Ramp Metals’ strategic focus on precious and base metals is essential for various growing industries in the global market. The company is in a compelling position to potentially make a significant gold discovery in a top-tier Canadian mining jurisdiction which is currently underexplored.
Ramp Metals (TSXV:RAMP) is a grassroots exploration company specializing in precious and base metals, particularly gold and nickel-copper-PGE. The company has two properties, two situated in Northern Saskatchewan, Canada.
The flagship property, Rottenstone SW Claims is situated along a geological structure that historically yielded the highest-grade nickel and platinum group elements (PGE) in Canada. It exhibits remarkable parallels to the Nova-Bollinger nickel-copper mine in Western Australia, which was discovered by Sirius Resources and ultimately sold to IGO Limited for AU$1.8 billion. The Nova-Bollinger mine had an estimated resource of 13.1 million tons (Mt) grading 2 percent nickel, 0.8 percent copper, and 0.07 percent cobalt.
The striking similarity between Rottenstone and Nova-Bollinger mine is encouraging and the appointment of Dr. Mark Bennett, the discoverer of the Nova-Bollinger deposit, as a strategic advisor, reinforces Ramp’s belief in the potential of the Rottenstone property. Bennett has over three decades of experience in establishing mines, and played a key role in multiple discoveries, such as the Wahgnion gold mine, the Thunderbox gold mine, and the Waterloo nickel mine, in addition to the Nova-Bollinger nickel-copper mine. Along with Bennett, Ramp Metals has also appointed leading geologists Scott McLean and Richard Murphy, as its strategic advisors to bolster its geology team.
The project’s presence in Saskatchewan is also encouraging for investors given the region’s mining-friendly policies. Saskatchewan was ranked second globally and the top in Canada by the Fraser Institute as the most attractive jurisdiction for mining investment in 2021.
Saskatchewan has gained prominence for its abundant uranium resources, yet its geological diversity presents significant potential beyond this. Exploration for other battery metals in the region has been limited or largely unexplored.
According to data from the World Gold Council, total gold demand gained a record 5 percent year-over-year to 1,313 tons during the third quarter of 2024, resulting in a series of record-high gold prices during the same quarter. The value of demand rose 35 percent to more than US$100 billion for the first time ever.
A major driver for gold’s growth are global gold ETF inflows, while bar and coin investments dipped 9 percent year-over-year. Gold jewelry consumption declined 12 percent, despite an increase in spending, with the value of demand jumping to 13 percent to more than US$36 billion.
Year-to-date central bank buying remains in line with 2022, despite a notable slowing down in Q3 2024.
Gold application in technology continues to be driven by artificial intelligence, growing 7 percent year-over-year and the “outlook remains cautious,” the World Gold Council report said.
The demand for battery metals will continue to grow, due to a strengthening EV market. S&P Global Mobility's 2024 global sales forecast anticipates battery-electric passenger vehicles will reach approximately 13.3 million units worldwide by the end of 2024, an increase of 40 percent year-over-year. In terms of market share, EVs will constitute around 16.2 percent of the total global passenger vehicle sales in 2024, compared to 12 percent in 2023.
Further, the emerging trend toward high-density batteries using nickel and cobalt, and less lithium, is also expected to boost demand for these metals. As one of the top critical minerals in the US and Canada, nickel projects are likely to see increased funding over the coming years.
There is a strong demand in the market for new, high-quality nickel-copper and lithium opportunities. Rottenstone SW borders Fathom Nickel, which recently secured C$4.6 million in funding and seems to be focusing on a similar geological system. The Rottenstone SW eye structure presents an ideal target for nickel-copper-PGE exploration.
The Rottenstone SW property is approximately 115 kilometers north of La Ronge, Saskatchewan. The property comprises 12 claims encompassing 17,285.5 hectares and is situated adjacent to a northeast-southwest geological formation connected to the renowned Rottenstone Mine. This mine yielded 40,000 tons of high-grade nickel-copper-PGE and gold ore, with grades averaging 3.28 percent nickel, 1.83 copper, and 9.63 grams per ton platinum-palladium-gold.
The company has completed various geophysical surveys including time-domain airborne geophysical measurements (TDEM), and soil sampling, all aimed at identifying potential drill targets. The survey results show striking similarities between Rottenstone SW Claims and the Nova-Bollinger deposit. The Rottenstone SW conductors show a strong correlation with the conductors identified at the Nova-Bollinger deposit. Based on the geophysical survey results, the company has identified four high-priority targets.
