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FINANCIAL ASSISTANCE BEING PROVIDED BY THE QUÉBEC GOVERNMENT TO SITEC QUARTZ INC. TO BUILD 31 KILOMETER HYDRO LINE TO QUARRY SITE.
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SITEC SILICA QUARRY SITE WITHIN 4 KILOMETERS OF ROGUE RESOURCES' LAC DE LA GROSSE FEMELLE SILICA PROJECT
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MACKENZIE ILES WATSON, BSc., P.ENG JOINS ADVISORY BOARD
VANCOUVER, B.C. - Rogue Resources Inc. (TSX-V: RRS) ("Rogue" or the "Company") is pleased to announce that the Government of Québec as part of its 2013-2020 Climate Change Action Plan, will be providing Sitec Quartz Inc., with over $2 million dollars in financial assistance to build a 31 km hydro power line that will connect to the Hydro-Québec power grid. Mine Sitec's quarry and property are located adjacent to Rogue's wholly owned Lac de la Grosse Femelle silica project. This funding will allow the conversion from diesel electricity to hydroelectricity, greatly reducing Mine Sitec's environmental footprint, and is projected to increase productivity, add to its workforce and reduce overall production costs.
"The announcement by the Québec Government of financial assistance through its Eco-Performance Programme to Mine Sitec is significant for Rogue as it brings hydroelectric power within 4 km of our silica project and reaffirms the commitment the Québec government has to job creation and the recovery of the economy in this region," stated Rogue CEO and President, John de Jong. "The opportunity to connect with Hydro Québec, should production be initiated on our silica project, will be economically and environmentally beneficial to Rogue and the region."
Work continues on preparing for an extensive exploration program that has been planned for Rogue's Lac de la Grosse Femelle silica project early in Q2. Preliminary work has begun on site and the permitting process is well underway.
Rogue is pleased to announce that Mr. Mackenzie Iles Watson, B.Sc., P.Eng has joined Rogue as a technical advisor. Mackenzie, better known as Mac, was described best by the Canadian Mining Hall of Fame at his January 2015 induction, and we quote: "Geological acumen, entrepreneurial instincts, and an engaging personality are some of the qualities that contributed to the extraordinary success achieved by Mackenzie Watson during his 50-year career in the Canadian mining industry. His impressive track record of discovery includes involvement in the Holloway gold project in Ontario, chromite deposits in the Ring of Fire district, and the Strange Lake rare earths project in Québec. He also built flagship Freewest Resources into a respected project generator and provided leadership and support to junior companies and industry associations.
Mr. Watson graduated with a BSc in geology from the University of New Brunswick in 1959, and soon after participated in the discovery of the Icon Sullivan copper mine near Chibougamau, Québec. His 1970s successes included Lynx Canada's Long Lake zinc mine in southeast Ontario, the Hebecourt massive sulphide deposit in Québec, and the Ellison gold deposit in Québec, and a thermal coal deposit in New Brunswick. He later became a technical advisor to Q-Vest, which raised $60 million to invest in junior companies during the 1980s.
Mr. Watson came into his own after becoming president of Freewest Resources in 1986. The company's first major triumph was the Holloway gold project east of Timmins. Its discovery led to Freewest being absorbed by Hemlo Gold Mines and development of the deposit as a 1,350-tons-per-day mine. His successor company, Freewest Resources Canada, went on to discover the Clarence Stream sediment-hosted gold deposit in New Brunswick. Freewest later joined a staking rush to the remote James Bay Lowlands of Ontario. Subsequent exploration led to the discovery of the Black Thor and Black Label chromite deposits in the Ring of Fire region, and the 2009 takeover of Freewest by Cliffs Natural Resources. A spin-off company, Quest Uranium, discovered a significant rare earths deposit at Strange Lake in Québec near the Labrador border.
Mr. Watson is the first person to have received the Bill Dennis prospecting success award twice: for numerous discoveries in 1991; and in 2009, as part of the team responsible for chromite discoveries in the Ring of Fire. His success owes much to his willingness to apply new exploration methods and geological concepts. Freewest, for example, was the first to conduct gravity surveys in the Ring of Fire. Watson treated prospectors with respect, which was reciprocated, and shared ideas and information with government geologists. As a result of these alliances, he became the "go-to" person in a number of terranes, most notably the Beardmore-Geraldton, Shebandowan, Hemlo and Ring of Fire districts of Ontario.
Mr. Watson gave back to the industry and society in many ways. He provided bursary and scholarship support to his alma mater, UNB, and Lakehead University. He mentored young geoscientists and served industry associations with distinction. His greatest contribution to society was his foresight in pursuing projects with significant future economic potential, as exemplified by the chromite deposits in Ontario's Ring of Fire and the Strange Lake rare earths project in Québec.
"We look forward to drawing on Mac's formidable expertise as we begin to define our quartzite formations both in size and purity. His record in the Canadian mining industry speaks for itself and we feel honored that he has agreed to provide technical assistance and guidance to us," commented John de Jong.
About the Femelle Silica Project
The Femelle Project is underlain by quartzite sequences with multiple quartzite outcroppings. The quartzites have a high silica content with minimal impurities, generally less than 1%. Commonly referred to as high purity quartz, the silica produced from this type of quartzite is highly sought after.
The Femelle Project is located approximately 42 km north of Baie-Saint Paul, situated on the St. Lawrence River, and 4 km northeast of the Mine Sitec silica mine. The mine has been in operation for over fifty years and hosts 10 quartzites of high silica content horizons, (DPV682 Rondot 1979) with four of the quartzites striking NE towards the Femelle Project, adjacent and contiguous to the NE corner of the Mine Sitec Deposit. Access to the project is via a paved highway and well maintained forestry access roads.
The Québec government recently announced a $382 million investment in FerroAtlantica, one of the world's largest silicon metal producers, which is preparing to build a silicon metal plant at Port Cartier, Québec, located on the St Lawrence River approximately 400 kilometers southeast of the project. This plant is projected to come on stream in late, 2016.
Silica is used as a component for the production of:
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semi-conductors
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LCD displays
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fuse quartz tubing
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microelectronics
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solar silicon applications (solar panels)
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silicon-anode lithium batteries
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quartz kitchen counter tops
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silicon-metal
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ferro-silicon
"The silicon photonics market is expected to increase at a compound annual growth rate (CAGR) of 27.74% from 2014 to $497.53m by 2020," according to the report 'Silicon Photonics Market - Global Trends and Forecasts to 2014 - 2020' from MarketsandMarkets Inc., February 2015.
Qualified Person
The Lac de la Grosse Femelle exploration project is under the direct supervision of Eddy Canova, P Geo., and Senior Vice-President of the Company, a Qualified Persons ("QP") as defined by National Instrument 43-101, assisted by Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., Geo. of Geologica Inc., both independent QPs as defined by National Instrument 43-101. The Company's QP has approved the scientific and technical content of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
John de Jong, CEO & President
For additional information regarding this news release please contact:
John de Jong,
CEO/President
(604) 629-1808
[email protected]
www.rogueresources.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking statements, including timing of completion of exploration work. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims 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 required by law.