone fault and the extended generally N-S trending faults fit to the intrusives indicated by magnetic highs sitting underneath the West, the Ridge, and the South East Zones. Apparently, both features seem to relate to the mineralization of the area.
The remainder of the SJG model consists of deep extended chargeability highs and appearing as isolated features at the surface (Figure 3). Given their relatively high chargeability intensity at depth and their general alignment along the faults outlined by the resistivity model, those features are likely related to a fault-controlled pyritic system. Of high interest are the outer, lower chargeability envelopes, as the near surface ones in the vicinity of the Freegold fault and along the Ridge Zone faults are related to pyrite with chalcopyrite carrying the reported gold values. In addition, the South East Zone appears to be of interest, since it shows similar features (Figure 2 & 3).
About Rich Rock Resources Inc.
Rich Rock is a mineral exploration company headquartered in Vancouver, British Columbia. The company is managed by an experienced team of professionals with over 250 years of experience and a solid track record of exploration and development success. The company is focused on the discovery and development of gold-copper and molybdenum-copper deposits in British Columbia. The company owns 4 properties totaling over 15,730 hectares of land, three of them are located in Canada's largest known porphyry gold-copper belt, the Quesnel Trough, and one property is located in the molybdenum belt in the Stikine.
For further information please contact:
Curtis Brazeau: 778-846-4907
Sandra Jeffrey: 604-569-0035
Toll-Free Number: 1-888-992-8855
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, and reviewed by the Company's qualified person, Dr. Mathias W. Westphal, P.Geo.
FORWARD LOOKING STATEMENTS:
The information contained in this website is provided solely for the reader's general knowledge. The information is not intended to be a comprehensive review of all matters and developments concerning Rich Rock Resources Inc. All information is offered on a "best intentions" basis. No securities commission or other regulatory authority in Canada or any other country or jurisdiction has in any way passed upon this information and no representation or warranty is made by the Company to that effect.
This website includes "forward looking statements". Other than statements of historical fact, all statements included in this document, including without limitation, statements regarding exploration results, future plans and objectives of the Company may be forward looking statements. These statements may reflect management's current beliefs and are based on information currently available to management. Forward looking statements involve significant risks and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward looking statements, including, but not limited to, general economic conditions, changes arising as drilling results unfold, changes in regulatory environments affecting the Company and the availability and terms of subsequent financings. Although the forward looking statements included in this document are based upon what management believes to be reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.