VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 8, 2012) - Rockland Minerals Corp. (TSX VENTURE:RL) (the "Company") has completed its 1,558 meter diamond drilling program in a total of 16 holes, strategically spread across the Blue Lake Cu-Ni-Pt-Pd Property located in the Labrador Trough, Quebec. This drilling was to explore and verify the Blue Lake massive sulfides, and results were very encouraging. Initial core logging showed massive and disseminated sulfides, with abundant visible chalcopyrite, at or near the base of a sheet-like ultramafic unit, the lower sill. This was confirmatory drilling, and a number of the holes were drilled outside previously-outlined massive sulfide Cu-Ni-Pt-Pd bodies. The massive sulfide is nickeliferous pyrrhotite (FeS) containing chalcopyrite (CuFeS2) and pentlandite (NiFeS). Sulfide accumulations occur in either of two places -- at the base of the ultramafic intrusive sill, or in the lower third of the ultramafic sill. Widespread disseminated mineralization, characterized by the presence of chalcopyrite in the core, was seen within the ultramafic unit. Photos of some of this drill core have been posted to the Company website at http://www.rocklandminerals.ca/Gallery.php.
Drill core is en-route from Blue Lake drilling to IOS Sérvices Geoscientifiques in Chicoutimi (Saguenay), Québec to be carefully saw-cut and sampled. High platinum and palladium values are expected occasionally in these drill cores. Rockland and the contractor are following a very strict protocol of 15% quartz blanks in the sample stream. Samples will be crushed and pulverized in-house at the IOS Sérvices Geoscientifiques facility. George F. Sanders, P.Geo, a director of the Company, and the Qualified Person under National Instrument 43-101 responsible for the technical content of this news release.
In other news, the Board of Directors has adopted a Corporate Social Responsibility Policy (CSR) for the Company based upon the e3 Plus Initiative of the Prospectors and Developers Association of Canada. The CSR policy has been posted to the Company's website.
The Company announces it has arranged a non-brokered private placement, pursuant to which the investor will purchase from the Company up to 125,000 non flow-through common shares priced at $0.16 per share. Proceeds from this private placement will be used as general working capital. All of the securities issued pursuant to the Private Placement will be subject to a restricted period of four months and one day from the date of Closing. The Private Placement is subject to approval from the TSX Venture Exchange.
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We seek Safe Harbor.
On behalf of the Board of Directors
Rav Mlait, President and CEO
Rockland Minerals Corp.
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 release.