I suspect we have either started the correction I have been predicting or are about to. Silver spiked as it does every time it makes a temporary top as both metals show signs of schizophrenia not knowing just which direction to go in next.
We have way too many bulls and the cries of "short squeeze" have gotten shrill as they do with every top, temporary or not. Markets go up and markets go down. That's the way they are supposed to work. A correction on a regular basis is not an option; it is mandatory no matter how violent the bull.
Rockridge Resources Ltd. (ROCK:TSX.V) has a pair of interesting projects, a gold project in Ontario in the Greenstone belt surrounded by a host of other gold mines nearby and a copper rich, VMS deposit in Saskatchewan.
For now Rockridge's primary focus is on their Raney Gold project with about 2,800 square km located in mining friendly Ontario near both the Cote project owned by Iamgold and the Timmins gold camp. Timmins has produced over 70 million ounces of gold.
Rockridge recently completed a nine-hole 2,070-meter drill program with some interesting results. The best assay showed a 28.0 g/t gold assay over 6 meters. The best historic result was 6.1 g/t gold over 8.0 meters from 2009.
The company plans on a phase two drill program of 10 holes and 3,000 meters of core to begin shortly to follow up on the phase 1 results.
Rockridge is buying 100% of the Raney gold project subject to a 2% NSR for a total of $160,000 in cash, 450,000 shares and a total work commitment of $900,000.
Their second major project is located in Saskatchewan and is called the Knife Lake VMS property. In a 2019 drill program Rockridge came up with some excellent results including 2.03% Cu, 9.88 g/t Ag, 0.19 g/t Au and 0.36% Zn over 37.6 meters from 11.2 meters depth. The project has an existing 43-101 resource showing 3.8 MT @ 1,02% Cu Eq and 7.9 MT @ 0.67% Cu Eq.
Ron Netolitzky is an advisor to Rockridge. Ron has participated in more important gold discoveries than anyone else I know of and that speaks a lot about both management and their projects.
Rockridge is aggressively taking steps to raise money while it is available to move the company forward. They are at that boring stage where only the price of gold and drill results matter. But they are in elephant country and are hitting the edge of something interesting already.
Rockridge is an advertiser and I have bought shares in the latest PP. Do your own due diligence.
ROCK-V $0.155 (Jul 30, 2020)
RRRLF-OTCQB 51.1 million shares
Rockridge Resources website
Bob Moriarty founded 321gold.com, with his late wife, Barbara Moriarty, more than 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.[NLINSERT]
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