Rockcliff Metals Corporation
(“Rockcliff” or the
“Company”) (CSE: RCLF) (FRANKFURT: RO0, WKN:
A2H60G) is pleased to announce the completion of a
successful winter drill program on its 100% owned Tower
Property. Drilling has intersected high-grade copper
extensions along strike to the south and at depth outside of the
current limits of the high-grade Tower Deposit. The Tower Deposit
mineralization strike length is now over 900 metres
(“m”) and has been intersected to depths of over
600 m. It remains open along strike to the south and at depth.
Rockcliff’s President and CEO Alistair Ross
commented: “We are extremely pleased to report that our 2020 winter
drill program has exceeded expectations. The Tower Deposit is
presently one of the highest grade unmined deposits in the prolific
Flin Flon-Snow Lake greenstone belt and our 2020 drilling to-date
has confirmed the exceptional potential to extend the known
mineralization of the deposit. The drill program intersected
high-grade copper mineralization south of the known
Tower Deposit limits where hole TP20-080 intersected 4.88%
CuEq across a down hole width of 13.53 m including 12.42%
CuEq across 2.66 m. The deposit remains open to the south
and appears to be following the flanks of a geophysical
conductive anomaly which has an additional strike length of over
one kilometre. Additional mineralization was also identified at
depth where several holes (TP20-065, 068 and 069) intersected
high-grade copper mineralization associated with extensive
geophysical conductive anomalies below the existing Tower
Deposit. We look forward to this spring and summer when we
will recommence drilling at Tower with a view of expanding the
known mineralization.”
Twenty four drill holes totalling 10,176 m were
completed in the 2020 winter drill program. Please refer to
Figure 1 for drill hole pierce point locations within the Tower
Deposit longitudinal projection. All assays have been
returned and significant down the hole mineralized intervals are
summarized in the table below:
Hole # |
From(m) |
To(m) |
Length(m) |
Cu% |
Zn% |
Au gpt |
Ag gpt |
CuEq% |
Comment |
TP20-064 |
549.20 |
552.19 |
2.99 |
3.00 |
1.55 |
1.56 |
15.50 |
4.80 |
inside deposit |
TP20-065 |
587.48 |
591.77 |
4.29 |
1.25 |
0.12 |
0.30 |
5.17 |
1.55 |
outside deposit |
And |
597.00 |
597.66 |
0.66 |
1.66 |
0.84 |
0.21 |
6.80 |
2.18 |
|
TP20-066 |
509.45 |
511.54 |
2.09 |
1.12 |
0.32 |
0.12 |
3.82 |
1.37 |
inside deposit |
Includes |
509.45 |
510.59 |
1.14 |
1.88 |
0.54 |
0.21 |
6.78 |
2.29 |
|
TP20-067 |
365.20 |
366.85 |
1.65 |
1.23 |
0.18 |
0.27 |
8.58 |
1.57 |
outside deposit |
Includes |
366.24 |
366.85 |
0.61 |
2.10 |
0.29 |
0.48 |
12.05 |
2.65 |
|
TP20-068 |
668.60 |
669.77 |
1.17 |
1.71 |
0.92 |
0.09 |
6.92 |
2.20 |
outside deposit |
And |
708.34 |
711.43 |
3.09 |
1.31 |
4.30 |
0.14 |
7.32 |
3.12 |
|
TP20-069 |
708.34 |
709.46 |
1.12 |
3.07 |
6.34 |
0.29 |
17.57 |
5.87 |
outside deposit |
TP20-70 |
549.39 |
551.71 |
2.32 |
1.83 |
