Rockhaven Resources Ltd.

TSX VENTURE : RK


Rockhaven Resources Ltd.

November 14, 2012 08:30 ET

Rockhaven Continues to Step Out and Intersects 6.86 g/t Gold and 153 g/t Silver (9.92 g/t Gold Eq) Over 2.27 m at BRX Zone, Klaza Property, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2012) - Rockhaven Resources Ltd. (TSX VENTURE:RK) ("Rockhaven") is pleased to announce final results from 2012 exploration at its 100% owned Klaza gold-silver property, located in the Dawson Gold Belt of southern Yukon. The new assay results are from the last 14 diamond drill holes that tested the BRX Zone (see recent Rockhaven news releases). New highlights from the BRX Zone include:

  • An 81% success rate in drill holes over a 2.4 km strike length and to a depth of 400 m, with the zone still open for expansion along strike and down-dip;

  • Additional high-grade gold and silver results from step-out drilling, including 6.86 g/t gold and 153 g/t silver (9.91 g/t gold EQ) over 2.27 m;

  • Discovery of porphyry-style mineralization in the eastern part of the property; and,

  • Acquisition of more strike length potential through purchase of a 100% interest in 50 claims on the east side of the property.

Drilling at the Klaza property has identified eight main mineralized zones, which have a cumulative mineralized strike length of 8.6 km. Individual zones range from 1 to 75 m in width and are continuously mineralized over strike lengths of 250 to 2400 m. All zones remain open for extension along strike and to depth. The following table shows the drill confirmed strike length of each of the main zones, the maximum down-dip intercept and the best drill intercept to date.

Zone ID Strike Length (m) Maximum Down-Dip Drill Intercept (m) Best Drill Intercept Grade
(2010 to 2012 Diamond Drilling)
Klaza 2000 325 7.20 g/t gold and 260 g/t silver (12.40 g/t gold EQ) over 15.30 m
(December 14, 2010 Rockhaven News Release)
BRX 2400 400 5.78 g/t gold and 111 g/t silver (8.00 g/t gold EQ) over 15.62m
(October 2, 2012 Rockhaven News Release)
Pika 740 250 32.52 g/t gold and 34.3 g/t silver (33.21 g/t gold EQ) over 3.36 m
(December 14, 2010 Rockhaven News Release)
AEX 1650 310 13.05 g/t gold and 17.65 g/t silver (13.40 g/t gold EQ) over 1.31 m
(October 2, 2012 Rockhaven News Release)
BYG 650 150 6.29 g/t gold and 342 g/t silver (13.13 g/t gold EQ) over 1.43 m
(January 30, 2012 Rockhaven News Release)
Dickson 450 100 7.08 g/t gold and 127 g/t silver (9.62 g/t gold EQ) over 1.00 m
(November 1, 2012 Rockhaven News Release)
HERC 460 310 3.39 g/t gold and 205 g/t silver (7.49 g/t gold EQ) over 2.28 m
(November 1, 2012 Rockhaven News Release)
Chevron 250 90 3.97 g/t gold and 95.4 g/t silver (5.88 g/t gold EQ) over 1.26 m
(November 1, 2012 Rockhaven News Release)

BRX Zone

The BRX Zone is a linear, mineralized structure that demonstrates exceptional lateral continuity. Gold and silver are hosted in veins emplaced alongside or in close proximity to a large quartz-feldspar porphyry dyke. Systematic diamond drilling by Rockhaven has tested the BRX Zone with 36 holes spaced approximately 200 m apart over a strike length of 2,400 m and to a maximum down-dip depth of 400 m. The drilling was highly successful with 81% of the holes intersecting greater than 5.0 g/t gold equivalent-metre multiples (gold equivalent grade multiplied by intersected width).

The final hole of the 2012 program, DDH-12-135, cut the zone 400 m down-dip of surface and returned 3.66 g/t gold and 112 g/t silver (5.90 g/t gold EQ) over 2.64 m. This intercept is highly significant because it is the deepest hole drilled at any zone on the property and demonstrates continuity of the well mineralized structures to depth.

Previously announced highlights from the BRX Zone include DDH-12-96 which averaged 5.78 g/t gold and 111 g/t silver (8.00 g/t gold EQ) over 15.62 m (see Rockhaven news release dated October 2, 2012) and DDH-11-37 which averaged 5.43 g/t gold and 50 g/t silver (6.43 g/t gold EQ) over 14.80 m (see Rockhaven news release dated November 2, 2011). These two higher-grade intercepts are from holes located in the western part of the BRX Zone, which remains open for further expansion. Significant assays have been received from 33 of 36 holes that tested the BRX Zone, as compiled in the table below.

