Drilling Commences At Otways Gold-Copper Project, Pilbara In Western Australia
Vancouver, B.C., August 6, 2020 – Rugby Mining Limited (“Rugby” or the “Company”) (TSX-V: RUG) is pleased to announce that joint venture partner Calidus Resources Limited (“Calidus“) 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.
To view the comprehensive press release from joint venture partner Calidus click here.
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.
About Rugby
Rugby is an exploration company conducting “discovery stage” exploration on highly prospective targets in Colombia, Argentina, the Philippines and Australia. Importantly, Rugby controls a large portfolio of projects and applications in Colombia that have considerable potential for significant gold-copper discoveries.
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. Prior companies under their management included Exeter Resource Corporation and Extorre Gold Mines Limited, which held significant projects in South America. These companies were taken over by Goldcorp (Newmont) and Yamana respectively.