Ramp Metals Provides Exploration Update and Announces Drilling Campaign
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March 28, 2024 7:00 AM EDT | Source: Ramp Metals Inc.
Vancouver, British Columbia--(Newsfile Corp. - March 28, 2024) - Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to provide an update on the Company's exploration activities, including a drilling program at its flagship Rottenstone SW property.
Key Highlights
- Commencement of the Company's 2024 drilling program on the Rottenstone SW property. To date, the Company has successfully drilled four (4) holes for a total of 1180m with the core being transported to a facility to be processed.
- Completion of the exploration program recommended in the Technical Report on the Rottenstone SW property, including airborne time domain electromagnetics (TDEM) geophysical survey, soil sampling and interpretation of the geophysical survey for drill target generation.
- As disclosed in the Company's news release dated September 22, 2023, appointed Dr. Mark Bennett, founder of Sirius Resources (acquired for AUD$1.8 billion) who oversaw the development of the Nova-Bollinger mine, as a Strategic Advisor.
"We are excited to provide an update on our exploration activities and our initial drilling campaign," commented Jordan Black, CEO of Ramp Metals. "After receiving the data from our geophysics program, we noticed similarities between our eye structure and the Nova Eye that was discovered by Dr. Mark Bennett at Sirius Resources. The team is excited about the potential of these drill targets and making a brand new discovery in Saskatchewan."
The recommended work program on the Rottenstone SW property yielded what Ramp Metals believes are favourable results, which prompted the Company to carry out a drilling program in order to better understand the subsurface geology of the property.
Four high-priority targets were generated from the dataset. The Company's current drilling program is testing two of these near-surface targets. The first target is the anomaly in the center of the claims and is located within the "Rottenstone Eye'' structure. The second is an anomaly outside the eye structure approximately 3 km East-South-East of the first location.
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).
In April 2023, the Company completed an 858 line-km airborne time domain electromagnetics (TDEM) geophysical survey which was flown at 100m spacing. The survey was flown using the 30Hz Xcite™ Time Domain Electromagnetic (TDEM) system towed by an FX2 helicopter platform, collecting time domain electromagnetic and total field magnetic data simultaneously.
The survey generated a high-definition magnetic map of the "Rottenstone Eye" structure (Figure 1) and compelling EM targets. The eye structure and location of the conductive targets show striking similarities to geophysical response of the Nova-Bollinger deposit.
Figure 1: Total magnetic intensity map
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The EM data displays prominent, discrete conductors associated with both the early times, as well as distinct late time conductors at depth (Figure 2). The profile maps of the layered earth inversion also show conductivity continuing at depth for the anomaly in the center of the claims.
Figure 2: Select EM Channel Grids: dB/dt Z Component
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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
 SOURCE: Ramp Metals Inc. |
