10:42:25 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



Rockhaven Resources Ltd
Symbol RK
Shares Issued 61,551,668
Close 2014-03-19 C$ 0.205
Market Cap C$ 12,618,092
Recent Sedar Documents

Rockhaven Resources to drill 12,000 m at Klaza

2014-03-20 11:25 ET - News Release

Mr. Matt Turner reports

ROCKHAVEN RESOURCES LTD. PLANS 12,000 M OF DIAMOND DRILLING AT KLAZA PROJECT, YUKON

Rockhaven Resources Ltd. has financing in place for the 2014 exploration program at its 100-per-cent-owned Klaza gold-silver property, located in the Dawson Range gold belt of southern Yukon. Drilling and trenching at the road-accessible Klaza property since 2010 have identified nine main mineralized structural zones and numerous subsidiary structures within a 2,000-metre-by-4,000-metre corridor. Individually, the main zones range from one to 75 m in width and are continuously mineralized over strike lengths of 250 to 2,400 m. The zones have been traced over a cumulative strike length of 9,400 m, and all remain open for expansion along strike and to depth.

The proposed 2014 program will include 12,000 m of diamond drilling, and will focus on delineating and expanding areas of high-grade gold and silver mineralization (greater than eight grams per tonne gold-equivalent). Drill targets for 2014 will include:

  • The Western BRX zone, where 2013 trenching and limited broadly spaced drilling have returned strong results over a 750 m strike length, including 68.27 g/t AuEq (50.1 g/t gold and 910 g/t silver) over 3.25 m from trench TR-13-58 and eight g/t AuEq (5.78 g/t gold and 111 g/t silver) over 15.62 m from hole DH-12-96;
  • The Western Klaza zone, where trenching and drilling returned numerous gold and silver-rich intervals, including 11.15 g/t AuEq (4.51 g/t gold and 332 g/t silver) over 7.12 m from hole DH-12-115;
  • The Central Klaza zone beneath hole DH-12-133, the deepest intercept to date on the zone, which intersected 12.00 g/t AuEq (11.90 g/t gold and 5.23 g/t silver) over 6.70 m at a depth of 310 m below surface;
  • The Pearl zone, a 2013 discovery where two excavator trenches situated 450 m apart averaged 29.04 g/t AuEq (23.98 g/t gold and 254 g/t silver) over 1.22 m.

"We are very excited to build on the success and knowledge gained from recent programs at the Klaza property, which have outlined multiple mineralized structures over long strike lengths," stated Matt Turner, chief executive officer of Rockhaven Resources. "We are now in a position to focus on defining the higher-grade parts of these extensive systems, while advancing other blue sky targets within this evolving gold district."

Maps and cross-sections related to the Klaza project can be viewed at the company's website. Further details of the 2014 exploration program and targets follow below:

Western BRX zone

The Western BRX zone is the main target of 2014 diamond drilling. Infill and step-out excavator trenching in 2013 at the Western BRX zone confirmed continuity of the mineralized structure and further delineated areas of high-grade gold and silver that were partially outlined by widely spaced drill holes in 2011 and 2012. Highlight results are shown in the table.

                               WESTERN BRX ZONE
 
Drill hole/       From        To   Interval      Gold    Silver       AuEq
trench              (m)       (m)        (m)     (g/t)     (g/t)      (g/t)

DH-11-37         81.13     95.93      14.80      5.43        50       6.43
DH-11-39        151.29    152.94       1.65     23.50       239      28.28
DH-12-72        178.48    179.81       1.33     10.60        23      11.06
DH-12-96        329.74    345.36      15.62      5.78       111       8.00
TR-13-47         30.05     31.20       1.15      87.0       768     102.36
TR-13-49          1.61      2.92       1.31      8.42       548      19.38
TR-13-58          3.35      6.60       3.25      50.1       910      68.27
TR-13-59         11.05     15.20       4.15      7.47       537      18.20
TR-13-67         35.00     38.55       3.55     31.38       310      37.59
TR-13-73          3.70      6.20       2.50     26.10       574      37.58
TR-13-74         12.45     14.70       2.25     31.20     1,030      51.80
TR-13-75          4.75      6.20       1.45     11.50     1,680      45.10
and              17.24     20.24       3.00     34.70       160      37.90
TR-13-77          5.08      7.18       2.10     14.40       729      28.98

