Currie Rose Resources Rossland Update.
Currie Rose Resources Rossland Update.
Toronto, Ontario – 29 April 2021 - Currie Rose Resources Inc. (TSXV - CUI) ("Currie" or the "Company")
provides an update of its winter 2020-21 drilling campaign at the Rossland Gold Project (the “Project”)
located in central southern British Columbia (Figure 1).
Highlights:
• Due Diligence expenditure (CAD$500,000) by Accelerate Resources Limited (“Accelerate”) has
now been fully deployed.
• Work included:
o Completion of 4 diamond drill holes for 747.32m and
o a detailed VLF-EM geophysical survey at the Gertrude prospect.
• Results confirms high grade gold potential at the Gertrude Prospect.
• Accelerate has:
o elected to convert its Initial Exploration Expenditure (subject to regulatory approval) to a
16.6% equity holding in Currie Rose and become a strategic shareholder and
o has no further interest in the Rossland Gold Project.
• Currie has consolidated its Rossland claim package, retaining the prospective Gertrude Project.
Figure 1 – Rossland Gold Project Priority Targets for First Drill Program
Michael Griffiths, Currie’s President and CEO, commented.
“The funding by Accelerate has enable Currie to complete our first drill program at Rossland and whilst
the results of our final hole reported today are disappointing, the results from our first drill hole at the
Novelty target were exceptional with multi-element returns, confirmed strong gold mineralisation.
“The drilling has also focussed out attention to the Gertrude area and we have taken the decision to
reduce our working footprint and will focus our efforts on the Gertrude Prospect where our VLF -EM
geophysical survey and other associated historical data remains a high priority location”.
Mr Griffiths also commented that “Accelerate have shown strong belief in management and we look
forward to having Accelerate as a major shareholder”.
Accelerate Option
Having concluded their Due Diligence expenditure, Accelerate have given Notice that they will not
proceed with the transaction to acquire the Rossland Project and, in accordance with out Term sheet
dated 1st September 2020, Accelerate has elected to convert their CAD$500,000 Loan to equity in Currie
Rose. Subject to regulatory approval, Currie will issue 8,333,334 fully paid ordinary shares in the capital of
Currie Rose to Accelerate at a deemed issue price of $0.06 per Currie Rose Share.
Accelerate will hold approximately 16.6% of Currie and will have no ongoing interest in the Rossland Gold
Project.
Due Diligence Exploration Summary
The exploration program set out to test the three identified primary gold targets located in the northern
section of the Rossland Gold Project area (Figure 1):
1. Gertrude Prospect,
2. Eleanor Prospect and
3. Mascot Prospect.
A total of 747.32m of Diamond Drilling (DD) was completed at the Gertrude (Novelty Target) and Mascot
Prospects, with most of the drilling (686.71m) drilled at Mascot (Table 2). Planned drilling at the main
Gertrude and Eleanor Prosects were postponed due to the unseasonal early arrival of heavy snow and
additional unplanned access issues.
1. Gertrude Prospect
A total of 60.6m of NQ2 diamond core was drilled at the Novelty target which forms part of the Gertrude
Prospect (Figure 2) located in the north western section of the Rossland Gold Project. Twenty -eight
samples were selected for assay with drilling successfully intersecting high grade gold with accessory
cobalt and silver. (See Table 1 below).
Drill hole RGP20-001 has successfully confirmed previous historic drilling that identifies north -south
striking gold mineralisation extending over 100m and open at depth below 60 vertical metres. Drilling at
the Novelty Target yielded very impressive multiple high-grade intervals including:
o 17.68g/t gold over 1.87m from 4.14m (including 0.29m @ 110.1g/t from 4.75m)
o 2.72g/t gold over 1.02m from 9.26m
o 15.63g/t gold over 4.10m from 27.51m
Work also included a surface (50m x 12.5m spaced) VLF-EM (Electromagnetic) Survey totalling 11line Km
was completed over the high-grade Gertrude Prospect, identifying a series of strong anomalies along
strike from previously mined high-grade gold veins and historic drill intercepts.
Other important historic data included:
• Coincident Magnetic and EM geophysical anomalies
• Historic, field identified diamond drill collars located ~ 150m along strike from the War Eagle Vein
which produced ~200,000 ozs gold grading 19g/t. These drill holes include:
o NB-94-1 6.1m @ 13.29g/t gold from 162.15m
o NB-91-16 4.5m @ 12.7g/t gold from 164.7m and
o NB-94-2 1.5m @ 17.18g/t gold from 151.2m
2. Mascot Drilling
The Mascot Prospect drilling results returned no significant results. The best gold intersection came from
RGP20-003 which returned 0.2m 7.41g/t Au and 2.19g/t Ag from 173.03m (Table 1). No further work is
planned on the Mascot Prospect.
Hole RGP20-004 targeted a strong +200m VLF-EM anomaly and the convergence of the historically
exploited East to North-North-East gold veins that include the Columbia-Kootenay Vein, Kapai Vein and
the Mascot North Vein (Figure 2).
