10:32:53 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Rockcliff Copper Corp
Symbol RCU
Shares Issued 108,201,018
Close 2015-12-01 C$ 0.035
Market Cap C$ 3,787,036
Recent Sedar Documents

Rockcliff Copper drills 5.65 m of 2.7% CuEq at Talbot

2015-12-02 08:12 ET - News Release

Mr. Ken Lapierre reports

ROCKCLIFF DRILLS NEW COPPER DISCOVERY AT TALBOT, RPA COMMENCES NI43-101 RESOURCE ESTIMATE ON THE HISTORICAL TALBOT DEPOSIT, 7,500M DRILL PROGRAM PLANNED FOR 2016

Rockcliff Copper Corp. has made a new copper discovery, the identification of a high-grade copper corridor within the historic Talbot deposit and an extension of the Talbot deposit north lens. The company has now successfully completed its first-phase 5,065-metre 10-hole drill program at its Talbot property located in central Manitoba. Based on the success of historical drilling and Rockcliff's first-phase drill program, Roscoe Postle and Associates has been commissioned to complete a National Instrument 43-101 resource estimate on the historic high-grade Talbot deposit. Rockcliff further announces plans for a 7,500-metre drill program at the Snow Lake project in 2016 that will include drilling at its Talbot and Rail properties.

The table outlines significant mineralization identified in the company's first-phase drill program on the Talbot property. TB-001 was previously announced in a news release dated Sept. 23, 2015.

                                   Copper (i)                                    
              From     To  Length  equivalent   Copper  Gold  Zinc  Silver
Hole No.      (m)     (m)     (m)           %        %   g/t     %     g/t
 
TB-001     558.68  567.81    9.13        14.4      6.1   8.2   5.0   112.1
includes   560.62  564.42    3.80        20.4      5.9  16.6   5.8   135.6
TB-002     594.51  594.61    0.10         8.4      1.6   7.5   4.0    39.9
TB-006     661.61  667.26    5.65         2.7      1.1   1.0   2.0    24.2
includes   666.88  667.26    0.38         6.8      4.0   2.0   2.4    69.9
TB-007     167.79   172.0    4.21         1.4      0.6   0.7   0.6     9.4
TB-008     336.44  337.97    1.53         0.6      0.6   nsv   nsv     2.2
TB-009     199.80  203.46    3.66         1.5      1.4   0.1   nsv     3.9
includes   200.92  201.69    0.77         2.9      2.7   0.2   nsv     6.0
            
TB-003, 04, 05 and 010 intersected anomalous VMS mineralization.      
Metres represent down-the-hole thickness as true thickness has not been    
determined.
Nsv means no significant values. 
(i) Copper equivalent used $2.50 (U.S.) per pound copper, $1,100 (U.S.) 
per ounce gold, 80 cents per pound zinc and $15 (U.S.) per ounce silver.
Metal recoveries of 100 per cent were applied. 
Copper equivalent calculation is CuEq equals Cu grade plus (Zn            
grade per cent over 100 times 2,000 times Zn price) plus (Au grade over 
32.15 times Au price) plus (Ag grade over 32.15 times Ag price) over 
Cu price over 20.                                        

Please view the updated presentation at the company's website for additional information and highlights of the first-phase drill program, including planned drilling for 2016.

Rockcliff's 2015 fall drill program included 10 holes totalling 5,065 metres and led to the discovery of the North Copper zone, a copper-rich zone located 2.5 kilometres north of the Talbot deposit. The North Copper zone and nearby geophysical anomalies now represent the second known area on the property associated with significant copper-bearing mineralization. Additionally, the program identified a strongly conductive, high-grade copper corridor within the Talbot deposit main lens and also identified an extension of the Talbot deposit north lens associated with a large conductive anomaly. As a result of the successful drill program and historic drill results at the historic Talbot deposit, Rockcliff has commissioned RPA to complete an independent National Instrument 43-101 resource estimate on the historic Talbot deposit.

North Copper zone discovery

Rockcliff's first-phase drill program discovered a volcanogenic-massive-sulphide zone in drill hole TB-009, graded 1.5 per cent Cu equivalent (1.4 per cent copper and 3.9 grams per tonne silver) across a down-the-hole thickness of 3.66 metres, termed the North Copper zone. Mineralization consisted of local stringer to semi-massive to net-texture pyrrhotite and chalcopyrite that extended locally into VMS altered hangingwall and footwall rocks. Downhole geophysical surveys indicated that the copper mineralization intersected in TB-009 is located at the top edge of an untested, large, more conductive anomaly measuring 150 m along strike by 350 m down dip. The North Copper zone is located approximately 2.5 kilometres north of the Talbot deposit within an underexplored, one-kilometre-long airborne anomaly. Additional drilling in 2016 will be required to determine the extent and significance of this new discovery.

