Renaissance Us Growth Invst Share Discussion Threads

[stu31] 04/4/2024 23:47

Significant Copper and Gold Mineralization Located on Georgetown Project, Australia
20/03/2024 10:30am

Rugby Resources Ltd., (“Rugby” or the “Company”;) (TSX-V: RUG) is pleased to report that recent exploration by Rugby’s joint venture partner, EMU NL (“EMU”) (ASX: EMU) at Georgetown has located significant copper and gold mineralization. EMU’s geological assessment and geochemical sampling program was designed to assess a number of higher-priority prospects (see Figure 3 below).
Highlights

Visible gold in pan concentrate and a six-gram crystalline gold nugget discovered at Camp Oven Creek Prospect (“Camp Oven”). See Figures 1 and 2.
Fiery Creek Copper Prospect (“Fiery Creek”) surface rock assay results report up to 23.5% copper.
Sampling results highlight strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
Fiery Creek/Yataga surface rock polymetallic results assayed up to 0.27ppm gold, 460 ppm silver, 1.9% bismuth, 89 ppm indium, 2.7% lead.
Alteration mineralogy, mineralization geochemistry and areal extent of the Fiery Creek quartz-copper bismuth vein swarm strongly suggests a possible porphyry Cu-Mo system nearby.
Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones that require further investigation.
Other prospects identified and sampled within the Georgetown Project, including Snake Creek Prospect returning to 0.20 ppm gold, 390 ppm silver and 22.4% lead.

[stu31] 04/4/2024 23:44

New Mineralized Porphyry Occurrence Discovered at the Cobrasco Copper Project, Colombia
26/02/2024 11:30am

Rugby Resources Ltd. (“Rugby” or the “Company”;) (TSX-V: RUG) is pleased to report that recent surface sampling at Cobrasco has yielded significant copper/molybdenum assay results. In addition, a new molybdenum stockworked porphyry occurrence has been identified approximately 1 kilometre (“km”) northeast of the Cobrasco Central drilling area. Reconnaissance mapping indicates the new molybdenum porphyry may represent a continuation of the primary mineralization intersected in drill holes approximately 1 km to the southwest (see Figure 1).

Highlights

Assays were received for 103 samples comprising 102 rock outcrops and 1 float sample from the October 2023 campaign. This program was centred primarily on the northern portions of the Cobrasco North concession with an emphasis on infill sampling of areas not previously covered in prior programs.
Assays range up to 4.77% copper, 3.98g/t gold, 50g/t silver and 0.09% molybdenum (see Tables 1 & 2 – Assay Summary below). Sample geochemistry confirmed previous areas of Cu-Mo anomalism and extended the area of interest to the NE.
Outcropping quartz tonalite porphyry with quartz stockwork zone was identified to the northeast of the Cobrasco drilling area. Molybdenite mineralization occurs in locally intense stockwork and sheeted veinlets plus disseminations over an area of at least 300m x 400m (see Figures 2 & 3).
Further infill sampling in the Cobrasco Central area returned values up 4.77% Cu (G518009), 2.25% Cu (M426398) and 1.45% Cu (G518005) confirming previously established zones of outcropping mineralization (see Figure 4).
Francisco Montes, Rugby’s Cobrasco Project Manager stated, “Our strategy of continuing mapping and sampling is a cost-effective methodology for further defining the mineralized centres identified to date. The program will continue while we build up to the next core drilling campaign”.

Chairman Yale Simpson stated “Rugby’s exploration program is making copper-molybdenum discoveries with significant surface dimensions. We are relatively early in the exploration-development process, but our success gives us reason to be confident Cobrasco could contribute to Colombia achieving the status of a global contributor to copper production. Copper demand is growing and new mines to meet the needs of clean energy projects, no matter what the technology adopted, will be in short supply. Rugby continues to make progress towards securing a major international mining company as a development partner. Our goal is to significantly advance the pace of exploration and development”.

