Sudbury, Ontario--(Newsfile Corp. - January 14, 2021) - Rockcliff Metals Corporation (CSE: RCLF) (FSE: RO0) (WKN: A2H60G) ("Rockcliff" or the "Company") is pleased to announce that a drill program has been initiated at the Company's 100% owned Tower Property. The focus of the drill program will be on a highly prospective, buried, untested, geophysical anomaly termed the T3 Anomaly ("T3"). The T3 is strategically located approximately 1,200 m north of the copper-rich Tower Deposit where a recently completed preliminary economic assessment ("PEA") highlighted positive economics. The Tower Property is part of Rockcliff's extensive land package located in one of the most prolific and largest Paleoprotezoic volcangenic massive sulphide ("VMS") district in the world.
Alistair Ross, President and CEO said, "I am pleased to report rapid follow up on one of the key findings of the PEA showing that resource size is a key factor in improved economics. Our development rates and costs as proposed in the PEA indicate that should the T3 provide encouraging grade and size, the cost and schedule of reaching that area will fit very well inside the current intent of extending the proposed mine life at the Tower Property. We are examining the Rail Property for similar opportunities."
The exploration focus of this drill program at the Tower Property will be to determine the conductive source of the untested T3; an approximate 450 m by 450 m sized geophysical conductor topping at 650 metres vertical (Figure 1). The T3 is located on trend and approximately 1,200 m north of the copper-rich Tower Deposit. The Tower Deposit is a NI 43-101 compliant Resource with a mineralized strike length of 1,000 m and has been intersected to depths of between 125 m and 800 m where it remains open at depth and partially to the north.
Figure 1: Tower Deposit Planned Projection and Location of Untested T3 Anomaly.
About Rockcliff Metals Corporation
Rockcliff is a Canadian resource development and exploration company, with a +1,000 tonne per day leased processing and tailings facility as well as several advanced-stage, high-grade copper and zinc dominant VMS deposits in the Snow Lake area of central Manitoba, Canada. The Company 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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Cautionary Note Regarding Forward-Looking Statements:
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws . Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes", or the negatives and / or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". In particular, the forward-looking statements in this press release include, without limitation, statements regarding: future projected production, capital costs and operating costs, recovery methods and rates, development methods and plans, commodity prices and Mineral Resource Estimates. Statements relating to "Mineral Resources" are deemed to be forward-looking information, as they involve the implied assessment that, based on certain estimates and assumptions, the Mineral Resources described can be profitably produced in the future.
Forward looking statements are based on the certain assumptions opinions and estimates as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: delays resulting from the COVID-19 pandemic, changes in market conditions, unsuccessful exploration results, possibility of project cost overruns or unanticipated costs and expenses, changes in the costs and timing of the development of new deposits, inaccurate resource estimates, changes in the price of copper or zinc, unanticipated changes in key management personnel and general economic conditions. Mining exploration and development is an inherently risky business. The Company believes that the expectations reflected in the forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in the forward-looking statements. For a discussion in respect of risks and other factors that could influence forward-looking statements, please refer to the factors discussed in the Company's Management Discussion and Analysis for the year ended March 31, 2020 and subsequent quarterly financial reports under the heading 'Risk Factors'. These factors are not and should not be construed as being exhaustive.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this news release. The Company does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in the Company's expectations except as otherwise required by applicable legislation.