Rockcliff Metals Corporation (
“Rockcliff” or the
“Company”) (CSE: RCLF) (FRANKFURT: RO0, WKN:
A2H60G) is pleased to announce that all remaining drill
core assay results from the 2019 drill program have been received
and the drilling has identified high-grade copper mineralization
below the existing 100% owned NI 43-101 Indicated resource Rail
deposit, located in Snow Lake, Manitoba. The expanded 2020 Rail
drill program has now commenced with four drills. The drill program
will continue to focus on identifying additional copper
mineralization below the Rail deposit to a vertical depth of 600
metres and to the south along strike of the deposit. The Rail
property is one of Rockcliff’s advanced-stage properties, where a
Preliminary Economic Assessment (“PEA”) is planned for completion
in the second quarter of 2020. The Rail deposit is within trucking
distance to the Company’s leased mill and tailings complex.
Rockcliff’s President and CEO Alistair Ross
commented: “These results continue to confirm our belief that the
Rail property will be shown to be a viable mine as we continue to
generate and collect drill hole data for the Preliminary Economic
Assessment, to be completed in the second quarter of this
year.”
The Company has received down-the-hole assay
results from the remaining 20 holes that were completed in late
2019 (see table below). The previous 5 holes, RL19-062 and
RL19-064 were released on September 26, 2019 and RL19-063, RL19-065
and RL19-066 were released on November 18, 2019.
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HOLE ID |
From (m) |
To (m) |
Length (m) |
Cu % |
Zn % |
Au gpt |
Ag gpt |
CuEq % |
RL19-062 |
250.46 |
254.06 |
3.60 |
5.09 |
1.98 |
1.57 |
21.00 |
7.04 |
RL19-063 |
267.73 |
273.07 |
5.34 |
1.23 |
0.46 |
0.38 |
4.33 |
1.69 |
includes |
270.66 |
272.50 |
1.84 |
2.42 |
0.44 |
0.61 |
7.28 |
3.04 |
RL19-064 |
335.23 |
337.67 |
2.44 |
8.76 |
1.03 |
2.20 |
24.61 |
10.78 |
RL19-065 |
472.17 |
474.21 |
2.04 |
2.60 |
0.70 |
0.76 |
6.66 |
3.41 |
RL19-066 |
537.86 |
540.00 |
2.14 |
1.76 |
0.97 |
1.14 |
6.79 |
2.92 |
RL19-067 |
597.5 |
599 |
1.50 |
0.91 |
0.46 |
0.21 |
3.05 |
1.25 |
RL19-068 |
256.67 |
258.39 |
1.72 |
1.70 |
0.48 |
1.21 |
6.81 |
2.72 |
includes |
258.14 |
258.39 |
0.25 |
6.16 |
1.61 |
6.72 |
27.20 |
11.29 |
RL19-070 |
323.41 |
323.65 |
0.24 |
1.76 |
4.28 |
1.19 |
22.20 |
4.37 |
RL19-072 |
459.86 |
460.38 |
0.52 |
2.32 |
2.26 |
0.40 |
6.06 |
3.50 |
RL19-074 |
218.51 |
219.59 |
1.08 |
2.43 |
0.28 |
0.49 |
8.31 |
2.93 |
RL19075 |
450.00 |
452.40 |
2.40 |
9.28 |
1.90 |
5.35 |
27.24 |
13.65 |
includes |
450.80 |
451.90 |
1.10 |
13.88 |
2.40 |
9.18 |
43.12 |
21.03 |
RL19-076 |
336.7 |
339.22 |
2.52 |
0.69 |
0.07 |
0.09 |
1.20 |
0.78 |
RL19-077 |
535.46 |
538 |
2.54 |
2.35 |
0.45 |
2.50 |
10.35 |
4.20 |
includes |
535.46 |
536.5 |
1.04 |
5.23 |
0.88 |
6.04 |
23.67 |
9.61 |
RL19-078 |
390.54 |
393.9 |
3.36 |
2.41 |
0.35 |
0.50 |
5.94 |
2.92 |
includes |
392.63 |
393.13 |
0.5 |
7.29 |
0.77 |
2.06 |
21.34 |
9.10 |
RL19-079 |
596 |
597.95 |
1.95 |
1.02 |
0.19 |
0.11 |
1.83 |
1.18 |
includes |
597.2 |
597.63 |
0.43 |
2.81 |
0.34 |
0.35 |
5.14 |
3.21 |
RL19-081 |
613.15 |
615.8 |
2.65 |
0.72 |
0.20 |
0.10 |
1.11 |
0.87 |
RL19-083 |
506.72 |
508.81 |
2.09 |
2.22 |
0.28 |
0.31 |
4.61 |
2.57 |
RL19-085 |
347.68 |
355.03 |
7.35 |
2.25 |
1.20 |
0.75 |
7.10 |
3.25 |
includes |
347.68 |
349.71 |
2.03 |
7.31 |
3.64 |