1.06 |
0.17 |
7.48 |
2.43 |
inside deposit |
Includes |
549.39 |
550.3 |
0.91 |
3.63 |
2.56 |
0.18 |
14.50 |
4.87 |
|
TP20-072 |
174.70 |
175.97 |
1.27 |
1.52 |
0.75 |
0.35 |
6.40 |
2.11 |
inside deposit |
TP20-073 |
239.63 |
241.40 |
1.77 |
1.13 |
0.25 |
0.20 |
5.09 |
1.40 |
inside deposit |
Includes |
239.63 |
240.30 |
0.67 |
2.64 |
0.61 |
0.50 |
12.30 |
3.33 |
|
TP20-074 |
255.66 |
256.66 |
1.00 |
5.11 |
1.81 |
1.63 |
23.27 |
7.14 |
inside deposit |
TP20-075 |
344.40 |
347.74 |
3.34 |
8.19 |
1.93 |
1.16 |
35.03 |
10.06 |
inside deposit |
Includes |
344.80 |
347.14 |
2.34 |
11.07 |
2.68 |
1.53 |
47.23 |
13.60 |
|
TP20-076 |
150.72 |
153.79 |
3.07 |
1.77 |
0.41 |
0.49 |
8.09 |
2.34 |
inside deposit |
TP20-077 |
151.28 |
155.63 |
4.35 |
2.72 |
0.03 |
0.30 |
6.98 |
3.00 |
inside deposit |
TP20-078 |
436.35 |
437.85 |
1.10 |
3.46 |
0.39 |
0.13 |
27.42 |
4.08 |
outside deposit |
TP20-080 |
210.70 |
224.23 |
13.53 |
3.96 |
0.84 |
0.50 |
26.45 |
4.88 |
outside deposit |
Includes |
220.41 |
223.07 |
2.66 |
10.35 |
2.27 |
0.89 |
61.96 |
12.42 |
|
TP20-083 |
145.00 |
146.65 |
1.65 |
2.67 |
0.09 |
0.62 |
1.37 |
3.14 |
outside deposit |
TP20-084 |
290.35 |
293.12 |
2.77 |
2.27 |
0.60 |
0.87 |
10.10 |
3.19 |
inside deposit |
TP20-087 |
139.30 |
139.78 |
0.48 |
2.58 |
0.09 |
0.50 |
17.15 |
3.12 |
outside deposit |
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$1.15 zinc,
US$1400 ($45.02/gram) gold, US$20.00 ($0.64/gram) 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.
TP20-071, TP20-079, TP20-081 and TP20-082, TP20-085 and TP20-086
failed to intersect significant mineralization and fell outside the
high-grade Tower Deposit envelope. The numbers may not add up due
to rounding.
Figure 1: Tower Deposit Longitudinal
Projection, 2020 Drill Pierce Point Locations and 2019 P&E
Resource Update Outline.
To view an enhanced version of Figure 1, please
visit:
https://orders.newsfilecorp.com/files/3071/54816_af3063c8b45fd9a1_001full.jpg
Tower Deposit Mineralization, Resource
Expansion, Tower South Anomaly and Property Potential
The high-grade Tower Deposit is defined as a
remobilized, single, steeply dipping, high-grade, Volcanogenic
Massive Sulphide (VMS) lens that is located immediately below an
approximate 100m thick layer of Paleozoic limestone cover. The
Tower Deposit consists of stringers and massive sulphide lenses of
chalcopyrite, pyrite, pyrrhotite and sphalerite. Drilling has
intersected the VMS mineralization over a strike length exceeding
900 m and to a vertical depth of over 600 m. The Tower
Deposit remains open at depth where high-grade minerlization is
associatedwith extensive conductive targets and to the south
where recent drilling outside of the Tower Deposit envelope has
intersected thick, high-grade copper mineralization with
significant credits of zinc, gold and silver (TP20-080). Additional
geophysical surveys have identified the newly identified Tower
South Anomaly (TSA) approximately 750m south of the Tower Deposit.
