Sudbury, Ontario--(Newsfile Corp. - September 23, 2020) - Rockcliff Metals Corporation (CSE: RCLF) (FSE: RO0) (WKN: A2H60G) ("Rockcliff" or the "Company") is pleased to announce that additional drilling completed at its 100% owned Tower Property has expanded the Tower Deposit mineralization along strike and at depth. Management has determined that it is appropriate that this additional mineralization be added to the Preliminary Economic Assessment ("PEA") currently being prepared by the Company and its independent consultants. The Tower Deposit's mineralization strike length has increased to approximately 1,000 metres and has been intersected to depths of approximately 800 metres.
These latest drill results in the deep part of the Tower Deposit appear to add depth and strike length, therefore Rockcliff will complete an updated Mineral Resource model as part of its PEA work. Management is using these new drill hole results to gain further geotechnical knowledge including rock quality characteristics and structural data for the Tower Deposit. This drill program will provide additional and more representative rockmass data for use in the PEA's engineering design for the ground support requirements and the stope designs. The new drill data should support the PEA assumptions for the rate of advance in development headings, the stope dilution and recovery and the host rock behaviour, especially in the crown pillars.
Alistair Ross, President and CEO, commented: "It is fortunate for us to be able to incorporate, mid-stream, this new drill data into our PEA. Although this extends the date for publishing our PEA, it allows us to maintain our promise to deliver a high quality study to the market. The PEA results are anticipated to be known before the end of the year. I believe that when the PEA has been finalized, our shareholders will appreciate the level of confidence they can place in the study results."
Tower Drill Program
Significant down hole mineralized intervals are summarized below. Drill holeTP20-102 is presently being logged. Geophysical probing of TP20-101 indicated that off hole conductivity exists below, south and north of the drill hole.
|Hole ID||From (m)||To (m)||Length (m)||Cu%||Zn%||Au g/t||Ag g/t||CuEq %|
m =metres represent down hole widths as true widths are not currently known, gpt = grams per tonne, CuEq = copper equivalent values used: US$3.00 copper, US$1.10 zinc, US$1350/troy ounce gold ($43.40/gram), US$16.50/troy ounce silver ($0.53/gram). 100% metal recoveries were applied. CuEq = Cu grade % + (Zn grade % X Zn price per lb / Cu price per pound) + (Au grade g/t X Au price per gram / Cu price per tonne) X 100 + (Ag grade g/t X Ag price per gram / Cu price per tonne) X 100. Assays are pending for TP20-100 and TP20-102. The numbers may not add up due to rounding.
Figure 1: Tower Deposit Longitudinal Projection, Q3-2020 Drill Pierce Point Locations and 2019 Mineral Resource Update Outline.
To view an enhanced version of Figure 1, please visit:
Tower Deposit Updated Mineral Resource Estimate
A recent NI 43-101 Technical Report prepared by P&E Mining Consultants Inc. ("P&E") with an effective date of March 2, 2020 and filed on SEDAR on April 16, 2020 is summarized below.
Tower Property Updated Mineral Resource Estimate at 1.5% CuEq cut-off(1-10)
1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, marketing, or other relevant issues.
2) Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
(3) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
(4) Approximate Jan 31/20 two year trailing average US$ metal prices used were $3/lb Cu, $1.10/lb Zn, $1,350/oz Au and $16.50/oz Ag. The US$: CDN$ exchange rate used was 0.77.
(5) Respective process recoveries for Cu, Zn, Au, Ag were 95%, 80%, 80%, 80%
(6) Respective smelter payables for Cu, Zn, Au, Ag were 96.5%, 85%, 90%, 90%.
(7) Respective USD Cu and Zn smelter treatment charges used were $80 and $250/tonne with concentrate freight of CDN$65/tonne.
(8) CuEq% was calculated as follows: Cu% + (Zn % x 0.220) + (Au g/t x 0.673) + (Ag g/t x 0.008).
(9) The 1.5% CuEq cut-off is approximately equivalent to a C$100/tonne project operating cost.
(10) Contained metal totals may differ due to rounding.
Neither Rockcliff's Qualified Person, Ken Lapierre, P.Geo., nor P&E's Qualified Person, Eugene Puritch, P.Eng., nor management of Rockcliff are aware of any environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issues that may materially affect the estimate of the Mineral Resource.
Additional drill hole information is highlighted in the table below.
|HOLE ID||UTM-E||UTM-N||DH_Dip||DH |
TGR Nickel-PGE Drilling
Drilling at the TGR NI-PGE Prospect and surrounding area totalled 1,452 m in 4 holes. No significant observable mineralization was noted in the drill holes. Samples have been sent to the lab for nickel and PGE analysis. Additonal exploration included geophysical probing of all drill holes where induction surveys identified additional anomalous areas for drill testing. A compilation study from the drill program is ongoing and will aid in understanding what additional exploration is required.
Quality Control and Quality Assurance
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 pertains to the Tower Drill Program that forms part of the basis for the disclosure contained in this press release.
Samantha Espley, P.Eng., VP Mining Transformation, BESTECH, a Qualified Person in accordance with Canadian regulatory requirement as set out in NI 43-101, has read and approved the scientific and technical information that pertains to the Tower PEA study that forms part of the basis for the disclosure contained in this press release.
Quality Control and Quality Assurance: Assays
Samples of half core were packaged and shipped directly from Rockcliff's core facility in Snow Lake 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 is 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 were determined by fire assay using a 30g charge followed by an atomic absorption finish. Samples greater than the upper detection limit (3,000 ppb) were reanalyzed using fire assay gravimetric using a 1 Assay Ton 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.
About Rockcliff Metals Corporation
Rockcliff is a well-funded Canadian resource development and exploration company, with a fully functional +1,000 tpd leased processing and tailings facility as well as several advance-staged, high-grade copper and zinc dominant VMS 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 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 and high grade gold properties.
For further information, please contact:
Rockcliff Metals Corporation
President & CEO
Phone: (249) 805-9020
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.
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