Hole
ID
Zone
ID
From (m) To
(m)
Interval
(m)
**
Gold (g/t) Silver (g/t) Gold EQ*
KL-10-04(^) BRX 97.60 98.75 1.15 1.55 23.2 2.01
and(^) 109.83 111.00 1.17 5.07 53.6 6.14
KL-10-11+ BRX 182.00 189.60 7.60 0.89 9.17 1.07
including(^) 182.00 183.00 1.00 2.86 3.7 2.93
and including(^) 188.66 189.60 0.94 3.43 66.8 4.77
and(^) 199.20 200.20 1.00 1.48 43.6 2.35
and(^) 218.00 219.00 1.00 2.66 8.2 2.82
KL-11-22(^) BRX 56.20 61.40 5.20 0.47 124 2.95
KL-11-23(^) BRX 109.00 110.55 1.55 3.99 229 8.57
KL-11-24(^) BRX 72.00 73.37 1.37 3.15 72 4.59
KL-11-29(^) BRX 31.90 41.24 9.34 1.95 147 4.89
including(^) 31.90 34.90 3.00 3.29 407 11.43
KL-11-33(^) BRX 120.30 121.64 1.34 5.51 180 9.11
KL-11-35(^) BRX 112.42 115.44 3.02 3.03 84 4.71
including(^) 126.74 130.60 3.86 5.85 92 7.69
KL-11-37(^) BRX 81.13 95.93 14.80 5.43 50 6.43
including(^) 81.13 82.83 1.70 11.05 133 13.71
and including(^) 88.95 90.17 1.22 34.00 298 39.96
and including(^) 94.68 95.93 1.25 13.1 97 15.04
KL-11-39(^) BRX 151.29 152.94 1.65 23.50 239 28.28
KL-12-66(^)+ BRX 51.28 59.98 8.70 0.74 35.01 1.44
including(^) 58.98 59.98 1.00 2.63 261 7.85
and(^) 63.39 64.39 1.00 2.50 24.60 2.99
and(^) 80.53 81.53 1.00 2.93 15 3.23
KL-12-69(^) BRX 190.44 194.86 4.42 3.23 58.88 4.41
including(^) 190.44 192.26 1.82 5.79 40.20 6.59
KL-12-72(^) BRX 178.48 179.81 1.33 10.60 23.20 11.06
and(^) 203.19 210.00 6.81 1.55 11.02 1.77
including(^) 203.19 204.40 1.21 4.48 15.10 4.78
KL-12-74(^) BRX 206.89 207.89 1.00 4.85 35.70 5.56
and(^) 244.64 246.70 2.06 3.75 0.05 3.75
KL-12-88(^) BRX 236.83 247.42 10.59 1.36 58.1 2.52
including(^) 236.83 239.41 2.58 4.64 181 8.26
KL-12-91(^)+ BRX 295.13 296.50 1.37 3.27 33.6 3.94
and 333.89 336.13 2.24 0.73 19.5 1.12
KL-12-96(^) BRX 329.74 345.36 15.62 5.78 111 8.00
including(^) 329.74 332.06 2.32 25.10 621 37.5
and including(^) 342.46 345.36 2.90 10.55 92.7 12.40
KL-12-97(^)+ BRX 223.86 225.69 1.83 1.61 12.70 1.86
and(^) 236.92 248.51 11.59 1.71 6.44 1.84
including(^) 236.92 238.23 1.31 13.05 17.65 13.40
KL-12-99(^) BRX 204.22 205.22 1.00 0.52 118 2.88
KL-12-102(^) BRX 296.93 308.20 11.27 0.31 40.5 1.12
including(^) 296.93 298.44 1.51 1.75 209 5.93
KL-12-105 BRX 179.84 180.95 1.11 0.54 50 1.54
and 189.46 191.11 1.65 1.62 286 7.34
KL-12-106 BRX 227.99 228.99 1.00 1.01 59.3 2.20
and 250.36 251.36 1.00 3.42 116 5.74
KL-12-109 BRX 266.67 267.86 1.19 3.57 283 9.23
and 276.97 277.97 1.00 0.92 16.90 1.26
KL-12-112+ BRX 262.34 263.11 0.77 1.74 167 5.08
and 266.09 267.09 1.00 1.08 19.80 1.48
KL-12-114+ BRX 45.58 47.85 2.27 6.86 153 9.92
and 81.15 82.15 1.00 2.26 51.2 3.28
KL-12-118 BRX 158.42 166.05 7.63 0.62 33.3 1.29
including 165.05 166.05 1.00 1.85 145 4.75
KL-12-123+ BRX 248.85 249.85 1.00 5.09 37.4 5.84
and 258.33 259.53 1.20 1.89 13.9 2.17
and 277.07 278.07 1.00 1.02 15.05 1.32
KL-12-125+ BRX 202.93 203.98 1.05 3.94 18.20 4.30
and 225.17 228.69 3.52 1.83 17.81 2.19
including 225.17 226.51 1.34 2.69 29.9 3.29
and 236.83 237.83 1.00 1.56 18.55 1.93
and 252.07 257.00 4.93 2.86 20.2 3.26
including 252.07 253.44 1.37 5.75 8.05 5.91
and including 255.85 257.00 1.15 5.36 75.8 6.88
and 265.26 266.26 1.00 2.49 3.33 2.56
and 269.73 270.73 1.00 4.96 5.95 5.08
KL-12-126+ BRX 65.30 68.95 3.65 1.31 43.9 2.19
including 65.30 66.40 1.10 1.62 116 3.94
and including 67.80 68.95 1.15 2.40 22.9 2.86
KL-12-128+ BRX 160.74 162.15 1.41 1.15 10.85 1.37
and 163.80 164.80 1.00 0.80 23.6 1.27
and 171.48 174.15 2.67 1.08 0.96 1.10
KL-12-132+ BRX 186.88 188.36 1.48 5.11 41.1 5.93
KL-12-134 BRX 65.60 66.90 1.30 0.36 53.1 1.42
KL-12-135+ BRX 433.51 436.15 2.64 3.66 112 5.90
including 434.70 436.15 1.45 5.87 197 9.81
** Represents the drill hole intersection length. True widths are estimated to be approximately 80-90% of the interval.
* Gold equivalent calculations used metal prices of $1400 per ounce gold and $28.00 per ounce silver and assumes 100% recoveries.
(^) Previously announced assay result.
+ These holes also intersected previously announced intervals on the Pika, AEX and Herc Zones.
KL-11-30, KL-12-84 and KL-12-103 intercepted the BRX structural zone but did not return significant mineralization.