Interval represents the diamond drill hole or trench sample length. True 
widths are estimated to be approximately 80 per cent to 90 per cent of the 
interval.                       
AuEq has been calculated using metal prices of $1,300 per ounce gold and 
$26.00 per ounce silver, to be consistent with earlier calculations, and 
assumes 100-per-cent recoveries.

Central and Western Klaza zones

The Central and Western Klaza zones host discrete veins, breccias and sheeted veinlets that have been traced over a strike length of 1,000 m and to a depth of 325 m downdip. Focused diamond drilling in 2014 will expand the area of known mineralization to the west and to depth, where some of the best results have been returned to date. Highlight results from the Central and Western Klaza zones are shown in the table.

                     CENTRAL AND WESTERN KLAZA ZONES

Drill hole/       From        To   Interval      Gold    Silver       AuEq
trench              (m)       (m)        (m)     (g/t)     (g/t)      (g/t)

DH-10-07        134.00    149.30      15.30      7.20       260      12.40
DH-11-16         88.04     94.82       6.78      6.09       101       8.11
DH-11-28        253.66    255.12       1.46     10.25       585      21.95
DH-12-79         91.56     94.77       3.21      3.18       516      13.50
DH-12-115       214.47    221.59       7.12      4.51       332      11.15
DH-12-133       439.00    445.70       6.70     11.90      5.23      12.00
TR-13-51         11.19     29.98      18.79      5.61       300      11.61
TR-13-52          3.75     10.59       6.84     16.20       158      19.36
TR-13-66         18.72     20.99       2.27     25.70       449      34.68
TR-13-69          5.16      9.76       4.60      8.29       295      14.20
TR-13-70          2.50      5.53       3.03     16.76     1,052      37.80

Interval represents the diamond drill hole or trench sample length. True 
widths are estimated to be approximately 80 per cent to 90 per cent of the 
interval.                       
AuEq has been calculated using metal prices of $1,300 per ounce gold and 
$26.00 per ounce silver, to be consistent with earlier calculations, and 
assumes 100-per-cent recoveries.

Pearl zone

The Pearl zone was discovered in 2013 and represents the most easterly, and if projected westward, the most northerly mineralized structure identified at the Klaza property. Two excavator trench exposures located 450 m apart returned 28.2 g/t gold and 359 g/t silver (35.38 g/t AuEq) over 1.20 m, and 19.75 g/t gold and 148 g/t silver (22.71 g/t AuEq) over 1.25 m (see Rockhaven news release dated Oct. 3, 2013). The results are particularly important as no mineralization was previously known in this area. Detailed follow-up drilling will be done in 2014 to evaluate this new high-grade gold and silver discovery, which is open to extension along strike in both directions.

Other targets

A small proportion of the planned drilling will evaluate particularly encouraging areas in the other six known mineralized zones. In addition, some prospecting, geological mapping and geophysical surveying will be completed in other areas of the property to define additional targets for drilling or trenching. All of the mineralized zones discovered to date at Klaza are marked by linear magnetic lows with coincident soil geochemical anomalies. In areas surveyed, these magnetic lows coincide with distinct chargeability highs and resistivity lows. The focus will be on defining and, as warranted, drill testing similar anomalies elsewhere on the property, with particular emphasis on overburden-covered areas to the west of the Western BRX and Western Klaza zones. In conjunction with 2014 work, continuing baseline environmental surveys and geotechnical data collection will continue to advance the Klaza property toward the permitting process.

The 2014 exploration program is scheduled to start in early June. The $3-million non-brokered private placement financing announced on Feb. 25, 2014, is fully subscribed and subject to TSX Venture Exchange acceptance, will be closed in the coming days.

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

© 2024 Canjex Publishing Ltd. All rights reserved.