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Rockhaven Resources Ltd
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Rockhaven drills 18.5 m of 4.58 g/t AuEq at Klaza

2014-10-22 08:49 ET - News Release

Mr. Matthew Turner reports

ROCKHAVEN ANNOUNCES EXCEPTIONAL RESULTS FROM DEEP STEP-OUT DRILL HOLE AT WESTERN BRX ZONE - 16.29 G/T GOLD AND 1,435 G/T SILVER (44.99 G/T GOLD EQ) OVER 1.37 M

Rockhaven Resources Ltd. has released results from the final drill hole that tested the Western BRX zone at its 100-per-cent-owned and road-accessible Klaza property, located in the Dawson Range gold belt of southern Yukon. Drilling in the Western BRX zone has returned numerous high-grade gold and silver intercepts during the 2014 exploration season (see July 15, July 22, July 29 and Oct. 6, 2014, news releases). The final hole intersected high-grade precious and base metal mineralization 500 metres down dip from surface, further supporting the carbonate base metal gold classification that has been proposed as the deposit model at the Klaza property.

News release highlights:

  • KL-14-238 returned 16.29 grams per tonne gold, 1,435 grams per tonne silver, 5.57 per cent lead and 6.23 per cent zinc over 1.37 metres within an 18.5-metre-wide mineralized complex.
  • This is the deepest intercept obtained to date and clearly demonstrates depth potential at Western BRX and other zones on the property.
  • Mineralization is consistent with the carbonate base metal gold model, which predicts multiple zones with deep roots.

"The intercept in KL-14-238 is a game changer," stated Matt Turner, chief executive officer of Rockhaven Resources. "It greatly increases the known depth extent of the precious metal-rich vein/breccia system and supports the CBM classification, making Klaza a truly unique high-grade deposit for the Northern Cordillera."

Western BRX zone

The Western BRX zone was the main target of the 2014 diamond drill program. A total of nine excavator trenches and 40 diamond drill holes have traced mineralization over a 500-metre strike length and from surface to a maximum depth of 500 metres down dip. Mineralized veins are emplaced adjacent to a feldspar porphyry dike that is present throughout the zone. KL-14-238, the deepest hole completed to date at the Klaza property, intersected 16.29 grams per tonne gold, 1,435 grams per tonne silver, 5.57 per cent lead and 6.23 per cent zinc over 1.37 metres within a complex of veins, breccias and dikes, which averaged 4.58 grams per tonne gold equivalent over 18.50 metres. The high-grade precious and base metal intercept at this depth demonstrates the exceptional down-dip potential of the Western BRX zone. None of the earlier drill holes on this high-grade target extended below 310 metres down dip from surface. The complex of veins, breccias and dikes in KL-14-238 is the widest and strongest structure intercepted to date within the Western BRX zone.

The complete results from hole KL-14-238 are shown in the table. Maps, sections, core photos and assay results for work completed since 2010 can be viewed at Rockhaven's website.

                                DRILLING RESULTS

                     From     To Interval   Gold Silver  Gold eq  Lead  Zinc
Drill hole Zone ID     (m)    (m)     (m)+  (g/t)  (g/t) (g/t)(i)   (%)   (%)

KL-14-238  Western 502.44 520.94    18.50   2.19    120     4.58  0.49  0.68
               BRX                                                          
incl.              502.44 504.85     2.41   4.27   46.1     5.20  0.09  0.29
incl.              519.57 520.94     1.37  16.29  1,435    44.99  5.57  6.23

+ Represents the intercepted length. True widths are estimated to be 
approximately 80 to 90 per cent of the interval.                                   
(i) Gold equivalence has been calculated using metal prices of $1,200 per 
ounce gold and $24 per ounce silver, to be consistent with earlier 
calculations, and assumes 100-per-cent recoveries of both metals. Lead and 
zinc assays were not used in the calculation of gold equivalence.   

Carbonate base metal gold deposit model

The Klaza property hosts CBM-style mineralization within multiple, subparallel vein and breccia zones. CBMs are a recently recognized subclass of epithermal deposits that encompass a family of similar deposits located around the Pacific Rim. Multimillion-ounce gold deposits classified as CBM include Barrick Gold's Porgera mine (Papua New Guinea), Rio Tinto's formerly producing Kelian mine (Indonesia) and Continental Gold's Buritica project (Columbia).

Klaza and other CBM deposits feature multiple precious metal-rich structures that are formed peripheral to mineralized porphyry systems. The presence of carbon dioxide gas within the mineralizing hydrothermal fluids is key in facilitating precious metal deposition over large vertical extents, often in excess of one kilometre. Gold and silver are generally well liberated in this type of deposits, and elevated levels of lead, zinc and copper are common.

Nine main mineralized structures and several subsidiary structures have been identified at the Klaza property within an area four kilometres long and up to two kilometres wide. The most extensively explored zones (BRX and Klaza) have been traced over 2.4-kilometre strike lengths and to a depth of 500 metres down dip. Recently completed geophysical surveys suggest there is good potential for more discoveries within known areas of mineralization, and in undrilled areas along strike and further into the hangingwall and footwall of the system.

Within high-grade parts of the zones, deportment and quantitative mineralogy studies show that gold largely occurs as native gold or electrum, with a high degree of liberation. Silver mainly occurs with pyrargyrite, tetrahedrite and electrum, which are also well liberated from gangue and non-ore sulphide minerals. Copper mineralization is strongest near the porphyry centre in the eastern portion of the property, while lead and zinc contents dramatically increase in distal parts of the system. Highly elevated lead and zinc assays are often associated with high-grade gold and silver results.

All analyses for rock and core samples from the 2014 program were performed by ALS Minerals with sample preparation in Whitehorse and assays and geochemical analyses in North Vancouver. Core samples are routinely analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 48 other elements by inductively coupled plasma-mass spectrometry (ME-MS61). Samples that exceed the detection limits of the routine methods are assayed for silver, copper, lead and zinc by inductively coupled plasma-atomic emission spectroscopy (silver/copper/lead/zinc -- OG62) and gold by gravimetric analysis (Au-GRA22). Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, coarse reject duplicates, field duplicates and blanks are routinely inserted into the sample stream to ensure integrity of the assay process. All of the results reported have passed the quality assurance/quality control screening.

The 2014 program was managed by Archer, Cathro & Associates (1981) Ltd. Technical information in this news release has been approved by Matthew R. Dumala, PEng, a geological engineer with Archer Cathro and qualified person for the purpose of National Instrument 43-101.

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