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Ramp Metals Inc. (TSXV: RAMP) ("Ramp Metals" or the "Company") is pleased to announce that the Company has intersected semi-massive and massive sulphides with chalcopyrite and sphalerite mineralization at the Rush target.
The Rush target is a NE-SW trending conductive anomaly over 1100m in length. Rock samples from the October 2024 field program returned values of up to 1.61% copper, 0.79 g/t gold, and up to 113 g/t silver across different samples. In addition, soil geochemistry samples taken above the anomaly returned values up to 798.5ppm copper and 21,152ppb silver(21.15 g/t). More details can be found in the Press Release dated January 20th.
Drilling to date has intersected semi massive and massive sulphide mineralization in all 3 drill holes at Rush. The presence of sphalerite and chalcopyrite has been confirmed with a Thermo Scientific™ Niton™ XL5 Plus handheld XRF analyzer.
Rush-001 was drilled to 177m and intersected disseminated sulphide and stringer mineralization from approximately 12.5m - 30m in depth. Semi-massive sulphides were intersected from approximately 31.5m - 33.25m. Massive sulphides were intersected over 3.2m from 61.50-64.69m (Figure 1).
Figure 1: Rush-001 Massive Sulphide Intersection at 61.50-64.69m depth
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Discontinuous intersections of semi massive and massive sulphide were also encountered from 70.15 -73.5m along Rush-001 (Figure 2).
Figure 2: Rush-001 - Discontinuous intersections of semi-massive and massive sulphide from 70.15 -73.5m
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Rush-002 was drilled to 123m and intersected semi-massive and massive sulphides over 2.7m from 69.25-71.95m depth (Figure 3).
Figure 3: Rush-002 - Semi-massive and massive sulphide over 2.7m beginning at 69.25m
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Discontinuous sections of semi-massive sulphides were also encountered from approximately 76m-91.25m downhole on Rush-002(Figure 4)
Figure 4: Rush-002 - boxes 17 and 18 showing discontinuous semi-massive to massive sulphide mineralization
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The Company has decided to extend the drilling program to a total of 19-20 holes to follow up and continue the successful drilling at Rush.
"We are pleased to announce a potential VMS discovery today," said Jordan Black, CEO of Ramp Metals. "The presence of semi-massive to massive sulphides containing chalcopyrite and sphalerite within a 1,100-metre conductor represents a highly compelling development and underscores the potential of our exploration program."
Disclaimer: Grab Sample are selected samples and may not represent true underlying mineralization. Additionally, soil sampling surveys are not definitive, and the results are still at an early stage of interpretation, with no guarantee of a mineral discovery.
Ranger
The Company has completed seven holes at its Ranger target on the Rottenstone SW property.
Of the seven holes completed at Ranger, six were drilled in the vicinity of the Ranger-001 discovery hole which returned values of 73.55 g/t over 7.5m, as seen in the June 17, 2024 News Release. Quartz diorite was intersected in all six holes over significant widths. Mafic dykes cross-cut the quartz diorite intrusion. Potassic and hematite alteration was noted along with carbonate stringers (Figures 5 and 6).
Figure 5: Ranger-003 - Mafic dyke with altered quartz-diorite and carbonate stringers.
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Figure 6: Ranger-005 - Potassic alteration of quartz diorite with mafic dyke.
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The final hole drilled at Ranger, Ranger-008, tested one of the new eastern EM anomalies described in the April 14th news release.
QA/QC
Uncut whole NQ drill core was analyzed by a Thermo Scientific™ Niton™ XL5 Plus handheld XRF, operated by Ramp Metals staff on site. The Portable X-Ray Fluorescence ("pXRF") data is exploratory in nature and is used predominantly as an internal workflow to assist in target prioritization and mineral identification through an early phase of exploration investigation. pXRF data is not provided as it is not an indicator of representative geochemistry of the entire rock mass and therefore should only be viewed as an initial screening prior to laboratory assays.
Drill core is currently being logged, sampled and cut by diamond saw. Samples will be shipped as they are processed for laboratory analysis at Bureau Veritas Commodities Canada Ltd.("BV"), an internationally recognized and ISO 17025:2017 accredited analytical services provider, at its Vancouver, British Columbia laboratory. The first batch of samples is anticipated to be shipped to within the next week.
Drill core samples are marked in maximum intervals of up to 1.5m and cut in half using a diamond saw with half sent for assay and the other half saved for reference. Samples are then bagged and zip-tied, with 15 bagged samples placed into sealed rice bags and then 20 rice bags placed in mega bags for transport to BV. Sample QA/QC procedures were applied by inserting a regular and systematic schedule of standards, blanks and duplicates into the sample stream. 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 in addition to BV's internal quality assurance programs.
Rock samples will be 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 will be analyzed in accordance with BV's MA300 and FA330 packages, for both multi-element ICP analysis (0.25 g, multi-acid and ICP-ES analysis) and gold analysis by fire assay (30g fire assay with AAS finish). Gold returning >10ppm is automatically analyzed by gravimetric method in accordance with BV's standard of practice.
Market Liquidity Services
The Company is also pleased to announce that it has engaged Velocity Trade Capital Ltd. ("Velocity Trade") to provide market-liquidity services to the Company in accordance with applicable securities laws and the policies of the TSX Venture Exchange ("Exchange"). Velocity Trade will manage trading of the Company's shares from time to time for the purpose of maintaining an orderly market, with a view to reducing trading volatility and improving the liquidity of the Company's shares. The funding and securities required for these services undertaken will be provided by Velocity Trade.
In consideration of the market liquidity services, Ramp has agreed to pay Velocity Trade a monthly fee equal to $6,000 per month, and after a period of sixty days, either party may terminate the contract by providing the other with 30 days prior written notice of termination.
Velocity Trade is a private and independent investment dealer headquartered in Toronto, Ontario, and is registered for trading in the provinces of Ontario, Quebec, British Columbia, Alberta, and Manitoba. Velocity Trade is a member of the TMX, and of the Canadian Investment Regulatory Organization (CIRO). Additionally, the firm and its affiliate companies are regulated internationally by the UK's Financial Conduct Authority (FCA), the Authority for Financial Markets (AFM) in the Netherlands, the Australian Securities and Investments Commission (ASIC), South Africa's Financial Sector Conduct Authority (FSCA), and the Monetary Authority of Singapore (MAS), among others.
Velocity Trade and Ramp are not related parties and have no other agreements other than the market liquidity agreement which is the subject of this news release.
The engagement of Velocity Trade to provide market liquidity services to Ramp is subject to acceptance of the TSX Venture Exchange.
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 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/250138
