TORONTO, April 16, 2025 (GLOBE NEWSWIRE) -- Rocky Shore Gold Ltd. (CSE: RSG) (the "Company" or "Rocky Shore") is pleased to announce that its initial prospecting and surface sampling program at its 100%-owned, district-scale Gold Anchor Project, located in Newfoundland, has identified a highly prospective 6.0-kilometre-long gold target termed the Lane Pond Gold Target (the "Target"). The Target is located above the Appleton Fault Corridor; a known gold-bearing fault on the adjoining Queensway Project controlled by New Found Gold Corp. Additional gold-bearing targets have also been identified proximal to the JBP Fault Corridor and the newly discovered North and South Fault Corridors. The Company now controls more than 20 kilometres of the Appleton Fault Corridor, more than 50 kilometres of the JBP Fault Corridor and prospective additional major underexplored faults. The Appleton Fault Corridor and JBP Fault Corridor are known to host significant gold discoveries and gold deposits northeast of the Gold Anchor Project in central Newfoundland (see Map 1).
Map 1: Emerging Central Gold District with Extensive Gold Bearing Faults
Ken Lapierre, President and CEO of Rocky Shore commented, "This is an exciting time to be shareholders of Rocky Shore Gold. The Gold Anchor Project, part of a promising gold district, continues to yield excellent results. Despite limited exploration on less than 10% of the project, we've identified numerous high-priority areas, including the 6.0-kilometre-long Lane Pond Gold Target along the Appleton Fault Corridor, known for major gold deposits. This spring, we'll conduct surface geophysics and basal till sampling at Lane Pond to prioritize areas for our first-ever diamond drill core program. Additionally, we look forward to expanding our reconnaissance program of soil/till sampling and "boots on the ground" prospecting over prospective gold target areas identified to date once winter breakup is complete!"
2024-25 Updated Exploration Summary Highlights
(refer to Map 1 above for interpreted fault trends and gold target locations)
- Gold-Bearing Structures Identified: known major faults identified trending southwest onto the Gold Anchor Project, including the Dog Bay Line Fault, the gold-bearing Appleton and JBP Fault Corridors and the Grub Line Fault.
- Additional Faults Identified: preliminary studies identify the newly discovered North and South Fault Corridors. Both faults are located between the gold-bearing Appleton and JBP Fault Corridors.
- Lane Pond Gold Target Identified: the 6.0-kilometre-long Lane Pond Gold Target discovered along trend to the southwest of the known gold-bearing Appleton Fault Corridor. The Appleton Fault hosts significant gold discoveries and gold deposits on the adjoining ground. Values from soil, till and historic till and float samples at Lane Pond ranged from 0.005 g/t gold up to 8.7 g/t gold. Future planned exploration will include a diamond drill program in the summer of 2025.
- Additional Gold Target Areas Identified: Seven (7) additional gold target areas were discovered along the JBP, North and South Fault Corridors and the Grub Line Fault. Follow-up surface work planned for the summer of 2025.
Quality Control and Reporting Protocols
All samples are collected and prepared for shipment in the field for submission to Eastern Analytical Ltd. in Springdale, Newfoundland and Labrador, an ISO 17025 Certified Analytical Testing Facility, for 34 Element ICP Analysis. Blank and Certified Reference Materials (CRM) are included such that for every 18 samples, 1 blank and 1 CRM are included. Samples are shipped directly by in-field personnel, who maintain chain of custody until samples are delivered to the laboratory. Rock preparation at the lab involves crushing up to 3 kg to 80% passing 10 mesh, 250 gram split pulverised to 95% passing 150 mesh. Both soil and till samples are dried at 60oC and sieve up to 100 grams to 80 mesh. Analytical procedures include 4-acid digestion and ICP-34 analysis. For gold analysis, a 30 g sample is subjected to fire assay, digested in aqua regia, and analyzed by Atomic Absorption (AA). For base metals, 200 milligrams of sample material are digested using 4-acid digestion and analyzed using Inductively Coupled Plasma (ICP).
Qualified Person
Ken Lapierre, P.Geo., President and CEO of the Company, is a Qualified Person, in accordance with the Canadian regulatory requirements as set out in National Instrument 43-101, has reviewed and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
About Rocky Shore Gold Ltd.
Rocky Shore Gold is a Canadian-based mineral exploration company focussed on gold discoveries in central Newfoundland on its 100%-controlled Gold Anchor Project. The district scale underexplored grass roots project is the second largest (plus 1200 square kilometres) property within an emerging Central Gold District. It is strategically located on trend to major gold discoveries and recent gold deposits. Numerous gold bearing faults are within the project limits including the highly prospective Appleton and JBP Fault Corridors. Rocky Shore also holds strategic gold projects within the Hemlo Gold Camp area. The projects at Hemlo include the Pic Project (optioned to Barrick Gold Inc.), and the Idaho and North Limb Projects.
Rocky Shore Gold would like to acknowledge the financial support from the Junior Exploration Assistance Program from the Department of Natural Resources, Government of Newfoundland and Labrador.
For more information please contact:
Ken Lapierre, President & CEO
Rocky Shore Gold Ltd.
T: +1 (647) 678-3879
E: ken@rockyshoregold.com
Cathy Hume, CEO
CHF Capital Markets
T: +1 (416) 868-1079 x 251
E: cathy@chfir.com
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities laws. Generally, forward-looking information 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 state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, including, but not limited to the advancement of the Company's properties. The forward-looking information is based on reasonable assumptions and estimates of the management of the Company at the time such statements were made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Rocky Shore to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration; future commodity prices; changes in regulations; political or economic developments; environmental risks; permitting timelines; capital expenditures; technical difficulties in connection with exploration activities; employee relations; the speculative nature of mineral including the risks of diminishing quantities of grades of resources, contests over title to properties, the Company's limited operating history, future capital needs and uncertainty of additional financing, and the competitive nature of the mining industry; the need for the Company to manage its future strategic plans; global economic and financial market conditions; uninsurable risks;
and changes in project parameters as plans continue to be evaluated. Although Rocky Shore has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Although the forward-looking information contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, Rocky Shore cannot assure shareholders that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. Rocky Shore does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking information, except as required by applicable securities law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f3a72c90-854c-4111-b966-5ce5d8c2194f
