Rockcliff Metals: Kinross Completes 2019 Drill Program at Laguna 2020 Drill Program Underway
27 1월 2020 - 10:30PM
Rockcliff Metals Corporation (
“Rockcliff” or the
“Company”) (CSE: RCLF) (FRANKFURT: RO0, WKN:
A2H60G) is pleased to announce that KG Exploration
(Canada) Inc. (“KGE”), an affiliate of Kinross Gold Corporation has
completed its 2019 exploration program including over 3,000 metres
(“m”) of drilling at Rockcliff’s Laguna property (“Laguna”) in Snow
Lake, Manitoba. KGE optioned Laguna from the Company in July 2018.
Based on the positive results in 2019, KGE elected to continue with
the Laguna/Lucky Jack option agreement and has advised Rockcliff
that a winter drill program has now commenced at Laguna. Between
5,000m and 8,000m of drilling is planned at Laguna in 2020.
Pursuant to the July 2018 option agreement, KGE may earn up to a
70% interest in Laguna and the Lucky Jack gold properties by
spending $5,500,000 over the 6 year term of the option agreement.
Laguna, located in the Flin Flon-Snow Lake
greenstone belt hosts the historic Rex-Laguna gold mine, Manitoba’s
first and highest-grade former gold mine. Discovered in 1914,
eventual periodic gold mining from the Laguna quartz vein, between
1936 and 1940, produced over 60,000 ounces of gold with an average
grade of 16.7gpt. Laguna includes 28 contiguous mining claims
totalling 3,501 hectares.
The 2019 drill program was successful in
identifying a new high grade, narrow hangingwall quartz vein that
occurs above the mined Laguna quartz vein (see figure 1 below). The
hangingwall quartz vein has been traced by drilling for
approximately 250m along strike to about 150m depth. Some of the
more significant down-the-hole gold intervals from the 2019 drill
program are highlighted below.
- LG19-003: 2.82g/t across 0.56m
- LG19-004: 14.65g/t across 0.54m
- LG19-006: 15.95g/t across 0.39m
- LG19-007: 3.92g/t across 0.47m
- LG19-011: 11.80g/t across 0.84m
- LG19-015: 5.09g/t across 0.67m
- LG19-017: 4.87g/t across 1.06m
Drilling in 2020 is planned to test the new
hangingwall quartz vein, the Laguna quartz vein, the Bingo quartz
vein and Kiski quartz vein system as well as possibly testing the
Zona mineralized quartz vein on the Lucky Jack property. Summer
work is planned to consist of prospecting and mapping with
mechanical stripping at Laguna along with prospecting and mapping
on the Lucky Jack property.
Figure 1: Laguna Drill Area Highlighting
Location of 2019 Drill Hole Location and Assay
Results
To view an image of Figure 1, please
visit:https://orders.newsfilecorp.com/files/3071/51840_18266f223428483f_001full.jpg
2019 Laguna Drill Program
Kinross completed a total of 3,203m of drilling
in 17 holes over a collective 700m of strike length in two areas of
the Laguna gold mine trend, a six kilometre long corridor of
prospective geology and gold bearing quartz veining. The first area
tested proximal to the Laguna quartz vein (LG19-01 to LG19-014) and
the second tested proximal to the Kiski quartz vein system
(LG19-015 to LG19-017). All drill holes intersected quartz veining
with 11 of 17 holes intersecting veining/shearing over a minimum
one metre in core length. Three drill holes also intersected fine
grained visible gold within quartz veins.
A new hangingwall quartz vein was discovered
(see figure 1 above) above the Laguna quartz vein which returned
locally significant gold results. Gold mineralization was
encountered in the hangingwall quartz vein across a strike length
of 250m and to a vertical depth of 150m. It remains open in all
directions and part of the 2020 drill program will focus on
extending the strike and dip length of this new discovery.
Typical mineralization associated with gold
mineralization at Laguna is with arsenopyrite which is
predominantly associated in strongly sericitized and silicified
rhyolite and in quartz veins over one to three metres in thickness.
The arsenopyrite is predominantly disseminated within the
sericitized zones and follow along hairline fractures and margins
of quartz veins.
The Kiski vein system (see Figure 2 below) was
encountered in holes LG19-014 to LG19-017. Quartz veins were
associated with strong arsenopyrite mineralization (1% to 5%)
within the silicified gabbro-rich host rock. Mineralization was
highly constrained between 1m to 3m around the intersected
vein.
Figure 2: Kiski Vein System 2019 Drill
Location and Assay Results
To view an image of Figure 2, please visit:
https://orders.newsfilecorp.com/files/3071/51840_18266f223428483f_002full.jpg
QP
Ken Lapierre P.Geo., VP Exploration 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.
About Rockcliff Metals
Corporation
Rockcliff is a well-funded Canadian resource
development and exploration company with a +1,000 tpd leased
processing and tailings facility as well as several advanced-stage,
high-grade copper and zinc dominant VMS deposits in the Snow Lake
area of Manitoba. The Company is a major landholder in the Flin
Flon-Snow Lake greenstone belt which is home to the largest
Paleoproterozoic VMS district in the world, hosting mines and
deposits containing copper, zinc, gold and silver. The Company’s
extensive portfolio of properties totals over 4,500 square
kilometres and includes eight of the highest-grade, undeveloped VMS
deposits in the belt.
For more information, please visit
http://rockcliffmetals.comTwitter: @RockcliffMetalsFacebook:
Rockcliff Metals Corporation
For further information, please
contact:Rockcliff Metals
Corporation
Alistair
Ross
President &
CEO
Cell: (705)
507-4251
aross@rockcliffmetals.com
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 contained in
this news release, 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 a guarantee of
future performance and actual results or developments may differ
materially from those in the forward-looking statements.
The Canadian Securities Exchange does not accept
responsibility for the adequacy or accuracy of this news
release.
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