Trading Symbol RCR: TSXV
TORONTO, May 7, 2014 /CNW/ - Rockcliff Resources Inc. ("Rockcliff") (RCR: Tier 1 TSXV) is pleased to announce that it has exercised its option to earn an
additional 20% interest in the Tower Property and now holds a 70%
controlling interest in the property. The Tower property hosts high
grade copper in the National Instrument 43-101 T-1 Deposit, the T-2
Copper zone and numerous untested VMS targets worthy of additional
Ken Lapierre, President and CEO of Rockcliff commented, "The T-1 Deposit
is an exceptional asset in a world class VMS camp located beside a
highway and two active power lines. With the addition of the high
grade Talbot Deposit (see news release dated April 23, 2014), Rockcliff
now has the potential to achieve critical mass by expanding on both of
these deposits. We plan an aggressive drilling campaign and look
forward to advancing our copper assets in this area".
Outlined below is a National Instrument 43-101 Mineral Resource
Statement, T-1 Deposit, Manitoba, completed by Caracle Creek
International Consulting Inc., dated December 2, 2012 and an historic
resource for the Talbot Deposit in an internal report by Hudbay
Minerals dated December 19, 2008:
CIM definitions were followed for the estimation of mineral resources.
T-1 Mineral resources are estimated at a Cu cut-off of 0.5%. Talbot
estimated at minimum zinc equivalent cut-off of 4%
T-1 cut-off grade was based on a copper price of US$3.63 per pound.
Talbot was based on $2/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.
T-1 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. Talbot specific gravity measurements were taken by HBED and HBM
Mineral resources are not mineral reserves and do not have demonstrated
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).
The report entitled "Technical Report Talbot Lake Deposit, Manitoba"
dated December 19, 2008 was prepared by Mr. Brian Hartman, Central
Geologist, HBMS under the supervision of Robert Carter, P.Eng., Senior
Mines Analyst, HBMS, a Qualified Person under NI 43-101. Kimberley
Lau, P.Geo., Mines Technical Services Superintendent , HBMS, a
Qualified Person under NI 43-101, peer reviewed the report.
Copper equivalent grade is based on $3 copper, $1300 gold, $0.9 Zinc,
Historical Talbot estimates of grade and tonnage given in this Press
Release are viewed as reliable and relevant based on the information
and methods used at the time. They were prepared in compliance with
resource definitions under NI 43-101 but must be considered only as
historic resources as the Talbot Report is not a public document.
Neither Rockcliff nor its Qualified Persons have done sufficient work
to classify the historic estimate as a current mineral resource under
current mineral resource or mineral reserve terminology and are not
treating the historic estimate as a current mineral resource. The
historic resource should not be relied upon.
Pursuant to an exploration and option agreement with Pure Nickel Inc. (NIC: TSXV), to earn a 70% interest in the property, Rockcliff has paid a total of
$150,000 in payments and has incurred exploration expenditures
totalling over $4,000,000. After review and confirmation of the
expenditures by Pure Nickel, Rockcliff now controls a 70% interest in
the property while Pure Nickel holds the remaining 30%. An underlying
2% NSR on the property is held by Xstrata Nickel (Glencore Xstrata
plc), of which half can be purchased for $1,000,000.
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, is responsible for the information in this press
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 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 (2) VMS high grade copper rich NI43-101
Resources (T-1, Rail), two (2) historic VMS copper deposits (Talbot,
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
NI43-101 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.
For further information:
Rockcliff Resources Inc.
Ken Lapierre P.Geo.
President & CEO
tel: (416) 644-1752 cell: (647) 678-3879
Rockcliff New Address:
520-141 Adelaide St. W.
Toronto, ON M5H 3L5