Trading Symbol RCR: TSXV
www.rockcliffresources.com
TORONTO,
March 19, 2013 /CNW/ - Rockcliff
Resources Inc. (RCR: TSXV) is pleased to announce that
drilling at the Tower Property has intersected high grade copper
mineralization at the T-1 Copper Deposit. Additional drilling
and a DPEM Geophysical survey completed east of the Deposit have
identified the potential sulphide source of the T-2 Copper
Zone.
Significant assay results from TP13-34 and
TP13-35 drill holes are tabulated below.
- 2.8% copper, 0.7g/t gold, 0.9% zinc, 17.2g/t silver across
3.0m including
6.8% copper, 1.6g/t gold, 1.8% zinc, 41.5g/t silver across 1.1m
(hole 34)
- 4.3% copper, 0.5g/t gold, 1.3% zinc, 23.5g/t silver across
5.5m including
8.4% copper, 0.9g/t gold, 2.4% zinc, 44.6g/t silver across 2.7m
(hole 35)
Rockcliff's winter drill program at the Tower
Property has now been completed in five (5) drill holes totalling
almost 1500m. Two (2) holes tested within T-1 Copper Deposit
and three (3) holes tested the T-2 Copper Zone.
At the T-1 Copper Deposit, two holes (hole
TP13-034 and TP13-035) tested an area south of the Deposit's
high grade copper Indicated Resource within the Deposit's lower
grade Inferred Resource in an area void of drilling. Both
holes intersected high grade copper mineralization (2.8% copper
across 3.0m and 4.3% copper across 5.5m) which was significantly
higher than the overall Inferred Resource grade of 2.0% copper.
Highlights of the recently completed drill
program at the T-1 Deposit are tabulated below. Previously
reported drill results (holes 1-33) can be viewed on the Company
website at www.rockcliffresources.com.
Borehole |
From(m) |
To (m) |
Length *(m) |
Copper % |
Gold g/t |
Zinc % |
Silver g/t |
Grid N/E/Azimuth/Dip |
TP13-34 |
196.0 |
199.0 |
3.0 |
2.8 |
0.7 |
0.9 |
17.2 |
0+50S/0+10E/280/-52 |
includes |
196.2 |
197.3 |
1.1 |
6.8 |
1.6 |
1.8 |
41.5 |
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TP13-35 |
242.3 |
247.8 |
5.5 |
4.3 |
0.5 |
1.3 |
23.5 |
0+50S/0+10E/280/-65 |
includes |
244.6 |
247.3 |
2.7 |
8.4 |
0.9 |
2.4 |
44.6 |
|
* Lengths reported above are drill intersected
core lengths and do not represent true widths.
Presently, the T-1 Copper Deposit Mineral
Resource is outlined below (please see the news release dated
December 6, 2012 for complete details
of the Mineral Resource).
Mineral Resource Statement, T-1 Copper Deposit, Manitoba, by Caracle Creek International
Consulting Inc., dated December 2,
2012:
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Resource Category |
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Tonnes |
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Cu (%) |
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Zn (%) |
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Ag (g/t) |
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Au (g/t) |
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Contained
Pounds-Cu |
Indicated |
|
1,084,186 |
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3.73 |
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1.05 |
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17.28 |
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0.55 |
|
88,968,303 |
Inferred |
|
1,253,522 |
|
2.00 |
|
1.02 |
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9.78 |
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0.27 |
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55,154,968 |
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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.
At the T-2 Copper Zone, three (3) holes
intersected a thick section of pervasive VMS alteration over a
strike length of 150 meters north on last year's discovery hole
(TP12-025 intersected four (4) meters grading 2.44% copper, 0.7
g/t gold, 18.2 g/t silver, 0.3% zinc. Please see news release
dated May 23, 2012). Drill
hole's TP13-001, 002 and 003 intersected scatered anomalous values
from trace up to 6.0% copper over narrow widths within the
alteration package. The recently completed DPEM
geophysics has identified an untested conductive anomaly on strike
to the north. Future drilling will be required to determine
if the conductive anomaly on strike of the present mineralization
could represent the concentrated source of the copper
mineralization intersected to date.
Ken Lapierre,
President and CEO commented, "This winter's drill program was
successful on two fronts. It identified higher grade copper
mineralization within the lower grade T-1 Copper Deposit Inferred
Resource. Also, drilling along the T-2 Copper Zone
intersected copper mineralization within the favorable VMS
alteration package trending towards an untested newly identified
DPEM conductive source that could represent a significant
concentration of copper sulphides for future discovery".
Pursuant to an exploration and option agreement
with Pure Nickel Inc., to earn a 70% interest in the property,
Rockcliff must pay $150,000 in
incremental payments and is required to incur aggregate exploration
expenditures totalling $4,000,000.
Rockcliff has recently exercised the option to
earn its 50% interest by spending $2,000,000 on exploration expenditures and paying
$90,000 to Pure Nickel Inc. over the
last two years. Both parties will now form a joint venture
and Rockcliff will earn an additional 20% in the property by
spending an additional $2,000,000
(approximately $1,600,000 of which
has been spent to date) in exploration expenditures and paying a
total of $60,000 over the next 2
years. 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.
Quality Control and Quality Assurance
Samples of half core are packaged and shipped
directly from Rockcliff's field office to TSL Laboratories (TSL),
Saskatoon, Saskatchewan.
TSL is a Canadian assay laboratory and is accredited under
ISO/IEC 17025. Each bagged core sample is dried,
crushed to 70% passing 10 mesh and a 250g pulp is 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, 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 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.
Ken Lapierre,
P.Geo., President & CEO of Rockcliff Resources Inc. of
Rockcliff Resources Inc., is a Qualified Person under the
definition of National Instrument 43-101. Mr. Lapierre has
reviewed and approved the 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 copper rich
NI43-101 Resources (Rail and T-1 Copper Deposit)), one former
copper rich VMS mine (Dickstone), one historic VMS copper deposit
(Lon) and the T-2 Copper Zone (Tower). Rockcliff also
controls 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.