2.58 |
24.02 |
10.57 |
RL19-086 |
375.78 |
376.25 |
0.47 |
0.45 |
0.99 |
0.08 |
6.90 |
0.95 |
m = metres represent down hole thickness as true thickness is not
currently known, gpt = grams per tonne, CuEq** = copper equivalent
values used: US$3.00 copper, US$1.15 zinc, US$1300(US$41.80/g)
gold, US$20.00(US$0.64/g) silver. 100% metal recoveries were
applied. CuEq = Cu grade % + (Zn grade % X Zn price per
lb / Cu price per pound) + (Au grade g/t X Au price per gram / Cu
price per tonne) X 100 + (Ag grade g/t X Ag price per gram / Cu
price per tonne) X 100. Drill holes RL19--069, RL19-071 and
RL19-073 did not intersect significant mineralization and defined
the northern limit of the Rail deposit. Holes RL19-080,
RL19-082 and RL19-084 were drilled for metallurgical and ore
sorting studies. |
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Figure 1: Rail longitudinal section outlining
Rail deposit, mineralized down the hole drill intercepts and
geophysical borehole anomalies associated with and proximal to the
Rail deposit.
To view an image of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3071/51604_3f946c9dd4b3da90_001full.jpg
The Rail property is one of Rockcliff’s advanced
stage properties where a PEA is expected to be completed during the
second quarter of 2020 and is part of the Company’s overall
development strategy as one of the potential projects to be
selected as the optimal project to advance to a Feasibility
Study.
Additional drill hole information is highlighted below.
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Hole ID |
UTMEasting |
UTMNorthing |
Dip° |
Azimuth° |
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RL19-067 |
397593 |
6068628 |
-70 |
270 |
815 |
RL19-068 |
397487 |
6068817 |
-52 |
270 |
437 |
RL19-069 |
397369 |
6069002 |
-46 |
270 |
238 |
RL19-070 |
397487 |
6068817 |
-63 |
270 |
441 |
RL19-071 |
397477 |
6069003 |
-62 |
270 |
425 |
RL19-072 |
397611 |
6068782 |
-57 |
270 |
485 |
RL19-073 |
397477 |
6069003 |
-46 |
270 |
210 |
RL19-074 |
397543 |
6068197 |
-45 |
270 |
225 |
RL19-075 |
397617 |
6068486 |
-56 |
270 |
430 |
RL19-076 |
397627 |
6068327 |
-47 |
268 |
370 |
RL19-077 |
397617 |
6068486 |
-63 |
270 |
512 |
RL19-078 |
397627 |
6068327 |
-58 |
268 |
445 |
RL19-079 |
397617 |
6068486 |
-68 |
270 |
635 |
RL19-080 |
397383 |
6068622 |
-45 |
279 |
122 |
RL19-081 |
397691 |
6068192 |
-61 |
270 |
734 |
RL19-082 |
397454 |
6068377 |
-40 |
274 |
131 |
RL19-083 |
397691 |
6068192 |
-55 |
270 |
538 |
RL19-084 |
397435 |
6068500 |
-48 |
270 |
122 |
RL19-085 |
397586 |
6068417 |
-60 |
270 |
458 |
RL19-086 |
397586 |
6068417 |
-47 |
270 |
428 |
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The Rail Deposit: National Instrument 43-101 Indicated
Resource (“NI 43-101 Compliant Resource”)
Rockcliff filed an initial NI 43-101 Compliant
Resource on the Rail Deposit on December 20, 2010. The report
entitled “Mineral Resource Evaluation, Rail Polymetallic Sulphide
Deposit, Snow Lake, Manitoba”, dated December 19, 2010 (the
“Rail Deposit Report”), was prepared by Sébastien
Bernier, M. Sc., P.Geo, and Dominic Chartier, P.Geo., qualified
persons under National Instrument 43-101, on behalf of SRK
Consulting (Canada) Inc. (“SRK”). The Rail Deposit
Report is available for viewing on the SEDAR profile for Rockcliff
Resources Inc. (“Rockcliff Resources”), the
predecessor of the Company, at www.sedar.com.
