Trading Symbol RCR: TSXV
TORONTO,
March 19, 2014 /CNW/ - Rockcliff
Resources Inc. ("Rockcliff") (TSXV: RCR) has
completed a winter drill program completing three (3) holes
totalling 1046m on the Tower Property, central Manitoba. The main focus of the drill
program was to test one of four flanking conductive DPEM (Deep
Penetrating Electro Magnetic) anomalies located near the high grade
T-1 Copper Deposit. Drilling successfully identified semi
massive to massive sulphide lenses up to five (5) meters
thick. Mineralization consisted of sporadic anomalous copper,
zinc, gold and silver values. A down hole geophysical survey
identified a new off hole anomaly below the semi massive to massive
sulphide lenses. The off hole anomaly and remaining three (3)
DPEM anomalies represent viable VMS style targets worthy of
follow-up geophysics and drilling.
Also, Rockcliff is pleased to announce it has
now exceeded its final $2.0M
expenditure requirement to earn an additional 20% interest in the
Tower Property. Subject to review by its joint venture
partner, Pure Nickel Inc., and payment of the $30,000 option payment due on March 26, 2014, 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. The property
hosts the high grade T-1 Copper Deposit (see below) with
significant credits in zinc, gold and silver and is strategically
located beside a major paved all season highway and two (2) active
power lines.
Please view www.rockcliffresources.com for
additional information on Rockcliff's Snow Lake Project including
the Tower Property.
Outlined below is the National Instrument (NI) 43-101 Mineral
Resource Statement, T-1 Copper Deposit, Manitoba, completed by Caracle Creek
International Consulting Inc., dated December 2, 2012. The deposit remains open
in all directions.
Resource Category |
Tonnes |
Cu (%) |
Zn (%) |
Ag (g/t) |
Au (g/t) |
Contained Pounds-Cu |
|
|
|
|
|
|
|
Indicated |
1,084,186 |
3.73 |
1.05 |
17.28 |
0.55 |
88,968,303 |
Inferred |
1,253,522 |
2.00 |
1.02 |
9.78 |
0.27 |
55,154,968 |
|
|
|
|
|
|
|
Notes:
- CIM definitions were followed for the estimation of mineral
resources.
- Mineral resources are estimated at a Cu cut-off of 0.5%.
- Cut-off grade was based on a copper price of US$3.63 per pound.
- Given the tonnage, grade and orientation of the deposit,
Caracle Creek considers the T-1 Copper Deposit to be reasonably
amenable to extraction using underground mining methods.
- Specific Gravity measurements were taken on a portion of the
samples and where actual measurements were not available an average
of 3.00 was used.
- Mineral resources are not mineral reserves and do not have
demonstrated economic viability.
- The report entitled "Independent Technical Report, Tower
Property, Grand Rapids, Manitoba"
dated January 20, 2013 (the "Tower
Deposit Report") was prepared by Zsuzsanna
Magyarosi, Julie Selway,
Jason Baker and Julie Palich, independent qualified persons
under NI 43-101, for Caracle Creek International Consulting Inc.
(Caracle Creek).
Ken Lapierre,
P.Geo., President & CEO of Rockcliff Resources Inc., is a
Qualified Person under the definition of National Instrument
43-101. Mr. Lapierre has reviewed and approved the technical
information in this press release.
Rockcliff Resources Inc.
Rockcliff Resources Inc. is a Canadian resource exploration company
focused on discovery and resource growth of its high-quality
mineral properties at its Snow Lake Project. Rockcliff presently
controls the Snow Lake Project in central Manitoba, totalling in excess of 400
km2. The project includes two VMS high grade
copper rich NI 43-101 Resources (Rail and T-1 Copper Deposits), one
historic VMS copper deposit (Lon), the T-2 Copper Zone (Tower),
numerous untested geophysical anomalies and several additional
properties with VMS potential (Freebeth, Dickstone North).
Rockcliff also owns a zinc-silver rich NI 43-101 Resource (Shihan)
in Ontario.
Additional information can be viewed at
www.rockcliffresources.com.
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.