An initial resource estimate for Rockridge Resources Ltd.'s Knife Lake deposit in Saskatchewan defined 86 million pounds of copper equivalent in the indicated category, with 117 million pounds of copper equivalent classified as inferred.
Indicated resources comprise 3.8 million tonnes grading 1.02% copper equivalent, with contained metal estimated at 70 million pounds of copper, 456,000 ounces of silver and 11,951 ounces of gold.
Inferred resources contain 92 million pounds of copper, 610,000 ounces of silver and 21,340 ounces of gold within 7.9 million tonnes grading 0.67% copper equivalent. The National Instrument 43-101-compliant estimate used a base case cutoff of 0.4% copper equivalent.
The company said Aug. 14 that it will start an exploration program shortly to refine and prioritize regional targets. It holds an option to acquire the project, which hosts copper, silver, gold, cobalt and zinc mineralization, under a November 2018 deal with Eagle Plains Resources Ltd.