TORONTO, ONTARIO–(Marketwired – Sept. 6, 2016) – Rockcliff Copper Corporation (“Rockcliff“) (TSX VENTURE:RCU) today announced that a second phase drill program on the Talbot property is planned to commence in October. The fully permitted program is planned to include between 10-15 holes totalling approximately 5,000 metres and will focus on three areas centered on high priority targets. The majority of the drilling will focus on expansion of existing resources (high grade Talbot Deposit) and discovery of additional zones of gold-rich Volcanogenic Massive Sulphide (VMS) mineralization at the North Copper Zone and the Central Target Anomaly. The property is strategically located in the prolific Flin Flon-Snow Lake greenstone belt, the most prolific and highest grade VMS District in Canada and the largest Paleoproterozoic VMS District in the world.
On February 4, 2016 Rockcliff announced the completion of a National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) technical report titled “Technical Report on the Talbot Property, Manitoba, Canada” (the “Technical Report“) 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
| Zone | Tonnes (kt) | Grades | Contained Metal | |||||||||||||||
| 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 Main 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 metre. |
| 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 have not demonstrated economic viability. |
For additional information on Rockcliff’s high grade copper-rich VMS properties please visit our website at www.rockcliffcoppercorp.com.
The high grade Talbot Deposit is defined as a stratabound, VMS deposit consisting of several lenses of coarse grain to stringer to massive sulphides of pyrite, chalcopyrite, sphalerite and pyrrhotite in a quartzofeldspathic gneiss. The depositional environment is similar to that of present and past producing base metal deposits of felsic to mafic volcanic and volcaniclastic rocks in the Flin Flon-Snow Lake Greenstone Belt.
About Rockcliff Copper Corporation
Rockcliff is a Canadian resource exploration company focused on discovery and resource expansion of its high-quality mineral properties at its expansive Snow Lake Project in central Manitoba, totalling in excess of 35,000 hectares. The Project includes two high grade VMS copper-rich NI 43-101 Resources (the Talbot Deposit and the Rail Deposit), a net smelter return royalty on the Tower Property which hosts the T-1 Copper Deposit, one high grade historic VMS copper resource (the Lon Deposit), and several additional properties with VMS potential (Freebeth, Dickstone North and Tramping). Rockcliff also 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.
Rockcliff is well funded with approximately $3.5M in its treasury and no debt.
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.
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. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, exploration results, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by law.
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
[email protected]
CHF Capital Markets
Cathy Hume
CEO
(416) 868-1079 ext.231
[email protected]
