TORONTO, ONTARIO--(Marketwired - Oct. 26, 2016) - Rockcliff Copper Corporation ("Rockcliff" or the "Company") (TSX VENTURE:RCU) is very pleased to announce that the Company's exploration program has identified visible gold and high grade gold mineralization from known historic surface quartz veins at its Laguna Gold property. Additionally, the Company has discovered a gold bearing quartz vein stockwork system with a minimum surface strike length of 300 metres and a true thickness of up to 5 metres. Rockcliff has an option to earn a 100% interest in the Laguna Gold property which hosts the former high grade Laguna gold mine and multiple quartz veins exposed at surface. The property is strategically located 20 kilometres from a fully functional, non-operating, 2,150 tonne per day gold mill facility in Snow Lake, MB.
Exploration at the Laguna property identified surface quartz veins yielding high grade gold mineralization. Of immediate interest is a quartz rich stockwork system traced intermittently for over 300 metres along strike with a true thickness of up to 5 metres. Termed the "007 quartz vein", it is open to expansion in all directions with grab samples assaying from trace to 43.3 g/t gold, 1.2 g/t to 118.6 g/t silver and trace to 6.2% zinc. Additional historic veins (newly termed #001 vein to #006 vein) were located with grab samples assaying from trace gold up to 699.2 g/t (20.4 ounces per tonne) gold. The veins ranged between 0.2 metres up to 5.0 metres in width and were traced up to 1.0 kilometres along strike and visible gold was observed in outcrop. A total of 50 grab samples taken by Rockcliff are tabulated below. Quartz veins 3 and 4 returned no significant gold values in the samples assayed to date.
|Quartz Vein||Gold g/t||Quartz Vein||Gold g/t||Quartz Vein||Gold g/t|
Rockcliff's follow-up plans will include data compilation, surface geophysics (an induced polarization survey) followed by a first phase drill program. With multiple high grade, gold-rich, quartz veins throughout the Laguna property and no diamond drilling completed since the 1940s, the 2016-2017 exploration program is the first systematic, scientific exploration program on the property in over 70 years.
The Laguna property hosts the Laguna gold mine, the highest grade former gold mine in the Flin Flon-Snow Lake mining camps. Historical, intermittent gold mining from the Laguna vein between 1916 and 1939 of approximately 101,012 tonnes averaged 20.5 g/t (0.60opt) and produced over 60,000 ounces of gold. The Laguna gold mine infrastructure consists of a three compartment vertical shaft to 381 meters and 8 levels totalling over 3.0 kilometres of underground drift and stope development. The Laguna vein remains open along strike and at depth. Exploration has identified quartz veins #001 to #007 located proximal to the Laguna vein, all of which show significant potential for advancement. The Laguna property includes 15 contiguous mining claims totalling 920 hectares and is located approximately 20 kilometres southeast of the Town of Snow Lake, MB.
The gold mineralization on the Laguna property is metallogenically controlled by subsidiary thrust faults attributed to the major Crowduck Bay Fault which crosses the entire length of the property over a distance of 3.5 kilometres. The gold-rich quartz veining along the northwest limb of the Herb Lake Syncline typically occurs where the subsidiary faults intersect quartz-feldspar and biotite porphyry stocks that intrude Missi Group sedimentary and volcanic rocks. Quartz-iron carbonate-albite-sericite alteration commonly overprints peak regional metamorphic assemblages within auriferous vein margins. Mineralization in quartz and surrounding wall rock consists of pyrite, arsenopyrite, chalcopyrite, sphalerite, galena, pyrrhotite, native gold and telluride. Typical gangue minerals include tourmaline and fuchsite.
Rock samples were taken in the field, packaged and shipped directly from Rockcliff's field office to TSL Laboratories (TSL), Saskatoon, SK. TSL is a Canadian assay laboratory and is accredited under ISO/IEC 17025. Each bagged rock sample was dried, crushed to 70% passing 10 mesh and a 250g pulp was pulverized to 95% passing 150 mesh for assaying. A 0.5g cut was taken from each pulp for base metal analysis (if needed) and leached in a multi acid (total) digestion and then analyzed for copper, lead, zinc and silver by atomic absorption. Gold concentrations were determined by fire assay using a 30g charge followed by fire assay gravimetric an atomic absorption finish. Samples greater than an upper detection limit (3000 ppb) were reanalyzed using a 1 AT charge. Rockcliff inserted certified blanks and standards in the sample stream to ensure lab integrity.
Ken Lapierre P.Geo., President and CEO of Rockcliff, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this press release.
Please visit our website at www.rockcliffcoppercorp.com for additional information.
About Rockcliff Copper Corporation
Rockcliff is a Canadian resource exploration company focused on the discovery, advancement and consolidation of the highest grade unmined metal deposits in the prolific Flin Flon - Snow Lake (FF-SL) greenstone belt specifically centered on Snow Lake, MB. The Snow Lake Project, totalling in excess of 45,000 collective hectares is located in and around the Snow Lake mining camp and hosts the highest grade unmined copper deposits, the highest grade unmined zinc deposits and the highest grade former gold producer. The properties include two high grade Volcanogenic Massive Sulphide (VMS) NI 43-101 Resources (the gold-rich Talbot Copper deposit and the Rail Copper deposit), two historic high grade zinc-rich VMS deposits (the Lon Zinc deposit and the Bur Zinc deposit), and a Net Smelter Return Royalty (NSR) on the Tower property which includes the T-1 Copper deposit. The Snow Lake Project also includes the highest grade former lode gold producer (Laguna) in the FF-SL greenstone belt. Rockcliff also owns a zinc-silver rich NI 43-101 Resource (the Shihan deposit) in Ontario and a royalty on two gold properties in Colombia, South America.
Rockcliff is well funded with over $3.0 million in its treasury and no debt.
Cautionary Note Regarding Forward-Looking Statements: This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements.
All statements within, other than statements of historical fact, are to be considered forward looking. Although Rockcliff believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, exploration results, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by law.
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.