News for 'RCKE' - (Rock Energy Resources Provides June Month-End Update For Gold Mining Operations In Colorado)
HOUSTON, July 17, 2012 /PRNewswire via COMTEX/ -- Rock Energy Resources, Inc.
(OTCQB: RCKE) today provided its monthly update on mining and related matters to
the Company for the mon! th of June 2012.
Mining: 232 tons of ore were mined in June, of which 65 tons were shipped to our
demonstration mill. Approximately 260 additional tons of ore are stockpiled to
date in underground ore chutes. Stope development and ore production are
underway. Westward drift extension will begin in August.
Milling and Refining: 70 tons of ore were milled in June, 5 tons being taken
from previous stockpiles. Our larger demonstration mill facility has been on
line now for the past month with improvements being made daily for higher
recovery rates.
Refining options for gold sales and platinum group metals resulted in the
purchase of a concentrating table used to upgrade gravity concentrates. The
table was installed June 22 and has been used to upgrade concentrates while
waiting for additional equipment to be delivered in the coming weeks.
Sales and Inventory: Approximately 30 ounces of gold concentrates were produced
whi! ch are being processed on a table used specifically for upgrading grav ity
concentrates to a salable product. To date we have accumulated in excess of
1,000 lbs. of high grade concentrate. We will begin an aggressive refining and
sales process of these valuable concentrates when ordered equipment installation
is complete.
Coring and 43-101 Activity: In furtherance of our priority to produce SEC Guide
7 compliant resources and reserves, over the past month we have completed 5 core
holes. Hole depths have ranged from 416 to 485 feet. Based on considerable
encouragement from these first five holes, a sixth core hole has been taken
substantially deeper and is planned to extend to a depth of 3,500 feet. As of
this date that sixth core hole is at a depth of 2,130 feet and continues to
drill ahead based on highly encouraging results. Significant sulphide
mineralization has been encountered and has been shipped to a certified lab for
assays. Core logging, examination, splitting and assay work is underway. This!
early analysis leads us to believe that our estimates of potential reserves will
be substantiated with this work and with additional planned deeper drilling.
Geology and engineering reports will be forthcoming.
Ore grades are based on historical production records and have been averaged
throughout the mine. The Red Arrow Mine has a history of high grade ore pockets
in the vein structure. Eleven samples were taken at 10 ft. intervals along the
strike of the current work area in the Gold Run stope with the ore averaging
well over 1 ounce gold per ton. At least 1 ounce silver is also present. One of
the 11 control assays was 26.5 ounces gold per ton along with 7.47 ounces silver
per ton. Assays were performed by a highly reputable Colorado assay firm.
Duplicate samples are being prepared for shipment to a certified assay lab and
will include platinum group metal results.
Land Activities: As previously noted, we expanded our land ! activities based upon
aero-magnetic surveys and now hold approximat ely 2,500 acres of claims and fee
lands. We believe these holdings sufficiently cover our areas of interest at
both our existing mine portal levels as well as the potentially much larger
deeper horizons. At the time of acquisition in December of last year our land
position was 690 acres.
Purchase of Remaining 51% of Red Arrow Gold Corporation: Rock Energy Resources,
Inc. and Red Arrow Gold Corporation are continuing to work on finalizing the
purchase of the remaining 51% of the Red Arrow Corporation. Based on our current
agreement, Rock Energy has provided all capital for the Red Arrow project and
owns 100% of the revenues. All claims and equipment are currently in American
Patriot Gold until 100% of the Rock Energy investment is returned. At that time
the revenue split will revert to 51%-49%. We are diligently working with Red
Arrow on acquiring several notes from current note holders of Red Arrow Gold
Corporation, as part of the p! urchase
Guidance: We continue to project positive cash flows for our third quarter of
2012.
Website: Please visit www.americanpatriotgold.com for updated drilling reports
and photos.
Cautionary Statements
CAUTIONARY STATEMENT REGARDING FUTURE RESULTS AND FORWARD-LOOKING STATEMENTS:
This Web site and press release contains information, including statements as to
the Company's future financial or operating performance, that constitute
"forward-looking statements" within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended, which statements are intended to be covered by the safe harbor
created by such sections and other applicable laws. All statements, other than
statements of historical fact, are forward-looking statements. The words
"believe", "expect", "anticipate", "contemplate", "target", "plan", "intends",
"continue", "budget", ! "estimate", "may", "will", "schedule" and similar
expressions ident ify forward-looking statements. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that, while
considered reasonable by the Company, are inherently subject to significant
business, economic and competitive uncertainties and contingencies. Known and
unknown factors could cause actual results to differ materially from those
projected in the forward-looking statements. Such forward-looking statements
include, without limitation: (i) estimates of future mineral production, results
and sales; (ii) estimates of future costs applicable to sales, other expenses
and taxes, for specific operations and on a consolidated basis; (iii) estimates
of future capital expenditures, construction, production or closure activities;
(iv) statements regarding future exploration potential, asset potential,
potential resource expansion and targeted production; (v) estimates and
expectations regarding reserves, nonreserve min! eralization and potential ounces;
(vi) statements regarding fluctuations in capital and currency markets; (vii)
statements regarding potential cost savings, productivity, operating
performance, and cost structure; (viii) expectations regarding the development,
growth, mine life, production and costs applicable to sales and exploration
potential of the Company's projects; and (ix) expectations regarding the impacts
of operating technical or geotechnical issues in connection with the Company's
projects or operations. Estimates or expectations of future events or results
are based upon certain assumptions, which may prove to be incorrect. Such
assumptions, include, but are not limited to: (i) there being no significant
change to current geotechnical, metallurgical, hydrological and other physical
conditions; (ii) permitting, development, operations and expansion of the
Company's projects being consistent with current expectations and mine pl! ans;
(iii) certain price assumptions for gold, copper and oil; (iv) certain effective
tax rate assumptions (v) prices for key supplies being approximately consistent
with current levels; and (vi) the accuracy of our current mineral reserve and
mineral resource estimates. Where the Company expresses or implies an
expectation or belief as to future events or results, such expectation or belief
is expressed in good faith and believed to have a reasonable basis. However,
forward-looking statements are subject to risks, uncertainties and other
factors, which could cause actual results to differ materially from future
results expressed, projected or implied by such forward-looking statements. Such
risks include, but are not limited to, gold and other metals price volatility,
currency fluctuations, increased production costs and variances in ore grade or
recovery rates from those assumed in mining plans, political and operational
risks in the jurisdiction in which we operate, changes in governmental
regulatio! n, including taxation, environmental, permitting and other regulations,
and judicial outcomes The Company does not undertake any obligation to release
publicly revisions to any "forward-looking statement," to reflect events or
circumstances after the date of publication, or to reflect the occurrence of
unanticipated events, except as may be required under applicable securities
laws.
Contact: Rocky V Emery Chairman & CEO Rock Energy Resources, Inc.Managing Member
American Patriot Gold10350 Richmond AvenueSuite 800Houston, Texas
77042www.americanpatriotgold.comRemery@americanpatriotgold.comO: 713-400-3013C:
832-691-7991
SOURCE Rock Energy Resources, Inc.
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Copyright (C) 2012 PR Newswire. All rights reserved
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KEYWORD: Texas
&nb! sp; Colorado
INDUSTRY KEYWORD: OTC
MIN
MNG
PRM
