Toronto, ON – May 21, 2019 – Rockcliff Metals Corporation (“Rockcliff” or the “Company”) (CSE: RCLF) (FRANKFURT: RO0, WKN: A2H60G) is pleased to announce assay results from its recently completed Phase Two winter drill program on the Company’s Bur Zinc Property located in central Manitoba. The Bur Zinc Property hosts the high-grade historical Bur Zinc Deposit and is strategically located 22 kilometres by road from Hudbay Minerals Inc.’s (“Hudbay”, HBM:TSX;NYSE) copper-zinc concentrator centered in the Snow Lake camp. Rockcliff is a major junior landholder in the Flin Flon-Snow Lake greenstone belt which is the largest Paleoproterozoic Volcanogenic Massive Sulphide (VMS) district in the world hosting mines and deposits containing copper, zinc, gold and silver.
Rockcliff’s Phase Two drill results intersected high-grade mineralization including:
Rockcliff’s President and CEO Ken Lapierre commented: “Our drilling confirmed significant extensions south of and above the high-grade historical Bur Zinc Deposit. The deposit is one of the highest-grade undeveloped zinc-copper rich VMS deposits in the belt and is open along strike and at depth. The Bur property is located within the known 8,000 metre long Bur VMS Horizon. Continuing to expand the existing limits of the deposit as well as defining new areas of mineralization within this favorable horizon will be the focus of our future exploration programs at Bur.”
Significant assays from Rockcliff’s Phase Two drill program are tabled below.
|Hole #||From (m)||To (m)||Length (m)||Zinc %||Copper %||Lead %||Gold g/t||Silver g/t||ZnEq*|
(m) = metres represents down the hole thickness as true thicknesses are not currently known, % = percentage, g/t = grams per tonne, *ZnEq = zinc equivalent value used US$1.20/pound zinc, US$3.00/pound copper, US$1.00/pound lead, US1400/ troy ounce gold and US$20 /per ounce silver, 100% metal recoveries were applied, Zinc Equivalent calculation is: ZnEq = Zn grade + (Cu grade%/100*2204.6 x Cu price) + (Pb grade%/100*2204.6 x Pb price) + (Au grade/32.15/1000 x Au price) + (Ag grade/32.15/1000 x Ag price)/Zn price/20. The numbers may not add up due to rounding. Holes numbered RBUR011, 013, 017 did not return significant values.
Additional drill hole information from Rockcliff’s Phase Two drill program is highlighted below:
A report was prepared on the Bur Zinc Property in 2007. Rockcliff is treating the estimate of mineral resources on the Bur Deposit Report as an “historical estimate” under NI 43-101 and not as a current mineral resource.
Historical Resource, Bur Zinc Deposit, Snow Lake, Manitoba:
|Resource||Tonnes||Zn (%)||Cu (%)||Ag (g/t)||Au (g/t)|
Notes: 1. CIM definitions were followed for the estimation of mineral resources. 2. Mineral resources are estimated at a zinc equivalent cut-off of 5%. 3. Cut-off grade was based on a zinc price of US$1.15 per pound and a copper price of US$2.35 per pound. 4. Given the tonnage, grade and orientation of the deposit, AMEC considered the Bur Deposit to be reasonably amenable to extraction using underground mining methods. 5. Specific Gravity measurements used to estimate the mineral resource tonnes ranged from 2.64 to 3.74 with an average of 3.16. 6. A minimum mining width of 3 metres was used. 7. Mineral resources are not mineral reserves and do not have demonstrated economic viability. 8. The deposit was documented in a report dated October 1, 2007 and titled “Bur Project, Snow Lake Manitoba, Canada NI 43-101 Technical Report” (the “Bur Deposit Report”). The report was prepared for Hudbay by AMEC and was filed on Hudbay’s SEDAR profile on January 31, 2008.
Historical estimates of grade and tonnage given in this press release are viewed as reliable and relevant based on the information and methods used at the time. The 2007 NI 43-101 Bur Deposit Report was prepared in compliance with resource definitions under NI 43-101 but must be considered only as historic resources as neither Rockcliff nor its Qualified Persons have done sufficient work to classify the historic estimate as a current mineral resource under current mineral resource or mineral reserve terminology and are not treating the historic estimate as a current mineral resource. The historic resource should not be relied upon. Additional work including surface geophysics, drilling and bore hole geophysics will need to be completed to upgrade the historical resource to current.
The Bur Zinc Deposit is a stratiform, distal, massive sulphide VMS deposit that occurs within a narrow turbidite assemblage of interbedded metagreywacke, metasiltstone and graphitic meta-argillite in a basinal area situated between two granitic intrusions. The northeast striking deposit dips 60-70 degrees northwest, ranges from <0.3 metres up to 5 metres thick with a known lateral extent of approximately 4,500 metres. Historical drilling encountered disseminated, semi-massive and massive sulphide mineralization below overburden to a vertical depth of 950 metres. Mineralization consists of sphalerite, chalcopyrite, pyrrhotite, pyrite, galena and arsenopyrite. The Bur Zinc Deposit contains up to 20% felsic or cherty nodules consisting of wall rock and late quartz fragments displaying a brecciated texture to the mineralization. The Bur Zinc Deposit remains open in all directions.
Rockcliff can earn a 100% interest in the Bur Zinc Property from Hudbay. Please refer to the Company’s news release dated September 26, 2016 for specific terms of the option agreement.
Quality Control and Quality Assurance
Samples of half core were packaged and shipped directly from Rockcliff’s field office to TSL Laboratories (TSL) in Saskatoon, Saskatchewan. TSL is a Canadian assay laboratory and is accredited under ISO/IEC 17025. Each bagged core sample was dried, crushed to 70% passing 10 mesh and a 250g pulp is pulverized to 95% passing 150 mesh for assaying. A 0.5g cut is taken from each pulp for base metal analyses and leached in a multi acid (total) digestion and then analyzed for copper, lead, zinc and silver by atomic absorption. Gold concentrations are determined by fire assay using a 30g charge followed by an atomic absorption finish. Samples greater than the upper detection limit (3000 ppb) are reanalyzed using fire assay gravimetric using a 1 AT charge. Rockcliff inserted certified blanks and standards in the sample stream to ensure lab integrity. Rockcliff has no relationship with TSL other than TSL being a service provider to the Company.
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.
About Rockcliff Metals Corporation
Rockcliff is a well-funded Canadian resource development and exploration company with approximately $29.0M in its treasury, a fully functional +1000 tpd permitted leased processing and tailings facility as well as several advanced stage high-grade copper, zinc and gold dominant VMS deposits in the Snow Lake area of Manitoba, Canada. The Company is continuing the permitting process for its 100% owned Tower copper project which it expects to be completed by Q4 of this year. Rockcliff is a major junior landholder on the Snow Lake side of the Flin Flon-Snow Lake greenstone belt which is home to the largest Paleoproterozoic VMS district in the world. The Company’s extensive portfolio of VMS and gold properties totals over 4,200 square kilometres and includes eight of the highest-grade undeveloped VMS deposits and 5 lode-gold properties held by Goldpath Resources Corp, Rockcliff’s wholly owned gold subsidiary, including the historic Rex-Laguna gold mine, Manitoba’s first and highest-grade gold mine.
For more information, please visit https://rockcliffmetals.com.
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For further information, please contact:
Rockcliff Metals 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
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.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.