Rockcliff Metals Corporation (
“Rockcliff” or the
“Company”) (CSE: RCLF) (FRANKFURT: RO0, WKN:
A2H60G) is pleased to announce a new high-grade Nickel-PGE
discovery on its 100% owned Tower Property. This new discovery,
termed the TGR Nickel-PGE Prospect (“
TGR”), has
returned significant assay results. TGR is located only 600 metres
south of the Company’s high-grade, copper-rich Tower Deposit. The
TGR mineralization was discovered in a previously unexplored area
and is associated with ultramafic rocks of the Thompson Nickel Belt
(“
TNB”). The TNB is a world class + 300 kilometre
long mining belt with over 60 years of production from high-grade
nickel mines with associated copper and cobalt.
Discovery hole TSA20-002 intesected significant
Nickel-PGE mineralization at a down hole depth of 244.8 metres.
Drilling intersected high-grade nickel, palladium and platinum
mineralization over a downhole interval of;
2.40 m grading 2.53% Ni, 3.08g/t Pd and
1.04g/t Pt (3.82% NiEq) including1.25 m grading
4.46% Ni, 5.61g/t Pd and 1.87g/t Pt (6.79% NiEq)
Alistair Ross, President & CEO commented:
“The Tower Property has surprised us yet again with this very
significant high tenor Nickel-PGE mineralization. Our high-grade,
copper-rich Tower Deposit is associated with rocks from the Flin
Flon-Snow Lake Greenstone Belt. The high-grade TGR Ni-PGE
mineralization is associated with rocks from the Thompson Nickel
Belt and is a very exciting development for Rockcliff and its
shareholders. We have several additional untested high priority
targets along a significant strike length of 12 kilometres to the
west. This new discovery is truly a testament to the continued
commitment of management and our shareholders who have supported us
over the last 15 years. We believe our perseverance will be
rewarded as we continue to convert targets into discoveries,
discoveries into deposits and develop deposits into mines. We will
be busy at Tower once spring breakup is complete as we continue
exploration and the advancement of our high-grade Tower Deposit
through a Preliminary Economic Assessment in preparation of making
a construction decision as soon as it is feasible.”
TGR Nickel-PGE Prospect
The TGR discovery hole was the last hole drilled
in the Company’s 2020 winter drill program. Drill Hole TP20-002
intersected high tenor, high grade Nickel-PGE mineralization
beginning at a hole depth of 244.8 metres. A down hole width (not
true width) of 2.4 metres graded 2.53% nickel, 3.08g/t palladium
and 1.04g/t platinum including 1.25 metres that graded 4.46%
nickel, 5.61g/t palladium and 1.87g/t platinum. The hole was
designed to test the centre of a large Time Domain Electromagnetic
geophysical anomaly interpreted to have dimensions of 400 metres by
350 metres. Additional geophysical surveys will be completed to
determine the relationship between the high-grade interval and the
geophysical anomaly. Borehole geophysics completed in TSA20-002
identified an additional off-hole geophysical anomaly that has yet
to be tested.
Mineralization of the TGR is associated with
disseminations and net texture sulphides of pendlandite(nickel
bearing), millerite(nickel bearing), pyrrhotite as well as
magnetite in altered ultramafic host rocks. Only up to 15%
sulphides were observed within the TGR indicating a very high
nickel metal tenor relative to the amount of observed sulphides.
Additional assaying for total sulphur content and other types of
PGEs in drill core are presently being conducted.
The location of the TGR is approximately 600
metres south of the high-grade, copper-rich Tower Deposit. The
geological relationship between the Tower Deposit and TGR is
unknown at this time.
The Nickel Equivalent values calculated for the
TGR used US$6.10/pound for nickel, US$1,450/ounce for palladium and
US$865/ounce for platinum. No process recoveries or smelter
payables were included in the calculation.
Figure 1: Location map for the
Tower Property and the Thompson Nickel Belt
To view an image of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3071/55199_bd67e4cd14ffe8b9_001full.jpg
Figure 2: Plan view of Tower
Property highlighting the location of the Tower deposit, TGR
Nickel-PGE Prospect and additional geophysical targets (#1, #2,
#3) To view an image of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3071/55199_bd67e4cd14ffe8b9_002full.jpg
Figure 3: Plan View of Tower
Deposit (Copper) projected to surface and TGR Nickel-PGE
Prospect To view an image of Figure 3, please visit:
https://orders.newsfilecorp.com/files/3071/55199_bd67e4cd14ffe8b9_003full.jpg
Tower Deposit Mineral Resource
Estimate
A recent NI 43-101 Technical Report prepared by
P&E Mining Consultants Inc. (P&E) with an effective date of
March 2, 2020 and filed on SEDAR on April 16, 2020 is summarized
below. The 2020 drill holes were not included in the current
Mineral Resource Estimate.
