Posted in | Gold

Rockridge Capital Begins Phase II Drilling Program at Fatou Gold Project, Mali

Rockridge Capital Corp. (TSX VENTURE:RRC) has announced that the Phase 2, 15,000 metre diamond drilling program at the Fatou Gold Project in southern Mali is underway.

The programme is designed to test the following:

  • Follow-up of drill intersects from the Phase 1 drill program where intercepts up to 27m grading 3.1g/t Au (see news release dated October 4, 2010) were recorded;
  • Expand the drill testing of the 6km x 500m Fatou gold-in-soil anomaly;
  • Initial drill testing of the 3km x 300m Fininko gold-in-soil anomaly;

Drilling is scheduled to continue until mid December at which time the Company will break for the Christmas period. Drilling is anticipated to resume on January 20, 2011.

The Fatou gold project is located in southern Mali, West Africa, approximately 20 km north of the border between Mali and Cote d'Ivoire, and approximately 250 km southeast of the capital city of Bamako. The Fatou exploration permit covers 250 square kilometres and is accessible via a paved highway and laterite road to the permit area. Starting on October 1st field crews were mobilized to site to extend soil survey and regolith mapping to the west. The program entailed the collection of over 2500 soil samples – results are pending. Detailed geological mapping of the remaining artisanal workings in the Fatou Area was also completed.

Appointment of New Director

The Company is pleased to welcome Edward Ford as an Independent Director of the Company. A Chartered Accountant, Mr. Ford is a leading specialist in all aspects of venture capital and bridge financing, with more than 45 years of experience creating and implementing financial development plans for companies in Canada and the United States. He has extensive experience in securities markets, working with companies listed on the Canadian stock exchanges, and NASDAQ in the United States. Mr Ford will also serve on Rockridge's Audit Committee.

Grant of Incentive Stock Options

The Company also announces that it has granted a total of 1.9 million incentive stock options, with an exercise price of $0.60 to directors, officers, and certain employees and consultants of the Company. The exercise term of these stock options expires on December 7, 2015, and are subject to the terms and conditions of the Company's stock option plan. The grant of stock options is subject to any required regulatory and shareholder approvals.

Source: Rockridge Capital Corp.

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