[stu31] 04/4/2024 23:41

Rugby Resources Ltd. Closes Oversubscribed Non-brokered Private Placement
23/02/2024 8:16pm

Rugby Resources Ltd. (“Rugby” or the “Company”;) (TSX-V: RUG) is pleased to announce that further to the news releases dated February 7 and 12, 2024, it has closed an oversubscribed non-brokered private placement and will issue 19,696,665 units (the “Units”) of the Company at a price of $0.06 per Unit for gross proceeds of $1,181,800 (the “Offering̶1;).
Each Unit consists of one (1) common share and one common share purchase warrant (a “Warrant”;). Each Warrant will entitle the holder thereof to purchase one (1) additional common share of the Company at an exercise price of $0.10 for a period of two (2) years from the Closing Date.

Finder’s fees in an aggregate amount of $31,248 were paid to qualified parties in connection with the Offering. All securities issued pursuant to the Offering are subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws of Canada. Closing of the Offering is subject to receipt of all necessary regulatory approvals and final acceptance by the TSX Venture Exchange.

Proceeds of the Offering will be used for exploration and general expenses.

MI 61-101 Disclosure

Certain insiders of the Company participated in the Offering for an aggregate total of 2,350,000 Units. The participation by such insiders is considered a “related-party transaction” within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company’s market capitalization (as determined under MI 61- 101).

Early Warning Disclosure

Rowen Company Limited (“Rowen”) a company controlled by Bryce Roxburgh, a director and officer of the Company, acquired 2,000,000 Units under the Offering. Prior to the Offering, Bryce Roxburgh and Rowen, held 11.24% of the Company's issued and outstanding common shares on a non-diluted and 14.14% on a fully diluted basis. After giving effect to the Private Placement, Bryce Roxburgh and Rowen beneficially own and control collectively 11.17% of the Company's issued and outstanding common shares on a non-diluted and 14.37% on a fully diluted basis. Rowen and Bryce Roxburgh acquired the Units for investment purposes. Rowen and Bryce Roxburgh intend to evaluate their investment in the Company and to increase or decrease their shareholdings from time to time as they may determine appropriate. A copy of the early warning report being filed by Rowen and Bryce Roxburgh may be obtained by contacting the Company at 604-687-2038.

[stu31] 27/12/2023 22:39

Rugby Update: Surface Sampling on the Cobrasco East Porphyry Discovery Yields
up to 5.4% Copper and 1.4g/t Gold

Vancouver, B.C., October 31, 2023 – Rugby Resources Ltd. (“Rugby” or the “Company”;) (TSX-V: RUG) is pleased to report that recent sampling on the Cobrasco East Porphyry has yielded significant copper, gold and silver values in outcrop and float samples. The discovery (see News Release dated July 11, 2023) is located approximately 2 kilometres (“km”) east southeast of the Cobrasco Central drilling area in Colombia. Mapping indicates the new porphyry has a surface area of approximately 2 km2

Highlights
● Assays were received for 49 float and outcrop rock samples at Cobrasco East. Assays range up to 5.38% copper, 1.40g/t gold and 121g/t silver (see Table 2 Assay Summary below).
● Mineralisation occurs within an area of approximately 2 km2
● The host rock is a fine grained tonalite (felsic intrusive) with brecciation, sulphide copper and locally oxidised copper mineralisation (Figure 2).
● The area is coincident with a large magnetic-low (Figure 3).
● Cobrasco East mineralization has higher gold and lower molybdenum values compared with the Cobrasco Central Porphyry mineralised corridor, inferring a different intrusive centre (Figure 4).
● Grid-spaced sampling and mapping is planned to define the extent of mineralisation as the discovery falls outside the existing grid soil sampling program.
● Age dating for the Cobrasco copper molybdenum porphyry indicates the system was emplaced in the Eocene, some 40-42 million years ago. This is similar to the giant Escondida and Quebrada Blanca porphyries in Chile and the Cascabel porphyry in nearby Ecuador. These porphyries are located in the western cordillera copper porphyry belt which extends from Chile in the south to Panama in the north.
Francisco Montes, Rugby’s Cobrasco Project Manager stated, “Fundamental field work is paying dividends with new areas being defined that urgently merit follow-up work ahead of drill testing. With every field campaign completed by my team, the project grows in stature. From my experience this points towards multiple porphyry deposits and very significant upside’’.
Chairman Yale Simpson stated “We believe Rugby is in the process of defining multiple porphyry copper discoveries that, in due course, will contribute to Colombia achieving its goal of being a global contributor to copper production. Copper is essential for all clean energy projects, no matter what technology is
adopted. Rugby continues to make progress towards securing a major international mining company as a partner. Our goal is to very significantly advance the exploration and development of Cobrasco”.

