Initial exploration program successfully targets Carlin type gold mineralization at three areas in the Kyrgyz Republic

Kelowna, B.C., October 18, 2019 – Rockwealth Resources Corp. (“Rockwealth” or the “Company”) (TSXV: RWR) is pleased to announce that Realgold Resources Corp. (“Realgold”) has updated results for its ongoing 2019 exploration on its Carlin-type gold portfolio project located in the southwest Kyrgyz Republic (the “Uluktau and Alai-Karabiy Gold Project”). This update provides gold assay results received to date from core drilling and channel sampling of surface trenches on three areas on Realgold’s high priority Uluktaui and Alai-Karabiy (North Karabiy and Slantsevyi Klin) project.  A total of twelve drill holes have been successfully completed from surface and all assays received; five holes at North Karabiy and seven holes at Slantsevyi Klin. Of particular note is hole DH-SK-03_19 at Slantsevyi Klin, which hit multiple intervals including 15m @ 3.2 g/t Au including 4m @ 6.1 g/t Au.  Assays have also been received from channel sampling on nine trenches: five at North Karabiy and four trenches at Uluktau. Of particular note is trench NK-4 at North Karabiy, which returned an interval of 14m @ 7.8 g/t Au including 3m @ 27.1 g/t Au and trench UK-54 at Uluktau, which returned an interval of 5.2m @ 15.3 g/t Au.

Program Highlights

North Karabiy Area

  • Five holes completed in 512.1m with two holes restarted due to technical problems with drilling
  • All holes intersected mineralized intervals in widths ranging from 1.0 to 5.0m
  • Results include hole DH-NK-5bis: 3m @ 5.3 g/t Au (149.0m to 152.0m), including 1m @ 10.3 g/t Au (149.0m to 150.0m)
  • Sampling at five surface trenches completed
  • All trenches intersected gold mineralization
  • Results include trench NK-4 with intervals such as 0m @7.8 g/t Au including 3m @ 27.1 g/t Au

Slantsevyi Klin Area

  • Seven holes completed in 284.9m including one hole restarted due to technical problems with drilling
  • Four holes intersected gold mineralized intervals in widths ranging from 1.0 to 15.0m
  • Results include hole DH-SK-03_19 which hit multiple intervals such as 15m @ 3.2 g/t Au (9.0m to 24.0m) including 4m @ 6.1 g/t Au (11.0m to 15.0m)

Uluktau Area

  • Sampling at four surface trenches completed
  • All trenches intersected mineralization
  • Results include trench UK-63 with intervals such as 0m @5.9 g/t Au including 1m @ 25.6 g/t Au and 2m @ 7.7 g/t Au

 

Doug Kirwin, CEO of Realgold commented,This is a very positive exploration milestone at our Uluktau and Alai-Karabiy Project and follows recent high-grade drill results at Uluktau, where drilling in 2017 in hole DHU-08-2017 intersected 21m @ 33.7 g/t Au. Our portfolio, situated in the southwest area of the democratically elected, politically stable and pro-mining Kyrgyz Republic, lies within the Tien Shan Mineral Belt.  Realgold’s extensive portfolio covers 90% of the newly recognized and underexplored Carlin-type gold belt in the Kyrgyz Republic and importantly, our drilling and trenching programs continue to confirm the strong potential of our properties.”

 

Technical Details

Alai Group

The Alai group constitutes a land package that covers 10,909 ha.  Alai is comprised of four separate areas; The North Karabiy area is part of the Alai group.  Karabiy is located on the western extent of Alai and North Karabiy represents the northern region of Karabiy. The property is located is immediately east of the city of Kadamjai.  Access to the area is from Osh via the national highway to Kadamjai and then by provincial roads. The area is sub mountainous terrain with local relief ranging from 1100m to 1900m.

The Alai-Karabiy area and environs were extensively studied and prospected by the Soviets for antimony, mercury and arsenic, with the most modern exploration conducted in the 1960s through to the 1990s.  Antimony-mercury mineralisation was established within a set of stibnite-cinnabar-bearing jasperoid horizons associated with thrust faults. These jasperoidal rocks form relatively thin, brecciated, lenticular horizons associated with thrust faults and proximal to the contact of the Carboniferous limestone formation with the Siluro-Devonian sediments. These thrust faults are offset laterally in an imbricate NE-SW pattern by a later stage of faulting.

 

North Karabiy

In 2019, a total of five core holes were completed on North Karabiy, which included 2 restarts where holes were prematurely terminated due to technical issues with drilling.  In addition, a total of 5 surface trenches were exposed, mapped and channel sampled.  Results of the drill holes are detailed in Table 1 and results of surface trenching are detailed in Table 2.

