The Tower Property hosts the Tower Deposit, a polymetallic copper (zinc-gold-silver)-rich volcanogenic massive sulphide (VMS) deposit. The Tower Property is in the Flin Flon-Snow Lake district of west central Manitoba, Canada approximately 500 road-km north-northwest of the City of Winnipeg and 50km southwest of the Town of Snow Lake.
The Tower Deposit is defined as a remobilized, single, steeply dipping, high-grade, VMS lens that is located immediately below an approximate 100 m thick layer of Paleozoic limestone cover. The Tower Deposit consists of stringers and massive sulphide lenses of chalcopyrite, pyrite, pyrrhotite and sphalerite. Drilling has intersected the Tower Deposit and additional mineralization over a strike length of approximately 1,000 m and to a vertical depth from surface to approximately 750 m. The Tower Deposit remains open at depth and partially to the south. The Tower Deposit averages 2.03 m in width.
Mineral Resoure Estimate
The deposit is associated with a 12 km long copper corridor. The property has potential expansion opportunities with the present resource and additional nearby anomalies. The Tower property has an NI 43-101 Mineral Resource Estimate (February 2022) in the table below.
|Updated Tower Mineral Resource Estimate at $80 insitu cut-off
Refer to Global Resource Table for additional disclosures
On February 28, 2020 the Company announced the results of metallurigcal test work completed on the Tower, Rail and Talbot deposits (see PR here).
Highlights of the metallurgical testing are as follows :
- Copper recoveries ranging from 91.2% - 94.4%;
- Copper concentrate grade of 28.2%-31.3%;
- Low zinc contamination on copper concentrates (0.3%-1%); and
- Potential ability to produce Zinc concentrate of >50%Zn.
Preliminary Economic Assessment
On February 1, 2022 the Company released an N.I. 43-101 Preliminary Econommic Assessment ("PEA"), combining the Tower and Rail Properties (see PR here). The technical report will be filed within 45 days of the Company's announcement of the highlights.
Highlights of the PEA results are as follows:
- After tax NPV8 of $128.6 million and an IRR of 67%;
- Initial capital of $81.0 million;
- Near term production possible with a 16-month construction period;
- Initial capital paid back within 12 months of Commercial Production; and
- 9.5 year life of mine, with opportunities for mine life expansion.
1 Base case economics price assumptions: Copper price US$3.76/lb, zinc price US$1.25/lb, gold price US$1,828/oz, silver price US$24.64/oz and USD:CAD exchange rate of .78
February 22, 2022
Rockcliff Metals Files PEA Technical Report on SEDAR
February 1, 2022
Rockcliff Announces PEA Results Demonstrating a Robust Low-Capital Project with Highly Attractive Economics
July 14, 2021
Rockcliff Announces Commencement of a New Preliminary Economic Assessment of Tower and Rail
January 25, 2021
Rockcliff Announces Filing of PEA for Tower and Rail Project on SEDAR
January 14, 2021
Rockcliff Initiates Tower Property Drill Program
December 11, 2020
Positive PEA Results Demonstrates Path to Copper Production. After Tax NPV8 of $71M and IRR of 30%
September 23, 2020
Rockcliff Announces Significant Drill Intercepts at Tower Deposit Including 6.39% CuEq Across 2.51 Metres and 5.36% CuEq Across 3.47 Metres
July 10, 2020
Rockcliff Initiates Drill Program on its High-Grade TGR Nickel-PGE Prospect. Additional PGE Assaying on Discovery Hole Identifies Significant Rhodium Values
June 10, 2020
Rockcliff Continues Drill Program at Tower Property
April 30, 2020
Rockcliff Makes Significant Nickel-PGE Discovery at the Tower Property - 3.82% NiEq Across 2.4 Metres including 6.79% NiEq Across 1.25 Metres
April 23, 2020
Rockcliff Discovers At Tower Deposit High Grade Copper Extensions Along Strike Including 4.88% CuEq Across 13.53 Metres and at Depth Including 5.87% CuEq Across 1.12 Metres
April 16, 2020
Rockcliff Files Updated Tower Deposit Mineral Resource Estimate - 1.03Mt Indicated @ 5.74% CuEq and 0.37Mt Inferred @ 4.29% CuEq
March 2, 2020
Rockcliff Provides Updated Tower Resource Estimate – 1.03Mt @ 5.74% CuEq Indicated and 0.37Mt @ 4.29% CuEq Inferred
January 14, 2020
Rockcliff to Complete 70,000 Metre Drill Program on Copper Properties in 2020
November 6, 2019
Rockcliff Provides Update on Path Forward to Production
October 24, 2019
Rockcliff Provides Drill Program Update at Snow Lake
May 8, 2019
Rockcliff Metals Closes Asset Acquisition and Funding Totaling $28.7 Million to Become a Leading Manitoba Based Development and Exploration Company