Two exploratory drill holes have been completed and assays are
presently pending. Within the property limits, the
Tower Deposit and the TSA are associated within a 12 kilometre long
arcuate trending magnetic horizon hosting several additional
untested geophysical conductive targets considered by the Company
to be worthy of follow-up exploration. The depositional environment
of the Tower Property is like that of present and past producing
VMS deposits and mines associated with bi-model volcanism (felsic
to mafic volcanic and volcaniclastic rocks) in the Flin Flon – Snow
Lake greenstone belt.
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. The 2020 winter drill holes were not included in the
current resource.
Tower Property Updated Mineral Resource
Estimate at 1.5% CuEq cut-off(1-10)
Classification |
Tonnes(k) |
Cu(%) |
Zn(%) |
Au(g/t) |
Ag(g/t) |
CuEq(%) |
Cu(Mlbs) |
Zn(Mlbs) |
Au(koz) |
Ag(koz) |
CuEq(Mlbs) |
Indicated |
1,026 |
4.69 |
1.32 |
0.85 |
23.7 |
5.74 |
106.0 |
29.8 |
28.1 |
783 |
129.8 |
Inferred |
367 |
3.53 |
1.05 |
0.57 |
18.0 |
4.29 |
28.6 |
8.5 |
6.8 |
212 |
34.7 |
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 known
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# |
UTM-E |
UTM-N |
Dip° |
Azimuth° |
Length metres |
TP20-064 |
486563 |
5981091 |
-57 |
293 |
578 |
TP20-065 |
486048 |
5981193 |
-69 |
103 |
629 |
TP20-066 |
486673 |
5981232 |
-54.5 |
278 |
590 |
TP20-067 |
486074 |
5980631 |
-52 |
305 |
389 |
TP20-068 |
486656 |
5981091 |
-61 |
293 |
692 |
TP20-069 |
486048 |
5981193 |
-71 |
103 |
746 |
TP20-070 |
486673 |
5981232 |
-58.5 |
278 |
614 |
TP20-071 |
486119 |
5980593 |
-53 |
305 |
508 |
TP20-072 |
486433 |
5981238 |
-55 |
302 |
197 |
TP20-073 |
486433 |
5981238 |
-65 |
302 |
263 |
TP20-074 |
486463 |
5981279 |
-67 |
302 |
278 |
TP20-075 |
486479 |
5981240 |
-66 |
287 |
371 |
TP20-076 |
486459 |
5981335 |
-62 |
290 |
198 |
TP20-077 |
486433 |
5981235 |
-49 |
130 |
200 |
TP20-078 |
485766 |
5980942 |
-57 |
130 |
515 |
TP20-079 |
485712 |
5980920 |
-45 |
130 |
425 |
TP20-080 |
485745 |
5980825 |
-49 |
130 |
326 |
TP20-081 |
485745 |
5980825 |
-61 |
130 |
320 |
TP20-082 |
485781 |
5980793 |
-49 |
130 |
326 |
TP20-083 |
458712 |
5980786 |
-49 |
130 |
350 |
TP20-084 |
486569 |
5981335 |
-55 |
281 |
326 |
TP20-085 |
486612 |
5981418 |
-52 |
270 |
335 |
TP20-086 |
486693 |
5981355 |
-56 |
285 |
470 |
TP20-087 |
486693 |
5981355 |
-61 |
285 |
530 |
Quality Control and Quality
Assurance
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.
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.
Visit Rockcliff’s YouTube channel with a message
from President and CEO, Alistair Ross. To access the video, please
visit: https://youtu.be/2C68viQ2PfM.
Cannot view this video?
Visit:https://www.youtube.com/watch?v=2C68viQ2PfM
About Rockcliff Metals
CorporationRockcliff 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.
For more information, please visit
http://rockcliffmetals.comYoutube: Rockcliff Metals
CorporationTwitter: @RockcliffMetalsLinkedin: Rockcliff Metals
CorpInstagram: Rockcliff_Metals
For further information, please
contact:Rockcliff Metals
Corporation
Alistair
Ross
President &
CEO
Cell: (249) 805-9020
contact@rockcliffmetals.com
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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