Talbot deposit main lens -- new high-grade copper corridor identified

High-grade VMS mineralization associated within the Talbot deposit main lens was identified in Rockcliff's drill hole TB-001, where a high-grade drill intercept graded 14.4 per cent Cu equivalent (6.1 per cent copper, 8.2 grams per tonne gold, 5.0 per cent zinc and 112.1 grams per tonne silver) across a down-the-hole thickness of 9.13 m (previously announced on Sept. 23) was intersected. Downhole geophysics identified a strong conductive anomaly measuring 50 m along strike and 500 m down dip in the central area of the deposit where the anomaly was also intersected by two historic holes. Historic drill hole TLS-006 intersected 9.1 per cent Cu equivalent (5.2 per cent copper, 3.2 g/t gold, 3.6 per cent zinc and 53.1 g/t silver) across a down-the-hole thickness of 2.94 m, and drill hole TSL-020 intersected 16.5 per cent Cu equivalent (9.0 per cent copper, 7.9 g/t gold, 2.5 per cent zinc and 132.9 g/t silver) across a down-the-hole thickness of 12.35 m. Additional drilling in 2016 along this newly identified high-grade copper corridor could significantly add to the economic viability of the Talbot deposit.

Talbot deposit north lens -- new extension north of deposit identified

Rockcliff's drilling has identified a 75 m extension of the Talbot deposit north lens, along strike to the north in drill hole TB-006, which graded 2.7 per cent Cu equivalent (1.1 per cent copper, 1.0 g/t gold, 2.0 per cent zinc and 24.2 g/t silver) across a down-the-hole thickness of 5.65 m. Downhole geophysics in TB-006 indicated that the deposit extension drill intercept is located at the south end of an untested north-trending anomaly measuring 300 m along strike by 150 m down dip. Additional drilling in 2016 will identify the significance of this large untested anomaly along strike of the Talbot deposit north lens.

RPA commissioned to complete National Instrument 43-101 resource estimate

As a result of the historic drilling and Rockcliff's successful first-phase drill program, the company commissioned RPA to complete a National Instrument 43-101 resource estimate on the historic Talbot deposit. The report is expected to be completed the first quarter of 2016 or earlier.

Rockcliff plans 7,500-metre drill program for 2016

Rockcliff is pleased to announce that a second-phase 7,500 m drill program is planned for 2016 on several of the company's properties within the Flin Flon-Snow Lake greenstone belt. Priority will be on the Talbot property where a second-phase drill program will follow up on the encouraging results identified in 2015. The Talbot drill program will focus on expanding the Talbot deposit in grade and size, determining the significance of the North Copper zone discovery at the North target, and drill testing the Central target (located just south of the Talbot deposit), where a significant untested ZTEM airborne anomaly was identified by HudBay Minerals in prior exploration programs. Additional drilling will be at the Rail property following drilling at Talbot.

Please view the updated presentation at the company's website for additional information and highlights of the first-phase drill program, including the downhole geophysics completed in this program and planned drilling for 2016.

Samples of half-core are packaged and shipped directly from Rockcliff's field office to TSL Laboratories, Saskatoon, Sask. TSL is a Canadian assay laboratory and is accredited under ISO/IEC 17025. Each bagged core sample is dried, crushed to 70 per cent passing 10 mesh, and a 250-gram pulp is pulverized to 95 per cent passing 150 mesh for assaying. A 0.5-gram cut is taken from each pulp for base metal analysis and leached in a multiacid (total) digestion and then analyzed for copper, lead, zinc and silver by atomic absorption. Gold concentrations are determined by fire assay using a 30-gram charge followed by fire assay gravimetric an atomic absorption finish. Samples greater than an upper detection limit (3,000 parts per billion) are reanalyzed using a one AT charge. Rockcliff inserted certified blanks and standards in the sample stream to ensure lab integrity.

Rockcliff can earn a 51-per-cent interest in the Talbot property from Hudson Bay Exploration and Development Company Ltd., a wholly owned subsidiary of Hudbay Minerals, by spending $6.12-million on exploration expenditures over six years. The first- and second-year expenditure commitments are $200,000 (completed) and $400,000 (completed), respectively, with escalating expenditure commitments over the remaining years. The agreement provides that once Rockcliff has earned its 51-per-cent interest in the Talbot property, Rockcliff (51 per cent) and Hudbay (49 per cent) will form a joint venture, and Rockcliff will be the operator of the joint venture. Provided Hudbay contributes its pro rata (49 per cent) share of expenditures under the joint venture, it will have two years from the date Rockcliff earns its 51-per-cent interest to purchase an additional 2-per-cent interest for a cash payment of $240,000 and either incurring expenditures over a two-year period equivalent to 2 per cent of the joint venture expenditures made since the formation of the joint venture or paying such amount to Rockcliff in cash. If Hudbay acquires the additional 2 per cent, it will become the operator of the joint venture. Once a positive feasibility study has been completed and mining development has commenced, the operator can increase its interest in the Talbot property to 65 per cent by paying the other participant a cash payment equal to the pro rata share of expenditures made by the other participant to reduce it to a 35-per-cent interest. The operator would then finance the costs of development and will be reimbursed for 100 per cent of the development costs, including the 35-per-cent interest of the non-operator. Once the costs of development have been repaid, the parties will be reimbursed their pro rata share of expenditures made prior to the date development commences before net profits are distributed pro rata (please see news release dated April 23, 2014, and filed on SEDAR under Rockcliff Resources for additional information).

Ken Lapierre, PGeo, president and chief executive officer of Rockcliff, a qualified person in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.