Rugby’s exploration indicates a marked porphyry corridor extending NW-SE along the margins of the Mande Batholith, with multiple porphyry centres extending along and peripheral to the contacts. These porphyry centres have been partially defined by three methods: soil and rock geochemistry, magnetic lows interpreted to have resulted from magnetite destruction by the invading copper-rich fluids, and thirdly by potassium anomalies delineated by the Company’s airborne magnetic-radiometric surveys.
The Company field team is currently exploring another potential discovery referred to as the Cobrasco North target. Detailed geological mapping and infill sampling on that copper-molybdenum anomaly is being based out of the Cobrasco base camp. Further follow-up work is also planned for the Cobrasco South zone, another interpreted porphyry centre separated from the main Cobrasco mineralising system. Future drill
testing of these discoveries will be warranted.

[stu31] 27/12/2023 22:30

Rugby Resources Ltd. Closes Oversubscribed Non-brokered Private Placement

Vancouver, B.C., November 28, 2023 – Rugby Resources Ltd. (“Rugby” or the “Company”;) (TSX-V: RUG) is pleased to announce that further to the news releases dated November 14 and 27, 2023, it has closed an oversubscribed non-brokered private placement and issued 12,522,540 units (the “Units”) of the Company at a price of $0.05 per Unit for gross proceeds of $626,127 (the “Offering̶1;).
Each Unit consists of one (1) common share and one common share purchase warrant (a “Warrant”;). Each Warrant will entitle the holder thereof to purchase one (1) additional common share of the Company at an exercise price of $0.10 for a period of two (2) years from the Closing Date.
Finder’s fees in an aggregate amount of $9,750 were paid to qualified parties in connection with the Offering. All securities issued pursuant to the Offering are subject to a statutory hold period of four months
plus a day from issuance in accordance with applicable securities laws of Canada. Closing of the Offering is subject to receipt of all necessary regulatory approvals and final acceptance by the TSX Venture Exchange.
Proceeds of the Offering will be used for exploration and general expenses.

[stu31] 09/11/2021 18:54

Rugby Commences Field Work Prior to Drilling the Salvadora Silver-Copper Project, Chile

Tuesday 9 November 2021

Rugby Mining Limited (“Rugby” or the “Company”;) (TSX-V: RUG) reports that field work is underway at its Salvadora project in Chile in preparation for Q1-2022 core drilling. The current program includes airborne magnetics, mapping and talus sampling along the non outcrop portions of the 7 km long alteration system.
Salvadora is located 40 km south of Barrick’s El Indio gold mine in the south of the El Indio gold belt that hosts +44 Moz of gold and 875 Moz of silver*. The Salvadora project was brought into Rugby through the acquisition of Proximo Resources (see News Release dated October 27, 2021). The exploration target is a high-grade silver-copper-gold ore deposit.

Mr. Peter Love, CEO of Rugby commented, “It is exciting to be preparing for drilling at Salvadora as it is a very impressive alteration system. We are fortunate that winter ended early enabling us to get on the ground sooner than expected. Investors can expect continuing updates on Salvadora as we move towards drilling. We will also have news on our El Zanjon gold-silver project in Argentina as work is in progress again on that promising project.”

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Location of the Salvadora Project, Chile

The Salvadora hydrothermal alteration halo is large, suggesting excellent ore potential. During 2020-2021, exploration work comprised road rehabilitation, geological mapping, geochemistry, alteration analysis and remote sensing satellite studies. 218 surface rockchip and continuous channel samples were collected from veins and mineralized exposures within the two main areas of the project. Much of the system is covered by talus (scree) such that artisanal mining on the vein focussed entirely on the limited sites of vein exposure.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Enhanced satellite imagery of the Salvadora project exhibits a prominent 7km alteration zone

Follow-up exploration started in October 2021. Given the extensive talus cover, it is essential to do additional broad-spaced work ahead of drill targeting. To that effect Rugby has engaged New-Sense Geophysics who are currently flying an airborne magnetic/radiometric survey over the entire property. The Company has also prospected and sampled the talus cover between the artisanally mined outcrop areas, with results expected in the coming weeks.