Table 1: North Karabiy Core Drilling

Composite Parameters

  1. Minimum Width: No minimum width
  2. Interval Grade Cut-Off: 1 g/t Au
  3. Maximum Interval Internal Dilution: Maximum of 1 sample <1 g/t Au

 

Table 2: North Karabiy Surface Trench Channel Sampling – Composited Intervals

Composite Parameters

  1. Minimum Width: No minimum width
  2. Interval Grade Cut-Off: 1 g/t Au
  3. Maximum Interval Internal Dilution: Maximum of 1 sample <1 g/t Au

 

Hole by Hole Summary

DH-NK-1-19
DH-NK-1-19 was collared as a vertical hole designed to confirm the mineralized zone exposed in trench 19NKT01 (9 m @ 8.37 g/t) and completed to a depth of 40.0m. A weakly anomalous gold value was intersected within a brecciated and jasperoidized limestone.  Anomalous pathfinder elements of arsenic, thallium and antimony were encountered in this interval grading; 180 ppm As, 3 ppm Tl and 3,022 ppm Sb.

DH-NK-2-19
DH-NK-2-19 was an angled hole designed to confirm the mineralized zone exposed in trench 19NKT03 (6 m @ 2.02 g/t) and completed to a depth of 29.0m.  Gold mineralization was intersected in the top of the hole from 0m to 1m depth grading 1m @ 1.2 g/t Au in jasperoids. Anomalous pathfinder elements of arsenic, thallium and antimony are present in this mineralized interval with grades over the interval of; 1,756 ppm As, 9 ppm Tl and 850 ppm Sb.  From 0m to 6m, a zone of weakly anomalous gold mineralization returned 6m @ 0.6 g/t Au.  Anomalous pathfinder elements of arsenic, thallium and antimony are present in this mineralized interval with grades over the interval of; 1,525 ppm As, 7.5 ppm Tl and 647 ppm Sb.

DH-NK-3-19
DH-NK-3-19 was an angled hole designed to confirm the mineralized zone exposed in trench 19NKT02 (3 m @ 5.48 g/t) completed to a depth of 38m.  Gold mineralization was encountered in a zone of tectonic breccia with fragments of siltstone and sandstone and limonitization in fractures within fault gouge in an interval of 2m @ 6.2 g/t Au (0.0m to 2.0m depth).  Anomalous pathfinder elements of arsenic, thalium and antimony were elevated in this zone with grades of; 2,249 ppm As, 11.5 ppm Tl and 58 ppm Sb.

DH-NK-4-19
DH-NK-4-19 was an angled hole designed to confirm the mineralized zone exposed in trench 19NKT04 (14 m @ 7.79 g/t), terminated at a depth of 5.7m due to problems with the drill.   Gold mineralization was encountered in a narrow interval 0f 0.7m @ 4.6 g/t Au within jasperoid.  Anomalous pathfinder elements of arsenic, thalium and antimony were encountered in this interval with interval grades of; 2,391 ppm As, 12 ppm Tl and 92 ppm Sb.  The entire interval consisted of tectonic breccia with blocks and fragments of jasperoid.

DH-NK-4bis-19
DH-NK-4bis-19 was an angled hole designed to confirm the mineralized zone exposed in trench 19NKT04 (14 m @ 7.79 g/t) and completed to a depth of 50.6m.  The hole was a redrill of DH-NK-4-19.  Two intervals of gold mineralization were encountered in this hole.  Gold mineralization was intersected from 4.0m to 9.0m grading 5m @ 2.7 g/t Au in a tectonic breccia with jasperoid.  Within this interval, elevated pathfinder pathfinder elements of arsenic, thallium and antimony graded; 758 ppm As, 5 ppm Tl and 21,543 ppm Sb .  Stibnite was found throughout this interval (as pockets and veinlets and also disseminated).  A second zone of gold mineralization was intersected from 36m to 38m grading 2m @ 1.6 g/t Au within a limonitized tectonic breccia consisting of sandstone and siltstone fragments.  Within this interval elevated pathfinder elements of arsenic, thallium and antimony graded; 2,669 ppm As, 12.5 ppm Tl and 105 ppm Sb.

DH-NK-5-19
DH-NK-5-19 was collared as a vertical hole designed to confirm the mineralized zone intersected by historic Soviet-era DH 46 (7.83 g/t Au @ 7.95 m) and DH46а (7.4 g/t Au @ 15.3 m). The hole was terminated at 164.0m due to drill breakdown.  No downhole survey data exists for these historic Soviet holes, so positioning of historic mineralization is unknown.   Gold mineralization was encountered in a 3m wide interval from 148m to 151m (3.0m @ 1.1 g/t Au) hosted in a brecciated black, carbonaceous and pyritized shale above jasperoids.  Within this interval elevated pathfinder elements of arsenic, thallium and antimony graded; 1,035 ppm As; 8 ppm Tl; and 75 ppm Sb.

