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
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
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
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
(416) 863-9800 or (647) 678-3879
Cor Capital Inc