Rockcliff Identifies High Grade Gold at 100% Owned Manitoba Gold Properties and Extends Closing of Non-Brokered Private Placement
Toronto, Ontario (FSCwire) - Rockcliff Metals Corp. (“Rockcliff” or the “Company”) (TSX.V: RCLF) (FRANKFURT: RO0, WKN: A2H60G) is pleased to announce high grade gold grab sample assay results from its 100% owned DSN Gold Property and Morgan Gold/VMS Property located in Snow Lake, Manitoba. Both properties are strategically located within the Snow Lake mining camp and within trucking distances to mill facilities. The Snow Lake mining camp is part of the world class Flin Flon-Snow Lake greenstone belt, home to operating base metal mines and former gold producers.
Ken Lapierre, President and CEO of the Company, commented: “Our summer field season is off to a solid start with promising high grade gold grab sample assay results on two 100% owned gold properties. Both the DSN Gold Property and the Morgan Gold/VMS Property have only seen limited historical gold exploration even though widespread gold mineralization exists in quatz veins and sulphide rich host rocks. We will continue to evaluate the gold potential on these gold properties in the camp and remain optimistic that with more exploration, the true gold potential of both properties will be realized. Additionally, once our current financing is completed, we will initiate a drill program on our high grade 100% owned Rail Copper Deposit located within trucking distance to a base metal processing facility. The drill program will attempt to expand the present Rail Deposit which is open in all directions and also discover new base metal mineralization along the prospective 5km long Rail Copper Trend. We remain committed to exploring our extensive property portfolio on a priority basis while looking for opportunities to partner or monetize these properties with the primary goal of creating long term shareholder value.”
DSN Gold Property
Rockcliff’s 100% owned DSN Gold Property is strategically located west of the Snow Lake mining camp. Rockcliff’s eight grab samples at the Corely Lake gold showings assayed from trace up to 4.9 gpt gold. Nineteen grab samples at the Lake Vena gold zone returned assays from 0.11 gpt up to 22.63 gpt gold along a surface exposed altered quartz vein for a total distance of 140 metres before the vein becomes covered with overburden.
The DSN Gold Property has seen limited gold exploration although several areas with gold mineralization (Corely Lake and Lake Vena) have been discovered within quartz rich shear zones associated proximal to the Morton Thrust Fault that strikes across the property a distance of over 15 km. Historical work identified gold mineralization at the Corely Lake gold showings (trace up to 115 gpt gold in quartz veins within fault zones) and the Lake Vena gold zone (trace up to 24 gpt gold) in grab samples, channel samples and small bulk samples.
Additonal work in 2018-19 will focus on the Corely Lake gold showings and the Lake Vena gold zone where surface geophysics, geological mapping and sampling and trenching are planned.
Morgan Gold/VMS Property
Rockcliff’s 100% owned Morgan Gold/VMS Property is strategically located within the Snow Lake mining camp. Rockcliff’s field work centered on the Finlayson Gold Zone followed at surface in a series of overgrown and water filled historical trenches striking a distance of 250 metres. Rockcliff’s fifeteen grab samples returned assays from 0.04 gpt up to 6.82 gpt gold.
Historical gold exploration on the Finlayson Zone, identified two shoots of gold bearing quartz veins traced for a strike length of 250 metres. Historical channel sampling in trenches returned assays from trace up to 19.95 gpt gold over 2.3 metres and limited shallow drilling intersected the Finlaysone zone and returned assay results from trace up to 22.6 gpt gold over a 1.7 metres thickness.
Additonal work in 2018-19 will focuss on surface geophysical surveys and additional geological mapping and sampling.
Non-Brokered Financing and Existing Shareholder Financing
The Company also wishes to announce that it will be extending the closing date of its Financing announced on May 10, 2018 to July 20, 2018 and will be extending the Existing Shareholder Offering to coincide with the closing of the Financing. The Existing Shareholder Offering is open to all existing shareholders of the Company resident in Canada as of the record date of May 9, 2018 until the earlier of the closing of the Financing and July 20, 2018. Shareholders interested in participating in the Existing Shareholder Offering should contact, or have their registered broker contact, Yvonne So, assistant to Bill Johnstone, Corporate Secretary of the Company, at firstname.lastname@example.org or (416) 865-6789 to obtain a copy of the subscription agreement for Working Capital Units. Requests should be received by no later than July 18, 2018 so that subscription agreements can be signed and funds can be received by the Company by no later than July 20, 2018. For further particulars relating to the Existing Shareholder Offering and the Financing, see the Company’s press release dated May 10, 2018.
Rock samples were taken in the field, packaged and shipped directly from Rockcliff’s field office to TSL Laboratories (TSL), Saskatoon, SK. TSL is a Canadian assay laboratory and is accredited under ISO/IEC 17025. Each bagged rock sample was dried, crushed to 70% passing 10 mesh and a 250g pulp was pulverized to 95% passing 150 mesh for assaying. A 0.5g cut was taken from each pulp for base metal analysis (if needed) and leached in a multi acid (total) digestion and then analyzed for copper, lead, zinc and silver by atomic absorption. Gold concentrations were determined by fire assay using a 30g charge followed by fire assay gravimetric and atomic absorption finish. Samples greater than an upper detection limit (3000 ppb) were reanalyzed using a 1 AT charge. Rockcliff inserted certified blanks and standards in the sample stream to ensure lab integrity.
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. The reader is cautioned that grab samples are selective by nature and may not represent the true grade of the mineralization of the prospect or showing sampled.
About Rockcliff Metals Corporation
The Company is a Canadian resource exploration company focused on exploration and generating cash flow from future royalty payments on its base and precious metal assets located in central Manitoba, Canada. Rockcliff’s current portfolio of properties, totalling in excess of approximately 50,000 hectares, is located in and around the 100-year-old operating Snow Lake Mining Camp and hosts NI 43-101 compliant copper deposits (the gold-rich Talbot Copper deposit and the Rail Copper deposit) and undeveloped historical zinc deposits (the Lon Zinc deposit, the Bur Zinc deposit, the Morgan Zinc deposit and the down-dip continuation of the Pen Zinc deposit). The Company’s properties also include Manitoba’s first and highest-grade former lode-gold producer (Laguna Gold Property), four additional gold-rich properties (SLG Gold Property, DSN Gold Property, Berry Creek Gold Property and Lucky Jack Gold Property), a Net Smelter Royalty on the Tower Property slated for production in 2020 (the Tower Copper deposit) and the optioned near-surface high-grade MacBride Zinc deposit located north of Snow Lake near Leaf Rapids, Manitoba.
For further information, please contact:
Rockcliff Metals Corporation
CHF Capital Markets
Ken Lapierre, P. Geo
Cathy Hume, CEO
President & CEO
Off: (416) 868-1079 ext. 231
Cell: (647) 678-3879
Off: (416) 644-1752
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 guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the original release, please click here
Source: Rockcliff Metals Corp. (TSX Venture:RCLF, OTC Pink:SVVZF, FWB:RO0)
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