DH-NK-5bis-19
DH-NK-5bis-19 was collared as a vertical hole designed to confirm the mineralized zone intersected by historic Soviet-era DH 46 and DH46а. No downhole survey data exists for these historic Soviet holes, so positioning of mineralization is unknown.  The hole was completed to a depth of 184.8m.  Three zones of gold mineralization were encountered ranging in widths from 2m to 3m in this hole.  An upper zone was intersected in jasperoid breccia above limestone from 138m to 140m grading 2m @ 2.6 g/t Au and with elevated pathfinder elements of arsenic, thallium and antimony grading; 1,230 ppm As, 9 ppm Tl, and 1,857 ppm Sb.  A unit of tectonic breccia with fragments of black, silicified, carbonaceous and weakly pyritized shale, jasperoid and sandstone was encountered from 149m to 166m with elevated pathfinder elements of arsenic, thallium and antimony grading; 929 ppm As, 6.35 ppm Tl, and 2,059 ppm Sb over the interval.  Two gold mineralized zones were encountered in this interval with the upper zone (149m to 152m) grading 3m @ 5.3 g/t Au and the lower interval (163m to 166m) grading 3m @ 1.4 g/t Au.

Slantsevyi Klin
The Slantsevyi Klin area is part of the Karabiy area of the Alai group. Slantsevyi Klin is located on the western region of Karabiy.

In 2019, a total of six core holes were completed on North Karabiy, which included 1 restart where the hole was prematurely terminated due to technical issues with drilling.  Results of the drill holes are detailed in Table 3.

Table 3: Slantsevyi Klin Core Drilling – Composited Intervals

Composite Parameters

  1. Minimum Width: No minimum width
  2. Interval Grade Cut-Off: 1 g/t Au
  3. Maximum Interval Internal Dilution: Maximum of 1 sample <1 g/t Au

 Hole by Hole Summary

DH-SK-1-19
DH-SK-1-19 was an angled hole designed to confirm the mineralized zone exposed in trench 18SKR02 (29 m @ 2.95 g/t) and completed to a depth of 46.2m.  The hole encountered jasperoid from surface to 9.15m and followed by limestone from 9.15 to the end of hole.  Anomalous gold values of 10m @ 0.3 g/t Au in jasperoid were encountered in the top of the hole.  Anomalous important pathfinder elements including arsenic, thallium and antimony are present within this mineralized interval with average interval grades; of 1,023 ppm As, 13.7 ppm Tl, 79.3 ppm Sb.

DH-SK-2-19
DH-SK-2-19 was an angled hole designed to confirm the mineralized zone exposed in trench 18SKR02 and completed to a depth of 23.5m.  The hole was drilled south to north towards hole DH-SK-1-19. The hole encountered jasperoid from surface to 13.4m and followed by limestone from 13.4m to the end of hole.  A mineralized interval of 3m @ 1.3 g/t Au was intersected in jasperoid at the top of the hole.  Anomalous important pathfinder elements including arsenic, thallium and antimony are elevated within this interval with average grades of; 1,372 ppm As, 15.7 ppm Tl; and 1,936 ppm Sb.

DH-SK-3-19
DH-SK-3-19 was an angled hole designed to confirm the mineralized zone exposed in trench 18SKR10 (71 m @ 2.74 g/t) and completed to a depth of 80.0m. The hole intersected jasperoid from the top of hole to 43m and followed by limestone from 43m to end of hole.  Multiple zones of gold mineralization were encountered in the jasperoid between 3.0 to 43.0m depth with interval widths ranging from 4.0m to 15.0m wide.  Anomalous pathfinder elements of arsenic, thallium and antimony were present throughout the entire jasperoid unit with grades over a 40m interval (from 3.0m to 43.0m) of; 1,767 ppm As, 13.86 ppm Tl, and 1,049 ppm Sb.

DH-SK-4-19
DH-SK-4-19 was an angled hole designed to confirm the mineralized zone exposed in trench 18SKR10 and completed to a depth of 55.0m. The hole was drilled from south to north towards DH-SK-3-19. The hole intersected jasperoid from 1.55m to 9.2m and limestone from 9.2m to end of hole.  Anomalous gold values of 9m @ 0.13 g/t Au within the jasperoid at the top of the hole was encountered.  In addition, pathfinder elements of arsenic, thallium and antimony were elevated in this interval with average grades of; 791 ppm As, 7.1 ppm Tl and 127 ppm Sb.

DH-SK-5-19
DH-SK-5-19 was an angled hole designed to confirm the potential of a north-south trending feeder structure, located west of the mineralized zone exposed in trench 18SKR10 and terminated at a depth of 16.0m due to technical problems with the drill.  Jasperoid was encountered at the top of hole to the end. A narrow zone of gold mineralization of 1m @ 1.2 g/t Au was encountered at the top of hole. Anomalous pathfinder elements of arsenic, thallium and antimony were elevated in this interval, with grades of; 1,626 ppm As, 7 ppm Tl, and 872 ppm Sb.

