Toronto, ON – October 24, 2019 – Rockcliff Metals Corporation (“Rockcliff” or the “Company”) (CSE: RCLF) (FRANKFURT: RO0, WKN: A2H60G) is pleased to announce that its 100,000-metre drill program is now fully underway in Snow Lake, Manitoba. A total of eight drills have been mobilized on the Company’s three advanced-stage Volcanogenic Massive Sulphide (“VMS”) deposits. The three deposits (Talbot, Rail and Tower) are located within trucking distance to the Company’s leased +1,000 tonnes per day mill and tailings facility. This extensive drill program is currently focussing on enhancing these advanced-stage deposits to allow for preliminary economic assessment studies to be completed on each property. Additional drill programs commencing in 2020 will focus on advancing other high-grade VMS deposits within the Company’s extensive property portfolio in Manitoba. Rockcliff is the largest junior development and exploration landholder in the Flin Flon-Snow Lake greenstone belt, the most extensive Paleoproterozoic VMS district (copper, gold, zinc, silver) in the world.
Rockcliff’s President and CEO Alistair Ross commented: “It was unfortunate that our provider of assay services encountered a significant backlog that delayed the continued release of results. However, I am pleased to say that this backlog has now been prioritised and worked on, and the assay lab is now able to reliably provide quality and timely assay results going forward.
Our geological team and drill contractors now total over 50 people to support the 8 rigs on our priority targets at the Rail, Tower and Talbot properties. In addition, good progress has been made with advancing our positive relationships with First Nations from Moose Lake and Norway House as we begin employing interested First Nations members and finalizing several service and supply contracts.”
Talbot Property Drill Program
The Talbot drill program, a minimum of 22,000 metres, is designed to enhance the confidence of the existing Talbot deposit resource. A total of 4 drills are currently testing the continuity of the high-grade VMS (copper, gold, zinc, silver) mineralization. To-date, 10 holes have been completed with an additional 4 holes in progress for a total of 6,568 metres. Drilling will continue for the balance of 2019.
All completed holes have been sampled and assay results for copper, gold, zinc and silver are pending.
This current round of drilling will result in Rockcliff earning an initial 51% ownership interest in the Talbot Property pursuant to the Company’s option agreement with Hudbay Minerals Inc. The property hosts the Talbot copper deposit, a high-grade 4.2M tonne National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) Inferred mineral resource grading 1.61% Cu, 1.4% Zn, 1.77 g/t Au and 27.96 g/t Ag as disclosed in the Rockcliff press release dated January 19, 2018. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
Rail Property Drill Program
The objective of this minimum 15,000 metre drill program is to determine if the near surface NI 43-101 Rail deposit Indicated mineral resource continues along strike and at depth. A total of 2 drills are testing for additional mineralization adjacent to the present resource where several geophysical conductive plates have been identified. To-date, 7 holes have been completed with 2 holes presently in progress totalling 3,972 metres. Drilling will continue for the balance of 2019.
All completed holes have been sampled and assay results for copper, gold, zinc and silver are pending.
Rockcliff’s initial drill results on Rail, as disclosed in the Rockcliff press release dated September 26, 2019, intersected high-grade intervals below the existing Rail deposit and are summarized in the table below.
|From||From||To||Length||Cu%||Au g/t||Zn%||Ag g/t||CuEq %|
(m) =metres represents down the hole thickness as true thickness is not currently known, % = percentage, g/t = grams per tonne, *copper equivalent value used US$3.00/pound copper, US1300/ troy ounce gold, US$1.15/pound zinc and US$20 /per ounce silver, 100% metal recoveries were applied, copper equivalent calculation is: CuEq = Cu grade (%) + [Zn grade (%) X Zn price per lb / Cu price per pound] + [Au grade (g/t) X Au price per gram / Cu priceper tonne X 100] + [Ag grade (g/t) X Ag price per gram / Cu price per tonne X 100]. The numbers may not add up due to rounding.
Rockcliff currently owns a 100% ownership interest in the Rail Property, subject to a 2% NSR, hosting the Rail deposit, a high grade 822,000 tonnes NI 43-101 Indicated mineral resource grading 3.04% Cu, 0.99% Zn, 0.7 g/t Au and 9.3 g/t Ag as disclosed in the Rockcliff press release dated July 24, 2018. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
Tower Property Drill Program
The purpose of this minimum 15,000 metre drill program is to enhance the confidence and determine the growth potential of the present Tower deposit resource. A total of 2 drill rigs have been mobilized to the Tower Property where drilling is planned for the balance of 2019 and into 2020.
Rockcliff currently owns a 100% interest in the Tower Property, subject to a 2% NSR, hosting the Tower deposit, a high-grade 1.08M tonne NI 43-101 Indicated mineral resource grading 3.73% Cu, 1.05% Zn, 0.55 g/t Au and 17.28 g/t Ag plus a 1.25M tonne NI 43-101 Inferred mineral resource grading 2.0% Cu, 1.02% Zn, 0.27 g/t Au and 9.78 g/t Ag as disclosed in the technical report titled “NI 43-101 Technical Report, Tower Property – Manitoba, Canada, March 2019” dated March 18, 2019 and filed on the SEDAR profile for Rockcliff at www.sedar.com on April 1, 2019. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
Bur Property Drill Program
A total of 2 drill rigs were mobilized and completed a total of 7,522.5 metres in 19 drill holes at the Bur Property. Drilling located additional VMS mineralization below and along strike of the historical Bur deposit.
All holes have been sampled and assay results for copper, gold, zinc and silver are pending.
Rockcliff is currently earning a 100% interest in the Bur Property hosting the historical Bur Deposit, a high-grade copper-zinc deposit hosting 1,352,000 tonnes grading 1.8% Cu, 8,7% Zn, 0.01g/t Au, and 11.5 g/t Ag. 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. They were prepared in compliance with resource definitions under NI 43-101 but must be considered only as historic resources as the Bur Deposit Report was prepared in 2007. 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.
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., Vice-President, Exploration of Rockcliff, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has reviewed 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 and near-term copper producer, with a fully functional +1000 tpd permitted leased processing and tailings facility as well as several advanced-staged, high-grade copper and zinc dominant VMS deposits in the Snow Lake area of Manitoba. The Company is a major landholder in the Flin Flon-Snow Lake greenstone belt which is home to the largest Paleoproterozoic VMS district in the world, hosting mines and deposits containing copper, zinc, gold and silver. The Company’s extensive portfolio of properties totals over 4,500 square kilometres and includes eight of the highest-grade, undeveloped VMS deposits and several lode-gold properties 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||CHF Capital Markets|
|Alistair Ross||Cathy Hume|
|President & CEO||CEO|
|Cell: (705) 507-4251||Off: (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.