Tower Deposit Updated Mineral Resource
Estimate at 1.5% CuEq cut-off(1-10)
Classification |
Tonnes(k) |
Cu(%) |
Zn(%) |
Au(g/t) |
Ag(g/t) |
CuEq(%) |
Cu(Mlbs) |
Zn(Mlbs) |
Au(koz) |
Ag(koz) |
CuEq(Mlbs) |
Indicated |
1,026 |
4.69 |
1.32 |
0.85 |
23.7 |
5.74 |
106.0 |
29.8 |
28.1 |
783 |
129.8 |
Inferred |
367 |
3.53 |
1.05 |
0.57 |
18.0 |
4.29 |
28.6 |
8.5 |
6.8 |
212 |
34.7 |
(1) Mineral Resources which are not Mineral
Reserves do not have demonstrated economic viability. The estimate
of Mineral Resources may be materially affected by environmental,
permitting, legal, marketing, or other relevant issues. (2) Mineral
Resources were estimated using the Canadian Institute of Mining,
Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources
and Reserves, Definitions and Guidelines prepared by the CIM
Standing Committee on Reserve Definitions and adopted by CIM
Council.(3) The Inferred Mineral Resource in this estimate has a
lower level of confidence than that applied to an Indicated Mineral
Resource and must not be converted to a Mineral Reserve. It is
reasonably expected that the majority of the Inferred Mineral
Resource could be upgraded to an Indicated Mineral Resource with
continued exploration.(4) Approximate Jan 31/20 two year trailing
average US$ metal prices used were $3/lb Cu, $1.10/lb Zn, $1,350/oz
Au and $16.50/oz Ag. The US$: CDN$ exchange rate used was 0.77. (5)
Respective process recoveries for Cu, Zn, Au, Ag were 95%, 80%,
80%, 80% (6) Respective smelter payables for Cu, Zn, Au, Ag were
96.5%, 85%, 90%, 90%.(7) Respective USD Cu and Zn smelter treatment
charges used were $80 and $250/tonne with concentrate freight of
CDN$65/tonne.(8) CuEq% was calculated as follows: Cu% + (Zn % x
0.220) + (Au g/t x 0.673) + (Ag g/t x 0.008).(9) The 1.5% CuEq
cut-off is approximately equivalent to a C$100/tonne project
operating cost.(10) Contained metal totals may differ due to
rounding.
Neither Rockcliff’s Qualified Person, Ken
Lapierre, P.Geo., nor P&E’s Qualified Person, Eugene Puritch,
P.Eng., nor management of Rockcliff are aware of any known
environmental, permitting, legal, title, taxation, socio-political,
marketing or other relevant issues that may materially affect the
estimate of the Mineral Resource.
Quality Control and Quality AssuranceSamples of
exploration half core were packaged and shipped directly from
Rockcliff’s core facility in Snow Lake 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 is
taken from each pulp for base metal analyses and leached in a
multi-acid (total) digestion and then analyzed for copper, nickel,
lead, zinc and silver by atomic absorption. Gold, palladium and
platinum concentrations were determined by fire assay using a 30g
charge followed by an atomic absorption finish. Samples greater
than the upper detection limit (3,000 ppb) were reanalyzed using
fire assay gravimetric using a 1 Assay Ton 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., VP Exploration 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.
Visit Rockcliff’s YouTube channel with a message
from the President and CEO, Alistair Ross. To access the video,
please visit: https://youtu.be/uW1b77obNyI.
About Rockcliff Metals
CorporationRockcliff is a well-funded Canadian resource
development and exploration company, with a fully functional +1,000
tpd leased processing and tailings facility as well as several
advance-staged, high-grade copper and zinc dominant VMS 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 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.comYoutube: Rockcliff Metals
CorporationTwitter: @RockcliffMetalsLinkedin: Rockcliff Metals
CorpInstagram: Rockcliff_Metals
For further information, please
contact:Rockcliff Metals
Corporation
Alistair
Ross
President &
CEO
Cell: (249)
805-9020contact@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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