Rugby Completes Detailed Sampling / Magnetics at El Zanjon Gold-Silver Project, Argentina

VANCOUVER, British Columbia, June 01, 2021 (GLOBE NEWSWIRE) — Rugby Mining Restricted (“Rugby” or the “Firm”) (TSX-V: RUG) is happy to report that beforehand reported gold-silver anomalies have been adopted up with a 3rd spherical of exploration on the El Zanjon property. The mission is south of the high-grade Cerro Vanguardia mine in Argentina (Figure 1). A complete of 506 soil samples and 422-line kilometres of floor magnetics have been accomplished. Outcomes are awaited.  

Yale Simpson, Rugby’s Chairman acknowledged: “We proceed to be inspired by the way in which targets are rising from what started as a conceptual gold play. The soil sampling is now on 160 metre spaced traces with the bottom magnetics on 80 metre traces. The outcomes will decide whether or not one other program of soil sampling is critical earlier than drill focusing on. Fortuitously, our workforce has appreciable expertise within the Deseado Massif giving us the arrogance to pursue this step-by-step discovery technique in what’s undoubtedly a world class gold district.”

El Zanjon is completely lined by gravels making geochemistry and magnetics the perfect instruments for the invention of an unexplored gold system. This program will additional outline gold-silver anomalies associated to magnetic options/buildings thought-about potential for epithermal gold-silver deposits (Figure 2). 

Click here for: Figure 1: Major mineralizing structures in Deseado Massif Gold-Silver District
showing the priority targets at the El Zanjon Project

This system simply accomplished is additional defining pH anomalies indicating extra acidic circumstances probably reflecting sulphides related to gold-silver mineralization within the underlying Chon Aike Formation within the Deseado Massif (Figure 2). When the soils outcomes are at hand, we’ll decide the correlation between the pH anomalies and the gold-silver anomalies.

Click here for: Figure 2: El Zanjon horizontal gradient magnetics and zones of low pH values

Earlier work by Rugby included floor magnetics and low detection geochemical sampling at 320m intervals over chosen components of the property. Gold-silver geochemical anomalies have been then adopted up within the present program with a complete of 456 soil samples collected at 160m intervals. A further 50 samples have been collected at 320m spacing alongside two buildings within the northern sector of the mission space. Assay outcomes are anticipated in June.

Paul Joyce, Rugby’s Chief Working Officer, Director and a “certified particular person” (“QP”) throughout the definition of that time period in Nationwide Instrument 43-101, Requirements of Disclosure for Mineral Initiatives, has verified the technical data that varieties the premise for this information launch. 

About Rugby
Rugby is an exploration firm conducting “discovery stage” exploration on targets in Colombia, Argentina, the Philippines and Australia. The Firm controls a portfolio of gold tasks in Colombia that don’t require the drilling approval course of that stalled the Cobrasco copper mission in Choco Province. These tasks are continuing by means of the grant course of at current. 

Rugby advantages from the expertise of its administrators and administration, a workforce that has both been immediately chargeable for world-class mineral discoveries or have been a part of the administration groups chargeable for such discoveries. Prior firms underneath their administration included Exeter Useful resource Company and Extorre Gold Mines Restricted, which held important tasks in South America. These firms have been taken over by Goldcorp (Newmont) and Yamana respectively.

For added data you’re invited to go to the Rugby Mining Restricted web site at www.rugbymining.com.

CAUTIONARY STATEMENT
Sure of the statements made and knowledge contained herein is “forward-looking data” throughout the which means of the British Columbia, Alberta and Ontario Securities Acts. This contains statements in regards to the Firm’s plans at its tasks together with progress on acquiring approval for its exploration concession functions in Colombia, the anticipated timing of drilling and/or geophysics packages, prospectivity, excessive grade potential and potential for mineral discoveries, the type or prevalence of the mineralization and drilling prices which contain identified and unknown dangers, uncertainties and different components which can trigger the precise outcomes, efficiency or achievements of the Firm, or trade outcomes, to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking data. As well as, the Firm holds sure of its tasks underneath possibility agreements, which require expenditure and/ or drilling necessities so as to keep its curiosity. Ought to the Firm not be capable of meet its obligations or renegotiate the agreements it can lose its rights underneath the choice settlement. Ahead-looking data is topic to a wide range of dangers and uncertainties which might trigger precise occasions or outcomes to vary from these mirrored within the forward-looking data, together with, with out limitation, the impact on costs of main mineral commodities comparable to copper and gold by components past the management of the Firm; occasions which can’t be precisely predicted comparable to political and financial instability, terrorism, environmental components and adjustments in authorities laws and taxes; the scarcity of personnel with the requisite information and expertise to design and execute exploration packages; difficulties in arranging contracts for drilling and different exploration companies; the Firm’s dependency on fairness market financings to fund its exploration packages and keep its mineral exploration properties in good standing; political danger {that a} authorities will change, interpret or implement mineral tenure, environmental laws, taxes or mineral royalties in a fashion that might have an opposed impact on the Firm’s property or monetary situation and impair its capacity to advance its mineral exploration tasks or elevate additional funds for exploration; dangers related to title to useful resource properties as a result of difficulties of figuring out the validity of sure claims in addition to the potential for issues arising from the interpretation of legal guidelines concerning possession or exploration of mineral properties within the Philippines and Colombia and within the typically ambiguous conveyancing attribute of many useful resource properties, foreign money dangers related to overseas operations, the timing of acquiring permits to conduct exploration actions, the power to conclude agreements with native communities and different dangers and uncertainties, the continuing results of the COVID 19 virus and together with these described in every of the Firm’s administration dialogue and evaluation and people contained in its monetary statements for the 12 months ended February 29, 2020 filed with the Canadian Securities Directors and obtainable at
www.sedar.com. As well as, forward-looking data is predicated on varied assumptions together with, with out limitation, assumptions related to exploration outcomes and prices and the supply of supplies and expert labour. Ought to a number of of those dangers and uncertainties materialize, or ought to underlying assumptions show incorrect, precise outcomes could fluctuate materially from these described in forward-looking statements. Accordingly, readers are suggested to not place undue reliance on forward-looking data. Besides as required underneath relevant securities laws, the Firm undertakes no obligation to publicly replace or revise forward-looking data, whether or not because of new data, future occasions or in any other case.

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