The company’s first drill program at the Rottenstone property was completed in April 2024 which led to a new high-grade gold discovery of 73.55 g/t gold over 7.5 meters in drill hole Ranger-01.
The company has expanded the Rottenstone SW claim block to a total of 32,715 hectares. Additional unexplored EM and mag targets are situated on the original claim block with similar signatures to Ranger and Rogue.
The Peter Lake Domain (PLD) property is situated within the Peter Lake Domain of the Swan River complex in Northern Saskatchewan, Canada, around 260 kilometers northeast of La Ronge, Saskatchewan. The property comprises two mineral deposit claims spanning approximately 1,171 hectares.
Peter Lake Domain has a history of exploration done by earlier operators. The previous exploration work returned surface grab samples of gabbro outcrop with disseminated pyrite and chalcopyrite (SMDI 5545) having values of 1,860 parts per million (ppm) copper, 461 ppm nickel, 41 parts per billion (ppb) platinum and 49 ppb palladium. A historical VTEM survey conducted by Geotech outlined compelling targets. According to Ramp Metals, the earlier operators drilled the property inaccurately and did not properly test the targets that were generated.
The project has the potential to be a major new discovery. Ramp Metals plans to undertake an airborne TDEM survey to build upon historical data and identify exploration targets. Once the targets are identified, the company will implement a drill program of about 2,000 to 2,500 meters.
Jordan Black brings over 12 years of geotechnical engineering experience for various infrastructure, renewable energy and mining projects. Black was previously the vice-president of business development at GoldSpot Discoveries and worked as a senior geotechnical engineer at WSP Canada.
Garrett Smith graduated with a BSc in geology from the University of Regina. Throughout his career, he has been involved in projects across Western Canada, focusing on various commodities. His extensive expertise ranges from greenfield mapping and exploration to on-site drill management. Driven by a genuine passion for exploration, Smith has dedicated the past few years to assembling a collection of base metal projects in northern Saskatchewan.
Brett Williams is a seasoned geologist with a diverse background, having worked as a mine geologist in both open pit and underground mining, as well as an exploration geologist in the diamond, base metals, gold and uranium sectors for Rio Tinto and SSR Mining. He earned his B.Sc. in geology and a diploma in business administration from the University of Regina. Williams is a registered member of the Professional Engineers and Geoscientists of Saskatchewan.
Prit Singh is a seasoned capital markets professional and presently serves as the CEO of Thesis Capital, an advisory firm offering support to high-growth companies in fundraising, Canadian market initial public offerings and investor relations. Throughout his career, Singh has collaborated with more than 50 issuers, facilitating fundraising and providing counsel, resulting in the procurement of over $100 million in capital across various emerging sectors. Before establishing Thesis Capital, he gained experience in investment banking and wealth management, fostering enduring relationships within Canada's buy-side and sell-side communities. Singh holds a BBA with a specialization in finance from Brock University.
David Parker has more than 15 years of experience in business financing, consulting and recapitalizing public/private companies in the mining, technology, and media sectors. He also has experience in retail, office, and industrial real estate sales and development. He has led projects from initial market analysis to acquisition, design, approval, site servicing, construction and disposition. He understands the financial implications of technical issues and planning policy changes, making him an effective director.
Peter Schloo has a decade of experience and expertise in capital markets, operations and assurance, and holds CPA, CA and CFA designations. Additionally, he is a licensed prospector in the province of Ontario, Canada. His track record includes facilitating over C$85 million in associated capital raising opportunities for both public and private enterprises. Currently, he is the CEO, president, and director of Heritage Mining, and a director of Pacific Empire Minerals. His previous roles included CFO of Spirit Banner Capital and VP corporate development and interim CFO for Ion Energy.
Michael Romanik has over 14 years of resource exploration and public market experience with an emphasis on management, promotion and corporate finance. He has built an impressive network of resource and investment industry contacts over the years, and demonstrated a proven ability to utilize those relationships to advance his business objectives. Romanik has served as the president and CEO of GoldON Resources (TSXV:GLD) since 2009 and is a founding shareholder and the CEO of Silver Dollar Resources (CSE:SLVDF).
