Rockcliff to Drill Untested Anomalies at the High-Grade Bur Property, Red Cloud to Assist Rockcliff in Enhancing Corporate Profile
Toronto, Ontario--(Newsfile Corp. - February 7, 2023) - Rockcliff Metals Corporation (CSE: RCLF) (OTCQB: RKCLF) ("Rockcliff" or the "Company") is pleased to announce drilling has been initiated at its 100% owned Bur property. Drilling will target several high priority untested anomalies proximal to the high-grade Bur volcanogenic massive sulphide ("VMS") Deposit.
Also, Rockcliff is pleased to announce that it has appointed Red Cloud Financial Services Inc. ("Red Cloud") to broaden its investor awareness to the market through a wide range of corporate advisory services. Red Cloud is a Toronto-based financial services company that provides assistance to mineral exploration and mining companies in accessing capital markets and enhancing their corporate profile.
Rockcliff's Interim President and CEO Ken Lapierre commented, "Our goal is to achieve critical mass with our existing high-grade copper deposits and continue to explore our extensive property portfolio for the next big copper discovery within the world class Snow Lake mining camp. This year's winter drill program will focus on discovery near our existing deposits at the Bur and Penex Properties. Several untested high-priority drill targets on both properties have excellent potential for discovery. Drilling has now begun at the Bur Property on targets strategically located in the hangingwall and along strike of our 5.3 million tonne, NI 43-101 Bur VMS Deposit. Discovery of new copper mineralization would significantly advance the economic potential at Bur. We look forward in enhancing our corporate profile which we hope will include exciting news to the market in this year's winter drill program."
Rockcliff remains the largest junior landholder in the Snow Lake mining camp and surrounding area within the Flin Flon-Snow Lake Greenstone Belt (see Figure 1 below).
Figure 1: Location of the Bur and Penex Properties (circled in red) within Rockcliff's Extensive Land Position (in blue) will be the Focus of the Present Drill Program
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The 100% owned Bur Property hosts the Bur VMS Deposit and is located approximately 22 kilometres by gravel road from the center of the Snow Lake Mining Camp. The Bur VMS Deposit is a strategic, high-grade and significant resource of copper and zinc. It remains open at depth and along strike. Additional nearby geophysical targets have been identified which will be tested in this drill program (see Figure 2 below).
Figure 2: Plan View of Bur VMS Deposit with Northeast projection and Winter Drill Target Areas
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A total of 1,000-1,500 metres of drilling in six to eight holes are planned. Several areas with similar geological, geophysical and structural characteristics to those associated with the Bur VMS Deposit remain unexplained by drilling.
Rockcliff completed a NI 43-101 Technical Report in Q4 2021 on the Bur Property and press released the report on November 22, 2021. The Technical Report prepared by Stantec, with an effective date of October 26, 2021, is summarized below:
Bur VMS Deposit Mineral Resource Estimate at a 2.3% CuEq Cut-Off Grade (1-12)
CIM definitions are followed for classification of Mineral Resource.
Mineral resources are contained within a mineralized vein (zone) dipping at approximately 60 degrees towards the northwest whose closest vertical depth from surface is 6 m and maximum vertical depth is 1,274 m.
Resources are constrained to a minimum true vein thickness of 0.2 m and where calculated block revenues after recovery are greater than costs for mining.
CuEq (%) = Cu (%) + Zn (%) x 0.347 + Au(gpt) x 0.430 +Ag(gpt) x 0.005
ZnEq (%) = Cu (%) x 2.885 + Zn (%) + Au(gpt) x 1.241 + Ag(gpt) x 0.016
CuEq and ZnEq formulas are calculated using the following revenue inputs: Cu US$ 3.26/lb, Zn US$ 1.13/lb, Au US$ 1,744/oz, and Ag US$ 22.05/oz. Metal recoveries are: 80% Cu, 80% Zn, 40% Au and 40% Ag.
Mining costs used to determine prospects for eventual economic extraction total C$110/t.
US$ to C$ exchange rate applied is 1:1.31.
Specific gravity for the mineralized zone is fixed at 3.1.
Totals may not represent the sum of the parts due to rounding.
The Mineral Resource estimate has been prepared by Derek Loveday, P. Geo. of Stantec Consulting Services Ltd. in conformity with CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines and are reported in accordance with the Canadian Securities Administrators NI 43-101. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that any mineral resource will be converted into mineral reserve.
The 100% owned Bur Property is part of the Company's extensive Manitoba property portfolio, has excellent infrastructure with a year-round access road, clearing for portable buildings, and a box cut and portal. The Bur Property lies within the Flin Flon-Snow Lake greenstone belt, the largest Paleoproterozoic VMS district in the world and the most prolific VMS district in Canada.
A copy of the Technical Report is available on the Company's SEDAR issuer profile at www.SEDAR.com and the Company's website at http://rockcliffmetals.com.
Ken Lapierre P.Geo., Interim 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 Metals Corporation
Rockcliff is a Canadian exploration and resource development Company with several advanced-stage, high-grade VMS copper-zinc dominant deposits in the Snow Lake area of central Manitoba. The Company is a major landholder in the Flin Flon-Snow Lake Greenstone Belt which is the largest Paleoproterozoic VMS district in the world, hosting high-grade mines and deposits containing copper, zinc, gold and silver. The Company's properties includes six 100% owned high grade, undeveloped VMS deposits and a seventh high grade deposit in joint venture with Hudbay Minerals.
Rockcliff's goal is to create critical mass in the copper space by advancing its existing high-grade copper deposits and to explore for the next copper discovery within its extensive property portfolio in the world class Snow Lake mining camp.
For more information, please visit http://rockcliffmetals.com
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Rockcliff Metals Corporation
Interim President & CEO
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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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