The hole intersected a sequence of diorite and feldspathic porphyry’s, interbedded with monzonite and
volcanogenic sediments. Unfortunately, the drilled target zone was dominated by cross-cutting north-
south trending lamprophyre dikes (which are common in the “Mine Series” at the Le Roi) and historically
observed to consume the older mineralised zones.
Hole RGP20-004 has not fully tested the strong VLF-EM anomalism and the gold vein convergence and the
target remains open.
Prospect Hole# From
(m)
To
(m)
Width
(m)
Au
(g/t)
Ag
(g/t)
Co
(ppm)
Novelty RGP20-001 4.75 6.62 1.87 17.68 0.33 -
Including 4.75 5.04 0.29 110.10 9.28 >10,000
RGP20-001 9.26 10.28 1.02 2.72 0.93 -
RGP20-001 27.51 31.61 4.10 15.63 3.18 4077
Including 28.91 30.09 1.18 20.27 3.44
Mascot
RGP20-003 36.68 36.88 0.2 1.19 1.72
RGP20-003 59.96 60.16 0.2 1.69 2.08
RGP20-003 159.86 160.09 0.23 2.55 2.57
RGP20-003 173.03 173.23 0.2 7.41 2.19
Table 1– Significant Drill results (Reported 2nd March 20213)
Hole ID Easting
(m)
Northing
(m)
Elevation
(m)
Depth
(m)
Azimuth
(Deg)
Dip
(Deg)
RGP20-001 439715 5437361 1380 60.61 90 -70
RGP20-002 443060 5437491 1067 164.9 127.45 -60.2
RGP20-003 443060 5437491 1067 231.95 172.15 -60.1
RGP20-004 443172 5437631 1000 289.86 20.74 -50.4
Table 2 – Drill program – Co-ordinates
Next Steps
The Company will now concentrate on the Gertrude- Novelty Prospect and expects to re-start exploration
activity in 3rd quarter 2021.
Figure 2 – Mascot VLF-EM Anomalies and Drill hole locations2, 3
Foot Notes 1Bulletin 74 – Geological Setting of the Rossland Mining Camp by James T Fyles, Ministry of Energy, Mines and Petroleum Resources, Victoria,
British Columbia, Canada 1984.
2Bulletin 109 - Metalllogeny and Mineral Deposits of the Neilson Rossland Area: Part 11: The Early Jurassic Rossland Group Southeastern British
Columbia by Trygve Höy P .Eng. and Kathryn P .E. Dunne, P .Geo. December 2001.
3 Currie Rose Resources Inc (CUI: TSX-V) : Press Release dated 2-3-2021.
About Rossland
The Rossland Gold Project is situated 10km west from the Trail Zinc Smelter in south-central British
Columbia and covers approximately 3,000 Ha. The Rossland Mining Camp produced more than 2.7 million
ounces of gold, 3.5 million ounces of silver and 71 tonnes of copper between 1894 and 1941 and ranks as
the third largest lode gold camp in British Columbia1.
For Additional Information please contact:
Mike Griffiths, CEO Catherine Beckett, Manager Corporate Affairs
Office: 905-688-9115 Office: 905-688-9115
Email: [email protected] Email: [email protected]
About Currie Rose Resources Inc.
Currie Rose is a precious metal explorer focused on identifying high value assets in Canada.
Our current projects span British Columbia and Ontario with our immediate focus on the Rossland Project
in BC. Please visit our website located at www.currierose.com
Quality Assurance/Quality Control (“QA/QC”)
Drill core samples were transported in security sealed bags for analyses to MSALABS in Vancouver,
British Columbia. Individual samples are labelled, placed in plastic sample bags, and sealed. Groups of samples are
then placed into durable rice bags and then shipped. The samples transported to
MSALABS were dropped in rice bags with security seals by Overland West. The remaining
coarse reject portions of the samples remain in storage if further work or verification is needed.
Currie has implemented a quality -control program to comply with best practices in the
sampling and analysis of drill core. As part of its QA/QC program, Currie inserts external gold
standards (low to high grade) and blanks every 10 samples in addition to random standards, blanks,
and duplicates. A Fire Assay, 50g fusion, Gravimetric analysis of all samples over 10 g/t gold or the samples with
abundant visible gold. Check assays are routinely performed on samples with visible gold to
ascertain the mineralization zone’s gold content.
Qualified Persons
The Currie Rose scientific and technical information in this news release has been prepared in accordance with the
Canadian regulatory requirements set out in National Instrument 43 -101 (Standards of Disclosure for Mineral
Projects) and reviewed and approved on behalf Currie Rose Resources by Michael Griffiths, FAusIMM, President &
CEO for Currie Rose Resources, a Qualified Person.
Forward Looking 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.
This news release may contain forward-looking statements that are based on the Company’s expectations,
estimates and projections regarding its business and the economic environment in which it operates. Statements
about the closing of the transaction, expected terms of the transaction, the number of securities of Currie Rose that
may be issued in connection with the transaction, and the parties' ability to satisfy closing conditions and receive
necessary approvals are all forward-looking information. These statements are not guarantees of future
performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes
and results may differ materially from those expressed in these forward-looking statements and readers should not
place undue reliance on such statements. Statements speak only as of the date on which they are made, and the
Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future
events or circumstances, unless otherwise required to do so by law.