A PhD-qualified geologist with over 30 years of experience in capital raising, mineral exploration and establishing mines; Instrumental in several discoveries, including the Wahgnion gold mine, the Thunderbox gold mine and Waterloo nickel mine, and the Nova-Bollinger nickel-copper mine in Australia for Sirius Resources (acquired for AUD$1.8 billion in 2015); Involved in raising over $1 billion in debt and equity financing for funding exploration and development projects and overseen mergers, demergers, acquisitions, investments and divestments.
A professional geologist with over 35 years of senior management, executive and board experience in the metals and mining industry. Between 1985 and 2007, he worked for Falconbridge Limited and its successor Xstrata Nickel in various capacities throughout Canada with a focus on gold and base metal exploration; Founded HTX Minerals Corp in 2007, Transition Metals Corp in 2010, SPC Nickel Corp in 2013 and Canadian Gold Miner in 2016; Currently leads Transition Metals and is the Executive Chairman of SPC Nickel.
A seasoned exploration entrepreneur with 27+ years of experience in the mineral exploration business. Brought two public companies through founding, acquisition, exploration and sales processes, most notably, Manitou Gold Inc. (acquired by Alamos Gold in Q2 2023). Expertise in building and advancing junior mining companies through discovery, resource definition and pre-feasibility stages to establish fully-valued mine reserves.
Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to announce a new copper discovery found during its recently completed mapping and sampling program on its flagship Rottenstone SW property. The Company has now confirmed three unique mineralized targets on the property, including the gold discovery of 73.55 gt Au over 7.5m that was identified in drillhole Ranger-01.
Key Highlights:
Ramp Metals is pleased to share key highlights from its ongoing exploration efforts and upcoming plans at its flagship Saskatchewan project:
"Following a successful field program, the Ramp Metals team is excited to have identified three distinct styles of mineralization on the property, including a world-class gold intercept after just one season of exploration," commented Jordan Black, CEO of Ramp Metals. "Saskatchewan has historically been underexplored, and this discovery demonstrates the immense potential that can be unlocked through grassroots exploration. Moving forward, the company will prioritize drilling in the high-grade gold zone at the Ranger target, with Rush and Rogue as secondary focus areas. By integrating the latest prospecting data with geophysics, we aim to refine our targeting and maximize the success of the upcoming drill program."
The mapping and sampling program lasted 14 days and focused on the Ranger, Rogue, and newly identified Rush targets (Figure 1). During this program, a total of 312 rock samples and 225 soil samples were taken (Figure 2) throughout the Rottenstone SW property.
Figure 1: Area of Focus for the sampling and mapping program. Zoomed in image are rock samples from the 2023 field program.
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Figure 2: October 2024 field program sample overview, overlaying TDEM channel 25
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Highlights
Rush Target
| ROCK SAMPLES | *0.45% Cu cutoff | |||||
| SAMPLE ID | SAMPLE TYPE | Cu % | Au g/t | Ag g/t | Pb % | Zn % |
| 416621 | Rock | 0.64 | 0.05 | 5.50 | 0.02 | 0.06 |
| 416622 | Rock | 0.45 | 0.04 | 5.10 | 0.01 | 0.12 |
| 416623 | Rock | 0.89 | 0.14 | 15.50 | 0.03 | 0.06 |
| 416629 | Rock | 0.75 | 0.06 | 6.50 | 0.02 | 0.07 |
| 416630 | Rock | 0.79 | 0.07 | 8.00 | 0.02 | 0.10 |
| 416711 | Rock | 0.47 | 0.01 | 10.10 | 0.46 | 0.31 |
| 416799 | Rock | 0.53 | 0.12 | 12.30 | 0.04 | 0.15 |
| 416800 | Rock | 1.61 | 0.28 | 28.10 | 0.11 | 0.05 |
| 416859 | Rock | 0.73 | 0.79 | 113.40 | 1.63 | 0.64 |
| 170558 | Rock | 0.45 | 0.04 | 4.70 | 0.01 | 0.06 |
| 170567 | Rock | 0.91 | 0.48 | 30.90 | 0.30 | 0.01 |
Table 1: Rush Rock Sample results. A cutoff of 0.45% Cu was used for this table.
| SOIL SAMPLES | *100 ppm Cu cutoff | |||||
| SAMPLE ID | SAMPLE TYPE | Cu PPM | Au PPB | Ag PPB | Pb PPM | Zn PPM |
| 499260 | Soil | 240.7 | 2.2 | 300.0 | 20.0 | 563.0 |
| 499261 | Soil | 619.7 | 0.9 | 111.0 | 30.0 | 400.8 |
| 499265 | Soil | 798.5 | 42.9 | 21152.0 | 7509.0 | 747.3 |
| 499266 | Soil | 383.2 | 2.8 | 158.0 | 538.9 | 208.1 |
| 499268 | Soil | 395.4 | 2.1 | 115.0 | 184.2 | 354.3 |
| 499274 | Soil | 217.1 | 2.4 | 246.0 | 10.8 | 68.0 |
| 499275 | Soil | 223.8 | 3.0 | 252.0 | 11.7 | 30.2 |
Table 2: Rush Soil Sample results. A cutoff of 100ppm Cu was used for this table.
