Trading Symbol RCR: TSXV
www.rockcliffresources.com
TORONTO,
Aug. 12, 2013 /CNW/ - Rockcliff
Resources Inc. (RCR: TSXV) is pleased to announce that a
winter Deep Penetrating Electromagnetic (DPEM) Geophysical Survey
at its Tower Property, Manitoba,
has identified two large untested DPEM drill targets. The two
targets represent possible VMS mineralized zones and are viewed by
the Company as Priority 1 targets. The Company plans to drill
test both targets in 2013-14 to determine their copper
significance.
Both DPEM targets are located proximal to
Rockcliff's nearby high grade T-1 Copper Deposit and are
strategically located within a kilometer from an all season highway
and two sets of power lines. Their geophysical size of both targets
is larger than the geophysical response associated with the nearby
T-1 Copper Deposit. Both targets are interpreted to be within
100m from surface.
Presently, the high grade 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).
Please access the Company's website at
www.rockcliffresources.com to view the geophysical report
identifying the two priority 1 geophysical drill targets.
Mineral Resource Statement, T-1 Copper Deposit, Manitoba, by Caracle Creek International
Consulting Inc., dated December 2,
2012:
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).
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. A 50/50
Joint venture has now been formed. Rockcliff can now earn an
additional 20% in the property by spending an additional
$2,000,000 (approximately
$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. 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 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.