TORONTO, Jan. 17, 2020 (GLOBE NEWSWIRE) -- Rockcliff Metals Corporation (“Rockcliff” or the “Company”) (CSE: RCLF) (FRANKFURT: RO0, WKN: A2H60G) is pleased to announce that all remaining drill core assay results from the 2019 drill program have been received and the drilling has identified high-grade copper mineralization below the existing 100% owned NI 43-101 Indicated resource Rail deposit, located in Snow Lake, Manitoba. The expanded 2020 Rail drill program has now commenced with four drills. The drill program will continue to focus on identifying additional copper mineralization below the Rail deposit to a vertical depth of 600 metres and to the south along strike of the deposit. The Rail property is one of Rockcliff’s advanced-stage properties, where a Preliminary Economic Assessment (“PEA”) is planned for completion in the second quarter of 2020. The Rail deposit is within trucking distance to the Company’s leased mill and tailings complex.
Rockcliff’s President and CEO Alistair Ross commented: “These results continue to confirm our belief that the Rail property will be shown to be a viable mine as we continue to generate and collect drill hole data for the Preliminary Economic Assessment, to be completed in the second quarter of this year.”
The Company has received down-the-hole assay results from the remaining 20 holes that were completed in late 2019 (see table below). The previous 5 holes, RL19-062 and RL19-064 were released on September 26, 2019 and RL19-063, RL19-065 and RL19-066 were released on November 18, 2019.
|HOLE ID||From (m)||To (m)||Length (m)||Cu %||Zn %||Au gpt||Ag gpt||CuEq %|
|m = metres represent down hole thickness as true thickness is not currently known, gpt = grams per tonne, CuEq** = copper equivalent values used: US$3.00 copper, US$1.15 zinc, US$1300(US$41.80/g) gold, US$20.00(US$0.64/g) silver. 100% metal recoveries were applied. CuEq = Cu grade % + (Zn grade % X Zn price per lb / Cu price per pound) + (Au grade g/t X Au price per gram / Cu price per tonne) X 100 + (Ag grade g/t X Ag price per gram / Cu price per tonne) X 100. Drill holes RL19--069, RL19-071 and RL19-073 did not intersect significant mineralization and defined the northern limit of the Rail deposit. Holes RL19-080, RL19-082 and RL19-084 were drilled for metallurgical and ore sorting studies.|
Figure 1: Rail longitudinal section outlining Rail deposit, mineralized down the hole drill intercepts and geophysical borehole anomalies associated with and proximal to the Rail deposit.
To view an image of Figure 1, please visit:
The Rail property is one of Rockcliff’s advanced stage properties where a PEA is expected to be completed during the second quarter of 2020 and is part of the Company’s overall development strategy as one of the potential projects to be selected as the optimal project to advance to a Feasibility Study.
Additional drill hole information is highlighted below.
The Rail Deposit: National Instrument 43-101 Indicated Resource (“NI 43-101 Compliant Resource”)
Rockcliff filed an initial NI 43-101 Compliant Resource on the Rail Deposit on December 20, 2010. The report entitled “Mineral Resource Evaluation, Rail Polymetallic Sulphide Deposit, Snow Lake, Manitoba”, dated December 19, 2010 (the “Rail Deposit Report”), was prepared by Sébastien Bernier, M. Sc., P.Geo, and Dominic Chartier, P.Geo., qualified persons under National Instrument 43-101, on behalf of SRK Consulting (Canada) Inc. (“SRK”). The Rail Deposit Report is available for viewing on the SEDAR profile for Rockcliff Resources Inc. (“Rockcliff Resources”), the predecessor of the Company, at www.sedar.com.
The Mineral Resource Statement for the Rail Deposit is reported at a cut-off grade of 2.0% copper. The statement includes metal grades for copper, zinc, gold and silver but not lead because this metal is present at near detection limits. The Mineral Resource Statement for the Rail Deposit is summarized in the table below.
Table 1: Mineral Resource Statement*, Rail Polymetallic Sulphide Deposit,
Manitoba, SRK, November 4, 2010
|(tonnes)||Cu (%)||Zn (%)||Au (g/t)||Ag (g/t)||Cu (pounds)|
|*Reported at a cut-off grade of 2.0 percent copper. Cut-off grade is based on copper price of US$3.00 per pound and a metallurgical recovery of eighty percent, without considering revenues from other metals. All figures rounded to reflect the relative accuracy of the estimates. Mineral resources are not mineral reserves and do not have demonstrated economic viability.|
The mineral resources are reported at a cut-off grade of 2.0% copper to reflect “the reasonable prospects” for economic extraction. SRK considers the Rail Deposit to be amenable to extraction using underground mining methods. The mineral resources presented in the Mineral Resource Statement for the Rail Deposit in Table 1 are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. The Indicated Mineral Resource for the Rail Deposit was classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves (December 2005) by Sebastien Bernier, P. Geo (APGO#1847), an appropriate independent person for the purpose of National Instrument 43-101.
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 was pulverized to 95% passing 150 mesh for assaying. A 0.5g cut was 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 leased 1,000 tpd processing and tailings facility as well as several advanced-stage, high-grade copper dominant Volcanogenic Massive Sulphide (“VMS”) deposits in central Manitoba. The Company is a major copper 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 further information, please contact:
Rockcliff Metals Corporation
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.