Rogue Target
| SOIL SAMPLES | *50 ppb Au cutoff | ||
| SAMPLE ID | SAMPLE TYPE | Au PPB | Ag PPB |
| 499055 | Soil | 216.1 | 181.0 |
| 499061 | Soil | 530.7 | 38.0 |
| 499074 | Soil | 170.7 | 38.0 |
| 499120 | Soil | 119.7 | 43.0 |
| 499022 | Soil | 108.0 | 95.0 |
| 499147 | Soil | 50.5 | 5.0 |
| 499013 | Soil | 98.1 | 83.0 |
Table 3: Rogue Soil Sample results. A cutoff of 50ppb was used for this table.
Ranger
With drilling anticipated in February, goals at Ranger will be to further define the mineralization encountered within a quartz-diorite intrusion and to gain a better understanding of how the gold system is oriented. The quartz-diorite intrusion was intersected starting at 145.05m, with mineralization starting at 227m in the Ranger-01 discovery hole.
The Ranger target is in an area of exposed bedrock ridges which parallel the NE-SW striking regional foliation. A NE-SW striking high-conductivity zone approximately 1350m in length is associated with the target. The main lithologies encountered in this area are migmatites. Minor packages of quartz diorite, volcanic and sedimentary units were also encountered.
To date, gold mineralization has been found in two distinct rock packages. Prospecting in fall 2023 discovered two samples grading 5.11 g/t Au and 1.09 g/t Au in mafic packages within the migmatite country rock. These samples were located on separate ridges approximately 100m across regional strike (Figure 1). The discovery intercept of 73.55 g/t Au over 7.5m was found in a coarse-grained quartz diorite. During the October 2024 field program, a total of 177 rock samples were taken from multiple different lithologies around the Ranger target (Figure 3). Anomalous gold values up to 53 ppb were encountered. Field crews were not able to locate the surface expression of the large quartz diorite intrusive body that was intersected in the inaugural drill program. The diorite intrusion was intersected starting at 145.05m in the Ranger-01 discovery hole.
Core orientation tools will be used in the upcoming drill program in order to gain a better understanding of the orientation of the mineralized system, and determine whether or not it outcrops at surface.
Figure 3: Rock sample locations at Ranger from the 2024 & 2023 field season
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Rush
The Rush target is a newly identified area of interest located approximately 7.5 km NW of Ranger. Rush overlies a NE-SW striking zone of high conductivity approximately 1200m in length. The area is heavily forested and bedrock exposure is limited to sporadic ridges which parallel the NE-SW regional foliation. A total of 56 rock samples were taken over the area. Disseminated Chalcopyrite and Malachite staining were noted in multiple rock samples. Rock samples returned values of up to 1.61% copper, 0.79 g/t gold, and up to 113 g/t silver across different samples. A total of 24 soil samples were also taken and returned values of up to 798.5 ppm copper and 21,152 ppb (21.15 g/t) silver. Highlights of both rock and soil samples can be seen in Table 1 and Table 2.
A mineralized outcrop was traced for 20m along the base of an exposed ridge, and dips under cover to the NE and SW. When combined with the soil samples, the strike length of the mineralized zone defined to date is 270m and remains open in all directions.
"Rush is an incredibly exciting new target," said Garrett Smith, VP of Exploration for Ramp Metals. "The presence of a large conductive body beneath the surface samples creates a highly compelling drill target. We are eager to test the Rush target and build on the known gold mineralization at Ranger as part of our upcoming drill program."
Figure 4: Rock and soil sample locations from Table 1 & 2 at the newly identified Rush target.
