TORONTO, ONTARIO–(Marketwired – April 26, 2017) – Rockcliff Copper Corporation (“Rockcliff” or the “Company”) (TSX VENTURE:RCU)(FRANKFURT:RO0)(WKN:A142TR) is pleased to announce the drill hole assay results from its recently completed Phase 2 drill program on the Talbot Property (“Property”), Manitoba. The Property forms part of Rockcliff’s Snow Lake Project centered on the Snow Lake Mining Camp, Manitoba, Canada.
The Company reports the discovery of a high grade Volcanogenic Massive Sulphide (VMS) zone, termed the North Lens Deep Zone (“Zone”), intersected in the last two holes (TB-019 and TB-020) of the Phase 2 drill program. Both holes tested an area within a large untested geophysical conductive plate termed the North Lens Deep Conductive Plate (“Plate”) and intersected significant VMS mineralization 250 metres (m) apart. The Zone is a new VMS target and is identified within the Plate that has dimensions of approximately 400 m by 1,000 m. Conductivity of the Plate is strengthening at depth below the deepest drill hole (TB-020) intercept for an additional 800 m vertical. Mineralization is open in all directions. Discovery drill hole TB-019, press released on April 6, 2017 intersected:
| 3.94 m grading 7.5% Copper Equivalent (Cueq), (0.24% Cu, 7.3g/t Au, 0.88% Zn, 112.5g/t Ag) including 2.54 m grading 9.9% Cueq, (0.16% Cu, 10.35g/t Au, 0.23% Zn, 156.02g/t Ag) |
Step out drill hole (TB-020) tested an area 250 m below the VMS discovery in drill hole TB-019 and intersected:
| 6.65 m grading 2.4% Cueq (0.81% Cu, 0.67g/t Au, 1.91% Zn, 17.03g/t Ag) including 1.92 m grading 5.4% Cueq (1.44% Cu, 1.66 g/t Au, 5.16% Zn, 26.5g/t Ag) |
Rockcliff President and CEO commented, “This important early stage VMS discovery, initially identified as a high priority geophysical conductive plate, hosts significant concentrations of copper, gold, zinc and silver. The Talbot property also hosts the nearby high grade gold-rich Talbot copper deposit which was historically identified as two separate high priority geophysical conductive plates. Most large VMS mines in the Flin Flon-Snow Lake mining camp are comprised of multiple stacked VMS-rich lenses that were identified initially as geophysical conductive plates and the Talbot property appears to have those same attributes. Further drilling is planned in 2017 to define the Plate’s significant economic potential.”
Please view the longitudinal image on the following page for additional information.
Drill hole assay results from the Company’s completed Phase 2 drill program are tabled below.
| Hole # |
From m |
To m |
Length m |
Cueq %* |
Cu % |
Au g/t | Zn % |
Ag g/t |
Comment |
| TB-019 | 772.45 | 776.39 | 3.94 | 7.49 | 0.24 | 7.30 | 0.88 | 112.50 | North Lens |
| includes | 773.48 | 776.02 | 2.54 | 9.94 | 0.16 | 10.35 | 0.23 | 156.02 | Deep Zone |
| TB-020 | 1030.13 | 1036.78 | 6.65 | 2.40 | 0.81 | 0.67 | 1.91 | 17.03 | |
| includes | 1030.13 | 1032.05 | 1.92 | 5.38 | 1.44 | 1.66 | 5.16 | 26.50 | |
| and | 1120.26 | 1137.53 | 16.91 | 0.64 | 0.57 | 0.07 | 0.00 | 5.77 | Other |
Notes(m) = metres represents down the hole thickness as true thickness is not currently known, % = percentage, g/t = grams per tonne, *copper equivalent value used US$2.50/pound copper, US1300/ troy ounce gold, US$1.15/pound zinc and US$20 /per ounce silver, 100% metal recoveries were applied, copper equivalent calculation is: CuEq = Cu grade + ((Zn grade%/100 x Zn price) + (Au grade gpt x Au price/gram) + (Ag grade gpt x Ag price/gram))/Cu price x 100. The numbers may not add up due to rounding. TB019 was press released on April 6, 2017.
North Lens Deep Conductive Plate:
A preliminary 3D longitudinal section of the Talbot deposit area highlighting the known nearby conductive plates and location of discovery drill hole TB-019 and step out drill hole TB-020 are shown below.
To view the image associated with this release, please visit the following link: http://media3.marketwire.com/docs/Rockcliff_MAP.pdf
*Please review the high grade gold-rich Talbot copper deposit NI 43-101 Resource estimate on the following page for additional information.
Drill hole TB-019 tested the very top edge of the Plate located below the Talbot deposit north lens. Step out drill hole TB-020 tested the Plate approximately 250 m below drill hole TB-019. Both holes intersected gold-rich VMS mineralization termed the North Lens Deep Zone. Additional down-the-hole geophysics confirmed that the conductivity below the VMS mineralization intersected in drill hole TB-020 strengthened below the hole. The Plate measured approximately 400 m by 1000 m.