The talus sampling program will be very useful as the exploration team reported visible copper oxide mineralization in talus, well away from artisanal activity. The current program will significantly expand our knowledge of what appears to be a complex system. Drilling is expected to commence early in January 2022.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Sampling of talus material at Salvadora

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Recent aerial photo of a portion of altered talus material where sampling/mapping is underway

View Rugby’s most recent Corporate Presentation

Rugby has filed an independent technical report on SEDAR on the Salvadora project (the “Salvadora Report”) prepared by Dr. Gustavo Delendatti (PhD, B.Sc-Geol, MAIG) dated July 5, 2021, in accordance with NI 43-101. The Salvadora Report can be viewed on www.sedar.com

Paul Joyce, Rugby’s Chief Operating Officer and a “qualified person” (“QP”) within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has verified the technical information that forms the basis for this news release, however some of the information is historical in nature and the Company will be required to do further assessment of this data.

References Cited:

*Barrick 2004, Barrick Gold Corporation, Annual Report, 2004; SEDAR.com

*Barrick 2019, Barrick Annual Information Form for the year ended December 31, 2019; SEDAR.com Jannas, R.R., Bowers, T.S., Petersen, U., and Beane, R.E., 1999, High-sulfidation deposit types in the El Indio district, Chile, in Skinner, B.J., ed., Geology and Ore Deposits of the Central Andes: Society of Economic Geologists, Special Publication 7, p. 219–266.

*Porter 2001, El Indio Belt - El Indio, Tambo, Pascua Lama; Porter GeoConsultancy Pty Ltd, 2001; portergeo.com.au

About Rugby Mining

Rugby is an exploration company focussed on conducting “discovery stage” exploration at Salvadora in Chile. The Company is also advancing the El Zanjon gold-silver project in Argentina. In addition, the Company has projects and property applications in Colombia, the Philippines and Australia. These opportunities have considerable potential for gold, silver and copper discoveries but are secondary at this time to Salvadora and El Zanjon.

The Company benefits from the experience of its directors and management, a team that has either been directly responsible for world-class mineral discoveries or have been part of the management teams responsible for such discoveries. Two successful companies under their management were Exeter Resource Corporation and Extorre Gold Mines Limited, which discovered significant deposits in South America. These companies were purchased by Goldcorp (Newmont) and Yamana Gold respectively.

[stu31] 02/3/2021 18:09

Rugby Starts Third Sampling and Geophysical Programs at El Zanjon, Argentina
02/03/2021 11:30am

Rugby Mining Limited (“Rugby” or the “Company”;) (TSX-V: RUG) is pleased to report that it is starting a third round of soil sampling plus geophysics at the El Zanjon gold-silver project. The program further targets gold-silver geochemical anomalies identified on magnetic features that have been confirmed to be prospective for epithermal gold-silver deposits (Figure 2).
Figure 1: Deseado Massif Gold-Silver District and El Zanjon Project Location

The El Zanjon epithermal gold-silver project was acquired for its regional geologic and geophysical similarities to the Cerro Moro and Cerro Vanguardia gold systems. Negligible work had been done previously in the area. Rugby has now advanced to a point where more detailed work is warranted on gold targets generated to date.

El Zanjon is covered by a veneer of sediments over Chon Aike Formation volcanic rocks. The volcanics are cut by magnetic discontinuities (faults) which appear to be hosting gold mineralization. Previous work by Rugby included ground magnetics and low detection geochemical sampling at 320 meter (“m”) intervals over selected parts of the property.

Field work will follow receipt of routine travel clearances through Covid-19 restricted areas. Soil sampling will be conducted at 160 m intervals (approximately 500 samples). The program will include 50 samples (at 320 m spacing) along two structures in the northern sector of the project area not previously sampled (Figure 2). To assist drill planning, the magnetic coverage will be reduced to 80 m spaced lines over prospective structural flexures.

Paul Joyce, Rugby’s Chief Operating Officer, Director and a “qualified person” (“QP”) within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has verified the technical information that forms the basis for this news release.

