Toronto, ON – February 16, 2017 – Rockcliff Copper Corporation (“Rockcliff” or the “Company”) (TSX.V: RCU) (FRANKFURT: RO0, WKN: A142TR) is pleased to announce it has acquired by staking the Penex zinc property (the “Property”), Snow Lake, Manitoba. The Property is strategically located approximately 4.5 kilometres southwest of Hudbay Minerals Inc.’s (“Hudbay”) high-grade Volcanogenic Massive Sulphide Lalor mine and less than 200 metres from Hudbay’s historic high grade Pen zinc deposit. The Property hosts the down dip continuation of the high grade Pen zinc deposit and now becomes part of the Company’s Snow Lake Project, one of the highest grade base and precious metals property portfolios in North America. The Snow Lake Project is located in the Snow Lake mining camp located within the prolific Flin Flon-Snow Lake greenstone belt hosting high-grade precious and base metal deposits and mines.
Ken Lapierre, President and CEO of Rockcliff commented, “Staking of the Penex zinc property containing the down dip continuation of the high grade Pen zinc deposit was very strategic and timely. It underpins our commitment to acquire properties either by staking or acquisition that have significant metal potential within trucking distance to milling facilities in this world class base and precious metals camp. We feel confident that our 100% owned Penex zinc property will become a very strategic asset for Rockcliff.”
Hudbay’s high grade Pen zinc deposit hosts multiple zinc-rich lenses, strikes northeast-southwest and dips/plunges northwest. The deposit is located less than 200 metres on surface from the Property’s southern boundary. All lenses of the Pen zinc deposit dip towards the Property’s southern boundary and at least one of the zinc-rich lenses dips and plunges onto the Property at a vertical depth of between 300-350 metres. The deepest historical drill hole (CPen-03) on the Property intersected the deposit at approximately 475 metres vertical. The hole assayed 6.7% zinc equivalent across 2.6 metres within a much thicker zinc envelope of 7.6 metres grading 4.0% zinc equivalent. Bore hole geophysics completed in drill hole CPen-03 confirmed that the deposit’s conductivity continued downward within the Company’s Property and was strengthening at depth below the hole in an area completely untested by drilling.
Rockcliff’s fully permitted surface geophysical Deep Penetrating ElectroMagnetic (DPEM) survey has commenced on the Property. The DPEM survey will assist in determining the extent and depth potential of the conductivity related to the Pen zinc deposit on the Company’s Property and will provide a framework for a diamond drilling program planned in 2017.
The following Pen zinc deposit longitudinal outlines the depth potential of the Pen zinc deposit above and below drill hole CPen-03. Borehole geophysics confirmed that the conductivity of the deposit was strengthening at depth below the hole.
Talbot Property Update:
Rockcliff continues its Phase 2 diamond drill program on the Talbot property. Three holes will test geophysical conductive plates below the north copper zone located 2.5 kilometres from the Talbot deposit and the north lens deep conductive plate located immediately below the Talbot deposit’s north lens. The north lens deep conductive plate measures 300 metres by 600 metres and drilling will attempt to determine the economic significance of this plate.
The image below identifies the location of the north lens deep conductive plate to be drilled located below the Talbot deposit north lens and additional plates located in close proximity to the high grade gold-rich Talbot copper deposit.
Pursuant to an option agreement Rockcliff can earn a 51% interest in the Talbot property from Hudbay. Please refer to the news release dated October 11, 2016 for specific terms of the option agreement.
Ken Lapierre P.Geo., President and CEO of Rockcliff, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this press release
Please visit Rockcliff at the PDAC in the Investors Exchange at Booth #2816, between the dates of Sunday March 5 to Wednesday March 8, 2017 at the Toronto Convention Centre-South Building.
About Rockcliff Copper Corporation
Rockcliff is a Canadian resource exploration company focused on the discovery, advancement and consolidation of the highest grade unmined metal deposits in the prolific Flin Flon – Snow Lake (FF-SL) greenstone belt specifically centered on Snow Lake, MB. The Snow Lake Project, totalling in excess of 45,000 collective hectares is located in and around the Snow Lake mining camp and hosts the highest grade unmined NI 43-101 copper deposits (the gold-rich Talbot copper deposit and the Rail copper deposit), the highest grade unmined historical zinc deposits (the Lon zinc deposit, the Bur zinc deposit, the Morgan zinc deposit and the down dip continuation of the Pen zinc deposit). The Snow Lake Project also includes a high grade former lode gold producer (Laguna gold property), a Net Smelter Royalty (NSR) on the Tower property (the T-1 copper deposit) in the FF-SL greenstone belt and the near surface MacBride zinc deposit located north of Snow Lake near Leaf Rapids, Manitoba. Additionally, Rockcliff owns a zinc-silver rich NI 43-101 Resource (the Shihan deposit) in Ontario and a royalty on two gold properties in Colombia, South America.
Rockcliff is well funded with approximately CDN$1.5 million in its treasury and no debt.
Cautionary Note Regarding Forward-Looking Statements: This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements.
All statements within, other than statements of historical fact, are to be considered forward looking. Although Rockcliff believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.
Neither 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.
For further information, please contact:
Rockcliff Copper Corporation
Ken Lapierre, P.Geo
President & CEO
Cell: (647) 678-3879
Off: (416) 644-1752
CHF Capital Markets
Cathy Hume, CEO
Phone: (416) 868-1079 ext.231