DH-SK-5bis-19
DH-SK-5bis-19 was an angled hole designed to retest the target from DH-SK-5-19 and terminated at a depth of 18.9m due to technical drilling problems. Jasperoid was encountered at the top of hole to the end.  Gold grades did not exceed 0.096 g/t.

DH-SK-6-19
DH-SK-6-19 was a vertical hole designed to confirm the mineralized zone exposed in trench 18SKR18 (17 m @ 1.86 g/t) and completed to a depth of 45.3m. The hole intersected jasperoid from the top of hole to 8.7m and followed by limestone from 8.7m to end of hole. Gold mineralization was encountered in jasperoids near the top of the hole from 1.2m to 3.0m depth (1.8m @ 1.8 g/t Au).  Anomalous pathfinder elements of arsenic, thallium and antimony were elevated within this interval with grades of; 1,638 ppm As; 12 ppm Tl; and 183 ppm Sb.

Surface trenches were exposed and sampled on both the North Karabiy and Uluktau areas, with strongly mineralized results encountered on both properties.  Results of trenching are detailed below in Tables 3 and 4.

Uluktau Group

The Uluktau area covers 6,147 ha.  The property is located 38 km west southwest of the provincial capital city Osh. Access to the area is via national highway and provincial roads. The area is largely rolling hills with the steeper parts associated with limestone outcrops.

Uluktau contains the abandoned Chonkoi mercury mine in the eastern part of the license. The mine operated during Soviet times, which in turn led to an extensive drilling campaign in the surrounding district in search of other mercury deposits by the Soviets. This work included geologic surface and underground mapping at various scales and drilling (485 diamond drill holes within or nearby the Uluktau license area).

In 2019, a total of 4 surface trenches were exposed, mapped and sampled.  Results of trench sampling is detailed in Table 4.

Table 4: Uluktau Surface Trench Channel Sampling

Composite Parameters

  1. Minimum Width: No minimum width
  2. Interval Grade Cut-Off: 1 g/t Au
  3. Maximum Interval Internal Dilution: Maximum of 1 sample <1 g/t Au

All core measurements reported in this news release are down-hole, and not representative of true-thickness.  At this early stage of exploration, true thicknesses are unknown.

Quality assurance / quality control (QA/QC) measures included samples from the drill core are cut in half by core saw in half sections on site and where possible, samples are standardized at 1.0m down-hole intervals. One-half of the split sample is sent for assaying and half remains on site for reference.  Channel samples in trenches are continuous samples, and where possible are standardized at 1.0m intervals.  All samples were sent to Stewart Assay and Environmental Laboratories LLC in Kara Balta, Kyrgyz Republic (which is independent of Rockwealth and Realgold) for analysis which includes fire assay for gold, Au-AA25, 30g fire assay-lead collection with AA finish, with a detection range of 0.01-100ppm. The internal QA/QC program at this independent laboratory includes routine duplicate, blank, and certified reference standard analysis throughout the sample preparation and analysis. Realgold did not detect any significant QA/QC issues during its review of the data.

Qualified Person

The scientific and technical information contained in this news release as it relates to Realgold and its properties has been reviewed and approved by Doug Kirwin, CEO of Realgold and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Kirwin verified the data disclosed which includes a review of the analytical and test data underlying the information and opinions contained therein.

About Realgold Resources Corp.                      

Realgold has assembled an extensive land portfolio in the Kyrgyz Republic with Carlin type potential. The 16 properties in 28 licenses covering 274,124 ha is situated within the prolific Tien Shan gold belt and was acquired by staking. The orogenic gold deposits of the Tien Shan Mineral Belt include some of the largest economic gold accumulations in the world. The region is host to several giant gold deposits, including the world’s single largest operating gold mine (Muruntau in Uzbekistan) to the west and the giant Kumtor mine in eastern Kyrgyzstan to the east end of the belt.  Carlin type deposits are the most important source of gold in the United States and the Tien Shan belt within the Kyrgyz Republic is now recognized as hosting the 2nd largest confirmed Carlin terrain in the world.  Realgold licenses cover 90% of newly recognized and unexplored Carlin type gold belt.

 Qualified Person

The scientific and technical information contained in this news release as it relates to Rockwealth has been reviewed and approved by Ross McElroy, a director of the Company and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

 ON BEHALF OF THE BOARD                                            

Realgold Resources Corp.                                                 

Douglas Kirwin
Chief Executive Officer

Rockwealth Resources Corp.

Dev Randhawa
Chief Executive Officer

Phone: 1-250-868-8177

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Cautionary Statement:

Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”.  Forward looking statements contained in this press release may include statements regarding the potential of the properties, the future operating or financial performance of Realgold which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company and Realgold disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.