Toronto, ON – July 14, 2021 – Rockcliff Metals Corporation (“Rockcliff” or the “Company”) (CSE: RCLF, OTCQB:RKCLF) is pleased to announce the commencement of a new NI 43-101 Preliminary Economic Assessment (“PEA”) for the sequential development of the Company’s 100% owned Tower and Rail projects. The Company filed an initial PEA for the combined projects on January 25, 2021. The purpose of this new PEA is to incorporate the results of an independent desk-top study of the Tower project completed in May of this year. The study concluded that by employing a more traditional alternative mining method, the Company could potentially materially reduce pre-production capital costs at Tower thereby improving the overall economics of the project. The Company believes that this alternative mining method, with the corresponding reduction in pre-production capital requirements, can also be employed at the Rail project. The Board of Rockcliff approved the commissioning of the new PEA for Tower and Rail to confirm the positive impact of the alternative mining method on the overall economics of the combined projects.
Management believes that being able to materially reduce pre-production capital costs at Tower and Rail is essential for the success of the first mining project to be developed by Rockcliff. This potential reduction in development capital, in combination with the competitive operating costs established in the desk-top study, should provide compelling economics for both the Tower and Rail projects. The sequential development of these two high-grade deposits, based upon projected daily mining rates, will result in a combined life-of-mine designed to meet investor requirements arising from commodity price cyclicality.
Don Christie, President & CEO commented, “I believe approaching this new PEA with a fresh perspective that utilizes a more traditional mine design is exactly what is required to reduce both development capex and operating risk while maximizing shareholder returns from the mining of our high-grade, steeply dipping, narrow vein deposits. Permitting on both the Tower and Rail projects is well advanced and it is Rockcliff’s intention to fast-track the development of both Tower and Rail to take advantage of what is viewed by the Company as a strong and sustainable copper market. We look forward to providing investors with the results of the PEA combining both Tower and Rail by the end of Q3.”
About Rockcliff Metals Corporation
Rockcliff is a Canadian based resource development and exploration company, with several advanced-stage, high-grade copper and zinc VMS dominant deposits in the Snow Lake area of central Manitoba. The Company has commissioned a PEA on its Tower and Rail projects for completion by the end of Q3 of this year and has a joint venture with Hudbay Minerals Inc. on the Talbot copper project. The Company has also commenced an exploration program on a number of its properties that will run until the end of 2021. Rockcliff is a major landholder in the largest Paleoproterozoic VMS district in the world, hosting high-grade mines and deposits containing copper, zinc, gold and silver. The Company’s extensive portfolio of properties totals approximately 4,500 square kilometres and includes seven of the highest-grade, undeveloped VMS deposits in the Flin Flon - Snow Lake Greenstone Belt.
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Rockcliff Metals Corporation
President & CEO
Cell: (416) 409-8441
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 contained in this news release, 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 a guarantee of future performance and actual results or developments may differ materially from those in the forward-looking statements.
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