Rockhaven Resources Ltd.
TSX VENTURE : RK

Rockhaven Resources Ltd.

October 16, 2014 08:45 ET

Rockhaven Resources Ltd. Drills 11.22 g/t Gold Over 1.68 m in Fourth High-Grade Discovery at Klaza Project, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 16, 2014) - Rockhaven Resources Ltd. (TSX VENTURE:RK) ("Rockhaven") is pleased to announce results from reconnaissance drilling and ground geophysical surveys recently completed at its 100%-owned and road-accessible Klaza property, located in the Dawson Range Gold Belt of southern Yukon. The geophysical surveys successfully increased the strike lengths of known zones and identified new, sub-parallel anomalies. A few of the new anomalies were tested by trenches and drill holes, which produced positive results.

News release highlights:

  • Reconnaissance drilling has successfully discovered new mineralized structures including the Western BYG Zone which returned 11.22 g/t gold over 1.68 m.
  • Geophysical surveys have identified numerous untested VLF-EM conductors and coincident magnetic lows, similar to the geophysical anomalies that mark known mineralized structures.

"New discoveries continue to be made at the Klaza property with the Western BYG Zone returning an excellent maiden intercept," stated Matt Turner, CEO of Rockhaven Resources. "The numerous VLF-EM and magnetic targets outlined by the recently completed geophysical surveys provide us with effective tools to find more mineralized structures and greatly expand the exploration potential of the 84 km2 Klaza property."

Reconnaissance Drilling

Widely-spaced drilling and trenching have only been done to test a few of the many soil geochemical and geophysical targets that lie outside of the main drill areas at the Klaza property. This step-out drilling and trenching identified new mineralized zones, thereby confirming the effectiveness of soil geochemical and geophysical exploration techniques. The reconnaissance program included twelve diamond drill holes and five excavator trenches. The best drill result was from the newly discovered Western BYG Zone, which returned 11.22 g/t gold over 1.68 m. This discovery is situated between the gold-rich veins of both the Western BRX and Western Klaza Zones, within the same fault-bounded panel.

Significant results from the reconnaissance holes are shown in the table below. A map showing drill hole locations can be viewed at Rockhaven's website at www.rockhavenresources.com.

Drill Hole Zone ID From
(m)
To
(m)
Interval
(m)
+
Gold (g/t) Silver (g/t) Gold EQ (g/t)*
KL-14-159 Pearl 22.86 25.91 3.05 1.52 8.61 1.69
and 215.15 215.80 0.65 2.23 23.8 2.71
KL-14-162 Pearl 38.35 40.08 1.73 2.00 7.27 2.15
and 52.25 52.70 0.45 2.94 64.0 4.22
KL-14-224 Western BYG 17.89 19.57 1.68 11.22 10.6 11.44
and Western Klaza 251.50 254.53 3.03 0.59 24.5 1.08
incl. 251.50 252.07 0.57 1.72 104 3.80
KL-14-231 unnamed 133.25 133.91 0.66 4.31 15.7 4.62
KL-14-232 unnamed 48.36 49.69 1.33 2.29 38.8 3.07
and Herc 196.41 196.66 0.25 8.06 175 11.56
and 204.14 204.69 0.55 6.75 25.4 7.26
KL-14-234 Pearl 97.28 99.85 2.57 2.09 5.68 2.21
and 128.79 129.20 0.41 5.97 13.6 6.24
and 263.86 264.26 0.40 4.20 15.8 4.52
KL-14-239 unnamed 239.22 240.26 1.04 3.68 20.9 4.10
+ Represents the diamond drill hole length. True widths are estimated to be approximately 80-90% of the interval.
* Gold equivalence (EQ) has been calculated using metal prices of $1200 per ounce gold and $24.00 per ounce silver, to be consistent with earlier calculations and assumes 100% recoveries of both metals.

Geophysical Surveys

The nine main mineralized structures identified on the property to date are associated with coincident magnetic and electro-magnetic (VLF-EM) geophysical anomalies. Magnetic lows result from localized destruction of magnetite in host rocks adjacent to veins, which occurred when mineralizing hydrothermal fluids flowed along the vein structures. Both the veins and the alteration envelope surrounding them typically have much lower magnetic response than the unaltered host rocks. Electro-magnetic conductors are mainly indicative of faults and vein zones and typically are strongest where sulphide minerals are abundant and interconnected.

Geophysical surveys at the Klaza property have outlined several linear magnetic lows, many with coincident VLF-EM conductors, along the inferred strike extensions of the known zones and in untested parts of the property. The geophysical results are key exploration guides that are used to direct widely-spaced drilling and trenching. VLF-EM results indicate that the western extension of the Pearl Zone trends into the Central Klaza Zone, which may explain why this area has a higher density of veins than observed elsewhere on the property. The wide distribution and abundance of geophysical anomalies provides enormous exploration potential for future drill programs.

Geophysical maps from recent surveys at Klaza can be viewed at Rockhaven's website at www.rockhavenresources.com.

All analyses for rock and core samples from the 2014 program were performed by ALS Minerals with sample preparation in Whitehorse and assays and geochemical analyses in North Vancouver. Core samples are routinely analyzed for gold by fire assay followed by atomic absorption spectroscopy (Au-AA24) and 48 other elements by four acid digestion followed by inductively coupled plasma-mass spectrometry (ME-MS61). Samples that exceed the detection limits of the routine methods are assayed for silver, copper, lead and zinc by inductively coupled plasma-atomic emission spectroscopy (Ag/Cu/Pb/Zn - OG62) and gold by gravimetric analysis (Au-GRA22). Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, coarse reject duplicates, field duplicates and blanks are routinely inserted into the sample stream to ensure integrity of the assay process. All of the results reported have passed the QAQC screening.

The 2014 program was managed by Archer, Cathro & Associates (1981) Limited (Archer Cathro). Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer Cathro and qualified person for the purpose of National Instrument 43-101.

Rockhaven is a well-funded company focused on growth through exploration of its wholly-owned projects. For additional information concerning Rockhaven or its various exploration projects please visit Rockhaven's website at www.rockhavenresources.com.

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