Drill hole TB-019 was drilled at UTM NAD83 co-ordinates 458634E/5997410N, to a depth of 926 m, along an azimuth of 285 degrees, and a dip of -70 degrees.
Drill hole TB-020 was drilled at UTM NAD83 co-ordinates 458775E/5997350N, to a depth of 1160 m, along an azimuth of 285 degrees, and a dip of -73 degrees.
Talbot Deposit NI 43-101 Resource:
On February 4, 2016, Rockcliff announced on the Property an Inferred Mineral Resource as set out in the National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) technical report dated January 25, 2016 and titled “Technical Report on the Talbot Property, Manitoba, Canada” (the “Technical Report“), a copy of which is available on the Company’s SEDAR profile at www.sedar.com, in respect of an initial Mineral Resource Estimate prepared by Roscoe Postle Associates Inc. (“RPA”) for the Talbot deposit located on the Talbot Property, central Manitoba.
The Inferred Mineral Resource Statement prepared by RPA for the Talbot deposit is detailed below.
| Mineral Resource Statement, Talbot Deposit, Manitoba, RPA, January 26, 2016 | |||||||||
| Grades | Contained Metal | ||||||||
| Zone | Tonnes (kt) |
Cu (%) |
Au (g/t) |
Zn (%) |
Ag (g/t) |
Cu (Mlb) |
Au (koz) |
Zn (Mlb) |
Ag (koz) |
| Talbot Main | 1,441.0 | 3.4 | 2.6 | 2.4 | 61.0 | 107.0 | 118.6 | 76.4 | 2,827.8 |
| Talbot FW | 443.9 | 2.2 | 2.0 | 2.4 | 55.6 | 22.0 | 28.5 | 23.2 | 793.8 |
| North Lens | 283.4 | 0.7 | 2.0 | 1.3 | 20.6 | 4.6 | 18.3 | 7.9 | 187.6 |
| Total | 2,168.3 | 2.8 | 2.4 | 2.2 | 54.6 | 133.6 | 165.4 | 107.4 | 3,809.3 |
| Notes: | |
| 1. | CIM definitions were followed for the estimation of Mineral Resources. 2. Mineral resources are estimated at a cut-off grade of $140 Net Smelter Return (NSR) (equivalent to a copper NSR cut-off of 2.0%) using metal prices, estimated recoveries and offsite payments. 3. Mineral Resources are estimated using a long-term copper price of US$3.50 per pound, gold price of US$1450 per ounce, zinc price of US$1.25 per pound and silver price of US$22 per ounce. 4. An US$/C$exchange rate of 1.18 was used. 5. A minimum mining width of 2 m was used. 6. The average bulk density is 3.2t per cubic meter. 7. Numbers may not add due to rounding. 8. Given the tonnage, grade and orientation of the deposit, RPA considers the Talbot Deposit to be reasonably amenable to extraction using underground mining methods. 9. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. |
Laboratory QA/QC
Samples of half core are packaged and shipped directly from Rockcliff’s field office to TSL Laboratories (TSL), Saskatoon, Saskatchewan. TSL is a Canadian assay laboratory and is accredited under ISO/IEC 17025. Each bagged core sample is dried, crushed to 70% passing 10 mesh and a 250g pulp is pulverized to 95% passing 150 mesh for assaying. A 0.5g cut is taken from each pulp for base metal analysis 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 fire assay gravimetric and atomic absorption finish. Samples greater than an upper detection limit (3000 ppb) are reanalyzed using a 1 AT charge. Rockcliff inserted certified blanks and standards in the sample stream to ensure lab integrity.
Rockcliff can earn a 51% interest in the Talbot Property from Hudbay Minerals Inc. Please refer to the news release dated October 11, 2016 for specific points of the option agreement.
Ken Lapierre P.Geo., 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 Copper Corporation
Rockcliff is a Canadian resource exploration company focused on the discovery, advancement and consolidation of the highest grade unmined metal deposits in the prolific Flin Flon – Snow Lake (FF-SL) greenstone belt specifically centered on Snow Lake, Manitoba, Canada. The Snow Lake Project, totalling in excess of 45,000 collective hectares is located in and around the Snow Lake mining camp and hosts the highest grade unmined NI 43-101 copper deposits (the gold-rich Talbot copper deposit and the Rail copper deposit), and the highest grade unmined historical zinc deposits (the Lon zinc deposit, the Bur zinc deposit, the Morgan zinc deposit and the down dip continuation of the Pen zinc deposit). The Snow Lake Project also includes a high grade former lode gold producer (Laguna gold property), a Net Smelter Royalty (NSR) on the Tower property (the T-1 copper deposit) and the near surface MacBride zinc deposit located north of Snow Lake near Leaf Rapids, Manitoba. Additionally, Rockcliff owns a zinc-silver rich NI 43-101 Resource (the Shihan deposit) in Ontario and a royalty on two gold properties in Colombia, South America.
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 within, 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 guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Ken Lapierre, P.Geo
President & CEO
Cell: (647) 678-3879
Off: (416) 644-1752
[email protected]
CHF Capital Markets
Cathy Hume, CEO
Off: (416) 868-1079
[email protected]
