Rockcliff Initiates Drill Program on Its High-Grade Copper Assets in Manitoba
Toronto, January 25, 2023 - Rockcliff Metals Corp. (CSE: RCLF) (OTCQB: RKCLF) ("Rockcliff" or the "Company") is pleased to announce the start of a fully funded minimum 2,000 metres drill program at several of its 100% owned high-grade copper properties in Manitoba. The properties are strategically located and are part of the Company's extensive property portfolio located within the world class volcanogenic massive sulphide ("VMS") hosted Flin Flon-Snow Lake Greenstone Belt. Strategic VMS mineralization targeted in the drill program includes metals of copper and zinc.
Rockcliff's Interim President and CEO Ken Lapierre commented, "We are pleased to announce that our winter drill program has commenced, and road clearing is progressing to two VMS properties with excellent potential for new discoveries. At the Bur Property, drilling will test several untested VMS geophysical targets located proximal to our existing, 100% owned high grade 5.3Mt Bur VMS Deposit. At the Penex Property, drilling will focus on a significant 2.6 kilometres long untested geophysical target located approximately four kilometres west of the world class Lalor VMS and Gold Mine. We will advance these properties with the goal of finding the next big discovery in this world class copper environment. With success, we look forward in releasing a steady stream of exciting results to the market in the first half of 2023."
Rockcliff remains the largest junior landholder in the in the Snow Lake mining camp area within the Flin Flon-Snow Lake Greenstone Belt (see Figure 1 below).
Figure 1: Location of the Bur and Penex Properties (circled in red) within Rockcliff's Extensive Land Position (in blue) will be the Focus of the Present Drill Program
To view an enhanced version of Figure 1, please visit:
The 100% owned Bur Property hosts the Bur VMS Deposit and is located approximately 22 kilometres by gravel road from the center of the Snow Lake Mining Camp. The Bur VMS Deposit is a strategic, high-grade and significant resource of copper and zinc. It remains open at depth and along strike. Additional nearby exploration geophysical targets have been identified which will be tested in this drill program (see Figure 2 below).
Figure 2: Plan View of Bur VMS Deposit, Geology, Structure and Surrounding Targets for Winter Drilling
To view an enhanced version of Figure 2, please visit:
A total of 1,000 metres of drilling in four to six holes are planned in an area approximately 1,000 metres northeast of the Bur VMS Deposit. This area has a similar geological and structural environment to that associated with the Bur VMS Deposit.
Rockcliff completed a NI 43-101 Technical Report in Q4 2021 on the Bur Property and press released the report on November 22, 2021. The Technical Report prepared by Stantec, with an effective date of October 26, 2021, is summarized below:
Bur VMS Deposit Mineral Resource Estimate at a 2.3% CuEq Cut-Off Grade (1-12)
- CIM definitions are followed for classification of Mineral Resource.
- Mineral resources are contained within a mineralized vein (zone) dipping at approximately 60 degrees towards the northwest whose closest vertical depth from surface is 6 m and maximum vertical depth is 1,274 m.
- Resources are constrained to a minimum true vein thickness of 0.2 m and where calculated block revenues after recovery are greater than costs for mining.
- CuEq (%) = Cu (%) + Zn (%) x 0.347 + Au(gpt) x 0.430 +Ag(gpt) x 0.005
- ZnEq (%) = Cu (%) x 2.885 + Zn (%) + Au(gpt) x 1.241 + Ag(gpt) x 0.016
- CuEq and ZnEq formulas are calculated using the following revenue inputs: Cu US$ 3.26/lb, Zn US$ 1.13/lb, Au US$ 1,744/oz, and Ag US$ 22.05/oz. Metal recoveries are: 80% Cu, 80% Zn, 40% Au and 40% Ag.
- Mining costs used to determine prospects for eventual economic extraction total C$110/t.
- US$ to C$ exchange rate applied is 1:1.31.
- Specific gravity for the mineralized zone is fixed at 3.1.
- Totals may not represent the sum of the parts due to rounding.
- The Mineral Resource estimate has been prepared by Derek Loveday, P. Geo. of Stantec Consulting Services Ltd. in conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines and are reported in accordance with the Canadian Securities Administrators NI 43-101. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that any mineral resource will be converted into mineral reserve.
- The 100% owned Bur Property is part of the Company's extensive Manitoba property portfolio, has excellent infrastructure with a year-round access road, clearing for portable buildings, and a box cut and portal. The Bur Property lies within the Flin Flon-Snow Lake greenstone belt, the largest Paleoproterozoic VMS district in the world and the most prolific VMS district in Canada.
A copy of the Technical Report is available on the Company's SEDAR issuer profile at www.SEDAR.com and the Company's website at http://rockcliffmetals.com.
The 100% owned Penex Property is located approximately four kilometres from Hudbay Mineral's world class Lalor VMS and Gold Mine. The Penex Property hosts several areas with VMS potential including the down-dip extension of Hudbay Minerals Pen VMS Deposit at 350 metres vertical and an untested 2.6 kilometres long airborne geophysical target approximately one kilometres west of the Penex VMS Deposit (see Figure 3 below).
Figure 3: Plan View of Bur VMS Deposit, Geology, Structure and Surrounding Targets for Winter Drilling
To view an enhanced version of Figure 3, please visit:
A total of 1,000 metres of drilling in four to six holes are planned to test the 2.6 kilometers long airborne geophysical target identified in historical airborne surveys and in a recently completed surface geophysical survey. Rockcliff will be targeting several areas along its length in order to determine its VMS significance.
Ken Lapierre P.Geo., Interim 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.
About Rockcliff Metals Corporation
Rockcliff is a Canadian exploration and resource development Company with several advanced-stage, high-grade VMS copper-zinc dominant deposits in the Snow Lake area of central Manitoba. The Company is a major landholder in the Flin Flon-Snow Lake Greenstone Belt which is 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 3,000 km² and includes six 100% owned high grade, undeveloped VMS deposits. Rockcliff's (49% ownership) seventh high grade VMS deposit, the Talbot Copper Deposit, is a Joint Venture with Hudbay (51% ownership).
Find out more, visit our website:
For further information, please contact:
Rockcliff Metals Corp.
Interim President & CEO
Cell: (647) 678-3879
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/152428