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May 24, 2013
Rockland Adopts Advance Policy Notice
Rockland to Drill Blue Lake Cu-Ni-PGM Project Labrador Trough, Québec – Update
April 19, 2012, Vancouver, BC, Canada – Rockland Minerals Corp. (the "Company" or "Rockland"), (TSX.V: RL) is pleased to provide the following update on the Blue Lake, Cu-Ni-PGM historic resource located in the southern Labrador Trough, Quebec. The Blue Lake diamond drilling program is scheduled to begin July1st under the field direction of IOS Services Géoscientifiques and utilizing Cartwright Drilling Inc. The Company and its selected engineering firm, Caracle Creek Consulting, have been making good progress in compiling key data from over 550 holes drilled on the Cu-Ni-PGM showings at Blue Lake property since 1950s. The Blue Lake sulfide deposits are nickeliferous pyrrhotite ores, with a copper content twice that of nickel. The historical tonnage, established in 1989, was 4.03 Mt at 0.85% Cu, 0.52% Ni and 0.84 g/t platinum and palladium. Rockland's objective is to bring this mineralization into engineering compliance with National Instrument 43-101 in the shortest time possible.
The Blue Lake sulfides were discovered in 1942 by Hollinger North Shore Exploration Ltd, part of Iron Ore Company of Canada, and the first holes were drilled in the 1950's. Hollinger drilled 39 holes in 1967 and 37 holes in 1968, and established the first resource for the property. La Fosse Platinum Ltd. purchased Hollinger in 1985, and drilled an additional 400 holes. This drilling nearly doubled the original Hollinger resource. The 1989 resource quoted above was based on hand generated block models completed before National Instrument 43-101. The final work completed in 1989 was a 350 meter adit into the Blue Lake #1 lens to extract a 22-ton bulk metallurgical sample. No work was done at Blue Lake since that time, until Rockland acquired an option on the project in November 2011.
The underground working at Blue Lake #1 gave new insight into the nature of the mineralization. An internal report from 1989 states: "The average grade from channel sampling in the Blue Lake decline is about 20% higher than the Cu + Ni grade calculated from drill core analysis. The decline also disclosed a layer of soft chloritic, material 2"-18" thick, at the base of the massive sulphide. This material averages 0.12 g/t Pt and 6.02 g/t Pd (compared to 0.13 g/t Pt and 1.02 g/t Pd in the massive sulfide). This layer was not suspected before the decline was driven, as it was not recovered in the core from most of the drill holes."
This report also stated: "Most of the tonnage that has been drill-indicated to date is within 500-feet of the surface. It is reasonable to suggest that the reserves of massive sulphide in the Blue Lake area above the depth of 1,000-feet could reach 10 million tons. The base metal content of the deposits discovered in the future will probably be in the grade range of the presently known deposits. ...The most effective way to explore for massive sulphide is to drill fences of holes in the area where the sulphur-rich peridotite is close to the surface and shallow dipping."
George F. Sanders, P.Geo, director and Qualified Person under NI 43-101 responsible for the technical content of the news release, states: "We're reading the comments and recommendations of the La Fosse geologists from two decades ago, and we're finding the next phases of drilling, underground sampling, and metallurgical testing to be already laid out for us. The current metals cycle of high prices will support a robust development program at Blue Lake."In relation to the Company’s closing of a 714,286 share non-brokered Private Placement at $0.14 on April 10, 2012. All of the securities issued pursuant to the Private Placement are subject to a restricted period of four months and one day from the date of Closing being August 11, 2012. In addition, 357,143 share purchase warrants were issued in connection with the Private Placement, expiring 18 months from the date of Closing, being October 10, 2013. There was no compensation paid with the Private Placement.
On behalf of the Board of Directors
President and CEO
Rockland Minerals Corp.
Statements in this press release regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations and includes the statements with respect to the proposed Private Placement, the Closing thereof, the anticipated closing dates of the tranches and the Company's intention with respect to the use of proceeds from the Private Placement. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the closing may not occur for any reason. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) the inability of the parties to consummate the Private Placement or to finalize an agency agreement for any reason; (ii) a change in market conditions; and (iii) the refusal of the TSXV to accept the proposed transaction for any reason whatsoever. Except as required by law, the Company does not intend to update any changes to such statements.
NEITHER THE 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.