Core samples already in the lab

Canadian exploration company Ramp Metals (TSXV RAMP / WKN A407UW) has barely been listed for more than a month before it has already completed its first drilling program. The drilling was aimed at high-grade copper and nickel mineralization, but as it now turns out, gold is also present on Ramp’s Rottenstone SW property. Incidentally, with the drilling program, Ramp has now acquired 100% of both the Rottenstone SW and the PLD project in accordance with an agreement dating from 2022.

In total, Ramp drilled four diamond core holes as part of the first drill tests at Rottenstone SW, which reached a total length of 1,180 meters. The targets were two conductor structures named Rogue and Ranger, which had previously been classified as particularly promising. Three holes were drilled on Rogue and the fourth hole was drilled on Ranger.

Promising early results

The company was successful in that three of four holes encountered significant intervals of mafic-ultramafic lithologies. In addition, using a Niton XL5 Plus handheld X-ray fluorescence spectrometer, a so-called element analyzer, Ramp was able to detect pyrrhotite mineralization occurring in most of the mafic-ultramafic boulders. The type of mineralization ranged from disseminated to semi-massive.

Drill hole Ranger-01-24, for example, encountered 20 meters of pyrrhotite in ultramafic lithology, with mineralization styles ranging from disseminated to net-textured. Interestingly, samples collected there in October 2023 from boulders and outcrops had returned significant gold grades of 5.11 g/t and 1.09 g/t, among others.

Jordan Black, CEO of Ramp Metals said: “These discoveries demonstrate the potential of our assets and the expertise of our team. We look forward to announcing the results.” However, it will probably be a while before this happens, as the drill cores are still being analyzed in the laboratory.

What happens next?

Ramp Metals will conduct a comprehensive geophysical program to test the Rogue and Ranger conductors and two other untested conductors at Rottenstone SW. The anticipated gold occurrences are adding to the excitement of the project investigation. The company will now also attempt to trace the source of this gold. Information on the exploration program and the possibility of further drill targets and field work will be made available by Ramp as soon as the results from the laboratory are available and the ground geophysical program can be completed.

Conclusion: The tension is rising, because in a few weeks Ramp Metals will now know whether it has correctly assessed the potential of the project and will receive the first indications as to whether the similarities between a structure on the project called Rottenstone Eye and the Nova Eye structure mean anything. Dr. Mark Bennett, now on board with Ramp but then in the employ of Sirius Resources, had discovered Nova Eye in Western Australia – which later became the Nova-Bollinger nickel and copper mine, while Sirius Resources was eventually acquired for AUD 1.8 billion. We are definitely excited about the gold deposits discovered at Rottenstone SW and will most definitely stay tuned.

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According to §34b WpHG and §48f Abs. 5 BörseG (Austria) we point out that GOLDINVEST Consulting GmbH and/or partners, clients or employees of GOLDINVEST Consulting GmbH hold shares in Ramp Metals Inc. and therefore a conflict of interest exists. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares in the company at any time, which may affect the price of Ramp Metals Inc. shares. In addition, GOLDINVEST Consulting GmbH is remunerated by Ramp Metals Inc.  for reporting on the company. This is another clear conflict of interest.

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