Regional Gold Tenement Applications Secured from Major Global Gold Miner
On June 1, 2016, Rugby announced that it had acquired an extensive portfolio of both granted exploration concessions and applications covering approximately 845 square kilometers in Colombia. The acquisition, which includes a substantial geological database, was secured through the purchase of a subsidiary of a major international gold mining company in June 2016.
Under the terms of the agreement, Rugby purchased 100% of the issued and outstanding common shares of the subsidiary. No residual rights to the subsidiary or the Colombian properties were retained by former owner.
The portfolio comprises numerous projects including the El Poma and the Caramanta projects located in the prolific mid-Cauca gold-copper porphyry belt and the Pastora projects which are located in the Bucamaranga belt. These belts are considered prospective for both epithermal and porphyry gold mineralisation. Importantly, the database includes regional scale geochemical and geophysical data over a larger area than just that of the concessions and applications acquired.
El Poma, the sole project with granted tenur in the portfolio, is located in the mid-Cauca Belt (Figure 2).
Gold mineralisation at El Poma is interpreted to be a high grade epithermal style overprinting a larger lower grade porphyry system. The Prospect, discovered in 2009, was defined by a regional stream sediment sampling program. Subsequent ground work and geophysical surveys defined a 2km x 6km porphyry target. *30 diamond drill-holes totaling 14,316 meters were completed.
Three gold targets known as Estrella, El Deleite and La Hermita have been drilled to date. Several attractive targets remain untested within the granted concessions and adjacent applications. These targets are represented by untested geochemical and aeromagnetic anomalies.
Click here for the complete listing of historical drill-hole intercepts above 1.0 g/t gold including the associated drill-hole data, quality control and assurance information. Rugby was not involved in past drilling or assaying of the results presented, however it believes the data are suitable to report in this website.
El Poma's granted concessions and applications are located in a designated coffee growing region known locally as "Eje Cafetero". Even though El Poma is situated in this designated area, exploration employing all relevant modern techniques including drilling is permitted on the granted concessions. It should be noted that the Eje Cafetero region is not a national park, forestry reserve or ethnically protected zone and mineral exploration and extraction are not restricted.
Further technical information on the Pastora, Caramanta and other gold properties will follow subsiquet to the grant of title over these prospective projects.
Certain information contained herein can be considered forward Looking. Please click here to review the Company's cautionary statement for investors. Paul Joyce the Company’s COO, Director and a “qualified person” within the definition of that term in NI 43-101, has supervised the preparation of the technical information contained on this webpage.