TORONTO, ONTARIO--(Marketwired - Jan. 5, 2017) - Rockcliff Copper Corporation ("Rockcliff" or the "Company") (TSX VENTURE:RCU)(FRANKFURT:RO0)(WKN:A142TR) is pleased to announce additional drill hole assay and geophysical drill hole survey results from its ongoing phase 2 exploration program on the Talbot Property. The property forms part of Rockcliff's Snow Lake Project centered on the Snow Lake Mining Camp, Manitoba.
- Recently completed drill hole intersects high grade mineralization of the Talbot deposit main lens. Drill hole TB-012 intersects 5.3 metres grading 3.9% Copper Equivalent (Cueq) (2.0% copper, 1.94g/t gold, 0.32% zinc, 20.03g/t silver)
- Surveying of drill holes locates one of the largest undrilled conductive geophysical anomaly/plate yet discovered below the Talbot deposit north lens with dimensions of 300 metres by 600 metres.
At the Talbot deposit main lens, drill hole TB-012 intersected the main lens mineralization confirming continuity of the main lens in an area void of drilling along the deposit's north boundary of the main lens.
At the Talbot deposit north lens, the Company completed several drill hole geophysical surveys on historic holes and on its recently completed drill holes TB013 and TB014 which intersected 7.1 metres grading 4.1% Cueq and 2.6 metres grading 2.4% Cueq respectively (please see press release dated November 29, 2016 for additional information). The survey results identified a new drill target that represents one of the largest undrilled conductive plates yet discovered on the property below the existing Talbot deposit north lens mineralization, measuring 300 metres along strike and 600 metres of depth extent. Historic hole TLS007 appears to have intersected the very top edge of the conductive plate intersecting 4.4% Cueq across 2.1 metres. A preliminary longitudinal image of the conductive plate location relative to the Talbot deposit is shown below.
Ken Lapierre, President and CEO commented, "All large mines in the Flin Flon-Snow Lake greenstone belt have extensive multiple stacked mineralized lenses that coincide with multiple stacked extensive conductive geophysical anomalies or plates. At Talbot, the fact that we have discovered the largest undrilled geophysical conductive plate immediately below the Talbot deposit is encouraging and a real testament to the significant upside potential on this property located within this prolific world class mineral belt. Our phase 2 drill program will continue immediately and will focus on the discovery of additional mineralized lenses proximal to the Talbot deposit".
3D Longitudinal Section of Talbot Deposit and
Buried Untested Geophysical Plate below Deposit
To view the image associated with this release, please visit the following link: http://media3.marketwire.com/docs/1081829_image.jpg
Drill hole information from hole TB-012 is tabled below.
||Cueq (Copper equivalent %)
||Talbot deposit-main lens
(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) + (Ag grade gpt x Ag price))/Cu price x 100. The numbers may not add up due to rounding.
TB-012 was drilled at UTM NAD83 co-ordinates 458520E/5997036N, to a depth of 962 metres, along an azimuth of 285 degrees and a dip of -70 degrees.
The depositional environment at the Talbot Property is similar to that of present and past producing base metal mines of bi-modal volcaniclastic rocks in the prolific Flin Flon - Snow Lake Greenstone Belt. The gold-rich Talbot copper deposit is defined as a stratabound, VMS deposit consisting of several lenses of stringer to massive sulphides of pyrite, chalcopyrite, sphalerite and pyrrhotite in a quartzofeldspathic gneiss.
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 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 Hudson Bay Exploration and Development Company Limited, a wholly-owned subsidiary of Hudbay Minerals Inc. Please refer to the news release dated October 11, 2016 for specific terms 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 NI 43-101 copper deposits (the gold-rich Talbot copper deposit and the Rail copper deposit), the highest grade unmined historical zinc deposits (the Lon zinc deposit, the Bur zinc deposit and the Morgan zinc deposit), includes the highest grade former lode gold producer (Laguna) and a Net Smelter Return Royalty (NSR) on the Tower property which includes the T-1 copper deposit in the FF-SL greenstone belt. Rockcliff also owns 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.
Rockcliff is well funded with approximately CDN$2.5 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.