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Rogue
The Rogue target is located approximately 3km NW from Ranger. The area is heavily forested and is covered by up to 10m of glacial till overburden. The Rogue target area appears to be associated with regional folding. The targets are located within the axis of these folded structures. Limited drilling to date has identified broad zones of chlorite and sericite alteration along with pyrrhotite, arsenopyrite, pyrite, and minor gold mineralization (see Ramp Metals' news release dated July 8, 2024). A total of 221 soil samples were taken throughout the Rogue target area (Figure 5). Gold values of up to 530.7 ppb (0.53 g/t) were encountered in the soil samples, with multiple samples over 100 ppb (Table 3). These samples, along with the high-grade gold, associated alteration, sulphides, and quartz-carbonate veining encountered in previous drilling, make for a compelling drill target for the upcoming program.
Figure 5: Soil sample grid and results over the Rogue target area.
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Geophysics
The Company has contracted Axiom Exploration Group out of Saskatoon for an extensive airborne geophysical program in order to complete the magnetic and electromagnetic datasets over the entire Rottenstone SW property. An estimated 2877 line-km will be flown using the Xcite HTDEM system at 100m line spacing. The geophysical program, combined with the lab results from the above-noted mapping program will be used to define drill targets in the upcoming winter drill program.
Furthermore, the Company is pleased to add Steve Balch as an advisor to the company, to aid in the selection of drill targets. Steve is an Ontario registered geoscientist with 40 years of experience in geophysics, specializing in magnetic and electromagnetic methods, but also with experience in large exploration compilations. After working at Inco for six years in the Sudbury Basin and at Voisey's Bay, Steve joined Aeroquest in 2001 and helped develop the AeroTEM system, focusing on the on-time measurements of the linear triangular waveform. In 2007, Mr. Balch founded Triumph Instruments and developed the AirTEM system, a multi-coil helicopter-borne EM system that is now in use in Mexico, China, Canada and Eastern Europe.
Mr. Blach will assist the Company in the selection of drill targets.
In connection with Mr. Balch's engagement, the Company granted 100,000 incentive stock options to Mr. Balch's management company, each of which vests immediately, exercisable into one common share of the Company at a price of $1.08 per share for a period of five years, and is governed by the terms of Ramp Metals' stock option plan.
Permits
The Company has two community meetings scheduled in La Ronge and Stanley Mission on January 28th and 29th respectively. We look forward to discussing the project with Lac La Ronge Indian Band and all community members. It is anticipated that drilling permits will be received in February and that drilling can commence shortly after receipt.
QA/QC and Geochemical Sampling Procedure
All rock & soil samples were taken, described, photographed, and bagged on-site. Control samples consisting of certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Companies QA/QC protocol at a rate of 1:15 or better. All samples were transported by Ramp Metals staff to a secure warehouse, packaged and transported by Manitoulin Transport to Bureau Veritas Commodities Canada Ltd.("BV"), an internationally recognized and ISO 17025:2017 accredited analytical services provider, at its Vancouver, British Columbia laboratory. The Companies QA/QC protocol is in addition to BV's QA/QC standard procedure.
Rock samples were prepared using the PRP70-250 package, where samples were weighed, dried, and crushed to greater than 70% passing a 2mm sieve, then pulverized to greater than 85% passing 75 microns. Samples were then analyzed in accordance with BV's FA330 and MA300 packages, for both gold, platinum & palladium analysis by fire assay (30g fire assay with AAS finish) and multi-element ICP analysis (0.25 g, multi-acid and ICP-ES analysis). Gold returning >10ppm is automatically analyzed by gravimetric method in accordance with lab standard of practice. Copper and lead over limits were re-assayed using BV's MA370 package, a multi-acid digestion with ICP-ES finish.
Soil samples were prepared using the SS80 package, where samples are dried at 60°C and sieved to depletion to -180 μm (80 mesh). Samples were then analyzed in accordance with BV's AQ251+PGM package, an ultra-trace by ICP-MS analysis where aqua regia digestion is used for low to ultra-low determination on soils followed by a 37 element ICP-MS and the platinum, palladium add on for analysis of a 15g sample.
Qualified Person
Brett Williams, P.Geo., VP Operations and Senior Geologist for Ramp Metals, and a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content in this news release.
About Ramp Metals Inc.
Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The Company currently has a new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.
Neither 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.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company's exploration activities.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Jordan Black
Chief Executive Officer
jordaneblack@rampmetals.com
Prit Singh
Director
905 510 7636
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Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to provide an update on its Rottenstone SW property where a gold discovery of 73.55 gt Au over 7.5m was identified in drillhole Ranger-01. The Company recently completed a mapping and sampling program to follow up on this discovery, and to groundtruth other potential targets that were generated from the 2023 TDEM geophysical survey.
