Kirkland Lake, Ontario--(Newsfile Corp. - July 11, 2017) - RJK Explorations Ltd. (TSXV: RJX.A) ("RJK") wishes to update the progress on the drilling of Deep Hole 1 at the Maude Lake Gold Property. Drilling was proceeding ahead until reaching 627 meters on the way to a target drill length of 1050 meters. At approximately 620 meters, drilling encountered a zone of ultramafic volcanics at which point the drill rods began binding and drilling had to be suspended. After attempting to correct the problem over a four day period, it was determined that proceeding further was not possible and the hole has now been abandoned.
RJK confirms that there are several ultramafic volcanic units within the stratigraphy, the hole collared in one and ended in a second ultramafic volcanic unit. Various zones of mafic volcanics, felsic volcanics, pillowed mafic volcanics, a diabase dyke and altered mafic volcanics were encountered in the drilling up to the depth the hole was abandoned. Unfortunately, drilling was halted far short of the target drill length of 1050 meters and no significant mineralization was encountered to that point.
RJK is now considering its options, one of which could be to drill a new hole from a different location. The geological and geophysical data relevant to this drill target location as well as the drilling data from the abandoned hole is now being analysed and a determination on the next step will be made shortly.
RJK has closed on the sale of the Blackwater Properties to New Gold Inc. and the $1 million payment has been received. RJK now has approximately $1.1 million in working capital with approximately 18.7 million shares outstanding.
William MacRae, M. Sc. P.Geo, is a Qualified Person as defined under National Instrument 43-101 standards and has reviewed the preparation and approved the technical disclosure in the news release.
