Rockcliff Commences Winter Exploration Program at its Snow Lake
Project Drill Set to Begin on the Tower and Dickstone Properties
Trading Symbol RCR: TSXV
TORONTO,
Jan. 24, 2013 /CNW/ - Rockcliff
Resources Inc. (RCR: TSXV) is pleased to announce that its
winter exploration program, including a minimum 1,500 meters of
drilling, has begun at its Snow Lake Project located in central
Manitoba. Line cutting and a
DPEM geophysical survey have commenced on the Tower Property.
Drilling will start in February or earlier and will begin at the
former copper-zinc producer Dickstone Property then shift to the
Tower Property. The Snow
Lake Project is located within the prolific Flin Flon greenstone belt, host to the largest
Paleoproterozoic VMS district in the world.
At Dickstone, drilling will follow-up on last
year's hole RDS12-002 which intersected: 1.7% copper,
0.3g/t gold, 0.2% zinc, 6.1g/t silver across 4.2m including 2.7%
copper, 0.4g/t gold, 0.3% zinc, 8.6g/t silver across 2.5m. Down
hole geophysics determined that the hole hit the bottom edge of a
large strong conductive anomaly which was identified north and
south of the existing mine workings. The untested anomaly
measured 250m wide and 800m long.
At Tower, drilling will initially focus on the
T-2 Copper Zone, discovered last summer in hole TP12-025 which
intersected 2.44% copper, 0.7g/t gold, 0.3% zinc, 18.2g/t silver
across 4.0m including 3.3% copper, 0.8g/t gold, 24.6g/t silver,
0.4% zinc across 2.0m. It is located at the very south
edge of a potential +500m long untested DPEM geophysical anomaly.
Additional DPEM geophysics is in progress to assist in defining the
total size and direction of the anomaly in an area of the property
that has yet to see any modern exploration. The NI 43-101 T-1
Copper Deposit is located within 200m of the T-2 Copper Zone.
Please refer to the press releases dated December 6, 2012 and January 22, 2013 for information on the high
grade NI 43-101 resource of the T-1 Copper Deposit.
Ken Lapierre,
President and CEO of Rockcliff commented, "Last year's discovery of
the T-2 Copper Zone and our recently announced NI 43-101 resource
of the high grade T-1 Copper Deposit outlines the tremendous
potential of the Tower Property to host multiple high grade copper
rich zones all located within 300m of a major all season highway
and power line. Additionally, on the Dickstone Property, the
large untested, strongly conductive geophysical target gives us the
potential to identify significant copper rich mineralization with
substantial size below existing mine workings." We are
excited about the overall potential of this drill program and look
forward to continued success through the drill bit!"
For additional maps of the Snow Lake Project
please refer to the Company website at:
www.rockcliffresources.com.
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. over the
last two years. Both parties will now form a joint venture
and Rockcliff will earn an additional 20% in the property by
spending an additional $2,000,000
(approximately $1,300,000 of which
has been spent to date) in exploration expenditures and paying a
total of $60,000 over the next 2
years. 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.
Rockcliff has the exclusive right to earn a 100%
interest in the Dickstone Property from Xstrata Copper Canada, a
division of Xstrata Canada Corporation (Xstrata). Rockcliff
will be required to incur aggregate exploration expenditures
totaling $3,500,000 over four
years. If Rockcliff earns a 100% interest in the Dickstone
Property, Xstrata then has a right to acquire up to a 70% interest
in the Dickstone Property. Please refer to the press release
dated February 22, 2011 for further
details.
Samples of half core are packaged and shipped
directly from Rockcliff's field office to TSL Laboratories (TSL),
Saskatoon, Saskatchewan.
TSL is a Canadian assay laboratory and is accredited under
ISO/IEC 17025. Each bagged core sample is dried,
crushed to 70% passing 10 mesh and a 250g pulp is pulverized to 95%
passing 150 mesh for assaying. A 0.5g cut is taken from each
pulp for base metal analyses and leached in a multi acid (total)
digestion and then analyzed for copper, lead, zinc and silver by
atomic absorption. Gold concentrations are determined by fire
assay using a 30g charge followed by an atomic absorption
finish. Samples greater than upper detection limit (3000 ppb)
are reanalyzed using fire assay gravimetric using a 1 AT
charge. Rockcliff inserted certified blanks and
standards in the sample stream to ensure lab integrity.
The information in this news release has been
reviewed and approved by Ken Lapierre
P.Geo., President and CEO of Rockcliff Resources Inc., a
Qualified Person in accordance with Canadian regulatory
requirements as set out in NI 43-101.
For more information please visit our website at
www.rockcliffresources.com
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 totalling in excess of 400
km2. The project includes two VMS copper rich NI
43-101 Resources (Rail and T-1 Copper Deposit), one former copper
rich VMS mine (Dickstone), one historic VMS copper deposit (Lon)
and the T-2 Copper Zone (Tower). Rockcliff also controls a
zinc-silver rich NI 43-101 Resource (Shihan) and a precious metal
property including one former gold mine (Century Mine).
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.