Porphyry Mineralization

Structurally-controlled mineralization at the Klaza property is believed to be related to a Late Cretaceous intrusive complex centred 2 km southeast of the property. Almost all of Rockhaven's drilling has been done in the distal part of the system where copper-deficient precious metal rich veins predominate. The most easterly hole of the 2012 program (KL-12-134) cut more proximal, porphyry-style mineralization. That hole intersected broad bands of strongly phyllic altered granodiorite, which are cut by barren porphyry dykes and abundant quartz veining with chalcopyrite and molybdenite (see website for photos) The best mineralized band averaged 0.22 g/t gold, 3.60 g/t silver, 0.20% copper and 0.012% molybdenum over 25.99 m.

Hole KL-12-134 lies on the western edge of a strong gold-silver-copper-molybdenum soil geochemical anomaly, which covers an 850 by 750 m area. An excavator trench that explored across part of the soil anomaly near KL-12-134 returned 0.34 g/t gold, 4.20 g/t silver, 0.11% copper and .008% molybdenum over 31.85 m. Follow-up work is planned for 2013 to better evaluate the porphyry potential.

Property Acquisition

Rockhaven has signed a purchase agreement to acquire the Etzel claims which immediately adjoin the eastern boundary of the Klaza property. Rockhaven will pay the vendor $250,000 for 100% ownership of these claims. The claims are subject to an underlying 1.5% net smelter return royalty interest held by a third party.

Previous operators have completed ten shallow drill holes and seven excavator trenches on the Etzel property and have identified structurally-hosted gold-silver veins and porphyry targets. Numerous untested soil geochemical and geophysical anomalies are also present on the claim block. In addition, the newly acquired claims are strategically located with respect to future infrastructure development. With the addition of the Etzel claims, the Klaza property now comprises a total of 381 claims, covering a 73 sq km area.

The 2012 exploration program at the Klaza property included a total of 22,206 m of diamond drilling in 73 holes. Complete results from 69 of the 2012 holes were previously reported (see Rockhaven news releases dated August 23, 2012, October 2, 2012 and October 10, 2012 and November 1, 2012). Maps showing drill hole locations, cross sections, longitudinal sections, assay histograms and soil geochemistry can be viewed on Rockhaven's website at www.rockhavenresources.com.

The Klaza property is located 50 km west of Carmacks in southern Yukon and is road accessible by a two-wheel drive road from the Klondike Highway. The property is favourably situated within the Mt. Nansen gold camp, a district that hosts an extensive system of gold-silver veins and active placer gold mining. Systematic excavator trenching and widely-spaced drilling have explored less than 20% of the 73 sq km property. Untested soil geochemical anomalies and geophysical targets suggest there is good potential for additional discoveries elsewhere on the property.

Core samples from the Klaza property were processed in 36 sample batches with each batch including two assay standards, two blank samples, and two duplicate samples. Trench samples from the property were also processed in 36 sample batches with each batch including one assay standard and one blank sample. Analytical work was done by ALS Minerals with sample preparation in Whitehorse and assays and geochemical analyses in North Vancouver. All samples were routinely analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 48 other elements by four acid digestion (ME-MS61). All overlimit values are determined for gold by fire assay and gravimetric finish (Au-GRA22) and for silver using Ag-OG46. All gold and silver grades reported in this release were calculated from the assay results. No QAQC has been done for molybdenum. All standard, blank and duplicate samples passed QAQC reviews. Individual check assaying of core samples from the Klaza property is being done at Acme Labs in Vancouver.

The 2012 program is being conducted by Archer, Cathro & Associates (1981) Limited. Technical information in this news release has been reviewed by Heather Burrell, B.Sc., P.Geo., a qualified person for the purpose of National Instrument 43-101.

Rockhaven Resources Ltd. is well funded company focused on growth through exploration of its own wholly-owned projects and continues to work towards adding new advanced stage projects to its portfolio. For additional information concerning Rockhaven Resources Ltd. or its various exploration projects please visit the Company's website at www.rockhavenresources.com.

Matthew Turner, CEO and Director

Rockhaven Resources Ltd.

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration or other risk factors.

NEITHER THE 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.

Contact Information