[stu31] 23/2/2021 00:56

Rugby Mining Announces CAD$500,000 Non-Brokered Private Placement
19/02/2021 6:59pm

Rugby Mining Limited (“Rugby” or the “Company”;) (TSX-V: RUG) announces that its board of directors has approved a proposed private placement offering of up to 5,000,000 units (the “Units”) at a price of $0.10 per Unit for gross proceeds of up to $500,000 (the “Offering̶1;).
Each Unit will consist of one (1) common share and one half (0.5) common share purchase warrant (a “Half Warrant”). Each full warrant (two (2) Half Warrants together) will entitle the holder thereof to purchase one (1) additional common share of the Company for a period of one (1) year from the date of the close at an exercise price of $0.20.

A material change report relating to the Offering is being filed less than 21 days prior to the closing of the Offering. The shorter period is necessary in order to permit the Company to close the Offering in a timeframe consistent with usual market practice for transactions of this nature.

Closing of the proposed Offering is anticipated to occur on or about March 20, 2021. Closing of the Offering is subject to receipt of all necessary regulatory approvals.

Proceeds of the Offering will be used for exploration and general expenses.

[stu31] 23/2/2021 00:56

Rugby Mining Announces CAD$500,000 Non-Brokered Private Placement
19/02/2021 6:59pm

Rugby Mining Limited (“Rugby” or the “Company”;) (TSX-V: RUG) announces that its board of directors has approved a proposed private placement offering of up to 5,000,000 units (the “Units”) at a price of $0.10 per Unit for gross proceeds of up to $500,000 (the “Offering̶1;).
Each Unit will consist of one (1) common share and one half (0.5) common share purchase warrant (a “Half Warrant”). Each full warrant (two (2) Half Warrants together) will entitle the holder thereof to purchase one (1) additional common share of the Company for a period of one (1) year from the date of the close at an exercise price of $0.20.

A material change report relating to the Offering is being filed less than 21 days prior to the closing of the Offering. The shorter period is necessary in order to permit the Company to close the Offering in a timeframe consistent with usual market practice for transactions of this nature.

Closing of the proposed Offering is anticipated to occur on or about March 20, 2021. Closing of the Offering is subject to receipt of all necessary regulatory approvals.

Proceeds of the Offering will be used for exploration and general expenses.

[rjmahan] 06/2/2021 01:43

This has finally paid out - in my HL account today....

[stu31] 21/12/2020 16:27

Rugby Completes Geochemical Program at El Zanjon Gold-Silver Project, Argentina
21/12/2020 11:30am

Rugby Mining Limited (“Rugby” or the “Company”;) (TSX-V: RUG) is pleased to report the completion of a follow-up soil sampling program at the El Zanjon gold-silver project in Santa Cruz province, Argentina. The program targeted gold-silver geochemical anomalies located on magnetic structures considered prospective for hosting high grade epithermal gold deposits.
Figure 1: El Zanjon regional location showing prominent structures within the ground magnetics survey

In 2019, Rugby conducted ground magnetic surveys which identified structural features considered prospective for gold mineralization beneath gravel cover. The initial geochemical program defined 10 zones of anomalous gold-silver geochemistry ranging from 320m to 2,800m in length along these structures. A number of these anomalies have coincident lower pH readings suggesting an acidic environment which can indicate oxidizing sulfides at depth, an association common to other epithermal projects in the region.

Mr. Bryce Roxburgh, CEO of Rugby commented, “We are using a similar exploration approach to that successfully employed for drill targeting at the multi-million ounce gold-silver Cerro Moro deposit. The El Zanjon area has been ignored in the past due to the absence of outcrop. The magnetic survey delineated structures prospective for gold silver mineralization within the favourable Chon Aike formation. The awaited results are expected to vector us closer to defining specific drill sites. Follow-up work early in 2021 will start as soon as practicable. It will comprise more detailed sampling and geophysics.”

