Trading Symbol RCR: TSXV
TORONTO, Feb. 6, 2014 /CNW/ - Rockcliff Resources Inc. ("Rockcliff") (TSXV: RCR) is pleased to announce that drilling has commenced on the Tower
Property, central Manitoba. Drilling is targeting conductive DPEM
anomalies near the existing remobilized high grade T-1 Copper Deposit.
Rockcliff's previous airborne and surface geophysics have now
identified four (4) undrilled DPEM (Deep Penetrating Electro Magnetic)
anomalies associated along the flanks of a magnetic body located east
and proximal to the high grade T-1 Copper Deposit. Initial drilling
will focus on anomaly #1 of four (4), identified as a coincident mag
and strongly conductive DPEM anomaly located within 1.5 kms of the
deposit, major highway and two sets of active power lines. The DPEM
anomalies are interpreted as the potential source of the remobilized
massive sulphides of the deposit. Mineralization targeted is high
grade copper with secondary zinc, gold and silver (VMS) mineralization.
A minimum 1,000 meter drill program is now underway at the Tower
property. Additional recent DPEM geophysical surveys were completed
over anomaly #1, which will be the initial target of the drill
program. The remaining three (3) anomalies will be tested in a later
program. Drilling will determine if anomaly #1 is the source of the
remobilized high grade massive sulphides of the T-1 Copper Deposit (see
below table for the NI 43-101 T-1 Deposit Resource). Anomaly #1 is
interpreted as a highly conductive +600m long, north-south trending,
moderately flat west dipping, untested anomaly associated along the
flanks of a magnetic body. It is classified as a Priority one (1) VMS
target. A minimum of two to four holes are anticipated to be completed
by the end of February with results announced thereafter.
Additional geophysical maps from recent surveys can be found at www.rockcliffresources.com.
Outlined below is the National Instrument (NI)43-101 Mineral Resource
Statement, T-1 Copper Deposit, Manitoba, completed by Caracle Creek
International Consulting Inc., dated December 2, 2012. The deposit
remains open in all directions.
Resource Category
|
Tonnes
|
|
Cu (%)
|
|
Zn (%)
|
|
Ag (g/t)
|
|
Au (g/t)
|
|
Contained Pounds-Cu
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Indicated
|
1,084,186
|
|
3.73
|
|
1.05
|
|
17.28
|
|
0.55
|
|
88,968,303
|
|
Inferred
|
1,253,522
|
|
2.00
|
|
1.02
|
|
9.78
|
|
0.27
|
|
55,154,968
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes:
-
CIM definitions were followed for the estimation of mineral resources.
-
Mineral resources are estimated at a Cu cut-off of 0.5%.
-
Cut-off grade was based on a copper price of US$3.63 per pound.
-
Given the tonnage, grade and orientation of the deposit, Caracle Creek
considers the T-1 Copper Deposit to be reasonably amenable to
extraction using underground mining methods.
-
Specific Gravity measurements were taken on a portion of the samples and
where actual measurements were not available an average of 3.00 was
used.
-
Mineral resources are not mineral reserves and do not have demonstrated
economic viability.
-
The report entitled "Independent Technical Report, Tower Property, Grand
Rapids, Manitoba" dated January 20, 2013
(the "Tower Deposit Report") was prepared by Zsuzsanna Magyarosi, Julie
Selway, Jason Baker and Julie Palich, independent qualified persons
under NI 43-101, for Caracle Creek International Consulting Inc.
(Caracle Creek).
At Tower, Rockcliff exercised the option to earn its 50% interest by
spending $2,000,000 on exploration expenditures and paying $90,000 to
Pure Nickel Inc. A 50/50 Joint venture has now been formed. Rockcliff
can now earn an additional 20% interest in the property by spending an
additional $2,000,000 (over $1,900,000 of which has been spent to date)
in exploration expenditures and paying a total of $60,000 to Pure
Nickel ($30,000 has been paid to date) by March of 2014. Once
completed, Rockcliff will control a 70% interest in the property. An
underlying 2% NSR on the property is held by Xstrata Nickel, of which
half can be purchased for $1,000,000.
Ken Lapierre, P.Geo., President & CEO of Rockcliff Resources Inc., is a
Qualified Person under the definition of National Instrument 43-101.
Mr. Lapierre has reviewed and approved the technical information in
this press release.
Rockcliff Resources Inc.
Rockcliff Resources Inc. is a Canadian resource exploration company
focused on discovery and advancement of its high-quality mineral
properties at its Snow Lake Project. Rockcliff presently controls the
Snow Lake Project in Manitoba, totalling in excess of 400 km2. The project includes two VMS high grade copper rich NI43-101
Resources (Rail and T-1 Copper Deposits), one historic VMS copper
deposit (Lon), the T-2 Copper Zone (Tower), numerous untested
geophysical anomalies and several additional properties with VMS
potential (Freebeth, Dickstone North). Rockcliff also owns a
zinc-silver rich NI43-101 Resource (Shihan) in Ontario.
Forward Looking Statement:
Some of the statements contained herein may be forward-looking
statements which involve known and unknown risks and uncertainties.
Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of the
Company are forward looking statements that involve various risks. The
following are important factors that could cause the Company's actual
results to differ materially from those expressed or implied by such
forward looking statements: changes in the world wide price of mineral
commodities, general market conditions, risks inherent in mineral
exploration, risks associated with development, construction and mining
operations, the uncertainty of future profitability and the uncertainty
of access to additional capital. There can be no assurance that
forward-looking statements will prove to be accurate as actual results
and future events may differ materially from those anticipated in such
statements. Rockcliff undertakes no obligation to update such
forward-looking statements if circumstances or management's estimates
or opinions should change. The reader is cautioned not to place undue
reliance on such forward-looking statements.
Neither 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.
SOURCE ROCKCLIFF RESOURCES INC.