The mapping and sampling program focused on the Ranger, Rogue, and newly identified Rush targets (Figure 1). During this program, a total of 312 rock samples and 225 soil samples were taken (Figure 2) throughout the Rottenstone SW property. Assays from this program are currently pending.
Figure 1: Area of Focus for the Sampling and Mapping Program.
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Figure 2: October 2024 field program sample overview, overlaying TDEM channel 25
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Ranger
The Ranger target is in an area of exposed bedrock ridges which parallel the NE-SW striking regional foliation. A NE-SW striking high-conductivity zone approximately 1350m in length is associated with the target. The main lithologies encountered in this area are migmatites and intrusive quartz diorite, with minor volcanic and sedimentary packages.
To date, gold mineralization has been found in two distinct rock packages. Prospecting in fall 2023 discovered two samples grading 5.11 g/t Au and 1.09 g/t Au in mafic packages within the migmatite country rock. These samples were located on separate ridges approximately 100m across regional strike (Figure 1). The discovery intercept of 73.55 g/t Au over 7.5m was found in a coarse grained quartz diorite. During the October 2024 field program, a total of 177 rock samples were taken around the Ranger target (Figure 3), with a focus on these two packages of interest.
Rogue
The Rogue target is located approximately 3km NW from Ranger. The area is heavily forested and is covered by 10m of glacial till overburden. The conductive geophysical targets appear to be associated with regional folding. The targets are located within the axis of these folds. Limited drilling to date has identified broad zones of chlorite alteration along with pyrrhotite, arsenopyrite, pyrite, and minor gold mineralization (see Ramp Metals' news release dated July 8, 2024). The Company believes that these indicators warrant further exploration of these targets. A total of 221 soil samples and 1 rock sample were taken throughout the Rogue target area.
Figure 3: Sample locations over Rogue & Ranger targets overlaying TDEM Channel 25
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Figure 4: Rusty Schist outcrop at 'Ranger'
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Figure 5: Channel sample taken at 'Ranger'
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Rush
The Rush target is a newly identified area of interest located approximately 7.5 km NW of Ranger. It consists of a NE-SW striking zone of high conductivity approximately 1200m in length. The area is heavily forested and bedrock exposure is limited to sporadic ridges which parallel the NE-SW regional foliation. A total of 56 rock samples and 24 soil samples were taken over the area. Disseminated Chalcopyrite and Malachite staining were noted in multiple rock samples.
This mineralized zone was traced for 20m along the base of an exposed ridge, and dips under cover to the NE and SW.
Figure 6: 'Rush' sample locations overlaying TDEM Channel 25. Photos of samples SRC416800 & SRC170558 can be seen in Figures 7 & 8 below.
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Figure 7: 'Rush' sample SRC416800 showing weathered ultramafic with malachite staining
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Figure 8. 'Rush' sample SRC170558. Example of Malachite staining taken at contact of ultramafic and migmatite
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"The Rush target is an exciting new development as it highlights just how underexplored the Rottenstone domain is," commented Garrett Smith, VP of Exploration at Ramp Metals Inc. "As we eagerly await the results from the October program, we are excited by the potential of a new deposit type to go along with our recent gold discovery."
The Company is currently planning an extensive airborne geophysical program in order to complete the dataset over the entire Rottenstone SW property. The geophysical program, combined with the lab results from the above-noted mapping program will be used to define drill targets in the upcoming winter drill program. An amendment to allow up to 5000m of drilling has been submitted to the Saskatchewan Ministry of Environment (see Ramp Metals' news release dated Oct 3, 2024) and is currently in the review process.
QA/QC and Geochemical Sampling Procedure
All rock and soil samples were taken, described, photographed, and bagged on-site. Control samples consisting of certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's QA/QC protocol at a rate of 1:15 or better. All samples were transported by Ramp Metals staff to a secure warehouse, packaged and then transported by Manitoulin Transport to Bureau Veritas Commodities Canada Ltd.("BV"), an internationally recognized and ISO 17025:2017 accredited analytical services provider, at its Vancouver, British Columbia laboratory.
