TORONTO, ONTARIO--(Marketwired - Nov. 1, 2016) - Rockcliff Copper Corporation ("Rockcliff "or the "Company") (TSX VENTURE:RCU) is pleased to announce the first drill hole assay results from its phase 2 drill program on the Talbot Property, Manitoba. Drill hole TB-011 intersected multiple lenses of volcanogenic massive sulphide (VMS) mineralization with the following composite results;
Main Lens-6.3 metres grading 9.0% Cueq including 1.7 metres grading 20.4% Cueq, Footwall Lens-7.2 metres grading 3.6% Cueq and Hanging Wall Lens-3.5 metres grading 2.8%Cueq
Ken Lapierre, President and CEO commented, "With high grade copper and gold assays in multiple zones including a newly intersected mineralized hangingwall zone, we have decided to increase our planned drill meterage to 6,000 metres from its original 5,000 metres. All three lenses have significant grades while the main lens contains high grade gold mineralization which could have significant economic benefits for the property moving forward. The gold-rich Talbot copper deposit is open in all directions and we look forward to expanding its limits as well as testing proximal high priority geophysical targets."
Completed drill hole information from its ongoing phase 2 drill program is tabled below.
||Cueq (Copper equivalent %)
||Talbot Deposit(TD)-New HW lens
||TD-high grade copper corridor of main lens
||TD-footwall FW lens extension
||(m) = metres represents down the hole thickness as true thickness are 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*2204.6 x Zn price) + (Au grade/32.15/1000 x Au price) + (Ag grade/32.15/1000 x Ag price)/Cu price/20. The numbers may not add up due to rounding.
TB-011 was drilled at UTM NAD83 co-ordinates 458451E/5997044N, to a depth of 785 metres, along an azimuth of 285 degrees, and a dip of -70 degrees.
The gold-rich Talbot copper deposit is defined as a stratabound, VMS deposit consisting of several lenses of coarse grained 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 bi-modal volcaniclastic rocks in the Flin Flon - Snow Lake Greenstone Belt.
On February 4, 2016, Rockcliff announced on the Talbot 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 gold-rich Talbot copper deposit is detailed below.
Mineral Resource Statement, Talbot Deposit, Manitoba, RPA, January 26, 2016
|Talbot Main FW
||CIM definitions were followed for the estimation of Mineral Resources.
||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.
||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$22 per ounce.
||An US$/C$exchange rate of 1.18 was used.
||A minimum mining width of 2 m was used.
||The average bulk density is 3.2t per cubic meter.
||Numbers may not add due to rounding.
||Given the tonnage, grade and orientation of the deposit, RPA considers the Talbot Deposit to be reasonably amenable to extraction using underground mining methods.
||Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
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 an 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 Hudson Bay Exploration and Development Company Limited (HBED), a wholly owned subsidiary of Hudbay Minerals Inc. Please refer to the news release dated October 11, 2016 for specific points of the option agreement.
Please visit our website at www.rockcliffcoppercorp.com for additional information.
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, MB. 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 copper deposits, the highest grade unmined zinc deposits and the highest grade former gold producer. The properties include two high grade VMS NI 43-101 Resources (the gold-rich Talbot copper deposit and the Rail copper deposit), two historic high grade zinc-rich VMS deposits (the Lon zinc deposit and the Bur zinc deposit),and a Net Smelter Return Royalty (NSR) on the Tower property which includes the T-1 copper deposit. The Snow Lake Project also includes the highest grade former lode gold producer (Laguna) in the FF-SL greenstone belt. 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 over $3.0 million in its treasury and no debt.
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.