High Grade Gold Assays Returned from Prospect Sampling at Gold Star Project, New South Wales
HIGH GRADE GOLD ASSAYS RETURNED FROM PROSPECT
SAMPLING AT GOLD STAR PROJECT, NEW SOUTH WALES
Toronto, ON – August 30, 2022 – (CSE: ROO) (OTC: JNCCF) (Frankfurt: 5VHA) – RooGold
Inc. ("RooGold" or the "Issuer").
RooGold is pleased to report that it has received high-grade gold assays from the first pass
prospect sampling at its 100% held Gold Star project (EL 9215) located within the New
England Orogenic Terrain in New South Wales, Australia.
Highlights – Gold Star EL 9215
• Rock chip sampling at Golden Star and Golden Bar Historic Gold mines, returned
assays up to 23.1 g/t Au confirming high grade gold mineralization.
• Mapping and sampling of gold-bearing quartz veins in historical workings returned
assay results of 9.41 g/t Au and 6.38 g/t Au.
• Little to no exploration has been undertaken in modern times beyond Golden Star and
Golden Bar with numerous additional high grade, past producing prospects identified
along a 10 km strike to the south to be sampled upon grant of access.
• The localization of high-grade gold in quartz veins confirms the structurally controlled
nature of mineralization and supports an orogenic exploration model.
Carlos Espinosa, President & Chief Executive Officer of RooGold commented, “The prospect
sampling at our Gold Star Project has returned very high-grade gold assays from the historical
workings at Golden Bar and Golden Star prospects. These results confirm the potential for
significant gold mineralization. We have identified numerous other highly prospective gold
targets within this tenement and our field team is looking to sample as soon as surface access
is available.”
Rock Sampling
A total of 65 rock samples were collected in and around the Golden Bar and Golden Star
prospects that consist of two NW striking quartz vein systems located approximately 200
meters apart. The highest assay came from float near the historic al mine workings returning
significantly high grade of 23.1 g/t Au (R00391) from a smokey quartz vein containing
mudstone margins and fragments. Two other high-grade samples were returned from smokey
quartz veins containing sulfide stringers of pyrite and arsenopyrite in the workings, including
assays grading 9.41 g/t Au (R00389) and 6.38 g/t Au (R00379). Additional lower grade, but
still significant, assays were reported from the workings, grading 1.63 g/t Au each (R00384
and R00385), see Table 1.
The localization of high grade gold in quartz veins confirms the structurally -controlled nature
of mineralization and supports an orogenic model.
Table 1: Significant gold assays from quartz veins at Golden Bar and Golden Star prospects.
Anomalous gold was assayed in several other samples from the prospects, including 11 samples
grading in the range of 0.1 g/t Au – 1.0 g/t Au and 14 samples grading in the range of 0.01 g/t
Au – 0.10 g/t Au. The remaining 35 samples returned assays lower than the detection limit of
less than 0.01 g/t Au.
Other high-grade prospects along a 10 km strike to the south are yet to be sampled , including
the Comet and Bull targets, where reports from historic mine workings record an average grade
of 36.6 g/t Au.
Gold Star Project
The Gold Star Project ( EL 9215 ) is located approximately 20 km south of Walcha in the
Southern New England region of NSW. Walcha was the highest producing gold field in its
region. The discovery of the first payable gold at Golden Star took place in 1870. In 1872 and
1873 additional ree fs were found and a small -scale "rush" developed . Historical newspaper
extracts at the time report spectacular grades in the area between 445 g/t Au and 840 g/t Au.
However, the rush was short lived, the workings were filled in and Golden Star received little
exploration since.
To this day, Golden Star remains poorly explored despite widespread historical mining activity.
Limited drilling by Balmoral Resources in 1987 (seven holes totaling 199 m) and Tellus
Resources in 2014 (eight holes totaling 1,327 m) focused on the immediate area around the
Gold Star workings. Returning positive initial drilling results of 1.0 m grading 6.46 g/t Au and
Sample ID UTMGRID EASTING NORTHING RL Au g/t
R00379 MGA_94 359724.1 6548708.86 1190.901 6.38
R00384 MGA_94 359685.2 6548663.33 1190.499 1.63
R00385 MGA_94 359700.9 6548632.72 1190.37 1.63
R00389 MGA_94 359701.7 6548608.34 1187.67 9.41
R00391 MGA_94 359704.3 6548582.44 1188.118 23.1
12.0 m grading 0.67 g/t Au, respectively. No drilling or formal modern exploration has been
conducted outside of the immediate Gold Star mine area.
Figure 1: Gold Star and Adjacent Dingo Project, showing recent high grade rock chips collected at the Golden Star and
Golden Bar prospects by gold g/t and other prospects yet to be sampled.
Quality Assurance and Quality Control (QAQC) and Assay Procedures
A minimum of 3 kg of material per rock chip sample was collected in sealed calico bags by the
RooGold field team. Five calico bags containing rock chips were placed in polyweave bags ,
each one of which was zip-tied to ensure security. The polyweave bags were transported to
ALS Orange, Australia for assay testing.
ALS is independent of RooGold and is certified to international quality standards through
ISO/IEC 17025:2017, including ISO 9001:2015 and ISO 9002 specifications. At ALS, the rock
chips underwent coarse crushing before fine crushing to 70% less than 2mm , then riffle split
off 1 kg, followed by a pulverise split to better than 85% passing <75μm. Gold was measured
by Fire Assay of 50g sample and an Atomic Absorption Spectroscopy ( AAS) finish. Field
blanks were inserted every 25 samples. Certified gold reference standards (CRM’s) were
inserted every 13 samples. Assay results from certified standards received from the laboratory
are required to be within 3σ from their Certified Reference Value. RooGold noted no issues
with the CRM results, which met acceptable values.
Data Verification
Alexandra Bonner has verified the scientific and technical data disclosed in this news release,
including the rock chip locations , sampling procedures, and analytical data underlying the
technical information disclosed. Specifically, Alexandra Bonner reviewed the original certified
assay results from ALS and verified the assay summary table produced for these rock chip
samples. RooGold and Alexandra Bonner do not recognize any significant factors of sampling
or recovery that could materially affect the accu racy or reliability of the rock chip assay data
disclosed in this news release.
Qualified Person Statement
The scientific and technical information contained in this news release has been prepared and
approved by Alexandra Bonner , Vice President Exploration , who is a Qualified Person as
defined in NI 43-101.
ROOGOLD is a Canad a-based junior venture mineral exploration issuer which is uniquely
positioned to be a dominant player in New South Wales, Australia , through a growth strategy
focused on the consolidation and exploration of high potential, mineralized precious metals
properties in this prolific region of Australia. Through its announced acquisitions of Southern
Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp . properties, RooGold
commands a portfolio of 14 high-grade potential gold (10) and silver (4) concessions covering
2,696 km2 which have 139 historic mines and prospects.
References
Belshaw, J.P. and Jackson, L. 1950, Gold Mining Around Walcha. New England University
College, Regional Research Monograph No 3.
Balmoral Prospecting. (GS1987/087).
Kinex. (n.d.). GS1987/087.
Tellus Resources. (GS2015/0797).
For further information please contact:
Carlos Espinosa, CEO
Ryan Bilodeau
(416) 910-1440
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