Samples have been submitted to BV using the following packages and procedures:
Rock samples are prepared using the PRP70-250 package, where samples are weighed, dried, and crushed to greater than 70% passing a 2mm sieve, then pulverized to greater than 85% passing 75 microns. Samples are then analyzed in accordance with BV's FA330 and MA300 packages, for both gold, platinum and palladium analysis by fire assay (30g fire assay with AAS finish) and multi-element ICP analysis (0.25 g, multi-acid and ICP-ES analysis). Gold returning >10ppm is automatically analyzed by gravimetric method in accordance with BV's standard of practice.
Soil samples are prepared using BV's SS80 package, where samples are dried at 60°C and sieved to depletion to -180 μm (80 mesh). Samples are then analyzed in accordance with BV's AQ251+PGM package, an ultra-trace by ICP-MS analysis where aqua regia digestion is used for low to ultra-low determination on soils followed by a 37 element (including gold) ICP-MS with the platinum, palladium add on for analysis of a 15g sample.
Qualified Person
Brett Williams, P.Geo., VP Operations and Senior Geologist for Ramp Metals, and a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content in this news release.
About Ramp Metals Inc.
Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The Company currently has a new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.
Neither 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.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company's exploration activities.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Ramp Metals Inc.
Jordan Black
Chief Executive Officer
jordaneblack@rampmetals.com
Prit Singh
Director
905 510 7636
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232139
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Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to announce the receipt of necessary permits to continue exploration at the Company's Rottenstone SW project. The Company will focus on its Ranger target where 73.55 gt Au over 7.5m was discovered. Mobilization of the field crew for the mapping and sampling program will occur on October 7, 2024.
"The Ramp Metals team hit a world class gold intercept after only one exploration season on site. Historically, the Rottenstone SW property has not been explored in detail. Saskatchewan is very underexplored in general, which shows the potential for a new gold district. The team will use the data from this mapping and sampling program to help prioritize areas for drill targeting," commented Jordan Black, CEO and Director of Ramp Metals Inc.
Figure 1: Area of Focus for the Sampling and Mapping Program
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8725/225441_42fbd23f34d0dab5_001full.jpg
The goals of this program will be to attempt to find and trace the mineralized high-grade Quartz-Diorite at surface, and to follow up on the two samples (5.11 g/t and 1.09 g/t) from October 2023 which were found in a more mafic rock package.
Due to the presence of mineralization in two different rock packages, multiple samples will be taken from all lithologies encountered during the program. This has the potential to highlight more packages of interest and generate additional drill targets. Mapping and sampling of the surface bedrock units is critical to build a database of information essential for modeling important units and targeting mineralization accurately for the upcoming drill program.
The Ranger target has bedrock exposed at surface; therefore, the focus will be on collecting rock samples and mapping of bedrock. In lower lying areas of interest, where cover is thick and no outcrop is visible, soil samples will be taken.
The lower priority zones in Figure 1 are targets generated from our 2023 EM and Magnetic geophysical survey and will be visited if time allows. Bedrock exposure around the Rogue target is minimal and covered by 1-10m of overburden.
The Company is currently permitted for mapping, sampling and geophysics until December 2025. An amendment to allow up to 5000m of drilling has been submitted to the Saskatchewan Ministry of Environment.
In addition, Ramp Metals also announces that the Company has adopted a stand-alone restricted share unit plan (the "RSU Plan") in order to supplement its existing stock option plan, and granted an aggregate of 720,000 restricted share units (or RSUs) to certain directors, officers and consultants of the Company. Both the RSU Plan and the Company's existing stock option plan are "rolling up to 10%" plans, and the RSU Plan remains subject to the approval of the Company's shareholders as well as the acceptance of the TSX Venture Exchange (the "TSXV"). In accordance with the policies of the TSXV, none of the RSUs will vest until the date that is 12 months following the grant date, subject to certain limited exceptions.
Qualified Person
Brett Williams, P.Geo., VP Operations and Senior Geologist for Ramp Metals, and a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content in this news release.
About Ramp Metals Inc.
Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The Company currently has new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.
Neither 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.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company's exploration activities.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Jordan Black
Chief Executive Officer
jordaneblack@rampmetals.com
Prit Singh
Director
905 510 7636
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225441
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Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to announce the proposed sale of the Company's Railroad Valley Project located in Nye County, Nevada, to Canter Resources Corp. (CSE: CRC) ("Canter").