The Mineral Resource Statement for the Rail
Deposit is reported at a cut-off grade of 2.0% copper. The
statement includes metal grades for copper, zinc, gold and silver
but not lead because this metal is present at near detection
limits. The Mineral Resource Statement for the Rail Deposit is
summarized in the table below.
Table 1: Mineral Resource Statement*, Rail Polymetallic
Sulphide Deposit,
Manitoba, SRK, November 4, 2010
Resource Category |
Quantity |
Grade |
Contained |
(tonnes) |
Cu (%) |
Zn (%) |
Au (g/t) |
Ag (g/t) |
Cu (pounds) |
Indicated |
822,000 |
3.04 |
0.90 |
0.66 |
9.25 |
55,090,000 |
Inferred |
- |
- |
- |
- |
- |
- |
*Reported at a cut-off grade of 2.0 percent copper. Cut-off
grade is based on copper price of US$3.00 per pound and a
metallurgical recovery of eighty percent, without considering
revenues from other metals. All figures rounded to reflect
the relative accuracy of the estimates. Mineral resources are
not mineral reserves and do not have demonstrated economic
viability. |
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The mineral resources are reported at a cut-off
grade of 2.0% copper to reflect “the reasonable prospects” for
economic extraction. SRK considers the Rail Deposit to be
amenable to extraction using underground mining methods. The
mineral resources presented in the Mineral Resource Statement for
the Rail Deposit in Table 1 are not mineral reserves and do not
have demonstrated economic viability. There is no certainty that
all or any part of the mineral resources will be converted into
mineral reserves. The Indicated Mineral Resource for the Rail
Deposit was classified according to the CIM Definition Standards
for Mineral Resources and Mineral Reserves (December 2005) by
Sebastien Bernier, P. Geo (APGO#1847), an appropriate independent
person for the purpose of National Instrument 43-101.
Quality Control and Quality Assurance
Samples of half core were packaged and shipped
directly from Rockcliff’s field office to TSL Laboratories (“TSL”),
in Saskatoon, Saskatchewan. TSL is a Canadian assay
laboratory and is accredited under ISO/IEC 17025. Each bagged
core sample was dried, crushed to 70% passing 10 mesh and a 250g
pulp was pulverized to 95% passing 150 mesh for assaying. A
0.5g cut was taken from each pulp for base metal analyses 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 an atomic absorption finish. Samples greater than
the upper detection limit (3000 ppb) are reanalyzed using fire
assay gravimetric using a 1 AT charge. Rockcliff
inserted certified blanks and standards in the sample stream to
ensure lab integrity. Rockcliff has no relationship with TSL other
than TSL being a service provider to the Company.
Ken Lapierre P.Geo., Vice-President, Exploration
of Rockcliff, a Qualified Person in accordance with Canadian
regulatory requirements as set out in NI 43-101, has reviewed and
approved the scientific and technical information that forms the
basis for the disclosure contained in this press release.
About Rockcliff Metals Corporation
Rockcliff is a well-funded Canadian resource
development and exploration company and near-term copper producer,
with a leased 1,000 tpd processing and tailings facility as well as
several advanced-stage, high-grade copper dominant Volcanogenic
Massive Sulphide (“VMS”) deposits in central
Manitoba. The Company is a major copper landholder in the
Flin Flon-Snow Lake greenstone belt which is home to the largest
Paleoproterozoic VMS district in the world, hosting mines and
deposits containing copper, zinc, gold and silver. The
Company’s extensive portfolio of properties totals over 4,500
square kilometres and includes eight of the highest-grade,
undeveloped VMS deposits in the belt.
For more information, please visit
http://rockcliffmetals.comTwitter: @RockcliffMetalsFacebook:
Rockcliff Metals Corporation
For further information, please
contact:Rockcliff Metals
Corporation
Alistair
Ross
President &
CEO
Cell: (705)
507-4251
aross@rockcliffmetals.com
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 contained in
this news release, 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 a guarantee of
future performance and actual results or developments may differ
materially from those in the forward-looking statements.
The Canadian Securities Exchange does not accept
responsibility for the adequacy or accuracy of this news
release.
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