Following the recent Covid-19 related travel clearances our team has completed a detailed follow-up soil sampling program to further define the extent of the gold-silver anomalies outlined by the initial geochemical program. A total of 258 soil samples were collected on 320m spaced intervals and pH readings were recorded for all samples (Figures 2 & 3). Lower pH samples could indicate the presence nearby of sulfides commonly found associated with gold and silver deposits in this region. Samples will be analyzed geochemically by ultra-low detection Ionic-Leach at ALS in Vancouver with the anticipated turnaround time to be approximately 6 weeks. It is anticipated that the results will identify prospective targets for more detailed sampling, magnetic surveying and subsequent drilling.

[johnpickering78] 05/12/2020 23:25

I am looking to buy shares in this. If anyone is interested to sell their holding privately can you send me a message via DM or to my e-mail johnpickering78 at gmail.com.

Let me know how much you want for them / how many you have and I will tell what you need to do / get you your money.

[stu31] 23/11/2020 22:46

Rugby Advances Exploration at El Zanjon Gold Project, Argentina
23/11/2020 11:30am

Rugby Mining Limited (“Rugby” or the “Company”;) (TSX-V: RUG) is pleased to report the commencement of a follow-up soil sampling program at the El Zanjon gold-silver project in Santa Cruz province, Argentina. The program will target gold-silver geochemical anomalies located on magnetic structures considered prospective for hosting high grade epithermal gold deposits (Please click here to view Figure 1).
The El Zanjon epithermal gold-silver project was acquired for its regional geologic and geophysical similarities to the Cerro Moro and Cerro Vanguardia gold systems. Negligible work had been done previously in the area. The project manager, Fernando Chacon, is the geologist who managed the exploration program for Extorre Gold Mines at the Cerro Moro discovery.

El Zanjon is located approximately 35 km south of AngloGold Ashanti's multimillion-ounce Cerro Vanguardia gold mine and 50km southeast of E2 Metals recent greenfields discovery at the Mia prospect (Please click here to view Figure 2).

Mr. Bryce Roxburgh, CEO of Rugby commented, “The Mia discovery by E2 (18 m of 47 g/t gold and 208 g/t silver* in drilling) is the most recent indicator of the prospectivity of this region. Rugby’s project is an entirely greenfields play, yet each program vectors us closer to defining specific drill sites. We like this region a lot.”

El Zanjon is covered by a sedimentary veneer such that outcropping veins would be highly unlikely. Rugby has completed ground magnetics which delineated prominent structures. In addition, low level detection geochemical sampling was conducted over selected parts of this sedimentary cover. This work defined ten zones of anomalous gold-silver geochemistry ranging from 320 m to 2,800 m in length along these structures. A number of these anomalies have coincident lower pH readings suggesting an acidic environment which can indicate oxidizing sulfides at depth, an association common to other epithermal projects in the region.

Following recent Covid-19 related travel clearances our team has commenced a month-long follow-up soil sampling program. A total of 256 soil samples will be collected on 320 m spaced intervals (Please click here to view Figure 3).

*Source: E2 Metals website: hxxps://e2metals.com.au/. This information and results associated to the E2 Metals discovery at the Mia Prospect has not been verified or confirmed by the Company and is only presented for information purposes only.

Paul Joyce, Rugby’s Chief Operating Officer, Director and a “qualified person” (“QP”) within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has verified the technical information that forms the basis for this news release.

[stu31] 06/8/2020 20:27

Drilling Commences at Otways Gold-copper Project, Pilbara in Western Australia
06/08/2020 11:30am


Rugby Mining (TSXV:RUG)

Thursday 6 August 2020


Rugby Mining Limited (“Rugby” or the “Company”;) (TSX-V: RUG) is pleased to announce that joint venture partner Calidus Resources Limited (“Calidus̶0;) recently commenced a drilling program at the Otways Gold Copper Project in the Pilbara (“Otways”;), Western Australia.
Otways was last drilled in the 1970s with very encouraging copper results. Gold was not assayed at that time. Subsequently elevated gold values were returned from trenches within two kilometers (“km”) of the drill holes.

The Pilbara has created significant interest in the Australian mining market with recent major gold discoveries by DeGrey Mining and Calidus itself. The Calidus property, now nearing final feasibility, is located some 50 kms from Otways.

Calidus can earn a 70% interest in Otways by spending A$1.2 million over the next four years, including completing 7,200 meters of drilling, and by issuing A$250,000 in shares of Calidus to Rugby.