On September 11, 2024, Ramp Metals USA Inc, a wholly owned subsidiary of Ramp Metals ("Ramp USA"), entered into a claims acquisition agreement with Canter and an indirect wholly owned subsidiary of Canter pursuant to which Ramp USA agreed to sell its 100% interest in 50 unpatented association placer claims to Canter's subsidiary in exchange for (i) 300,000 common shares of Canter at a deemed price of $0.13 share and (ii) the reimbursement of certain claim maintenance fees recently paid by Ramp USA.
The Canter entities are responsible for paying any fees associated with the transfer of the claims and Ramp USA will retain a 0.5% net smelter returns royalty on the claims. Canter's subsidiary has the ability to repurchase the royalty for a one-time payment of $500,000 to Ramp USA.
The transaction remains subject to regulatory approval with a targeted closing date of September 19, 2024.
Field Exploration Update
The Company is currently planning a 14-day mapping and sampling program that will focus on the Ranger target where 73.55 g/t Au over 7.5m was discovered at its Rottenstone SW Project. Ramp Metals has contracted Axiom Exploration Group, located in Saskatoon, to assist with the field exploration. Three teams will be in the field mapping the area around the Ranger discovery hole and along regional strike. The goal of the mapping and sampling program is to gather information on the surface geology to better understand the mineralization and refine priority targets for the upcoming drill program.
Qualified Person
Brett Williams, P.Geo., VP Operations and Senior Geologist for Ramp Metals, and a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content in this news release.
About Ramp Metals Inc.
Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The Company currently has new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.
Neither 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.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company's exploration activities.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Jordan Black
Chief Executive Officer
jordaneblack@rampmetals.com
Prit Singh
Director
905 510 7636
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223150
News Provided by Newsfile via QuoteMedia
Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to announce that the Company has closed its previously announced non-brokered private placement financing (the "Financing") for total proceeds of $4,937,125.58. The Financing was led by Eric Sprott and EarthLabs.
In the Financing, Ramp Metals issued and sold an aggregate of 4,090,546 charity flow-through common shares (the "CFT Shares") at a price of $0.78 per CFT Share, plus 3,175,454 common shares (the "Common Shares") at a price of $0.55 per Common Share. No finder's' fees were payable in connection with the Financing.
"We are pleased to complete this financing and have the financial resources to continue our next phase of drilling at the company's flagship Rottenstone SW property," said Jordan Black, CEO of Ramp Metals. "We would like to thank everyone for their support, including strategic investors Eric Sprott and EarthLabs, who are both established and prominent Canadian mining investors."
The Company plans to use the proceeds from the issuance of CFT Shares for exploration expenses at its Rottenstone SW property in Saskatchewan, Canada. The proceeds from the sale of the Common Shares will be used for both exploration expenses and general working capital.
All securities issued in the Financing are subject to a hold period in Canada until December 10, 2024, in accordance with applicable securities laws.
The CFT Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"). An amount equal to the gross proceeds from the issuance of the CFT Shares will be used to incur eligible resource exploration expenses which will qualify as (i) "Canadian exploration expenses" (as defined in the Tax Act), (ii) as "flow-through mining expenditures" (as defined in subsection 127(9) of the Tax Act), and (iii) as "eligible flow-through mining expenditures" within the meaning of The Mineral Exploration Tax Credit Regulations, 2014 (Saskatchewan) (collectively, the "Qualifying Expenditures"). Qualifying Expenditures in an aggregate amount not less than the gross proceeds raised from the issuance of the CFT Shares will be incurred (or deemed to be incurred) by the Company on or before December 31, 2025 and will be renounced by the Company to the initial subscribers of the CFT Shares with an effective date no later than December 31, 2024.
One director of Ramp Metals subscribed for 90,000 Common Shares in the Financing, valued at $49,500. This constituted a "related party transaction" as that term is defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority approval requirements under MI 61-101, and in particular, Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the transactions is not more than the 25% of the Company's market capitalization.
The Financing remains subject to the approval of the TSX Venture Exchange.
About Ramp Metals Inc.
Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The Company currently has new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.
Neither 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.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the completion of the Financing, the use of proceeds therefrom, and the Company's exploration activities.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: requirements for additional capital; future prices of minerals; changes in general economic conditions; changes in the financial markets and in the demand and market price for commodities; other risks of the mining industry; the inability to obtain any necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; and currency fluctuations.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Jordan Black
Chief Executive Officer
jordaneblack@rampmetals.com
Prit Singh
Director
905 510 7636
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219604
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