Rockcliff Metals: Kinross Completes 2019 Drill Program at Laguna 2020 Drill Program Underway
Toronto, January 27, 2020 - Rockcliff Metals Corp. (CSE: RCLF) (FSE: RO0) (WKN: A2H60G) ("Rockcliff" or the "Company") is pleased to announce that KG Exploration (Canada) Inc. ("KGE"), an affiliate of Kinross Gold Corporation has completed its 2019 exploration program including over 3,000 metres ("m") of drilling at Rockcliff's Laguna property ("Laguna") in Snow Lake, Manitoba. KGE optioned Laguna from the Company in July 2018. Based on the positive results in 2019, KGE elected to continue with the Laguna/Lucky Jack option agreement and has advised Rockcliff that a winter drill program has now commenced at Laguna. Between 5,000m and 8,000m of drilling is planned at Laguna in 2020. Pursuant to the July 2018 option agreement, KGE may earn up to a 70% interest in Laguna and the Lucky Jack gold properties by spending $5,500,000 over the 6 year term of the option agreement.
Laguna, located in the Flin Flon-Snow Lake greenstone belt hosts the historic Rex-Laguna gold mine, Manitoba's first and highest-grade former gold mine. Discovered in 1914, eventual periodic gold mining from the Laguna quartz vein, between 1936 and 1940, produced over 60,000 ounces of gold with an average grade of 16.7gpt. Laguna includes 28 contiguous mining claims totalling 3,501 hectares.
The 2019 drill program was successful in identifying a new high grade, narrow hangingwall quartz vein that occurs above the mined Laguna quartz vein (see figure 1 below). The hangingwall quartz vein has been traced by drilling for approximately 250m along strike to about 150m depth. Some of the more significant down-the-hole gold intervals from the 2019 drill program are highlighted below.
- LG19-003: 2.82g/t across 0.56m
- LG19-004: 14.65g/t across 0.54m
- LG19-006: 15.95g/t across 0.39m
- LG19-007: 3.92g/t across 0.47m
- LG19-011: 11.80g/t across 0.84m
- LG19-015: 5.09g/t across 0.67m
- LG19-017: 4.87g/t across 1.06m
Drilling in 2020 is planned to test the new hangingwall quartz vein, the Laguna quartz vein, the Bingo quartz vein and Kiski quartz vein system as well as possibly testing the Zona mineralized quartz vein on the Lucky Jack property. Summer work is planned to consist of prospecting and mapping with mechanical stripping at Laguna along with prospecting and mapping on the Lucky Jack property.
Figure 1: Laguna Drill Area Highlighting Location of 2019 Drill Hole Location and Assay Results
To view an enhanced version of this graphic, please visit:
2019 Laguna Drill Program
Kinross completed a total of 3,203m of drilling in 17 holes over a collective 700m of strike length in two areas of the Laguna gold mine trend, a six kilometre long corridor of prospective geology and gold bearing quartz veining. The first area tested proximal to the Laguna quartz vein (LG19-01 to LG19-014) and the second tested proximal to the Kiski quartz vein system (LG19-015 to LG19-017). All drill holes intersected quartz veining with 11 of 17 holes intersecting veining/shearing over a minimum one metre in core length. Three drill holes also intersected fine grained visible gold within quartz veins.
A new hangingwall quartz vein was discovered (see figure 1 above) above the Laguna quartz vein which returned locally significant gold results. Gold mineralization was encountered in the hangingwall quartz vein across a strike length of 250m and to a vertical depth of 150m. It remains open in all directions and part of the 2020 drill program will focus on extending the the strike and dip length of this new discovery.
Typical mineralization associated with gold mineralization at Laguna is with arsenopyrite which is predominantly associated in strongly sericitized and silicified rhyolite and in quartz veins over one to three metres in thickness. The arsenopyrite is predominantly disseminated within the sericitized zones and follow along hairline fractures and margins of quartz veins.
The Kiski vein system (see Figure 2 below) was encountered in holes LG19-014 to LG19-017. Quartz veins were associated with strong arsenopyrite mineralization (1% to 5%) within the silicified gabbro-rich host rock. Mineralization was highly constrained between 1m to 3m around the intersected vein.
Figure 2: Kiski Vein System 2019 Drill Location and Assay Results
To view an enhanced version of this graphic, please visit:
Ken Lapierre P.Geo., VP Exploration 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 a +1,000 tpd 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 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 in the belt.
For more information, please visit http://rockcliffmetals.com
Facebook: Rockcliff Metals Corp.
For further information, please contact:
Rockcliff Metals Corp.
President & CEO
Cell: (705) 507-4251
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51840