[stu31] 31/7/2020 22:01

RUGBY MINING ANNOUNCES CLOSING OF CAD$600,000
NON-BROKERED PRIVATE PLACEMENT
Vancouver, B.C., July 22, 2020 – Rugby Mining Limited (“Rugby” or the “Company”;) (TSX-V: RUG) is pleased to announce that it has closed the non-brokered private placement announced June 29, 2020 (the “Private Placement”), subject to TSX Venture Exchange (“TSX-V”) approval.
Due to exceptional demand, the Company took additional subscriptions over the June 29th, 2020 announcement and will issue 8,937,142 units (the “Units”) at a price of CAD$0.07 per Unit for gross proceeds of approximately CAD$626,000 (the “Offering̶1;). Each Unit consists of one common share in the capital of the Corporation (a“Share”;) and one transferable common share purchase warrant (a “Warrant”;), entitling the holder to purchase one common share in the capital of the Corporation (a “Warrant Share”) for a period of two years from the Closing Date at a price of CAD$0.12 per Warrant Share, provided that if at any time following the date that is four months from the closing date of the offering, that the closing price of the Company’s common shares on the TSX-V is CAD$0.25 or greater per common share during any 10
consecutive trading day period the Warrants will expire at 4.00 p.m. (Vancouver time) on the 30th day after the date on which the Company provides notice of such accelerated expiry to warrant-holders, and the warrant-holders will have no further rights to acquire any common shares of the Company with the Warrant.
Two directors and one officer of the Company, whose applications were reduced due to other investor demand, participated in the Offering and will acquire, directly or indirectly, an aggregate of 375,000 Units.
The participation by insiders in the Offering is considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61- 101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities being issued nor the consideration being paid exceeds 25% of Rugby’s market capitalization.
The Company paid CAD$13,325 as finder’s fees in connection with a portion of the Offering.
All securities issuable pursuant to the Offering are subject to a four month hold period expiring from the date of TSX.V approval.
Proceeds of the Offering will be used to fund Rugby’s exploration expenditures and general expenses

[stu31] 31/7/2020 21:57

13 July 2020
Drilling to commence at the Otways Gold-Copper Project in the Pilbara
Additional drilling planned at Warrawoona Gold Project to increase Reserves
HIGHLIGHTS
• Five RC holes and 1 diamond hole to be drilled at the Otways (Doherty) prospect
where substantial copper intercepts were obtained in historic percussion holes
from surface.
• These drill holes were never assayed for gold and are along strike from trenches
assaying up to 13g/t Au.
• Six reconnaissance RC holes to be drilled at the Malachite Flats prospect targeting anomalous and high-grade gold rock-chip samples of up to 15.8g/t Au over a 600m diameter anomaly.
• Additional geotechnical and metallurgical drilling planned at Warrawoona to
finalise maiden Ore Reserves at Fieldings Gully and Coronation

Calidus Resources Limited (ASX:CAI) is pleased to announce that drilling is about
to commence at its recently acquired Otways project in the Pilbara.
A multi-purpose drill rig is about to commence the initial reconnaissance drilling of two targets (refer Figure One).
Calidus recently entered into a Heads of Agreement with Rugby Mining to earn up to
70% interest in the project north-east of Nullagine1. The same rig will also be used to drill geotechnical and metallurgical holes and diamond tails on recently completed precollars at the Warrawoona Gold Project.
Calidus Managing Director Dave Reeves said the drilling campaign was part of the
Company’s two-pronged strategy of growing mine life and undertaking regional
exploration. He said Otways had numerous enticing targets with large gold and copper prosects. “With the robust economics recently highlighted in the updated pre-feasibility study, we are rapidly heading towards development of the 1.5Moz Warrawoona Gold Project“. Mr Reeves said.
“With this in mind, we are targeting the addition of further reserves at the nearby
satellite deposits of Fieldings Gully and Coronation.
“We are also very excited to be commencing drilling at the Otways prospect, where
historic drilling and rock chips have identified both gold and copper anomalies that demand further testing”.

[envirovision] 10/12/2014 10:33

It wont be worth nothing but it will be interesting, not one I had the balls for though !